Simplifying expense management with funds | Update FAQ

Overview

• Funds: Money that can be spent using your physical,a virtual card, or reimbursements. (Previously known as a virtual card with physical linking turned on.)
• Physical Card (no change): Spend anywhere in-person or online as long as you have funds allocated.
• Virtual Card: A payment method ideal for online-only spending like subscriptions when funds are restricted to the virtual card option. (Previously known as a virtual card with physical linking turned off.)

Other details to note:

• Physical cards need to have funds added before use (previously known as linking a virtual card); virtual cards do not link to physical cards
• Auto-matching (previously smart routing) works the same as before
• Employees still have the option to keep auto-matching on or spend from their physical card using specific funds
• Funds for your physical card can be converted to virtual card-only funds and vice versa

Mapping previous terms to new terms

• Spend limit, limit, virtual card → funds
  • Exception: virtual cards will still exist as a restricted spend vehicle for funds
• Linked to → spend & spent from
• Swap → switch
• Reassign → change
• Auto-routing & automatic card matching → auto-matched
• Card request & spend request → request

Some example sentences

• "I can use my physical card to spend the funds I've been issued."
• "I've been issued funds that I spend for different purposes. I can spend any of these funds from my physical card."
• "My physical card is one way I can spend my funds. I can also request a reimbursement for them.”
• "The funds for my team's Figma subscription are restricted to a virtual card."

Why are we making these updates?

Using natural language instead of the terms that are specific to Ramp will simplify your experience on Ramp. It is more natural to say, “I can only use my physical card when I have funds.,” than to say, “I can only use my physical card when it’s linked to a virtual card.” The interface changes are designed to aid the term changes.

What are the interface changes?

Action	Step-by-step instructions	In-Product Visual
Requesting funds (employee)	Navigate to "My Ramp" > "Request funds" Select "Virtual Card" or "General expenses" "Virtual Cards" are for online-only spend, e.g. subscriptions like Figma, OnePassword By default, the payment option for submitting reimbursements against these funds is off "General Expenses" are funds for your physical card that can be spent in-person and online By default, the payment option for submitting reimbursements against these funds is on Fill in the required fields Click "request" when ready
Issuing funds (manager + admin)	Navigate to "Funds & cards" > "Issue funds" Select the person or people these funds are for Select "Virtual Card" or "General expenses" "Virtual Cards" are ideal for online-only spend, e.g. subscriptions like Figma, OnePassword. By default, the payment option for submitting reimbursements against this card is off "General Expenses" are funds for your physical card in-person and online By default, the payment option for submitting reimbursements against these funds is on Fill in the required field. Click "Issue" when ready
Funds drawer (no payment method restrictions)	The funds drawer doesn't show a virtual card number by default. If you need to use a card number: Click "Options" Click "Generate unique card number" Now the card number will stay on this page and cannot be hidden again If you want to disable physical card spend: Click "Options" Click "Edit" Navigate to "Payment options" Toggle off "Physical card" Other actions under "Options" include: Edit: This also allows you to edit the amount of money in these funds and any other field, including payment options. Submit reimbursement (if the company has reimbursements enabled and the funds allow allow payment with reimbursements) Lock: To lock spend on the funds and decline card transactions Terminate: To terminate the funds from the UI (the previous transactions will remain on any tables)
Funds drawer (Physical card spend restricted; 'virtual card')	If physical card spend is not allowed, the funds drawer shows a virtual card number by default. If you need to use a card number: If you want to spend these funds using a physical card: Click "Options" Click "Edit" Navigate to "Payment options" Toggle on "Physical card" Other actions under "Options" include: Edit: This also allows you to edit the amount of money in these funds and any other field, including payment options. Submit reimbursement (if the company has reimbursements enabled and the funds allow spending with reimbursements) Lock: to lock spend on these funds and decline card transactions Terminate: to terminate these funds, the UI (the previous transactions will remain on any tables)
Issuing a physical card when inviting employees	Navigate to "People" Click "Invite people" If you want to issue a physical card, you must also issue funds when you issue the physical card

Frequently Asked Questions

Employee Questions

• When should I request “General expenses” vs ”Virtual card?”
  • Generally you'll be requesting ”General expenses” (can be used in-person and online) unless you're only planning to spend online. For example, if you’re requesting funds for an online subscription, you can request a virtual card. 
• Why isn’t there a card number when I click into my funds?
  • Funds for your physical card will not display a virtual card number by default because they're intended to be spent using your physical card. Spend with your physical card and we’ll automatically match that charge against the appropriate funds. You swipe, and we'll handle the rest!
  • [For employees who onboarded before mid-December] If you have previously used the card number with your funds, you will continue to see that card number. However, when new funds (general expenses) are issued or requested, they will not show card numbers by default because they’re intended to be spent from your physical card.
  • If you need to use the card number, you can go to “Edit” > “Generate unique card number” to display it. Once displayed, this card number will not change and will remain on the screen when you click back into the funds.
• I have funds for X, but I'm still getting declined when I spend on my physical card. Why don’t I have the ability to spend from specific funds with my physical card?
  • One thing to confirm is that the funds you are trying to spend allow physical card transactions. If your funds are restricted to virtual card only, you cannot spend them with your Ramp card. If you want to spend them using your Ramp card, you can click into the funds, click “Edit,” scroll to "Payment options," and toggle on the physical card option.
• What is the difference between requesting, issuing, or getting issued “General expenses” and a “Virtual card?”
  • When you're issued funds for “General expenses,” you can use your Ramp card to spend them. When you're issued funds restricted to virtual card spend, you spend them using a virtual card.
• Where can I find my Ramp card and funds?
  • Your Ramp card is displayed on the right hand side of your Ramp homepage, with the funds it can spend directly underneath. Funds that cannot be spent with a physical card are displayed at the bottom.
• What do these changes mean for me if I don’t have a physical card?
  • If you don’t have a physical Ramp card, all your funds appear beneath the “Funds” section on your MyRamp homepage. These funds can only be spent using a virtual card. All of these funds will have the card number shown by default. If you later get a Ramp card, then funds with physical card spending enabled will automatically be eligible to be spent from your physical card.
• What do these changes mean for me if I don’t have cards at all and only use reimbursements?
  • No change at all!

Admin Questions

• How does this affect spend programs, onboarding and bulk CSV invites?
  • Spend programs, employee onboarding workflows, and bulk CSV invites have stayed the same.
• What do my employees see?
  • For current customers (onboarded before these changes went live), they'll see the badges "New" and "Updated" next to "General expenses” and “Virtual card"
• Can I turn this change off for my company and revert to the previous UI and terms?
  • The team at Ramp has made a thoughtful and researched decision to change the terms and UI, and these will not be reverted. However, we are happy to take feedback to better understand how to improve the current experience.