Setting up controls on Ramp cards and funds

Overview

Use Ramp's embedded policies to control spending before it happens using Ramp's embedded policies. To view or edit funds-level controls, locate the funds on the Funds & Cards tab and click to select them. Then, click the Options button and select Edit to change any of the settings described below. 

Funds & cards tab - Available options

Owner

The owner is the name of the cardholder you assign the funds to. The owner's name is printed on physical cards.

What is it for? 

Enter a short description of the purpose of the funds. This is the internal name for the funds. This description is not printed on the funds.

Amount

The dollar limit of the funds. The limit renews at the frequency entered in the Frequency field. 

Currency

The Currency field is only active while the funds are being created. You cannot modify the currency of the funds after they've been issued.

 Frequency

 How often the Amount, or limit, resets:

• • • Daily resets at 12am UTC each day.
    • Weekly resets at 12am UTC every Sunday.
    • Monthly resets at 12am UTC on the last day of each calendar month.
    • Quarterly resets at 12am UTC every 3 calendar months (January, April, July, October).
    • Yearly limit resets at 12am UTC on the last day of each calendar year.
    • Annual limit resets at 12am UTC on the same day each year (the day the card was originally issued).
    • Does not repeat indicates the fund amount will not reset. The fund locks once the limit is reached. If you set the frequency to Does not repeat, but the historic spend on the fund exceeds that amount, the fund will auto-lock. You can unlock the fund by changing the reset frequency to anything but Does not repeat.

Add a one-time increase 

Toggle Add a one-time increase on if you would like the limit entered into the Amount field to revert to the previous limit at the end of the period in the Frequency field. 

Suppose you have a limit of $1000 a month, but temporarily need additional spend to cover a special project. You could set the amount field to $5000 and toggle Add a one-time increase on. This changes the limit to $5000 until the end of the month when the limit reverts to $1000. 

Submission policy

Select the submission policy you want to apply to the transactions made on these funds. 

Advanced

Sharing

These funds can be shared with others at your company.

If you want more than one person to access the same limit, you can share these funds with others at your company.

Who should this be shared with? 

Select the cardholders you want to access the shared limit.

Spending controls and restrictions

Restrict categories & merchants

Click the Add restrictions button to restrict funds purchases by category or merchant. 

Category restrictions

Click the Control type field to select from the following:

• • Select Allowed categories to allow transactions from merchants classified in the selected categories. All spend from merchants not classified in the selected categories is declined.
  • Select Blocked categories to block spend from merchants classified in the selected categories. 
  • Select None if you do not want to restrict by category. 

Merchant restrictions

Click the Control type field to select from the following:  

• • Select Allowed merchants to allow transactions from the selected merchants. Some merchants may have more than one entry, so select each instance. 
  • Select Blocked merchants to block spend from the selected merchants. Some merchants may have more than one entry, so select each instance.
  • Select None if you do not want to restrict by merchant.

Start date

Enter the date you want the funds to become active. Leave blank if you want the funds to be active right away. 

Lock on a certain date

Enter the date you would like the funds to stop accepting charges. Any charges that appear after this date are declined.

Max expense amount

Enter the maximum expense you want to allow on the funds. Any transactions over this amount will be automatically declined. 

Reviews and memos

Expense approval

Select an existing expense approval policy. The policy selected here will apply to all transactions made with these funds once you click the Save changes button.  Prior transactions retain the expense approval policies active when the transaction occurred. 

Use a default memo for all transactions

Toggle Use a default memo for all transactions on to enter a memo to appear on all transactions. 

Transaction coding rules

Accounting rules

Click the Add button to set default entries for accounting fields for transactions made on these funds. Selections here override all other accounting rules unless manually overridden. 

Payment options

Reimbursements

Toggle Reimbursements to allow employees to enter reimbursements towards their funds. 

• • If a reimbursement is not submitted for funds, the default expense review policy applies.
  • If the limit on the funds resets periodically, the date of the transaction determines which reset period the reimbursement is applied against.
    • For example, if funds with a $500 limit resets every week and the cardholder submits a reimbursement request against that limit for a $300 transaction made the prior week that was paid for with their personal, non-Ramp card.
    • The $300 reimbursement is applied against last week's limit because the date of the transaction is last week. 
    • If last week's limit has less than $300 available on it, the reimbursement cannot be requested toward these funds.

Physical card (option not visible when issuing or requesting; only visible when editing funds)

Toggle the Physical card on if this card will be physically swiped at the location. Each cardholder is limited to one physical card at a time. 

Online (option not visible when issuing or requesting; only visible when editing funds)

Toggle Online on if you want virtual card-only funds. These are issued with a card number to be used for online transactions. 

Danger zone

Entity

You will only see this option if you have multiple entities. If you do, select the entity the funds should be associated with. Note that only future transactions are associated with the newly selected entity. Existing transactions remain unchanged. 

Add to program

Click the Add to program button to add the funds to an existing spend program. If you add the funds to a spend program, the spend program settings override any changes you make here.

Terminate

Click the Terminate button to delete the funds.