Note: This article primarily applies to Ramp Administrators and Owners.
Overview
Currently, the Ramp Investment Account allows businesses to invest their cash into FUGXX, a money market fund. FUGXX is a government money market fund that seeks to provide high liquidity and a competitive yield while investing in short-term U.S. Treasury obligations and government securities. See the prospectus here for more details. Ramp plans to offer more investment options in the future.
Set up (How do I add an Ramp Investment Account?)
- You must first have set up a Ramp Business Account in order to open a Ramp Investment Account (see Ramp Business Account Overview for guidance)
- Navigate to Treasury tab, click the "+" icon next to Business Account
- Click Investment Account
- Go through the onboarding flow
- Fill out your business tax structure and individual tax structure
- Review your account agreements and check the tickbox
Once you open the account, it will show as under review. It takes up to 48 hours to be reviewed after which you would be able to access your Ramp Investment Account to transfer funds.
How does an Investment Account work?
Funds in your Ramp Business Account can be used immediately during market hours or queued for share purchases in the Investment Account outside of market hours. Trades placed during market hours are typically executed immediately, while those placed after hours will settle on the next business day.
To place a buy or sell order, go to Ramp Treasury > Transfer funds:
- Buy Order: transfer funds from your Ramp Business Account to a Ramp Investment Account to invest cash.
- Sell Order: transfer funds out of your Ramp Investment Account to redeem your shares for cash.
To invest in FUGXX, your total position must be at least $1,000. This includes initial investments and ongoing balances. If your overall investment falls below $1,000, FUGXX may notify Apex Clearing Corporation to close your position. This decision is at FUGXX’s discretion based on balance thresholds. If this happens your shares will be sold, and the proceeds will be returned to your Ramp Business Account.
After your initial investment of $1,000, you can invest more with a minimum buy order size of $5. The minimum sell order size is also $5. Investment limits are tied to your available cash balance. Ramp does not impose additional limits on FUGXX investments.
Buy Orders are immediately placed and typically filled at the close of a trading day. For Sell Orders, funds are typically available in your Ramp Business Account balance one trading day after the sell order is completed in the Investment Account.
Dividends are automatically reinvested into additional shares of FUGXX.
Frequently Asked Questions
Are there any fees associated with using the Ramp Investment Account?
Ramp does not charge account fees. FUGXX does have expense ratios that impact returns. Please review the fund prospectus for details.
Where can I view my account activity and statements?
You can view detailed activity and download statements in the Documents tab under Ramp Treasury.
Is the Ramp Investment Account insured?
The Ramp Investment Account, provided through our brokerage partner Apex Clearing Corporation, is protected by the Securities Investor Protection Corporation (SIPC). SIPC protection covers up to $500,000 in securities (including $250,000 in cash) in case of brokerage failure, but does not protect against market losses.
Investments in FUGXX are not FDIC-insured, but the fund is backed by high-quality government securities. Please refer to the FUGXX prospectus for more details.
Can I invest in multiple securities or funds?
No, right now the Ramp Investment Account only supports investments in FUGXX.
How can I close my Investment Account?
Create a support ticket here and select Ramp Investment Account to close your Ramp Investment Account.
How can I see my Apex account number?
Your account number is available on the Ramp Investment Account page under Portfolio Details in small print.
How can I change my account details, like the account owner home address, or email address, or provide additional compliance information that's been requested?
For changes to account details, compliance information, or other inquiries, create a support ticket here and select Ramp Investment Account.
I have other questions about my Ramp Investment Account.
For assistance, create a support ticket here and select Ramp Investment Account.