Overview
Faster Payments is designed to help you get paid more quickly for invoices processed through Ramp Bill Pay. Instead of waiting days for a standard ACH transfer, you can opt in to receive payment as fast as the same day —minus a small 1% fee— so you can access your cash sooner.
Why Use Faster Payments?
- Boost Your Cash Flows: get your money sooner so you can reinvest or cover expenses without delay.
- Reduce Payment Processing Anxiety: Faster Payments can help you avoid the typical waiting period for standard ACH transfers.
- Easy One-Click Acceptance: opt in through a simple link in your email or via the Vendor Portal. No complicated setup or additional documentation needed.
How It Works
Payment Initiation
Your customer schedules a payment through Ramp Bill Pay. Normally, this payment would arrive via a standard ACH transfer in about 3–5 business days.
Faster Payment Offer
If your payment is eligible, you’ll receive the offer in an email or see the offer in your Vendor Portal (if you have an account) in your invoice details. Not all payments are eligible.
Accepting the Offer
Click the link in the email or use the button in the Vendor Portal to confirm your payment date and that you want to accept Faster Payments. Please also confirm the destination account bank details where the payment will be deposited.
- You do not need a Vendor Portal account to accept the offer; you can accept it directly from the email. However, having an account offers additional visibility into your payment statuses and simplifies future Faster Payments
- Offer timeline: If you accept the offer after 4PM ET, your payment may arrive the next business day. This ensures we have enough time to process the same-day ACH in the appropriate window.
- Offer expiration: The offer typically expires once the faster payment has been initiated (usually about 48 hours from when the payment is scheduled). After that window, your payment will continue under the normal ACH schedule.
- Bank details: You’ll have a chance to review your account information when you accept the Faster Payments offer. If there’s an issue after you’ve confirmed, please contact our Support Team immediately for assistance.
Transfer
Once you accept the offer, Ramp switches the payment from the standard ACH to same-day ACH for faster delivery. You’ll receive the funds in your bank account (minus the 1% fee).
Your customer will be able to see that the payment was delivered earlier than scheduled, but not that you've elected to use Faster Payments.
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- If you accept after 4 PM ET, your payment may arrive the next business day.
How much does Faster Payments cost
We charge a 1% fee, which is deducted from the final payment amount. There are no other hidden charges.