As a Ramp customer, you’re required to provide a connection to your business’s bank account. This can come in the form of a direct or a manual connection. Read more below about why we do it and how it works.
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Bank Connections
Why do we need a bank connection
Ramp uses data from your bank account to underwrite and better understand your business. When a customer links a business account, Ramp has access to a variety of information about the account, the balance and the transactions. It’s the best way to receive a higher credit limit. Learn more about Ramp Business Limits here.
How secure is it?
Our banking connection partners use bank-grade encryption to protect your data and we will never have access to your credentials.
How does Ramp keep my information secure?
Connecting Directly
How do I connect my bank account directly
If you’re already a Ramp customer, follow these steps to connect a bank account to your Ramp business:
- Navigate to Settings > Financial Accounts
- Click on ‘Add account’
- Click on‘ Add bank account’
- Search for or select your banking institution and follow the prompts to connect your account
What if my bank account uses an OTP or an MFA
Unfortunately we cannot link to bank accounts directly if your account uses an OTP or has MFA enabled. You can use the manual bank account connection process, which consists of providing a bank statement.
What if I have trouble connecting an account from a listed banking institution
Sometimes direct bank linking will fail even if the banking institution is listed as ‘covered’. If you’ve tried and failed to connect an account from a listed banking institution, use the manual bank account connection process.
Having other issues with your direct connection
If you're having issues with your bank connection, try these troubleshooting suggestions. If connection issues continue, please use the manual bank account connection process.
Connecting Manually
Sometimes we require a customer to connect their bank account manually if the direct connection process doesn’t work.
How do I connect my bank account manually?
If you’re already a Ramp customer, follow these steps to connect a bank account manually to your Ramp business:
- Navigate to Settings > Financial Accounts
- Click on ‘Add account’
- Click on‘ Add bank account’
- Click on 'Add Account Details'
- Enter the details requested and click ‘Connect Account’
- Upload the most recent bank statement for the account you are selecting by dropping the files into the box or click on it to browse your files
- Make sure the statement includes your cash balance and verifies you own the account
- The statement must be in PDF format - screenshots won’t suffice!
- We’ll assess the document and verify the account. If there are any issues, our Risk Operations team will contact you directly.
Where can I find my bank statements?
Log into your business’s banking portal and look for the term ‘Statement’. Sometimes it’s located under a section titled ‘My Documents’. Download your three current bank statements in PDF form, making sure the date range is as recent as possible.
Verifying my bank account
We require debit checks or account verification of all bank accounts you use to make payments to Ramp. We require this when you first onboard, as well as when you switch the account you use to make payments.
What’s the debit check process?
To complete a debit check, Ramp initiates two small deposits and one withdrawal to your bank account. The withdrawal equals the sum of the deposits, so your balance remains the same in the end. Four business days later when the transactions clear, you log into your bank account to get the amount of the deposits and then verify these amounts in the Ramp dashboard.
Why does Ramp require debit checks?
We do this to prevent fraud and reduce the chance that a payment you make fails.
How does this affect my limit?
When you successfully verify your bank account you’ll use to make payments, your full limit will be unlocked. Read more about Ramp Business Limits here.
How long does it take?
It takes four business days from when you initiate a debit check to when the transfer settles and you can verify your account(s).