No-fee Faster Payments with Ramp Checking Account

Overview

Ramp offers no-fee Faster Payments to eligible vendors for eligible payments. To receive them, set up or use an existing Ramp Checking Account, add it as a payment method in Vendor Portal, and ask your customer's Bill Pay contact to update your vendor record so payments route to the Ramp Checking Account.

After your customer updates and accepts the new payment details, eligible payments sent to your Ramp Checking Account may include Faster Payment offers that you can review and accept at no fee.

Eligibility

No-fee Faster Payments are available only to eligible vendors and eligible payments. Eligibility is not guaranteed for every vendor, customer, invoice, or payment. To learn how standard Faster Payments offers work, see Faster Payments.

To qualify for no-fee Faster Payment offers, eligible payments must be routed to your Ramp Checking Account. If your customer keeps using your old payment details, payments will continue through standard ACH and will not qualify for the no-fee Faster Payments promotion.

Set up no-fee faster payments

If you do not have a Ramp Checking Account, complete Ramp's application and open a Ramp Checking Account before adding it to Vendor Portal. If you already have a Ramp Checking Account, skip the application and account-opening steps and add your existing account as a payment method in Vendor Portal.

  1. Complete Ramp's application. This unlocks the full Ramp platform for your business.
  2. Open a Ramp Checking Account. Eligible Faster Payments will be deposited into this account.
  3. Add your Ramp Checking Account in Vendor Portal. Sign in to Vendor Portal from the Ramp sign-in page , then go to Vendor profile > Payment details and add your Ramp Checking Account as a payment method.
  4. Share the new payment details with your customer's Bill Pay contact. They need these details to route payments correctly through Ramp Bill Pay.
  5. Ask your customer to update and accept your vendor record. Your customer must update or accept the new payment details in their Bill Pay system before payments route to your Ramp Checking Account.

Once your customer updates your vendor record, future eligible payments can route to your Ramp Checking Account and may include no-fee Faster Payment offers.

Accept no-fee faster payment offers

After eligible payments start arriving at your Ramp Checking Account, review each Faster Payment offer before accepting it. Accepted eligible offers deposit funds faster into your Ramp Checking Account with no fee.

If a payment does not show a no-fee Faster Payment offer, it may not be eligible, your customer may still be using old payment details, or your customer may not have accepted the updated vendor record yet.

Frequently asked questions

Can I use an existing Ramp Checking Account?

Yes. If you already have a Ramp Checking Account, you can skip Ramp's application and account-opening steps. Add the existing Ramp Checking Account as a payment method in Vendor Portal, then ask your customer's Bill Pay contact to update and accept the new payment details.

What happens if my customer keeps using my old payment details?

Payments sent to your old account details will continue through standard ACH and will not qualify for the no-fee Faster Payments promotion. Your customer must update or accept your Ramp Checking Account details in their Bill Pay system before payments can route to the new account.