Ramp Banking Automations

Setting up automations can feel a bit complex at first, so we’ve provided detailed instructions and examples to guide you through the process. Take a moment to review the steps carefully to ensure your automations work exactly as you expect. When setting up an automation, you will also see a summary of the expected behavior.

You can set up automations by going to Banking tab and clicking "Automations" in the top right.

Note: Ramp Reserve Accounts can't be selected as a source account for Ramp Banking automations because those funds are locked to increase your card limit. If you need automations, use a regular Ramp Checking Account instead.

Ramp Banking Accounts page with Automations button highlighted

1. Target balance automation

The Target Balance Automation ensures your Checking Account balance is maintained at a specific range. Ramp will automatically transfer funds from your linked bank account or Ramp Investment Account to your desired target balance when your balance drops below your defined minimum balance.

Steps to Set Up a Target Balance Automation:

1.Choose a Target Balance: This is the balance you want to maintain in your Ramp Checking Account.

2.Set a Minimum Balance: If the balance dips below this amount, funds will be transferred to the target balance. To avoid many automated transfers with small dollar value, we recommend setting a threshold less than 90% of target balance.Ramp checks your balance whenever it changes (e.g., after a payment) and when the automation is created or updated.

Select Funding Source: Choose to top up your Checking Account from your linked bank account or Ramp Investment Account

How It Works:

•Target Balance: $50,000

•Trigger: Balance falls below $10,000

•Current Balance: $20,000

You make a bill payment of $15,000, dropping your balance to $5,000. Ramp initiates a transfer of**$45,000**to bring your balance back to $50,000.

Note that if your funding source is a linked bank account, transfers triggered by the automation are subject to Ramp's deposit hold fraud policy and may take 0-4 business days to land in your checking account. Please take this into account as you are setting your automation.

2. Sweep automation

The Sweep Automation saves you time calculating and making manual transfers, helping optimize your yield by sweeping any excess cash above a set threshold from Checking Account to Investment Account.

Steps to Set Up a Sweep Automation:

1.Select Checking Account: This is only applicable if you have more than one Checking Account.

2.Set a Maximum Balance: Any money above this amount will be moved to your Investment Account. If you have a Target Balance Automation, the amount here must be greater than the minimum balance setRamp checks your balance whenever it changes (e.g., after a payment) and when the automation is created or updated.

How It Works:

•Maximum Account Balance: $60,000

•Current Balance: $55,000

You received an external deposit of $15,000, bringing your Checking Account balance to $70,000. Ramp initiates a transfer of**$10,000**to your Investment Account bring your balance back to $60,000.

Note that there is a minimum buy order amount of $1,000, so automations will not trigger any transfers with amounts less than $1,000.

3. Recurring transfer automation

A Recurring Transfer Automation schedules regular deposits to/from your Checking Account at intervals you choose. This is ideal for businesses with predictable cash flow needs.

Steps to Set Up a Recurring Transfer Automation:

1.Select a Transfer Amount: Decide how much money you want to transfer regularly.

Select Accounts for From and To: Decide where to draw and deposit funds into.

3.Set a Schedule: Choose how often the transfer occurs (e.g., weekly, bi-weekly, monthly) and start date.

How It Works:

•Transfer Amount: $50,000

•Schedule: Every two weeks

Ramp will transfer**$50,000**from your linked bank account to your Checking Account every two weeks.

See table below for all supported automations:

Evaluation Type	Frequency Type	Example
`Fixed`	`Recurring`	Transfer $20 every 2 weeks from External account → Business account
`Fixed`	`Recurring`	Transfer $20 every 2 weeks from Business account → External account
`Fixed`	`Recurring`	Transfer $20 every 2 weeks from Business account → Investment account
`Fixed`	`Recurring`	Transfer $20 every 2 weeks from Investment account → Business account
`Target Balance`	`Balance Change`	Whenever I first create this automation or available balance changes in the Business account, if my Business account available balance + pending deposits + pending sell orders is below $50 (trigger amount), make a transfer from my Investment account to top my Business account balance up to $70 (target amount)
`Target Balance`	`Balance Change`	Whenever I first create this automation or my Business account available balance changes, if my Business account available balance + pending deposits + pending sell orders is below $50 (trigger amount), make a transfer from my External account to top my Business account balance up to $70 (target amount)
`Sweep`	`Balance Change`	Whenever I first create this automation or my Business account available balance exceeds $20, move excess funds from my Business accountto my Investment Account

Automation Evaluation: Based on the automation policy and current state of their Banking account balances, determine if a transfer is created or not.

Target Balance : If the destination falls below a X ( trigger amount) , automation will top-up the destination account to Y (target amount) by withdrawing funds from the source
Sweep : When the source account’s balance exceeds a X (sweep threshold) , automation will transfer any amount over X to the destination account
Fixed : Automation will transfer a fixed amount of money from the source to the destination

Automation Frequency: When an automation is evaluated.

Recurring : Every day at 1am EST
Balance Change : Every time an automation is created or updated, or when the available balance changes in the Checking Account