Ramp Checking Account Multi-Entity Setup

Multi-entity businesses can open separate Ramp Checking Accounts for each verified sub-entity. This helps maintain clear legal separation, simplify accounting and reporting, and ensure statements and documentation reflect the correct entity name.

This article walks you through how to verify a sub-entity and set up a Ramp Checking Account for a verified sub-entity.

Key notes

• Only verified entities can hold Ramp Checking Accounts.
• Users with the BUSINESS_OWNER or BUSINESS_ADMIN role can open Ramp Checking Accounts for sub-entities.
• There can be multiple Ramp Checking Accounts per entity .
• There can only be one Ramp Investment Account per entity .
• Non-US sub-entities can’t open Ramp Checking Accounts.

Step 1: Add a sub-entity

If the sub-entity does not yet exist in Ramp:

1. Go to Company → Entities .
2. Click Create new entity .
3. Enter the required details, including the EIN and linked bank account.
4. Complete setup.

Once created, proceed to verification.

Step 2: Complete KYB verification

To verify a sub-entity:

1. Go to Banking → Overview → New .
2. Select Checking Account or Investment Account .
3. Choose the entity you want to verify.
4. If the entity is not already verified, click Start verification .

You’ll be asked to provide entity information and key individual information. At least one individual must have the role of Representative.

• Entity information: Legal entity name, business description, business address, state of incorporation, tax identification number (EIN), website and phone number, and parent company ownership details, if applicable
• Key individual information: Name, email, title, phone number, date of birth, role, address, and SSN

Most verifications are completed within minutes. Some may require manual review and take 24 to 48 hours. You can check the status under Company → Entities. The Under KYB review badge disappears once the entity is approved.

Step 3: Open a checking account or investment account

To open a Checking Account:

1. Go to Banking → Overview → New .
2. Select Checking Account .
3. Choose the verified sub-entity.
4. Click Create Account .

To open an Investment Account:

1. Go to Banking → Overview → New .
2. Select Investment Account .
3. Choose the verified sub-entity.
4. Complete the additional onboarding steps required by our brokerage partner.

Transfer funds and update settings (if applicable)

If you are undergoing a KYB Refresh:

1. Transfer funds from the prior Checking Account associated with the unverified sub-entity to the new Checking Account associated with the verified sub-entity.
2. Update the following settings:

• Default payment source for cards, reimbursements, and subscriptions
• Bill Pay settings
• Debit settings and originator IDs
• Automations, such as target balance or recurring transfers

3. Update bank details anywhere they are used, including with vendors, customers, and payroll providers.
4. Close the prior Checking Account.

Frequently asked questions

How long does KYB verification take?

Most applications are approved within minutes. Some may require manual review and take up to 24 to 48 hours.

Where can I check verification status?

Go to Company → Entities. Once verification is complete, the Under KYB review badge no longer appears.

Can I reassign account ownership to another entity later?

No. Account ownership can’t be reassigned after creation, so make sure you select the correct entity before opening the account.

How does accounting work for multi-entity setups?

Payment activity appears under Accounting → Banking. Once sync settings are configured, transactions can sync to your ERP as usual.