Ramp Checking Account Overview

Note: This article primarily applies to Ramp Administrators and Owners.

Overview

The Ramp Checking Account is a deposit account where you can securely store operating funds, grow those funds, and use the funds to quickly and easily pay Ramp card statements, bill payments, and reimbursements. It is a deposit account offered through First Internet Bank of Indiana, Member FDIC (FIB). Ramp is not a bank, and all bank services are provided by FIB. Check out video walkthroughs of Ramp Banking overview and Product Demo. Ramp Checking Account was previously known as Ramp Business Account, and Ramp Banking was previously known as Ramp Treasury.

Use the Ramp mobile app to view balances, move money, access account details, review activity, download bank letters, and deposit checks for your Ramp Checking Account.

Why should I open a Ramp Checking Account?

Ramp Checking Account‡ offers a way to earn interest on eligible funds while saving time on cash management and keeping your cash secure and ready to pay bills on time. You can use it to pay card statements, bill payments, and reimbursements, as well as collect revenue directly using your ACH details. You can allow all debits or add specific originator IDs for more control over who can withdraw funds by configuring your debit settings here.

How do I set up a Ramp Checking Account?

  1. Navigate to the Banking tab and click “Open a free account”
  2. Choose how much you want to transfer
  3. Select the linked bank account you want to transfer from and click “Initiate Deposit”. There is also an option to send a wire transfer (same day)
  4. Option to configure your debit settings and set Checking Account as your default payment source. You can also configure your sync settings under Accounting > Settings > Sync Settings > Banking . For more details, see Ramp Banking Accounting .

Once your transfer completes, eligible funds will begin earning interest, and you can use the funds to pay bills through Ramp. You have the flexibility to set up multiple Ramp Checking Accounts to manage your funds in a way that best suits your business needs.

Note that due to restrictions from our partner banks, businesses in certain industries may not be eligible.

How do I make transfers into the Ramp Checking Account?

There are several ways to fund your Ramp Checking Account. They can be split into two categories:

Manual transfers:

There are two different options to make a one-time deposit into the Checking Account

1. ACH deposits (initiated within Ramp)

To transfer money to the Checking Account from one of your linked bank accounts, click Move money. From there, you can select which bank account you would like to withdraw from and what amount you would like to transfer. Funds can take 0-4 business days to become available in the Checking Account, as they are subject to deposit holds. We recommend sending an external transfer if you need to fund your account urgently (see below).

Funds from ACH deposits may appear in your total balance before they are available to move or spend. When a deposit is on hold, it’s credited to your account but not yet available for use. Your available balance reflects only the funds you can move or spend right now, while amounts still on hold will show as unavailable until the deposit hold clears (typically within 0–4 business days).

Note: You are only able to make ACH deposits from a linked commercial / business bank account. We do not support transfers from consumer bank accounts at this time.

2. ACH credit, wire or real time payment transfer

To make a domestic wire transfer, real time payment, and/or ACH credit pushed from any bank account into your Checking Account, navigate to your Checking Account > Account Details (click menu icon to download PDF) to find the Account / Routing numbers and initiate the transfer from your bank. The daily cutoff time for Ramp to recognize inbound wire transfers is 5pm ET. These payment rails usually settle within the same day (faster than ACH deposits) but may incur fees from other institutions (not charged by Ramp).

We currently do not support international wire transfers into Ramp Checking Account (First Internet Bank of Indiana).

Note that the above all need to be initiated in external account, outside of Ramp.

3. SEPA and USDC deposits

To fund your Ramp Checking Account using SEPA (EUR) or USDC, go to Checking Account → Account details and select SEPA or USDC from the funding dropdown to view the instructions for that rail. For SEPA, copy the IBAN and BIC into your bank’s transfer flow to send a SEPA payment in EUR. For USDC, use the wallet address or QR code shown in Ramp and send USDC on Base from your crypto wallet. Ramp will convert these deposits so they post as USD in your Ramp Checking Account with no fees, and transfers typically settle same day if initiated before 4 pm ET.

Note: this funding option is not available to businesses in NY State, and USDC transfers are not reversible.

4. Cashback redemption within Ramp

To redeem your Ramp cashback directly into your Ramp Checking Account as usable operating cash, go to Company → Rewards, select Initiate deposit under Deposit cashback, enter the amount. Funds will appear in your account right away. If you don’t yet have a Ramp Checking Account, you can open one during this flow. Read more under How to use cashback rewards. Notes: redemptions are USD‑only, and for multi‑entity companies, cashback is pooled and redeemed into the single Checking Account you select.

Automated transfers (automation):

There are two different options to make automated ACH deposits from linked external bank accounts into the Ramp Checking Account: Target Balance and Recurring Transfers.

You can set a minimum target balance you want to maintain in your Checking Account to ensure you have sufficient funds to pay off card statements or bills. Or, you can set a maximum target balance you want to maintain in your external bank account(s) to sweep any excess cash into your Checking Account for daily operations and/or earnings maximization.

You can also set a recurring transfer to schedule regular deposits to your Checking Account at defined intervals.

Set up here. For more detailed instructions, see Ramp Banking Automations.

How do I make transfers from the Ramp Checking Account?

Send payment via Ramp

Currently, you can send money out of the Ramp Checking Account via Ramp Bill Pay or Ramp Cards (paying off your card statement or reimbursements). You can select your Ramp Checking Account under 'Pay from account' when processing a bill.

For bill payments, we offer unlimited, free same-day ACH, providing peace of mind that your vendors receive funds the same day (single transactions exceeding $1 million will be processed by NACHA on the next business day). It is completely free to send domestic and international SWIFT wire transfers. You can also send real-time payments (RTP) to supported U.S. banks for instant delivery—typically within minutes—up to $1 million per transaction 24/7/365.

ACH or wire to linked bank account(s) on Ramp

Click "Move money" to transfer funds from your Ramp Checking Account to any linked bank account(s) in Ramp via ACH or wires. For ACH transfers, the payment settlement time depends on the receiving entity. For wires, the payment usually settles same-day if initiated before cutoff time at 5pm EST on a business day. Ramp does not charge any wire fees.

ACH or wire to unlinked bank account(s) outside of Ramp

Click "Move money" > Send money tab to transfer funds from your Ramp Checking Account to any bank account(s) via ACH or wires. Select an existing vendor or create one in the same drawer (basic: fill out destination bank details and you can manage vendor details under Vendor) and select payment method. This does not require an attached bill or invoice. Both the vendors and payment creators are notified when payments are initiated and delivered

For ACH transfers, the payment settlement time depends on the receiving entity. For wires, the payment usually settles same-day if initiated before cutoff time at 5pm EST on a business day. Ramp does not charge any wire fees. If you want to send checks, use Bill Pay.

External deposits and withdrawals

External entities can deposit into and withdraw funds from your business accounts via ACH. This includes pay-ins (e.g., Stripe cashouts) and pay-outs (e.g., payroll) like a regular operating account. Pay-ins will generally be credited the same day, while pay-outs speed vary depending on the receiving entity.

You have the option to enable debit blocks to protect your funds where no one can withdraw from your account unless you allow it. Click here to configure debit settings and manage who can withdraw funds: