Ramp Managed Investment Account Overview

Ramp Banking lets businesses invest excess cash into Managed Investment Accounts. Portfolios are managed by Moment Advisors, LLC and designed to optimize yield and preserve capital, allowing you to save time and earn competitive yields with automated portfolios. This differs from the Ramp Investment Account (Self-Directed), which existing account holders can use only to invest in FUGXX (a money market fund). Managed Investment Accounts allow you to invest directly in a mix of investment options, managed by Moment’s experienced team.

How to set up a Ramp managed investment account?

1. Make sure you’ve already opened a Ramp Checking Account . If not, you can open an account in under a minute here .
2. In Ramp, go to Banking > Banking > click New in the top right > Investment Account
3. Complete the onboarding flow:

• Select your short-term cash target and investment preferences
• Review, customize, and accept your portfolio
• Review your account agreements and submit the application

4. Once you open the account, it may show as under review. Reviews can take anywhere from a few minutes up to 48 hours, after which you should be able to transfer money into your Managed Investment Account and see it in your Banking dashboard.

How does your managed investment account work?

• Funds from your Ramp Checking Account can be moved into or out of your Managed Investment Account(managed by Moment Advisors) under Move money .
• When you request a deposit into Managed Investment Account, Moment will:
  • Invest your cash into a diversified set of fixed-income products aligned with your selected strategy
  • Reinvest coupons and maturities
  • Rebalance and raise cash for withdrawals
• When you request a withdrawal from Managed Investment Account:
  • Moment will sell securities as necessary to cover the requested amount
  • Securities are typically available as cash at the end of the next business day
  • Available funds are automatically returned to your Ramp Checking Account

There are no lockups, but the timing of withdrawals is subject to market hours and settlement cycles.

What does the managed investment account invest in?

Ramp Banking portfolios are diversified, investment-grade fixed-income strategies. Depending on the specific strategy, portfolios may include the following underlying assets:

• US Treasury and Agency securities
• Investment-grade municipal bonds
• Investment-grade agency and mortgage-backed securities
• Certificates of deposit, cash sweeps, time deposits
• Investment-grade corporate bonds and commercial paper
• Repurchase agreements and other high-quality short-term instruments
• Money market mutual funds

Moment uses portfolio models to manage duration targets, sector weights, credit quality, and issuer diversification within predefined limits. Please note that Moment determines exactly which investment options after you select your strategy. You won’t be able to see an exact breakdown of where the money is invested during onboarding. After onboarding, you can view the analytics on and details of your portfolio including total value, average duration, and time to maturity under Portfolio details. You can also use Portfolio details to update your strategy after you open an account, including your cash target.

How is this different from the self-directed investment account within Ramp?

Today, you invest in a single money market fund from Invesco, who invests your funds in government debt, such as US treasuries.

With the new account, your business can select a strategy based on your risk tolerance to invest directly in a mix of mutual funds, government debt, and/or high grade corporate bonds. This is similar to what a wealth manager does for larger businesses.

The Ramp Investment Account (Managed) account is split into two portions, one with a shorter-term mutual fund strategy and another with a longer-term investment strategy that seeks higher yield. This allows you to keep a target dollar amount highly liquid for near-term needs (end-of-next-business-day liquidity), while having everything above the target invested in longer-term investment options that seek higher yields.

How can I reset my short term cash target?

In the Investment Account (Managed) account page, click "Portfolio details." In the Portfolio details drawer, click "Change strategy," update the "Cash target" to your desired threshold, then click "Save."

Effective March 2026, Managed Investment Accounts have a $50,000 minimum short-term cash target. We are making this change based on observed account performance: when short-term cash targets are set below $50,000, accounts often need to trade more frequently. That can reduce yield because of transaction costs, especially when assets are sold before maturity.

If your current target is below $50,000, it will remain unchanged unless you update it.

Allocation to the long-term bond portfolio begins only after the $50,000 minimum is met and additional cash is available to invest. If you'd like to request a target below $50,000, contact Ramp Support. Requests are reviewed on a case-by-case basis.

How do funds move in my managed investment account?

Your Managed Investment Account automatically moves money between short-term and long-term investments based on the short term cash target you set. This helps keep cash available for near-term needs while investing excess funds for higher earning potential.ow

The following examples show how funds automatically move between your short-term and long-term allocations when you deposit or withdraw cash, assuming your short-term cash target is $500K.

Depositing funds

Scenario 1: Deposit funds and final balance isbelowshort-term target

Scenario 2: Deposit funds and final balance isaboveshort-term target

Withdrawing funds

We aim to keep your short-term balance above 50% of its target. If it falls below 50% of its target, funds are liquidated from long-term allocation as needed to replenish the remaining amount.

Scenario 3: Withdraw funds and final short-term balance isgreaterthan 50% of your target

Example: Make an unexpected small payment.

Scenario 4: Withdraw funds and final short-term balance islowerthan 50% of your target

Example: Make an unexpected major vendor payment

Frequently asked questions

Who is moment?

Moment Technology Inc. (“Moment”) provides automated, institutional-grade fixed-income portfolio management for corporate cash, helping companies put excess cash to work while preserving liquidity and minimizing operational overhead. Founded by a team that built systematic credit trading desks at Citadel, Moment brings institutional execution, portfolio construction, and risk management to both treasury and the wealth and asset management ecosystem. Today, Moment powers fixed-income workflows for firms such as Edward Jones, J.P. Morgan Private Bank, and LPL Financial—clients that collectively manage over $8T in assets. The team has raised $130M+ from leading investors including Andreessen Horowitz, Index Ventures, and Lightspeed Venture Partners.

Moment Advisors, LLC is a registered investment adviser that:

• Designs the investment models used for Ramp Banking
• Uses Moment’s technology to implement models and monitor portfolios
• Reinvests, rebalances, and adjusts portfolios over time as markets change

How do Ramp, moment, and apex work together?

• Ramp
  • Provides the dashboard and user experience for onboarding, funding, viewing portfolios, and requesting withdrawals
  • Transmits customer instructions and preferences to Moment and Apex
  • Does not hold customer assets
• Apex Clearing Corporation (“Apex”)
  • Acts as broker-dealer and custodian
  • Opens and carries each Treasury brokerage account in the customer’s name
  • Executes trades, processes settlement and corporate actions, and provides statements and tax documents
  • Handles KYC and KYB compliance and account application approval
• Moment / Moment Advisors
  • Acts as investment manager for Ramp Banking portfolios
  • Uses rules-based models and its portfolio management system to generate trades
  • Oversees risk, diversification, and liquidity within each strategy

Is my managed investment account insured?

It’s important to distinguish between custody protection and market risk:

• Your Managed Investment Account, provided through our brokerage partner Apex Clearing Corporation, is protected by the Securities Investor Protection Corporation (SIPC). SIPC protection covers up to $500,000 in securities (including $250,000 in cash) in case of brokerage failure, but does not protect against market losses.
• Note that SIPC protects up to $500,000 total per customer. If you have both a Ramp Investment Account and Ramp Managed Investment Account the limit applies to the combined account values. SIPC does not protect against losses from changes in interest rates, credit events, or other market conditions.

How liquid are the funds in my managed investment account?

• You can request to move money out of Ramp Banking at any time.
• Liquidating funds from your Managed Investment Account prioritizes selling out of your short-term balance, with funds typically available at the end of the next business day.
• Liquidating funds exceeding your short-term balance requires selling fixed-income securities from your long-term strategy. These funds will also typically be available at the end of the next business day.
  • Note: in order to meet your cash raise request, some bonds may need to be liquidated before their maturity date and could return less than your original investment due to market price changes and transaction costs, and your realized return may differ from any initial yield illustration.
• Actual timing can vary based on when cash is requested, the specific securities held, market or operational conditions (e.g., periods of market stress). The expected settlement date will be shown in-app when you request the transfer.

If I already have a Ramp self-directed investment account, do I need to go through KYC/KYB again?

No — you don’t need to complete KYC again. If you already have an Investment Account, your KYC/Business verification has been completed with Apex and is already available to Moment through Alloy. To open a Managed Investment Account account, you’ll just need to review and sign two new agreements. There’s no additional identity verification step required.

Behind the scenes, Moment will run its own required compliance checks including:

• Reviewing the KYC/B information already in Alloy
• Screening for OFAC or other regulatory flags
• Completing any additional internal checks required for advisory accounts

These checks typically happen automatically and do not require any new documents or actions from you, unless something is missing or needs clarification.

Are there any tax implications if I sell before the maturity date?

Selling before maturity can create a realized gain or loss based on the sale price versus tax basis, and any interest income is generally treated as ordinary business income for tax purposes.

The exact treatment can vary depending on your business type. Consult your tax or accounting professional to understand how these rules apply to your specific structure.

Are there any fees associated with the managed investment account?

• There are no fees to open a Managed Investment Account or to submit buy or sell orders.
• We’re currently waiving the advisory fee, which is typically up to ~0.07% per year of assets under management.
• If we eventually introduce a fee, it will only apply going forward and we’ll give you advance notice.
• Any displayed earnings or yields in Ramp are net of this management fee.

What does net 30-day yield mean?

Net 30-day yield reflects your portfolio's yield over the past 30 days, net of fees. It is a standardized historical metric, so it does not predict or guarantee what you will earn in the future. The Net 30-day yield shown in Ramp may also differ from the yield shown for a specific portfolio strategy because your actual account allocation can span both short-term and long-term sleeves.

Can I change the short term cash target balance after I set it up?

Yes. In the Investment Account (Managed) account page, click "Portfolio details," then click "Change strategy" to update your "Cash target." Effective March 2026, cash target updates must be at least $50,000 unless a lower target is approved on a case-by-case basis.

Where can I view activity and statements of my managed investment account?

You can view detailed activity and download statements in Documents under Banking in your Ramp account. Apex will be listed as the carrying broker-dealer and custodian.

Why might my managed investment account value be different from my transfer amount after funding?

When you move cash into a Managed Investment Account, funds are quickly converted into underlying securities, which are priced based on current market conditions. As a result, your displayed portfolio value may be slightly lower or higher than the exact transfer amount immediately after funding due to normal, short-term market movement. These minor fluctuations are expected behavior and not an error or missing funds.

What are the different long-term strategies and what are the differences in strategies?

Our offering has 3 separate strategies:

• Reserve: Invests primarily in a mix of treasuries and government money market funds
• Reserve Plus: Invests primarily in a mix of treasuries, government money market funds, short-duration corporates and prime money market funds
• Premier: Invests primarily in a mix of short-duration corporates and prime money market funds

How can I maximize earnings in my managed investment account?

If your goal is to maximize earnings and you do not need those funds for near-term payments, keep your short-term cash target at the minimum amount that fits your operating needs. Effective March 2026, Managed Investment Accounts have a $50,000 minimum short-term cash target unless a lower target is approved on a case-by-case basis. Once that threshold is met, additional cash can be allocated to the long-term sleeve. Then choose the highest-yield strategy available within each sleeve, keeping in mind that higher-yield strategies can also come with different liquidity, duration, and risk characteristics.

Can I open more than one managed investment account?

No, we currently only support opening one. If you already have a Ramp Investment Account (Self-Directed), you can also have a Managed Investment Account.

Who is not eligible to open a Ramp investment account?

Apex, our brokerage partner, currently do not support businesses with foreign beneficial owners in the following countries:

• Africa: Algeria, Angola, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Republic of the Congo, Democratic Republic of the Congo, Côte d’Ivoire, Ethiopia, Kenya, Libya, Mali, Mozambique, Namibia, Nigeria, São Tomé and Príncipe, Somalia, South Africa, South Sudan, Sudan, Tanzania, Zimbabwe
• Asia: Afghanistan, Cambodia, Iran, Iraq, Kuwait, Laos, Lebanon, Myanmar, Nepal, North Korea, Pakistan, Palestine, Syria, Yemen
• Europe: Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, Latvia, Monaco, Russia, Ukraine, Kosovo
• North & Central America: Cuba, Haiti, Nicaragua
• South America: Guyana, Venezuela
• Oceania: Cook Islands, Niue, Papua New Guinea

Are there minimum amounts for buy or sell orders?

To invest in your Managed Investment Account, your total position must be at least $5,000. This includes initial investments and ongoing balances. If your balance falls below $5,000, Ramp may liquidate the remaining balance and return the proceeds to your Ramp Checking Account. After your initial investment of $5,000, you can invest more with a minimum deposit/withdrawal size of $50.

Is there a limit on how much I can invest in my managed investment account?

Investment limits are tied to your available cash balance. Neither Ramp nor Moment imposes additional limits on your investments.

What happens to earnings generated?

Moment automatically re-invests funds from earnings and matured securities into your long-term strategy. There is currently no option to directly transfer dividends into Ramp Checking Account, but setting a reinvestment policy is something we’d like to support in the future. You can request to move funds from Ramp Banking to your Ramp Checking Account at any time.

Note: Dividend dates may differ between Ramp and Apex statements. Ramp shows dividends based on the activity date, which is when the dividend is earned, while Apex statements show dividends based on the processing date, which is when the cash settles. This timing difference is expected and does not mean funds are missing.

How much should I invest in my Ramp investment account vs managed investment account?

The short-term cash strategy within the Managed Investment Account serves a similar purpose as the Ramp Investment Account, but with more flexibility - the Ramp Investment Account only invests in a single money market fund (FUGXX), whereas the Managed Investment Account allows you to select from options based on your investment preferences. In the Managed Investment Account, your short-term target is still invested in money market funds for near-term cash needs, but allows you to diversify amounts you allocate above that target into longer-term investment options.

How can I transfer funds from my self-directed investment account to managed investment account?

Currently, you would have to withdraw funds from your Ramp Investment Account to your Ramp Checking Account then transfer funds into your Managed Investment Account.

Is the sweep automation supported for managed investment account?

Yes, go to Automations, click Sweep and select or update the account to Managed Investment Account.

How often can I take money out?

You can take funds out anytime and as often as you need – the Managed Investment Account will consist of a short term strategy invested primarily in mutual funds and money market instruments, and a longer term strategy invested directly into fixed income securities. Both have next day access to your funds, however we suggest allocating the cash you expect needing to access over the next few months to your short term strategy, so as not to affect your overall yield.

Are there transfer fees or max amount of times I can remove money per month?

There are no transfer fees and no limit per month. Your Managed Investment Account is connected directly to your Ramp Checking Account so funds can easily flow between accounts.

What is the difference between the managed investment account and a MMF?

A money market fund invests only in ultra-short, government-backed instruments designed to maintain a stable value. The Managed Investment Account aims to achieve higher yield by opportunistically investing in a broader set of high-quality securities which refers to short-duration, investment-grade fixed income designed for capital preservation and liquidity. This generally includes:

• Short-term U.S. Treasuries backed by the full faith and credit of the U.S. government
• Short-term mutual funds which primarily invest in money market instruments and can include short-term debt securities, U.S. government securities, and repurchase agreements focused with high liquidity
• Short-duration, Investment Grade corporate bonds and highly liquid loans to corporations

Examples from the current corporate universe may include many large-cap staples, industrials, banks, utilities, and mega-cap tech/communications issuers. These names are selected for liquidity depth, strong balance sheets, and tight credit spreads.

What are the benefits of managed investment account vs t-bill ladders via TreasuryDirect?

• No manual tracking of maturity dates or laddering
• Institutional-grade diversification across fixed income instruments
• Next business day liquidity vs waiting for maturity
• Automatic reinvestment and rebalancing by Moment's team
• Integrated directly with your Ramp account - single workflow for cash management and operations

How may this product affect QSBS eligibility?

This product relates to the purchase and sale of treasury or fixed-income investment related products. Ramp and Moment Technologies are not tax advisors, but tax advisors tell us that in their experience, this activity should not directly impact the qualification of shares themselves as QSBS. With that in mind, the products acquired through our investment models are investment assets that could impact the accounting calculations and ratios necessary to qualify or remain qualified under QSBS. For that reason, we advise reaching out to your tax advisors or accounting team if there are further questions. They would be in a better position to tell you how the acquisition of investment assets may impact your company’s qualification under QSBS.

How can I close my managed investment account?

To close your Managed Investment Account, first withdraw the outstanding balance to your Ramp Checking Account. Your Managed Investment Account balance must be $0 before you can close it.

Then go to Banking >Investment Account> menu icon in the top right > Close account.

After closing your Managed Investment Account, you can still access statements under Banking >Documents as long as you do not close your Ramp Checking Account.

Accounting

For businesses using QuickBooks Online, NetSuite, Sage Intacct, or UCSV:

We support automatic syncs for Managed Investment Account activities. Refer to Ramp Investment Account (Managed) Accounting for more information.

For businesses not covered above:

Apex, the custodian, provides monthly investment statements shown in the Documents tab under Banking. Reference the monthly investment statements to create entries in your ERP directly.

Risk reminder

Investing in fixed-income securities involves risk, including possible loss of principal. Bond values can fluctuate due to changes in interest rates, credit quality, liquidity, and market conditions. Use of models and automation does not guarantee performance or prevent losses.