Ramp Self-Directed Investment Account Overview

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

Overview

Ramp no longer supports opening new Ramp Investment Account (Self-Directed) accounts. Businesses with an existing Ramp Investment Account (Self-Directed) can continue using it to invest cash into FUGXX, a money market fund that seeks to provide high liquidity and a competitive yield while investing in short-term U.S. Treasury obligations and government securities. See the prospectus here for more details. If you want to open a new investment account in Ramp, see Ramp Managed Investment Account Overview.

How does a self-directed investment account work?

Funds in your Ramp Checking Account can be used immediately during market hours or queued for share purchases in the Investment Account outside of market hours. Trades placed during market hours are typically executed immediately, while those placed after hours will settle on the next business day.

To place a buy or sell order, go to Ramp Banking > Move money:

To invest in FUGXX, your total position must be at least $1,000. This includes initial investments and ongoing balances. If your overall investment falls below $1,000, FUGXX may notify Apex Clearing Corporation to close your position. This decision is at FUGXX’s discretion based on balance thresholds. If this happens your shares will be sold, and the proceeds will be returned to your Ramp Checking Account.

After your initial investment of $1,000, you can invest more with a minimum buy order size of $5. The minimum sell order size is also $5. Investment limits are tied to your available cash balance. Ramp does not impose additional limits on FUGXX investments.

Buy Ordersare immediately placed and typically filled at the close of a trading day. For Sell Orders, funds are typically available in your Ramp Checking Account balance at the end of the next trading day (~4-5pm EST) after the sell order is completed in the Investment Account.

Dividends can either be automatically reinvested into additional shares of FUGXX or be paid out to your Ramp Checking Account (usually available by the end of the second business day of each month). You can configure this under "Deposit dividends in" by going to Banking > Overview >Investment Account> All time earnings. Use the Deposit dividends in setting to choose between Checking Account (cash) for cash deposits and Investment Account (DRIP) for reinvestments.

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.

Frequently asked questions

Are there any fees associated with using the Ramp investment account (self-directed)?

Ramp does not charge account fees. FUGXX does have expense ratios that impact returns. Please review the fund prospectus for details.

Can I open a new self-directed investment account?

No. Ramp no longer supports opening new Ramp Investment Account (Self-Directed) accounts. To open a new investment account in Ramp, see Ramp Managed Investment Account Overview.

Where can I view my account activity and statements?

You can view detailed activity and download statements in Documents under Ramp Banking.

Is the Ramp investment account insured?

The Ramp 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.

Investments in FUGXX are not FDIC-insured, but the fund is backed by high-quality government securities. Please refer to the FUGXX prospectus for more details.

Can I invest in multiple securities or funds?

No, right now the Ramp Investment Account only supports investments in FUGXX.

How can I see my apex account number?

Your account number is available on the Ramp Investment Account page under Portfolio Details.

How is dividend/yield calculated?

You only earn yield based on your available balance at 12am UTC. Funds that are still processing do not earn yield.

Can I transfer funds from my external bank account directly into my Ramp investment account?

No, you can only fund the Ramp Investment Account from your Ramp Checking 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:

How can I close my investment account?

Go to Banking > Overview > select your Investment Account > click on the menu icon in top right > "Close account". The Ramp Investment Account balance must be zero for the account to be closed.

Investment Account menu showing Automations, Rename account, and Close account options

How can I change my account details, like the account owner home address, or email address, or provide additional compliance information that's been requested?

For changes to account details, compliance information, or other inquiries, create a support ticket and select Ramp Investment Account. See How to contact Ramp's Support team.

Why are 1099 forms not showing up?

1099 forms are typically available in-app by the end of February each year. Corporations (entity type) are exempt from 1099 reporting since they maintain their own taxes.

I have other questions about my Ramp investment account

For assistance, create a support ticket and select Ramp Investment Account. See How to contact Ramp's Support team.