Wire drawdown requests

Overview

A wire drawdown request lets an authorized third party pull funds from your Ramp Checking Account by sending a request through the wire network. You may also hear this called a reverse wire, Fedwire drawdown, drawdown request, or wire pull.

Use wire drawdowns when a third party you work with, such as a payroll provider, broker, lender, or treasury partner, needs to initiate the pull from your account. You share your wire details with the third party, then control whether each request is approved manually or automatically trusted for future requests.

Set up a third party for wire drawdowns

To let a third party request wire drawdowns, share the account and routing details for the Ramp Checking Account they should pull from. No separate authorization letter is required for wire drawdowns.

1. Go to Account details for the Ramp Checking Account.
2. Reveal and copy the account and routing number, or download the wire instructions if you need to share the details as a document.
3. Share those wire details with the third party.
4. If the third party sends a small verification drawdown, review and approve it like any other wire drawdown request.

After the third party has the correct wire details, they can submit drawdown requests to Ramp for your review.

Approve or reject a wire drawdown request

Incoming wire drawdown requests appear in Ramp Banking pending approvals. Assigned approvers can open the request to review the sender, amount, and account details, then reject, approve, or approve and trust the sender.

Approve before 5:00 PM ET for same-day settlement. Approvals after that cutoff settle the next business day. Approval may be unavailable if the Ramp Checking Account balance is not enough to fulfill the wire or if you are not the next approver in the workflow.

For broader Banking approval policy setup, see Ramp Banking approvals.

Trust a sender for future wire drawdowns

Choosing Approve & trust approves the current request and trusts the sender for future wire drawdowns from the same account and routing number. Choosing Approve only approves the current request, so future requests from that sender still require approval.

Only trust senders you are confident should be able to pull funds without manual review. After a wire drawdown is fulfilled, the wire is difficult to reverse or recover.

Manage trusted wire drawdown senders

You can manage trusted wire drawdown senders from Account details. Open the account details menu, edit the account details, then review the Wire drawdowns section.

Add a trusted sender by entering the sender's account number, routing number, and nickname. Remove a trusted sender to require manual approval for future drawdown requests from that account again. If the trusted sender list is empty, each wire drawdown request requires approval.

Frequently asked questions

What is a verification drawdown or penny test?

A verification drawdown is a small wire drawdown request that a third party may send to confirm the connection works. It appears as a normal wire drawdown request for a small amount, and you approve it the same way you approve other wire drawdown requests.

Can I turn off wire drawdowns entirely?

There is no separate on/off switch for wire drawdowns. Requests from non-trusted senders require approval, so funds do not move unless an assigned approver approves the request.

Can payroll providers use wire drawdowns?

Yes. Payroll providers and other third parties can use wire drawdowns when they need to pull funds from your Ramp Checking Account. Share your wire details with the provider, then approve each request manually or trust the provider for future requests.

What if a wire drawdown request does not appear in Ramp?

Confirm with the third party that they submitted the request to the correct account and routing number. Once Ramp receives the request, it appears in Ramp Banking pending approvals for review.

Are wire drawdowns the same as ACH external debits?

No. Wire drawdowns are wire pull requests. ACH external debits use ACH debit settings and trusted vendors; for those controls, see Ramp Banking approval controls for external debits.