Ramp is a financial technology company that offers corporate cards and expense management software for businesses. It is not a bank, but it provides charge cards, a business deposit account, and a suite of spend management tools under a single platform.
The company’s primary product began as a corporate card focused on controlling business spending. It has since expanded into bill pay, vendor management, employee reimbursements, and a linked business account.
What the product is structurally
Ramp’s core structure is a corporate charge card program, not a traditional banking relationship. The Ramp card is Visa-branded and issued through Sutton Bank, a member of the FDIC. As a charge card, it requires full payment of the outstanding balance each billing cycle — there is no revolving credit line.
Ramp Business Account, launched in 2023, provides deposit functionality. Balances are held at partner banks through a sweep arrangement and are FDIC-insured. This is distinct from the card product and is not required to use the card.
The spend management software connects to accounting platforms such as QuickBooks, Xero, NetSuite, and Sage. It provides automated transaction categorization, receipt matching, and approval workflows. These integrations are central to the platform’s value proposition for finance teams.
How it works in practice
Ramp sets credit limits based on the business’s cash balance rather than a personal credit score check. The limit is typically a percentage of the company’s average daily bank balance, which Ramp assesses by linking to an external business bank account.
Businesses can issue unlimited virtual and physical cards to employees, each with individual spending limits and category restrictions. These controls are configurable in real time from the admin dashboard.
Bill pay allows businesses to pay vendors via ACH or check directly through the Ramp platform. The software captures and processes invoices and matches them to accounting records. Employee expense reimbursements route through the same system.
The Ramp Intelligence layer uses transaction data to surface duplicate subscriptions, unused software, and opportunities to renegotiate vendor contracts. This is marketed as a cost-saving tool layer.
Fees and pricing mechanics
Ramp does not charge annual fees, foreign transaction fees, or card issuance fees. The platform generates revenue primarily through interchange fees paid by merchants during card transactions.
Ramp earns 1.5% cashback on all purchases, distributed back to the business monthly. There is no tiered reward structure — the rate is flat across all spending categories.
Ramp Plus and Ramp Enterprise are paid subscription tiers, designed for larger organizations needing advanced controls, custom ERP integrations, or dedicated account management. Pricing for these tiers is bespoke and negotiated directly.
Limits, eligibility, and availability
Ramp is available to U.S.-registered businesses. The application requires an EIN, a business bank account that Ramp can assess to determine the credit limit, and beneficial ownership information. Personal credit history is not a primary factor.
There is no minimum revenue requirement, but companies with very low bank balances may receive a limited initial credit limit. Sole proprietors operating without a dedicated business bank account may face challenges during onboarding.
The service is not available for personal use or for businesses operating in certain regulated industries. International card usage is supported, but the deposit account and bill pay features are currently limited to U.S.-based operations.
Tradeoffs, risks, or limitations
The charge card model means businesses must pay the full balance at the end of each billing cycle. Companies managing variable or irregular cash flow may find this structure limiting compared to a revolving credit facility.
Ramp’s credit limits are directly tied to the external bank balance it monitors. A drop in available business cash can trigger an automatic reduction in the card limit, which can disrupt operations if spending needs remain elevated.
Bill pay and reimbursements route through Ramp’s platform rather than a traditional banking relationship. Businesses that need the resilience of a full-service bank account alongside their corporate card typically maintain a separate banking relationship.
The platform is optimized for finance teams managing significant transaction volume. Businesses with simple spending needs and few employees may find the feature set larger than their operational requirements.
See also: Ramp Corporate Card Review, Brex Review, Mercury Review
