This is one of our top picks in the category so we recommend it over others (you're on the right page), read below to learn why we love and recommend it! ⤵
This is one of the better tools in its category, see below if this tool is right for you! ⤵
Ramp is our top pick in the expense management category for businesses that consistently hold at least $25K in their bank account. If that’s you, Ramp is an absolute winner—hands down. It outshines Brex and Expensify by miles.
We believe there are better options available in this category, read below to learn what they do well, and what they could do better. ⤵
The spend management platform for mid-size teams (customizable virtual cards, budgeting, auto-reconciling, and expense reimbursement).
Ramp is one of the clear leaders in the spend/expense management, budgeting space, and accounting automation space with a slightly different focus than that of Divvy. (Oh and it's totally free 👀)
They have a great UI/UX, tons of reporting/insights features, and a super clean and fast search functionality to find exactly what you're looking for:
One bit that I noticed when using Ramp is that they are a bit more focused on SMS interactions instead of having a fully-featured mobile app (unlike that of Divvy for example), Ramp only has an iOS app and it's mainly just for taking photos of receipts and matching transactions.
This might be a positive for those who have employees that aren't as tech-savvy, and you just need them to text a receipt in for it to tie to the expense management side of things (something that Divvy doesn't allow for).
Ramp works great in businesses that require giving employee cards, either virtual or physical corporate cards. You can easily add an employee to Ramp, and they can immediately get an account and a physical corporate card sent to them, while you have full ability to set a spend limit on the card.
The rewards are pretty standard with others in the space, getting around up-to 1.5% on most categories, with a bit more in certain categories (higher % when making payments weekly—less if made bi-weekly or monthly).
They do although have slightly higher requirements than that of BILL Spend & Expense (Divvy). You need to have around $25K sitting in your business bank account at the time of applying in order to be approved, which might be tough for businesses that don't really need to be sitting on cash in the bank. But even so, keep in mind that your credit limit is going to be relative to how much is in your bank account, so we still recommend that businesses who are going to have $50–100K sitting in their business bank accounts at all times consider this based on the credit limit you'd get otherwise.
All-in-all, they are focused a bit more broadly than that of BILL Spend & Expense (Divvy), moving more into the accounting automation side of things and integrating with a few more accounting tools natively. They really have an impressive suite of tools.
If you're a larger team, apply for Ramp using this link. Just remember, you need to have $25K in your bank account to get approved.
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Since Ramp is a corporate card, your personal credit score isn't taken into account and no credit check is required. Their underwriter is making the approval decision based on funds available in your company bank account (like Mercury Bank). You must have at-least $25,000 in your bank account in order to be approved for Ramp.
Ramp uses an underwriter that looks at the funds you have in your corporate bank account (like Mercury Bank) to determine your approved credit limit. They will base this your credit limit on this account balance, so if your account value drops for months, Ramp may reduce your credit limit automatically to a lower amount.
On a $25,000 balance, your limit will likely be less than $5–10K, although you can make an over-payment to get a larger credit limit if you need to make a large purchase.
The Ramp card uses the Visa network, which is arguably the best network to use (even over MasterCard) for these spend and expense platforms because the Visa network allows for restricting purchases based on spend category, unlike MasterCard. This is why BILL Spend & Expense has also switched over to the Visa network from MasterCard.
Ramp is currently US only, if you ask Google or other sites, you'll hear that Ramp Cards work in Canada and other countries, meaning that you can use the in those countries, but Ramp only works currently for US-Based companies.
We've tracked and verified the above companies are using this software in their team's stack.
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