Ramp, a well-known name in corporate cards and expense management, is expanding its offerings with Ramp Treasury, a new product allowing users to earn interest on stored cash. While most businesses linked to Ramp currently earn 0.00% interest on deposits, Ramp Treasury offers a 2.5% earning on cash held in business accounts or potentially higher yields through money market funds. The initiative enhances customer service without positioning Ramp as a digital bank, as it partners with existing banks like First Internet Bank of Indiana for deposit accounts.
Ramp Treasury allows customers to earn interest on their cash, with businesses storing money in accounts yielding 2.5%, aimed at enhancing customer financial management.
By partnering with banks, Ramp offers Treasury accounts without becoming a digital bank itself, enhancing service while navigating a competitive financial landscape.
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