Ramp Treasury for Idle Deal Cash: Checking vs Investment Account
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Between closing and the next quarterly distribution, a deal account can hold real cash. Ramp offers two places for it: a checking account and an investment account. They have different protections. This post sets them side by side so a sponsor can decide what goes where. Facts come from Ramp's own pages, read November 3, 2026.
The two accounts
Ramp Checking Account. Ramp is not a bank. When you open this account, Ramp says you open a deposit account at First Internet Bank of Indiana, Member FDIC. Ramp says deposits can receive FDIC coverage through IntraFi's ICS service, and that pass-through coverage depends on titling and recordkeeping conditions. Funds arrive by ACH, wire or an instant RTP payment and usually settle the same day, though Ramp says they can take up to five business days.
Ramp Investment Account. This is an advisory account offered by Ramp Advisory LLC with Apex Clearing Corporation providing brokerage and custody. Ramp says it is not FDIC-insured, is not a deposit product and may lose value. SIPC covers up to $500,000, including $250,000 in cash, if the broker-dealer fails, but it does not cover investment losses.
Rates and costs
Ramp's page lists 2% APY on eligible checking funds as of November 3, 2026 and says the rate is variable. For the investment account it advertises a yield of up to 4.63%, described as a 1-day SEC yield or yield to maturity net of an advisory fee of up to 0.15%, and says that is not a guarantee of future returns. Rates move, so read the page on the day you decide.
Access to cash
Ramp says the short-term balance in the investment account is accessible as early as the same day, while withdrawals beyond that may require selling long-term holdings, which typically settle in two business days. A total position under $5,000 may be sold and returned to checking.
How a deal might use them
- Operating cash and the next distribution: checking, because you need it on a known date and want deposit protection.
- Reserves you will not touch for months: only if your lender and operating agreement allow it, and only an amount you can see move in value. Ask your own attorney.
- Never investor purchase money. Investors wire into escrow at Enterprise Bank & Trust. That money is not in this account.
Before moving cash, set who can approve payments: two-person approval on a deal account. For the insurance rules, read FDIC limits for a deal account. For the Mercury version, see Mercury Treasury for real estate reserves.
Getting started
DoorRaise suggests Ramp when a deal keeps $25,000 or more after closing and Mercury under that; the sponsor chooses. With Ramp, distributions go through DoorKeeping's ACH payments or a payout file you upload to Ramp. Apply for Ramp or open a Mercury account. DoorRaise may earn a referral reward if you sign up through these links: for Mercury, the deal company gets $250 and DoorRaise gets $250 once the account receives $10,000 within 90 days, and Ramp may pay a referral reward. A new deal LLC cannot open Ramp before closing (Ramp needs at least $25,000 in cash), so it opens Mercury first to receive the closing funds and can move to Ramp after closing.
How DoorRaise fits in
DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), and verifies that every investor is accredited. Investors' purchase money goes into escrow at Enterprise Bank & Trust by wire only, and wire instructions appear once escrow is open. The deal's operating account at Mercury or Ramp is a separate account that you open for the LLC and use after closing. Fees: $1,500 to set up (non-refundable), then $5,000 a year from closing (only if the deal closes). See pricing or how it works.
FAQ
Is Ramp a bank?
No. Ramp says its checking account is a deposit account at First Internet Bank of Indiana, Member FDIC.
Is the Ramp investment account insured?
Ramp says it is not FDIC-insured and may lose value. SIPC protects against broker-dealer failure up to its limits, not against market losses.
What does Ramp require to apply?
Ramp's support page says a U.S. corporation, LLC or LP with a physical U.S. address, an EIN and at least $25,000 in cash across linked U.S. business bank accounts.
Sources
- Ramp: Treasury
- Ramp support: applying and signing up (U.S. based)
- FDIC: understanding deposit insurance
This article is general information as of November 2026, not legal, tax, banking or investment advice. Provider details come from each provider's own public pages and official sources, read on November 3, 2026, and change often, so confirm them before you apply. Ask your own lawyer and accountant. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.