Businesses today are flooded with expense management solutions promising to make their lives easier–and two popular names among them are Ramp and Expensify. They dangle shiny perks in front of you, like cashback, AI-powered savings, and sleek workflows. But what if we told you that these benefits came with a catch?
Both Ramp and Expensify require you to change how you operate, forcing you to adopt their proprietary cards to unlock full access to their software. If you’ve ever felt stuck managing your business’s finances, switching to tools that lock you into rigid systems might not be the savior you’d hoped for.
So, let’s dive into a side-by-side comparison of these tools–and along the way, you’ll see why businesses are moving away from these card-first models in favor of something more flexible.
Ramp: Savings Today, Headaches Tomorrow?
What Ramp Promises
Ramp presents itself as a finance automation platform with built-in savings. The corporate charge card offers:
- AI-powered tools that catch duplicate expenses and find cheaper vendors.
- Up to 1.5% cashback and access to $350,000 worth of partner discounts with services like AWS and Slack.
- A no-fee structure–no interest rates, annual fees, or hidden charges.
Sounds great, right? But let’s pop that hood and take a closer look.
What Users Are Actually Saying
Ramp’s floating credit limits–tied directly to the cash flow in your bank account–can disrupt your operations at the worst possible time. One day, your account looks healthy; the next, you’re stranded with no credit. As one user put it:
Several users have reported being stranded without warning, with their cards unexpectedly blocked–leaving teams unable to make crucial payments or complete transactions.
Imagine having a team on the road, only to discover your company card is suddenly declined. One user explained:
"We had a six-figure balance in our account, but our cards were blocked. Ramp’s team blamed it on risk management."
Even large cash outflows—like real estate purchases—can cause sudden disruptions, making it impossible to rely on Ramp’s card for operational expenses:
No Rolling Credit, No Flexibility
Ramp’s cash-flow-based credit limits can leave businesses vulnerable, especially those that rely on credit cards for payroll or short-term expenses. While Ramp offers no preset spending limits, it functions as a charge card—not a credit card. And that’s an important distinction many businesses overlook.
Unlike traditional credit cards that let you carry a balance and pay over time, charge cards require you to pay the full balance each month, with the amount automatically deducted from your bank account. There's no flexibility to delay payment or spread it out across billing cycles—no matter how large the expense.
For startups and SMBs with fluctuating expenses, this rigid payback model can be a major challenge. Imagine facing a large software renewal or an unexpected marketing campaign—Ramp would require the total amount upfront, disrupting cash flow for other essential needs. As one user put it:
Without the flexibility of rolling credit, Ramp’s strict payment model can hinder growth, leaving businesses struggling just when they need financial breathing room the most.
A Hassle For Bookkeepers
Ramp integration with Quickbooks–advertised as seamless–has proven to be more frustrating than functional. Transactions sync awkwardly, with many users reporting categorization errors that need manual correction. Instead of saving time, bookkeepers find themselves caught in a never-ending cycle of fixes.
Another major issue is how Ramp handles transaction exports to QuickBooks Online (QBO). All credit card transactions are exported as Expenses, and reimbursable expenses as Bills. Unlike some systems that allow more nuanced categorization—such as exporting transactions as Credit Card Charges, Checks, or Journal Entries—Ramp’s export method is rigid and lacks customization.
This creates problems for companies with more complex bookkeeping needs, especially those using accrual accounting, needing to separate expenses by departments, apply custom GL codes, or track project-specific charges. Because Ramp doesn’t allow users to customize how transactions are posted into QBO, finance teams often have to manually edit or reclassify transactions after the sync.
This extra step defeats the purpose of automation and introduces room for error. Users have pointed out that Ramp’s sync limitations—such as bills not loading until the payment is made—make it harder to maintain accurate, real-time records.
These issues make automated accounting more of a hassle than a convenience, forcing users to step in and correct discrepancies by hand. For a platform promising to streamline expenses, the manual work involved can feel like a bait-and-switch.
Expensify: Great…Till You Need Help
What Expensify offers
Expensify presents itself as a convenient tool for tracking receipts and approving expenses. Some if its key features include:
- One-click receipt scanning and automated approval workflows.
- Discounts on subscriptions are only available when you commit to using the Expensify Card for at least 50% of your spending and sign an annual contract. Skip either, and your cost jumps to $36 per user per month.
- Tiered pricing, with Free, Collect, and Control plans aimed at businesses of all sizes.
At first glance, Expensify seems like a versatile, budget-friendly choice. But how well does it really perform?
What Users Are Actually Saying
The promise of seamless expense management falls apart when you dig into user experiences. Expensify’s customer support has been a consistent point of frustration, with complaints pouring in about unresponsive service, buggy systems, and unfair billing practices.
Many users report repeated issues with syncing credit cards, leading to duplicate expenses that need manual correction. When the platform fails, businesses are often left stranded for weeks with no real solution from support.
And here’s the real kicker–Expensify’s support is chat-only for most technical issues, and Expensify employees do not even staff it. Instead, a third-party service handles troubleshooting through an AI-powered Concierge chat.
If you run into a problem that requires deeper intervention, don’t expect a phone call anytime soon–you’ll be stuck exchanging messages with bots or outsourced agents who often provide conflicting information.
Locked into Contracts, Surprised by Bills
Expensify’s pricing model feels like a trap. The advertised plans start at $9 per user, but customers have reported skyrocketing fees when they don’t allocate at least 50% of their spending to the Expensify Card.
Those who miss this requirement see their subscription fees double or even triple to $18-$36 per user without clear communication.
To make matters worse, customers are billed even after canceling their contracts due to Expensify’s vague policies. As one reviewer explained:
The Problem with Card-First Expense Tools
Ramp and Expensify aren’t alone in locking businesses into card-first models. In 2022, Brex made headlines by abandoning its small business clients, leaving thousands scrambling to find alternatives within two months. This move highlighted the fragility of card-led platforms–and why SMBs need more reliable solutions.
Why Card-First Models Don’t Work for Most Businesses
Charge Cards, Not Credit Cards
Ramp, Expensify, and other card-first expense tools offer charge cards, not credit cards, meaning balances must be paid off monthly–there’s no flexibility in managing cash flow.
Exclusionary Underwriting Criteria
Ramp and Expensify favor VC-based startups or cash-rich businesses, leaving most small businesses without access to their cards.
Unsustainable Business Models
These platforms rely on interchange fees–a risky revenue stream that can collapse as interest rates rise and rewards programs become unsustainable.
Why Banks Hold an Advantage
Banks still hold the upper hand since they’ve basically perfected the whole process. They have access to cheap capital and time-tested underwriting methods, leaving card-first fintechs scrambling to compete.
How Fyle Offers True Freedom With the Hassle
At Fyle, we took a different path. We believe that the best business cards are the ones that you already have–not the ones you’re forced to adopt.
Real-Time Credit Card Feeds–No Waiting, No Switching
- Fyle integrates with all major credit card networks—no need to change cards or abandon trusted banks, and existing bank relationships, rewards, etc.
- Users get text notifications the moment their card is swiped, prompting them to upload receipts instantly.
- Employees just need to snap a photo and text it to Fyle—the system handles the rest.
Receipt Collection and Reconciliation – Simple and Seamless
Text Receipts Instantly
- Employees can text their receipts directly to Fyle for both credit card transactions and reimbursements—no app login required.
Automated Matching
- Fyle automatically matches receipts to card transactions, reducing manual intervention.
Boost Efficiency and Cut Errors
- 5x faster receipt collection compared to traditional methods.
- Reduces back-and-forth by 48%, streamlining communication and follow-ups.
- Ensures error-free reconciliation by eliminating the need for month-end statement matching.
Seamless Integrations with Accounting Tools
Granular, No-Code Integrations With Popular Accounting Tools
Setup In Minutes
- Self-serve, no-code integration with QuickBooks takes only 12.6 minutes on average.
- Fyle automatically imports key data—GL codes, categories, cost codes, projects, and departments—directly from your accounting software.
Real-Time Expense Sync
- Expenses are exported instantly as bills, journal entries, or credit card charges, ensuring up-to-date books with minimal effort.
- No more broken syncs—Fyle’s two-way integration ensures seamless data flow between systems.
Transparent Pricing and Stellar Support
Pay Only for Active Users
- In a transparent, no-surprise pricing model, you only pay for users who create an expense in a month or have a business credit card attached to Fyle with an active transaction on it.
- No lock-in contracts or hidden fees, so you can scale up or down as needed.
24/7 Customer Support
- 95% CSAT rating and response times under 30 minutes, ensuring help is always just a call or message away.
- Businesses can go live with Fyle in just two weeks—no complex onboarding or lengthy implementation cycles.
Why Settle for Less?
Ramp and Expensify both offer intriguing features, but their limitations outweigh the perks. Whether it’s Ramp’s insatiable credit limits or Expensify’s poor support and hidden fees, these tools force businesses into rigid systems that often do more harm than good.
Why compromise your financial freedom? With Fyle, you get real-time visibility, effortless reconciliation, and the flexibility to use any card you want—all with the best customer support in the industry.
Don’t let card-first models lock you in.
Schedule a demo with Fyle and see how real-time feeds and seamless expense management can transform your business.
