The Rho One-Day Card gives businesses the ability to maximize Cashback Rewards, while maintaining total control over daily card spend.
Advantages of The One-Day Card program include:
- Meaningful rebate
- Unlimited, fee-free virtual and physical cards
- Built-in expense management and receipt capture
- Automated budgets and custom transaction coding (teams, departments, job codes, etc.)
- Mobile app for employees to file expenses and reimbursements
- Real-time transparency into card spend
- No periodic company bank and financial statement submission requirements
Important: As part of Rho’s One-Day Card Program, your company receives a daily credit limit. The limit is determined based on a combination of your available checking balance as well as risk factors that vary by client. As your available checking balance varies over time, this limit is not a static limit over time. Learn more about the Rho checking account here.
Keep reading to learn more about how the One-Day Card program works.
Getting started
To switch and begin using your One-Day Card, please take the following steps:
- Inform our team of your intent to switch to the One-Day Card program by contacting clientservice@rho.co
- Fund your account (follow these steps to fund your account). Your daily limit is based on a combination of your available checking balance and various risk factors. As such, do ensure that you have sufficient available checking balance to support your company’s intended One-Day Card spend.
- If you intend to spend over $100,000 daily using your One-Day Card, please contact our team via chat or email at clientservice@rho.co.
- Create Rho cards to start spending.
Viewing Card Transactions
The Rho Cards Tab holds all itemized card activity. Your credit repayment transfers made from your Rho checking account can be seen in the Banking Tab.
Repayments
Repayments are automatically debited from your Rho checking account just after midnight EST for that day’s activity. Daily auto-repayment amounts are for the total amount of settled charges from the prior day
For example: Monday's charge period begins at 12:01 am EST Monday morning and lasts until midnight Monday night. The repayment for Monday's charges follows. Then Tuesday's charge period begins at 12:01 am EST on Tuesday.
Contact clientservice@rho.co to initiate manual interim payments earlier than the end of the active 24-hour charge period.
Credit Dashboard
After navigating to the Cards Tab, your Overview page displays the most recent activity of all of your Rho Cards including your credit balance dashboard.
Current Balance The sum of settled card transactions, minus repayments made.
Pending Charges A total sum of the charges that have been initiated but not yet settled (approved or denied) by the merchant, regardless of the day in which they were initiated. NOTE: Pending Charges are subtracted from your available credit. The sum of pending charges will carry over to your following spend period until the time the charges are settled by the merchant. Once the charges settle the funds will be accounted for in your Current Balance.
Statements
Accounts on our One-Day card program receive monthly summary card statements on the 1st of each month, in tandem with Checking Account Statements. For more information, see Viewing Statements.
Rho Card charges can also be downloaded to CSVs in addition to Rho Card statements that will populate in your Rho Documents Tab.
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