Set up your Rho account in 5 steps

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RHO MARKET FIT

Hi, we’re Rho Business Banking. We offer banking, corporate cards, payments and expenses — all in one place.

Here’s how to get started with your Rho account.

Step 1: Fund your checking account.

First up, you need to fund your checking account.

Option 1: Use a wire or ACH initiated by your external bank. Rho is happy to reimburse any fees incurred from a wire sent to initially fund your account.

We’ve partnered with Evolve Bank and Trust to provide our checking account facilities. Therefore, when providing wiring instructions, please provide the following details:

Your Rho account number. (To find your account and routing number, click the “Accounts” icon. Then click the “Cash/Checking” tab, and “Account Details.)
Rho routing number: 084106768
Bank name: Evolve Bank and Trust
Bank address: 6070 Poplar Avenue Suite 200 Memphis, Tennessee 38119
Contact details: Ali Montag +1 (929) 339–0605

To receive a wire same-day, please submit before the 3:00PM ET cutoff.

Option 2: You can also fund your checking account with a linked external account. Just click the “Admin” icon, and look for “Linked Accounts.”

Please make sure you’re linking a business account, and that the names on both accounts match explicitly. Incoming linked account transfers are limited to $300,000 per day. Outgoing transfers are limited to $150,000 per day. Linked-account transfers can take between 2 to 3 business days to settle.

Step 2: Create Corporate Cards.

Create digital or physical corporate cards.

First, make sure corporate cards have been activated for your account. If you’d like to use Rho Cards, let your business banker know, or reach out to us at Bank@Rho.co.

You can create unlimited physical or virtual Rho Cards for every employee at your company. Here’s how. You can also edit the spending restrictions and budgets for those cards.

Step 3: Add team members, and set permissions.

Give your employees, investors, bookkeepers, and accountants access to Rho. Make finances simple and frictionless by collaborating with your whole team. Rho’s roles and permissions let you do this safely (accountants can look but they can’t touch!)

We have settings for six different roles at your company. Read about how to add new team members here.

Step 4: Get started with payments.

In the “Payees” section of your Rho account, you can enter payment details for the individuals or businesses you need to send money to. For international payees, you’ll need the IBAN number and SWIFT code as well as correspondent bank information.

In the “Transfers” section of your Rho account, you can get started making payments.

Step 5: Set up department budgets.

Create budgets for teams like marketing, sales, and finance.

Track every penny your team spends. Create budgets for your departments, and connect those budgets to the corporate cards of everyone you work with.

To create a new budget, click on the “Budgets” icon. Once you’ve created a budget, assign a group of employees’ corporate cards to it. As your employees spend, their cards will deduct straight from the budget.

Expenses? Managed.

That’s it! You’re up and running. Questions? Reach out to Rho any time at Bank@Rho.co, or by calling 1 (855) 7-GETRHO. Business bankers are available Monday through Friday, 8:00AM ET to 8:00PM ET.