Cards FAQ – Float Help Centre

Float cards let you and your team make business purchases using your company’s Float balance. You can issue physical or virtual cards, set spending limits, control how and when cards are used, and track spending in real time.

This FAQ covers common questions about how Float cards work and how to manage them.

For questions specific to card types, check out:

Physical Cards FAQ

Virtual Cards FAQ

Directory of Frequently Asked Questions

Are Float cards credit cards?

Float cards are primarily funded under our pre-funded model. Our partnership with Visa allows our cards to function as credit cards on global payment networks and be accepted anywhere Visa (CAD) or Mastercard (USD) cards do! If you do get declined by any merchant, you can email support@floatfinancial.com and we can look into this with you.

If someone is misusing their card, is there a way to control this misuse without cancelling the card?

As an Administrator, you will be able to use the "Pause Card" option to pause card spend for any user. Read more on how to pause cards on our help centre article: Using the Pause Card Feature.

Can I create cards without cardholder names?

By default, all Float cards include the cardholder’s name and your business’s DBA name. If you want non-personalized cards, this would affect all new cards moving forward.

Only the Primary Administrator can request this change, and it will need to be reviewed by Float’s internal team.

For more information, please reach out to support@floatfinancial.com.

What does the error “Card owner ____ must be OFAC and KYC approved to have a card” mean when I’m trying to create a card for a user?

This error means the user hasn’t completed or been approved for KYC verification yet. Once their verification is complete and approved, you’ll be able to create a card for them.

Can I allocate funds to a specific card only?

Funds cannot be allocated to a specific card as all Float cards are funded by the business' Cash balance. For more information on how funding works for Float cards, please visit: How to Start Spending with Float Cards.

A specific limit can be assigned to each card to help control spending. Card limits ensure that the cardholders can only spend up to the designated amount within the defined time period. For more information on creating limits, please visit: Setting/Editing Limits on Float Cards.

Can I move funds from one card to another?

No funds cannot be moved from one card to another. A Float card’s ability to spend is determined by the card limit that has been set. All Float cards draw from the company’s Cash Account and do not hold actual funds themselves.

Can I fund some Float cards from one bank account and others from another?

No. You can’t fund individual cards from different bank accounts.

All Float cards draw from your company’s main Cash balance, which is funded by the connected bank account in your Float account.

Can I transfer cards from one business entity to another?

Float cards cannot be transferred between entities. If a card is needed under a different entity, a new card will need to be created or requested for that specific entity.

Can I withdraw money from an ATM or send money transfers?

At this time, users do not have the ability to withdraw money at ATMs or send money transfers (such as E-Transfers) with their Float cards. See: Prohibited and Restricted Transaction Declines

If you are an administrator and would like to withdraw funds from Float back into your business account, you will need to withdraw the money back to your bank account. See: Withdrawing Funds from Float

Can I turn off the ability for a card to be used for tap-to-pay purchases?

No, it isn't possible to turn off tap-to-pay or to otherwise restrict the methods of payment available to a Float card.

Can I prevent a card from being used in-person and only allow online purchases, or vice-versa?

No, it isn't possible to restrict a card from being used for in-person or online purchases.

What should we do if an employee accidentally uses their Float card for a personal expense?

Personal expenses made using a Float card must be managed by the business using its own internal process. Some common approaches include:

A payroll deduction
A direct repayment arranged with the employee
Other HR or finance workflows

The employee should contact their finance, payroll, or HR team to arrange returning the funds.

Do Float cards help build business credit?

Float card activity is not reported to credit bureaus and does not establish credit history for a business in the traditional sense. Using Float cards won't help or hurt your business's credit profile. Instead, Float cards offer spending control and management features without affecting credit scores.

Can users be restricted from using a USD card for CAD transactions, and vice versa?

No, this is not possible. If you want to set restrictions, this would need to be discussed and enforced with Spenders outside of the Float platform.

Can a card be assigned to or used by more than one spender at a time?

No, each card can only be assigned to and used by a single Spender. Virtual cards can be reassigned from one spender to another, but cannot simultaneously belong to more than one Spender.

Is it possible to convert a virtual card to a physical card?

No, it isn't possible to issue a physical card for an existing virtual card. Spenders can submit a Spend Request for a new physical card and Admins can create new physical cards directly. New physical cards will be totally distinct from existing virtual cards, with unique card numbers and separately-defined limits.

Can I pay off another bank's credit card statement, pay a utility bill or the CRA with Float cards?

No, it is not currently possible to use a Float card (or Float Bill Pay) to pay off another bank's credit card statement, pay a utility bill or make a payment to the Canada Revenue Agency (CRA).