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 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 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 use a virtual card to pay in person?
Technically, yes!
The easiest way to do this is to add your virtual card to a mobile wallet and tap-to-pay (where accepted).
If the machine/store allows you to input the specific parameters that the virtual card has (full number, expiry, CVC), then it should work. However, this largely depends on the physical machine used by the store. Usually, you can ask the person working to take the transaction as if it was an over the phone transaction where they enter the numbers manually.
Typically, virtual cards are used for online purchases/subscriptions and physical cards are used for in store/person purchases.
Please Note: Some US merchants will require a PIN for virtual card transactions made in person. For steps on how to set a PIN for your Virtual USD Card, see: Why was I prompted to enter a PIN for my Virtual USD Card transaction?
Why was my tap transaction declined with "Tap not accepted, please insert chip"?
As a security measure, physical cards will default to require chip insertion when a significant amount of tap transactions have occurred in a certain period. Completing a transaction with your PIN would then allow you to continue to tap for transactions.
I've ordered my physical card too late, what should I do?
Some cards may take up to 10 business days to arrive. Virtual cards are ready to use immediately once created and approved, so you may wish to request one while you wait.
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.