Guide Overview
How do I activate Fast Funding?
What do I need in order to qualify?
How do I know if I have Fast Funding?
I have Fast Funding enabled. Why is my transfer taking longer than one day?
Why does my Fast Funding say “Refresh Required”?
Why is Fast Funding no longer appearing on my account?
What is Fast Funding?
Fast Funding provides eligible customers quick one-business-day turnarounds when moving money to Float.
In Canada, bank transfers take at least 3 business days to arrive at their destination. We make it easier for companies to ensure they always have the funds they need for their Float Cards by fast-tracking funding to one business day.
How do I activate Fast Funding?
New Float customers are automatically reviewed for eligibility - there is no action required other than connecting your banks and keeping the connection refreshed!
Customers who qualify will automatically have Fast Funding applied to their account. Please reach out to Support to see if you qualify!
If fast funding isn't already-enabled on your account and you'd like to have it activated, reach out to support@floatfinancial.com.
What do I need in order to qualify?
Our evaluation considers various criteria such as account standing, age and asset information to determine ongoing eligibility.
Existing Float customers who connect via a manual connection can reconnect their bank account in our Accounts page via Flinks to help qualify for Fast Funding and upcoming credit products. To do so, simply select “Connect Bank” in the Bank Connections page, and once completed, we’ll automatically merge new connections with any matching manually-connected accounts.
Fast Funding is evaluated and enabled separately per-currency. If you'd like to apply for fast funding for your CAD and/or USD funding connections, please specify. It's possible your business will qualify for Fast Funding for one currency but not the other.
If you’re not sure how you are currently connected, reach out to support@floatfinancial.com and we can help!
How do I know if I have Fast Funding?
In the web app, you will see Fast Funding as a non-clickable green "ON" button on your CAD and/or USD accounts.
You can add more banks to Float to increase your eligibility.
How does Fast Funding work?
Businesses qualify for Fast Funding on an account basis (CAD and USD). Once your business is qualified, you can initiate transfers which will be processed after 1-business day, if the transfer qualifies.
When a transfer is initiated in the Accounts page, we’ll let you know if Fast Funding was applied and the estimated arrival time.
I have Fast Funding enabled. Why is my transfer taking longer than one day?
Fast Funding transfers are initiated in one business day and completed on the following business day. Transfers initiated after 5:00pm Eastern will be initiated on the subsequent business day and completed the day after that.
- Flot topups are only processed during business hours, on business days. If your topup is pre-scheduled on a weekend or bank holiday, it may be delayed until the next business day
- If you have not funded Float before or are funding for the first time from a new account, the first transfer will not be Fast Funded
- Only one transfer per currency can be Fast Funded per day (including auto-funding transfers). Additional transfers initiated in the same day will be funded on the standard timeline.
- The total amount that can be Fast Funded within a 30 day period is capped at a (discrete, dynamic) limit based on your business's historical funding and spending. If your funding transfers into Float significantly increase during a short span of time and you notice transactions are no longer being Fast-Funded, this is likely why. Fast Funding will resume after the 30-day cycle resets. Contact us if you believe your limit has been reached and you would like to request that it be re-evaluated.
For all other transfers, we evaluate funding on a transfer-by-transfer basis and reserve the right to apply standard transfer times.
Why does my Fast Funding say “Refresh Required”?
In Canada, bank data feeds need to be refreshed monthly and we use this data to qualify customers. To keep Fast Funding on for your business, head to Banking > Accounts and click "Refresh" on the account that needs your attention.
You will know if you are due for a refresh when you see "Refresh Required" within your CAD or USD cash accounts next to the Fast Funding button.
Why is Fast Funding no longer appearing on my account?
Float continuously evaluates customer eligibility based on a number of factors including account standing and asset information. We will notify you if you are no longer eligible for the program.
You can add more bank connections to meet eligibility or contact our Support team (support@floatfinancial.com) if you think an error has been made.
If you have any questions or need help with faster funding, please reach out to your account representative or support@floatfinancial.com!