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 enroll?
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!
It’s recommended that businesses connect multiple banks to be qualified for upcoming credit products and higher limits. Our intelligent software reviews various criteria such as account standing and asset information to determine ongoing eligibility.
Existing Float customers who set up their banks via micro-deposit can reconnect their banks in our Accounts page to 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 micro-deposit accounts.
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 in 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.
Why did my transfer take longer than 1 day?
Note that Fast Funding does not:
- Apply to a company’s first transfer to Float
- Apply to a company's first transfer after a bank account change
- Is limited to one transfer per day
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!