Why are Float Charge Card rewards different from other Float offerings?

Float Charge is a unique credit facility. Float borrows funds from its own partners to lend to your business, allowing you to access an interest-free spending solution along with Float’s full suite of tools, such as accounting automation, spend controls, and financial reporting. This product provides a significant economic advantage and helps teams save time, reduce risk, and improve cash flow.

To ensure the long-term sustainability of this product for all, customers are asked to select term structures within our application form.

Rewards for Float Charge vs Pre-Funded (non-Charge) customers

Charge customers:

• 1% Cashback on all Charge card spend beyond $25k for a given month (the same cashback program offered to standard Float customers)

  • For more details, see: Float Cashback FAQ

Important consideration:

• Charge customers do not earn interest on funds in their Charge account. This is because Charge is a credit facility, not a stored balance. Float fronts the funds, and you repay them at the end of your Charge cycle. However, you can earn interest on funds in your Float Cash account(s).

• Cashback awards for Float Charge customers will be applied to the Charge account. Which will be visible in your Charge statement

Pre-Funded (non-Charge) customers:

• 1% Cashback on all pre-funded card spend beyond $25k for a given month
  • For more details, see: Float Cashback FAQ

• If you hold funds in your Float Cash Account, you will earn Interest. Float Interest works as follows:

  • Every dollar in your CAD & USD Cash balances earns a base rate of 3%

  • Your rate is calculated monthly for each currency, based on your previous month's Float card spending in that currency

    • If you spend less than $25,000 (in CAD or USD), you'll earn 3% the next month

    • If you spend between $25,000-$250,000 (in CAD or USD), you'll earn 3.5% next month

    • If you spend over $250,000 (in CAD or USD), you'll earn 4% next month

  • These rates will move automatically with rate changes made by the Bank of Canada and the U.S. Federal Reserve

*For more details, see: Earning Interest with Float

If you have any further questions or wish to learn more about Float's Charge Card, read more HERE or please reach out to an account representative or support@floatfinancial.com for more information.