Float Bill Pay supports two funding methods, depending on your plan. You can choose one as your default and update it at any time.
Guide Overview
Which Funding Sources can be Used for Bill Pay?
Choosing Your Default Funding Source
Changing the Funding Source for an Individual Bill
Which Funding Sources can be Used for Bill Pay?
Pay from Float Cash Balance
Complete payments 4x faster than paying from your bank by paying directly from your Float balance! Funds held in your Cash balance will also earn up to 4% interest.
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- Learn more about funding your Float Cash balance here: How does funding work?
- Configure Auto-Funding to ensure a sufficient balance is always present. Learn more here: What is auto-funding and how to enable it?
- Available to customers on all Float pricing plans
Pay from Bank Connection
Pay bills from the same connected bank account used to topup your Float Cash balance.
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- Available only to customers on Float Professional or Enterprise plans
- To connect a new bank account, see:
- To change the payment connection, see: How to Change Bank Account Connection
This feature is available to customers on Float's Professional or Enterprise Plans. View detailed plan information at floatfinancial.com/pricing and contact us via support@floatfinancial.com if you'd like to upgrade!
Choosing Your Default Funding Source
You can configure a default funding source to be used for all bill payments (unless overridden on the individual bill).
To choose a default funding source for Bill Pay:
- Navigate to Settings > Bill Pay > "Choose your default funding source"
- Use the drop-down to choose an option for "CAD Default Funding Source" and "USD Default Funding Source."
- CAD/USD Pre-Funded draws from your company's Float Cash Balance and is 4x faster than paying from your bank
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Current Bank Connection makes payments from your existing payment connection
- Only available to customers on Float Professional or Enterprise
You can update your default funding source at any time. Note, a change to your default funding source will only apply to new bills created after the change.
Changing the Funding Source for an Individual Bill
Customers on the Professional and Enterprise plans have the option to select either their Float Cash balance or their current connected bank account as the default funding source. You can select a different funding source from your business's default funding source on an individual bill basis, if your plan allows it.
To change the funding source for an individual bill:
- Navigate to Bill Pay > Drafts > Select an individual bill
- Under "Bill Details", select the current Funding Source > From the drop-down menu, select the desired funding source > The change will automatically be saved