Float Bill Pay lets you manage company payments quickly and securely using your Float Cash balance or a connected bank account.
Guide Overview
Funding Sources
You can choose to pay your bills from:
Float Cash Balance
- Complete payments 4x faster by using your pre-funded Float Cash balance
- Earn up to 4% interest on funds held in your Float balance
- Available to customers on all Float pricing plans
- You can configure Auto-Funding to ensure a sufficient balance is always present
Bank Connection
- Pay bills from the connected bank account used to topup your Float balance
- To connect a new bank account, see: Changing a Bank Account Connection
- Only available on Professional or Enterprise plans. Essentials plan customers can only make payments from their Float Cash balance
See: Configuring and Choosing Bill Pay Funding Sources
Payment Methods and Fees
Float supports the following payment methods:
- EFT (CAD): No fee
- ACH (USD): No fee
- Wire transfers (USD): $20 fee for domestic US and international vendor payments
The method used depends on the bill currency and destination. Wire transfers are available only for USD bills.
The fees apply to all payments made through Float Bill Pay, regardless of whether they're funded from your Float Cash balance or a connected bank account.
Scheduling Bill Payments
After a bill has been approved, it will move from the "Draft" tab to the "Unpaid" tab, where you'll be able to schedule a payment date. To do so:
- Navigate to the Bill Pay page
- Go to the Unpaid tab > Open the bill
- Select the "Set Payment Date" button to schedule a payment date
See: How to Schedule & Unschedule Bill Payments
Authorizing Funds Release
After a bill has been approved and a payment date has been scheduled, funds need to be authorized for release. This gives your team full control over when funds leave your account.
How to Authorize Funds Release:
- Navigate to the Payments page
- Go to the Needs Authorization tab to view approved bills that have been scheduled for payment
- For batch payments, select the "Authorize All Payments" button
- For an individual bill, select the "Authorize" button to the right of the bill
Note that only Administrators can authorize the release of funds. See: Authorizing Funds Release.
How Payments Are Processed
Float processes bill payments in daily batches based on the scheduled payment date.
- All bills scheduled for the same day are grouped into a single withdrawal
- Your bank statement will show one top-up transaction to Float
- Each vendor receives a separate payment from Float
This makes it easier to reconcile payments and manage your financial records.
Payment Processing Times
From Float Balance:
- Payments typically take 1-2 business days to reach your vendor when you pay from your Float balance
- For same-day payment processing, the payment must be scheduled before the daily cutoff time of 12 PM ET
- If the payment is scheduled after the cutoff time, processing will begin on the next business day
From Connected Bank Account:
- Payments generally take 3-5 business days when made directly from a connected bank account
- For same-day payment processing, the payment must be scheduled before the daily cutoff time of 5 PM ET
- If the payment is scheduled after the cutoff time, processing will begin on the next business day
Payment Reversals:
- Payment reversals take 1-3 business days to complete
See: Payment Processing Timelines and Handling Reversed / Failed Bill Payments.
What Vendors See
Vendors will see:
- Your legal business name
- The invoice number from the bill
- A reference number (if supported by their bank)
You can also share a live payment confirmation link or a PDF. See: Viewing and Sending Bill Payment Confirmations to Vendors.