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 3.5% 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: $20 CAD fee for domestic and international recipient payments
- SEPA: No fee
- Float Card: No fee
The method used depends on the bill's currency and destination.
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, Reschedule & Unschedule Bill Payments
Funds Release Approval
After a bill has been approved and a payment date has been scheduled, funds release needs to be approved. This gives your team full control over when funds leave your account.
How to Give Funds Release Approval:
- 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 give funds release approval. See: Funds Release Approval for Bill Payments.
How Payments Are Processed
Float processes bill payments in daily batches based on the scheduled payment date.
- All bills scheduled for payment on the same day are grouped into a single withdrawal
- Each recipient still receives a separate, individual payment for each bill. Multiple bills to the same recipient are not combined - recipients still receive individual payments
- Your bank statement will show one top-up transaction to Float
- Each recipient 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 recipient 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: Bill Payment Processing Times and Cutoffs and Handling and Retrying Failed Payments.
What Recipients See
Recipients 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 Recipients.