Payment Processing Times
From Float Balance:
- Payments typically take 1-2 business days to reach your vendor when you pay from your Float balance.
- Pay bills directly from your Float balance which is 4x faster than paying from your bank! Funds held in your pre funded Float account will also earn 4% interest.
- Payments must be scheduled before 12PM EST for Same Day Payment Date
From Connected Bank Account:
- Payments generally take 3-5 business days when made directly from a connected bank account.
- Payments from Connected Bank Account are available to Professional plan and Enterprise plan customers only.
- Payments must be scheduled before 5PM EST for Same Day Payment Date
Why Do Processing Times Differ?
- Paying from your Float balance allows for quicker transactions because the funds are pre-loaded and ready for immediate use from Float. In contrast, payments from a connected bank account must go through the standard bank transfer system, which can take longer and is outside of Float's control.
Payment Reversals
- Payment reversals take 1-3 business days to complete.