International Bill Payments

Float gives you two ways to pay international vendors:

• Pay a vendor in an international currency:
  • Float converts the payment from your CAD or USD Cash balance into the invoice's currency, so your vendor is paid in the currency they invoice in.
• Pay by USD-to-USD wire:
  • Send a USD-to-USD Wire payment directly to a vendor's bank in one of Float's supported countries.

Beta feature: Paying a bill in an international currency is currently in Beta and only available to businesses in the Beta. If you don't see this option, you'll have access to the feature in the full release.

Guide Overview

Paying a Vendor in an International Currency

• How to pay in an international currency?
• Conversion fees and currency exchange rates
• List of supported currencies and their available payment methods

Paying a Vendor by USD-to-USD Wire Payment

• How to pay by USD-to-USD wire payment?
• Available payment methods
• USD-to-USD international payments in other currencies
• Full List of Supported Countries for USD-to-USD Payments

Frequently Asked Questions (FAQs)

Paying a Vendor in an International Currency

How to pay in an international currency?

1. Go to Bill Pay > Drafts > Upload an invoice to create a draft bill in a supported currency (see: Uploading, Email Forwarding, and Importing Bills to Float)
2. In the draft bill, select the bill currency > In the bill recipient drop-down menu, select the vendor in the same currency as the bill. 
   • If the vendor in this currency isn't already created, select "Create vendor" and create a vendor in the same currency as the bill
3. Add the vendor's payment details by selecting "See payment details":
   • Select the payment destination country
   • Select the payment method
   • Add the payment method details
   • Add the vendor's address
   • Select "Save Recipient"
4. Select a Funding Source (Either CAD or USD Float Cash balance)
5. Review the currency conversion estimate for the bill below the Bill Amount total field
6. Add the remaining bill details > Select the "Get Approval" button to submit the bill for approval
7. Once approved, the bill will move to the Unpaid tab, where a payment date can be scheduled

Conversion fees and currency exchange rates

Float charges a 1.5% currency conversion fee whenever a bill's currency doesn't match your Cash balance's currency and needs to be converted to pay it.

For example, a EUR bill paid from your CAD Cash balance. If the bill currency matches your Cash balance's currency, there's no conversion and no fee.

Float includes this fee in the estimated debit shown for the bill. To see it, select "View details" beside "Currency conversion required", below the funding source. This opens the Bill Amount section, showing the estimated amount Float will debit from your Cash balance, based on the total bill amount and the current exchange rate between the bill's currency and that of your Float Cash balance's currency.

For example, a €65.00 EUR bill paid from your CAD Cash balance, at an exchange rate of 1 CAD = 0.65 EUR (rate for illustration only), would show an estimated debit of $100.00 CAD, which includes Float's 1.5% conversion fee.

List of supported currencies and their available payment methods

Paying a Vendor by USD-to-USD Wire Payment

How to pay by USD-to-USD wire payment?

1. Go to Bill Pay > Unpaid tab > Open the bill for your international vendor
2. Ensure that the bill currency is in USD 
3. Add the vendor's payment details by selecting the "See payment details" button
   • Ensure the vendor's currency is in USD
   • Select the payment destination country (See: Full List of Supported Countries)
   • Add the Wire payment details
   • Add the mailing address
   • Select "Save"
4. Once the payment details have been added, select the "Set payment date" button to schedule the payment. See: How to Schedule Bill Payments.
5. Once a payment date has been set, the bill will be moved to the Needs Authorization tab of the Payments page, where an Administrator can authorize funds to be released. See: Authorizing Funds Release

Important Reminders:

• Double-check vendor banking details to avoid payment failures
• USD international Wire transfers usually take 1-3 business days to arrive, depending on the receiving bank and country. See: Payment Processing Timelines
• If a wire payment fails or is returned, Administrators will be notified, and the funds will be returned to your Float Cash balance. See: Handling Reversed / Failed Bill Payments

Available payment methods

If you're paying a USD bill to an international payment destination country, the only available payment method is a Wire transfer. 

USD-to-USD international payments in other currencies

• The vendor must be configured in USD

• The payment will be sent in USD. If the vendor's bank account is not in USD, the receiving bank may be able to convert the USD payment to the account currency at the receiving bank's own rate

   

Full List of Supported Countries for USD-to-USD Payments

If a country is not listed, it is not supported for USD-to-USD bill payments: