Interac e-Transfer allows you to add funds to your business's Float Cash balance instantly, so you can get funds where you need them right away. Securely transfer up to $25,000 CAD in the time it takes to send an email! This guide will take you through the straightforward setup and usage of this powerful feature.
Guide Overview
Setting Up Interac e-Transfer funding
Loading Funds with Interac e-Transfer
Viewing or changing your Interac e-Transfer recipient address
Setting Up Interac e-Transfer funding
To set up Interac e-Transfer funding to your business' Float balance, follow these simple steps to register the recipient address for your e-Transfers into Float.
1. Log-in to Float as an Administrator
2. Navigate to Accounts
3. Click Add Funds
4. Click Interac e-Transfer
5. Enter the email address that you will send e-Transfers to in order to fund your business' Float balance. Important:
This will be the recipient address for your e-Transfers to Float - you will send e-Transfers to this address to fund your Float cash balance
Enter an email address that your business owns and can you can access in order to complete the subsequent verification step
Do not use an email address which is a distribution list or shared inbox, as this will prevent successful verification
Select an address which will not receive other e-Transfers. After you complete the verification, all future e-Transfers sent to this address will be auto-deposited to your business's Float Cash balance
6. Click "Continue"
7. A confirmation email will be sent to the email address you provided. Open and action it to complete the setup. If you haven't received the email, return to Accounts > Cash > Select your registered email address > click "Resend Verification"
Note: Confirmation emails received during the setup process will mention Float's banking partner, People's Trust.
You're ready to start funding your business's Float Cash balance instantly with Interac e-Transfer!
Loading Funds with Interac e-Transfer
After completing the setup, log-in to your online banking portal and initiate an e-Transfer to your verified recipient address. You don't need to be logged-in to Float to do this.
*The funds will be recognized in your business's Float Cash balance immediately upon receipt. Usually, this is nearly instantaneously, but some banks may hold transfers for up to an hour before releasing.
See past e-Transfers along with your other Funding transfers at Accounts > Funding History.
Viewing or changing your Interac e-Transfer recipient address
Log in to Float as an Administrator and navigate to Accounts > Cash. Here you can view and copy the email address you can send e-Transfers to in order to fund your business' Float Cash balance.
To change this email address to a different one, select your active email and then select "Remove Registration". You can then repeat the verification steps above.
Transfer Limits
Interac e-Transfer allows you to transfer up to $25,000 CAD per transfer to your business's Float Cash balance.
Your bank may enforce other per-transfer, daily, weekly and/or monthly limits, which might be lower. Your bank may choose to adjust this limit at its discretion.
For transfers exceeding $25,000, Float also offers Fast Funding for eligible customers. Learn more here: Fast Funding FAQ ⚡️
Withdrawing Funds
In order to withdraw funds from Float, you will need to connect a bank account. For more information on how to connect a bank account, please visit: Connecting CAD Bank Accounts to Float.
e-Transfer Funding FAQ
Can I configure more than one email address to receive e-Transfers to Float?
Why was my email registration declined?
Can I receive e-Transfers from more than one sender?
Can I send an outbound e-Transfer from Float to an external recipient?
Is Interac e-Transfer available for USD?
Why did an e-Transfer to Float fail?
How will my business name appear when an e-Transfer is being sent to my business's email alias?
Can I configure more than one email address to receive e-Transfers to Float?
No, only one email address can be registered as the recipient address for e-Transfers to Float. All e-Transfers sent to the registered address will be auto-deposited to your Float cash account.
Why was my email registration declined?
If you notice that your Interac e-Transfer email address registration was declined, this means that the chosen email was declined by Interac.
To resolve this, remove the declined email and register using a new email address.
Can I receive e-Transfers from more than one sender?
Yes, any e-Transfer sent to the email address you register for e-Transfer autodeposit to Float will be autodeposited to your Float balance. E-transfers sent to this address from any sender will be autodeposited to your Float balance.
Can I send an outbound e-Transfer from Float to an external recipient?
No, outbound e-Transfers from Float to external recipients aren't currently available. Consider using Float Bill Pay to send payments to vendors via EFT, ACH or wire, or using Float Reimbursements to reimburse employees for business expenses.
Why is my bank prompting me to enter institution, transit and account numbers when sending an e-Transfer to Float?
If your bank website is asking for institution, transit and account numbers, you're attempting a different type of transfer. Look for the option to send via "Interac e-Transfer" in your bank's portal. You should only be required to name the recipient and provide an email address. Use the email address you configured in Float as the e-Transfer recipient address.
Is Interac e-Transfer available for USD?
No, Interac e-Transfer is not currently available for USD funding. Ask us about Fast Funding!
Can I fund my Float balance with e-Transfers on weekends, bank holidays and outside of business hours?
Yes! You can fund your Float Cash balance with e-Transfers on weekends, bank holidays and outside of business hours. Interac e-Transfers can be used 24/7 to fund your account.
Why did an e-Transfer to Float fail?
e-Transfers to Float can fail due to an issue or flag at your bank or the Interac network, before the transfer reaches Float. In these situations, Float does not have visibility into the failed transfer, and you should contact your bank.
If you see a "failed" e-Transfer within Float at Accounts > Funding History, this means that the e-Transfer did reach Float but was not accepted. This can happen if your business's Float account is paused or dormant, or is under review for another reason. In this situation, an Administrator should contact us for more information.
If an e-Transfer to Float fails for any reason, the funds will be returned to the sending bank account on a timeline determined by Interac and the sending bank - usually less than a business day.
How will my business name appear when an e-Transfer is being sent to my business's email alias?
Float sends both your business’s Legal Name and DBA (Doing Business As) to Interac. Float cannot control how each institution chooses to display your business name during the e-Transfer process.
If the names have special characters (Ex: "&" symbol), they will be removed, as Interac is not able to process special characters. Example:
- Legal name in Float: "Acme & Co"
- Legal name that will be used by Interac: "Acme Co"
The exact name your sender sees may vary and Float cannot control this. Interac, People’s Trust (Float's banking partner) and the sender’s financial institution each independently decide which name they will use:
- Whether to display the Legal name, DBA Name, or both
- Where the name appears in their interface
- How it is formatted