Moving Funds in the Accounts Page

This guide will walk you through how to fund your accounts, set up auto-topups and auto-paydowns, transfer money between Cash and Charge accounts (Charge customers only), manage Repayment Options (Charge customers only) and steps to withdraw funds back to your connected bank account.

Having funds in your Cash account allows you to bankroll your pre-funded Cards and earn 4% interest on your CAD and USD Cash balances. Charge customers will also be able to transfer funds from their Cash account into their Charge account.

Please note, Charge Accounts are available to Charge customers only. For more information on Charge, please visit: Float Charge and Credit Limits 🔋

Adding Funds 
Auto-Topup
Auto-Paydown (Charge only)
Transferring Funds (Charge only)
Withdrawing Funds
Repayment Options (Charge only)
Funding History

Adding Funds

Adding money to your Cash and Charge accounts is quick and easy process. Both Cash and Charge customers can top up CAD or USD funds via pre-authorized debit from their connected bank accounts. Bank transfers can take 3 to 5 business days to arrive. Alternatively, you can also instantly top up your CAD Cash Account via Interac e-Transfer (up to $25,000 CAD).

Please note that you can only add funds from your connected bank account in the same currency as your Cash account (i.e., CAD to CAD, USD to USD).

For more information on how to connect your bank account to Float, please review our help centre article here: Funding Overview

Funding your Cash or Charge account from your connected bank account:

1. Login to app.floatfinancial.com
2. Navigate to Banking > Accounts
3. Click "Move Funds" in the top right corner > a drop-down selection opens 
4. Select "Add" > a pop-up opens > click "Bank Transfer"
5. Input the amount, the account you're pulling from, the account it's going to (Cash or Charge), and a comment
6. Click "Continue"

Funding your Cash or Charge account using Interac e-Transfer:

1. Ensure you have registered an email address that will be used to receive transfers
2. Login in your online banking portal
3. Initiate an e-transfer to your verified recipient email address
4. The funds will be recognized in your Float balance immediately upon receipt; this typically happens instantly but some banks may hold transfers for up to an hour before releasing

For more information on registering your Interac e-Transfer email and sending transfers, see: Funding Your Business' Float Balance with Interac e-Transfer

Auto Top-ups to Your Cash Account

Setting up Auto-Topup can help ensure that you always have available funds to spend by automatically transferring a specified amount from your connected bank when your cash balance falls below a certain threshold.

How to enable Auto-Topup

1. Navigate to Banking > Accounts
2. Open the account(s) you want to enable auto top-up for > click "Manage" next to the Auto-topup icon > Auto-topup pop-up opens
3. Input the amount you want automatically transferred
4. Select the bank account you're transferring from
5. Input the amount to automatically transfer when your spending power falls below that threshold
6. Click "Enable" > click Save

Auto-Paydown (Charge only)

You can set up automatic transfers from either your Cash account or connected bank account when your available balance falls below a specific threshold.

How to enable Auto-Paydown:

1. Navigate to Banking > Accounts
2. Click the arrow next to "Charge" to open the drop-down for your Charge account details
3. Click "Manage" in the Auto-paydown section
4. Enter the amount that will be automatically transferred 
5. Select the account to transfer from (i.e., Cash account or connected bank)
6. Enter the minimum threshold amount that will trigger the automatic transfer. 
7. Click Enabled > click Save

Please Note: If your Cash account is the funding source for Auto-Paydown, we recommend keeping sufficient funds in the Cash account to avoid any interruptions to your balance. Having Auto-top ups for your Cash Account is recommended for this use case. 

Transferring Funds (Charge only)

As a Charge customer, you will be able to transfer funds from your Cash Account to your Charge Account as a way to free up the balance in your credit limit to continue spending. Transfers can only be done from your Cash account to your Charge account at this time. In the event that you have accidentally transferred funds to your Charge account from Cash, please reach out to support@floatfinancial.com

Please note that transfers can only be done in the same currency (I.e, CAD to CAD, USD to USD). The option to transfer between CAD & USD cash accounts is coming soon!

How to transfer funds between Cash and Charge accounts:

1. Navigate to Banking > Accounts
2. Click "Move Funds" in the top right corner
3. From the drop-down menu, select "Transfer" 
4. Enter the Transfer amount, the account to pull from, and a mandatory comment
   • The account the funds will go into will be pre-populated once you select the From account (either CAD or USD Credit)
5. Click Continue

Withdrawing Funds

You can easily withdraw funds from your Cash accounts back into your connected bank accounts. These withdrawals take 2 to 5 business days to process and transfer.

How to withdraw funds:

1. Navigate to Banking > Accounts
2. Click "Move Funds" in the top right corner > a drop-down selection opens
3. Select "Withdraw" > the withdraw pop-up opens
4. Enter the amount, select the account to pull from, select a reason, and select a comment
   • The account the funds will withdraw to will be pre-populated once you select the From account (either CAD or USD connected bank account) 
5. Click Continue

Repayment Options (Charge only)

Money spent using charge cards is automatically repaid at the end of your cycle. You can choose to pay down your credit charges from your connected bank account or your Cash account.

Paying from your Cash balance is almost instant. Payments from your connected bank can take 3-5 business days.

How to manage repayment options:

1. Navigate to Banking > Accounts
2. Click open the drop-down in your Charge account(s)
3. Click "Manage" in the Repayment options section > Repayment Options pop-up opens
4. Select the account we draw from to pay down your Charge account at the end of your billing cycle (i.e., Cash account or connected bank account)
5. Click Save 

Please note that if you select your Cash account for repayment but you don't have enough in your Cash account for the full repayment, Float will automatically draw the full repayment amount from your connected bank account instead. 

Funding History

If you are a Charge customer, your funding history will have double entries for transfers between accounts. You will see one entry for debit and another credit entry.

Cash account-only customers will only have single entries as debits.