The information in this article only applies to customers who have received a notification from Float about the early renewal of their CAD Float cards. If you have not received a notification, no action is required from you at this time.
Float is upgrading our card infrastructure with our issuing partner, and as a part of this transition, some CAD cards will be renewed ahead of their original expiry date and replaced with new card numbers.
Here's what you need to know:
- Card number and details will change as a result
- Card name, limits, rules, and settings will all stay the same
- Cards will automatically be renewed on their renewal date
- Float recommends that cards be renewed before their renewal date, to have time to update saved payment details with vendors and recurring payments
Please note: This article is specific to the migration and early renewal of CAD cards. For information on standard card renewals, see: Expiring Cards Overview
Guide overview
How to Renew Expiring Virtual CAD Cards
How to Renew Expiring Physical CAD Cards
When Will I be Notified About Expiring CAD Cards?
What Changes When a CAD Card is Renewed?
Frequently Asked Questions (FAQs)
How to Renew Expiring Virtual CAD Cards
Renewing a card is done from the Cards page. You can renew a card at any time after receiving the renewal notification.
As a Spender:
You can renew your own card directly.
- Navigate to Cards > My Cards
- To the right of the expiring card, select "Renew Now"
- You'll receive a confirmation of the renewal and the new card will be available right away
- Select "New Details" to view your new card number, expiry date, and CVV
As an Administrator:
Administrators can renew cards on behalf of any cardholder in the business.
- Navigate to Cards
- Select "Add Filter" > "Card Renewal Status" > "Renewal Available" to filter for cards eligible for renewal
- To the right of the expiring card, select "Renew Now"
- You'll receive a confirmation of the renewal and the new card will be available right away
- Select "New Details" to view the card's new number, expiry date, and CVV
Important Notes:
- Once a card is renewed, it will be active immediately
- Ensure you edit your subscriptions and recurring transactions to the new card details
How to Renew Expiring Physical CAD Cards
At this time, physical CAD Float cards are not being asked to be renewed for this upgrade to our card infrastructure.
If you have a physical CAD card that is expiring soon, see the steps to renew the card in the following guide: Expiring Cards Renewal Guide
When Will I be Notified About Expiring CAD Cards?
Float will notify both the cardholder and all Administrators when CAD cards are approaching their renewal date.
In addition, banners will be shown on the Cards page and card details page when you have cards requiring renewal.
Selecting "View Cards" from the banner on the Cards page will automatically show all cards eligible for renewal. Or, selecting "Renew Now" from the card details page will allow you to renew that card.
What Changes When a CAD Card is Renewed?
Because these cards are moving to a new issuing model, the new card will have different details from the expiring one.
The following will change:
- Card number (PAN)
- CVV
- Expiry date
The following will stay the same:
- Spending limits and controls
- Submission policies
- Accounting rules and automations
- Assigned user
- Transaction history
- Card name
Frequently Asked Questions (FAQs)
What happens if I don't renew before the renewal date?
Can I renew my card before receiving a notification?
What happens to my old card after renewal?
Who gets notified about the renewal?
How do I know which of my cards are affected?
Will my transaction history still be available after the replacement?
Will my recurring subscriptions keep working automatically?
What happens if I don’t update my saved payment details with a merchant?
Can I cancel the card instead of renewing it?
What happens if I don't renew before the renewal date?
If a CAD virtual card isn't manually renewed before the renewal date, it will be automatically renewed on that date. No action is required if you're comfortable with the renewal happening automatically.
If the card is used for recurring transactions or as a saved payment method, you will need to update the payment method with the new card details. If not, the transactions will fail.
Can I renew my card before receiving a notification?
At this time, the "Renew Now" option becomes available once your card has been flagged for renewal, and you’ve received the notification from Float that your card(s) can be renewed early.
Will my card number change?
Yes. Because these cards are being migrated to a new issuing model, the card number, CVV, and expiry date will change.
What happens to my old card after renewal?
Your old card will be automatically cancelled once the new card is issued.
Who gets notified about the renewal?
Both the cardholder and Admins will be notified before the renewal date and again once the card has been successfully renewed.
How do I know which of my cards are affected?
There are two ways to identify which of your cards need to be renewed.
Option 1:
- The notification email you received from Float will list the cards eligible for renewal
- For Spenders, this email will only include your cards that are eligible for renewal
- For Admins, this email will include all of the business's cards eligible for renewal
Option 2:
- In Float, go to the Cards page
- There will be a banner at the top of the page listing the number eligible for renewal
- Selecting "View Cards" from the banner will automatically filter for all cards eligible for renewal
Will my transaction history still be available after the replacement?
Yes. Your full transaction history will remain intact and accessible after your card is renewed.
Will my recurring subscriptions keep working automatically?
No. Because your card number changes when your card is renewed, any merchants or vendors with your old card details on file will no longer be able to process payments.
You will need to manually update your card details with any merchants, subscription services, or vendors where the card is saved as a payment method.
What happens if I don’t update my saved payment details with a merchant?
Any transactions attempted by a merchant using your old card details will decline, as those details are no longer valid after renewal.
To avoid payment disruptions, make sure to update your new card number, expiry date, and CVV with all merchants and subscription services as soon as your new card is issued.
Can I cancel the card instead of renewing it?
Yes, cancelling a card is an option. However, keep in mind that cancelling a card and creating a new one is not any different from renewing the card, and in some cases, may take longer.
For details on cancelling cards, see: How Do I Cancel a Card or Limit?