Float cards that were created in 2021 are expiring in 2025. Due to changes in our issuance model, these cards can't be directly reissued with the same card number. Brand new cards will need to be issued with and expiring cards will need to be cancelled. This process will happen automatically at the expiration date or you can control the timing by proactively cancelling and creating new cards.
Note: once cards expire, all transactions on them will decline.
This guide will help you ensure payments for recurring expenses continue seamlessly and avoid unnecessary declines.
Expiring Virtual Cards
Your existing virtual card will expire on the last day of the expiration month.
It will be automatically deactivated replaced with a new virtual card.
The new virtual card will:
- have a different card number, CVV and expiration date from the expired card
- become active immediately
- have the same configurations as the expired card, including submission policies, limits and automation
- be automatically reflected in digital wallets where the expired card was active
- reflect the transaction history of the expired card
The new virtual card will not:
- retain the card number, CVV or expiration date from the expired card
- be automatically updated where it is saved as a payment method for your vendors or subscriptions
Important: If you have used this virtual card for any e-commerce wallets or subscriptions, you'll need to update them to the new card details on the merchant website.
Expiring Physical Cards
A new physical card will be shipped to you. When you receive it, activate it from activate.floatfinancial.com and destroy your old card. The expiring card will be immediately deactivated upon activation of the new card.
If not already cancelled, existing physical card will expire on the last day of the expiration month and subsequent transactions will be declined.
The new physical card will:
- have a different card number, CVV and expiration date from the expired card
- have the same configurations as the expired card, including submission policies, limits and automation
- be automatically reflected in digital wallets where the expired card was active
- reflect the transaction history of the expired card
The new virtual card will not:
- retain the card number, CVV or expiration date from the expired card
- be automatically updated where it is saved as a payment method for your vendors or subscriptions
Important: If you have used this virtual card for any e-commerce wallets or subscriptions, you'll need to update this to the new card details on the merchant website.
Proactively Replacing Expiring Cards
Optionally, you can replace an expiring card in advance of its expiration date. This process can be performed by Float Administrators and involves cancelling the existing card and creating a new card.
- Create a new card (Physical) or (Virtual) - This will allow you to move spend over to new cards before your existing one(s) expire.
- Set up card limits - Float cards are issued with a limit of $0. Until a limit is added, no spending will be possible on the card.
- Set card automations - If you wish to add any accounting automations to the card, go to Cards > Select Card > Scroll to Accounting Automations > Add relevant Descriptions, GL code, Accounting Vendor, Tax codes, and QBO Classes
- Add new cards to subscription payments - Save your new card details to recurring expenses associated with your expiring cards.
- Delete the expiring card - Once the new card has been set up and in the case of a physical card, it has been received, the last step will be to delete the expiring card
If you do not wish to create a new card to replace the expiring card, you can proceed with simply cancelling the card.