How to Start Spending with Float Cards

Understanding Float Pre-Funded Cards

Float pre-funded cards allow your business to spend using the balance available in your Float Cash account (or Charge account for Charge customers).
Here’s what you need to know:

• Your business must have an available cash balance to fund card spending.

• Each card must have an active spending limit with available balance remaining.

• Cards can only spend up to the lower of:

  • Your business’s available cash balance

  • The card’s remaining spending limit

If either the business balance or the card limit is too low, cardholders will not be able to spend.

Step 1: Fund Your Float Cash Account

To get started, your Float cash account must have a sufficient balance.

• CAD cards draw from your CAD cash account.

• USD cards draw from your USD cash account.

You can add funds by:

• Connecting your business bank account to Float and transferring funds
  (See Connecting CAD Bank Accounts to Float and Connecting USD Bank Accounts to Float)

• Sending an Interac e-Transfer
  (See Funding Your Business Float Balance with Interac e-Transfer)

• Setting up Auto-Funding for automatic top-ups
  (See Auto-Funding and Auto-Paydowns)

To view your cash balances, navigate to Banking > Accounts in Float.
(See Accounts Page Overview)

 

Step 2: Create and Issue Cards

Once your cash account is funded, create cards for your team:

• Virtual cards can be created instantly through Float.
  (See Creating Virtual Float Cards)

• Physical cards can be ordered and shipped to employees.
  (See Ordering Physical Float Cards (Admin Overview))

Tip: Virtual cards can also be added to mobile wallets like Apple Pay and Google Pay for faster use.

 

Step 3: Set Spending Limits on Cards

Float cards don't have funds allocated directly to them, rather each card has it's own configured spending limit(s) which enable it to spend up to a defined amount, provided the funds are available in your business's balance. 

Each card must have at least one active Limit in order to be can be used.

Two types of limits can be set: 

• Temporary Limits allow you to specify an upper spending limit which expires completely at a date of your choosing. Only the Limit expires - the card remains Active and new Limit(s) can be added. 
• Recurring Limits allow you to specify a spending limit that recurs at a frequency of your choosing (Daily, Monthly, etc.) 

You can edit or remove limits at any time. Limits are cumulative and a card can have a single Recurring Limit and/or multiple Temporary Limits active simultaneously. 

(See Setting and Editing Limits on Float Cards)

Reminder: Even if a card’s limit is high, spending is capped by the business’s available cash balance if it is lower. 

For common spending power questions, review:

• Why does my card show $0.00 in Spending Power, but the business has an available balance?

• Why does my card say "Business Funds are lower than card’s remaining limit"?
   

Recap: To Start Spending with Float Pre-Funded Cards

You’ll need:

• A funded Float cash account

• Cards created and issued

• Active card limits set up

Need help? Email us at support@floatfinancial.com.