This article answers common questions about how funds move in and out of your Float account. It includes information on funding options, withdrawals, transfer limitations, and applicable fees.
For more information regarding funding your Float account and the withdrawal process, please review our articles:
Connecting CAD Bank Accounts to Float
Connecting USD Bank Accounts to Float
Can I add funds to our Float account using an EFT transfer?
You cannot fund your Float balance directly via EFT transfer. However, you can use Interac e-Transfer for instant funding up to $25,000 CAD, or connect a bank account to transfer larger amounts using standard EFT rails. This process can take 3 or more business days.
Can I move funds directly from one business's Float account to another business's Float account?
It is not possible to transfer funds between separate Float business entities to another. If your business has multiple Float business entities, you can withdraw funds from one Float business to your connected bank account, then fund another Float business from the connected bank account.
Can I withdraw my funds from Float by e-transfer or to another financial institution?
It is not possible to withdraw funds via e-transfer or to another financial institution. When you withdrawal funds from your Float balance, the funds will be returned to your connected bank account.
Is there a fee to withdraw funds from Float?
There are no additional fees when withdrawing funds from your Float account to the connected bank account.
Is it possible to connect a second bank account to the same Float business?
You can link multiple bank accounts to your Float account, but only one can be set as your active funding source at a time. For details on how to update or remove a connection, check out our article How to Change or Disconnect a Bank Account Connection.