Float supports USD reimbursements for businesses on the right plan, with the right settings, and with properly set-up users and bank accounts. This guide covers what’s needed to:
- Enable USD reimbursements
- Submit and approve USD reimbursement reports
- Issue direct payouts in USD from Float (or mark as paid manually)
Quick Guide to Enabling and Paying USD Reimbursements
To enable and pay out USD reimbursements:
- Your business must be Canadian and on Float's Professional or Enterprise plan.
- Your business must have completed KYB approval and Payments approval
- Enable reimbursements and direct payouts under Reimbursements > Settings
- Enable USD payouts in the same settings area
- Fund your USD payouts by either:
- Paying directly from a connected a Canada-domiciled USD bank account (Pro plan only), or
- Paying from your USD Float cash balance (via Float FX conversion from CAD or from a connected USD bank account)
- Users must:
- Be US-based
- Connect a US-domiciled USD bank account
- Submit the reimbursement in USD
What’s Required to Use USD Reimbursements
Plan Requirements
Essentials:
- Can only create CAD reimbursements
- Can issue CAD direct payouts from Float cash balance only (not from a connected bank)
Professional / Enterprise:
- Can create reimbursements in CAD or USD
- Can pay reimbursements from Float cash balance or a connected bank account
Business Requirements
Canadian businesses:
- Can issue CAD and USD payouts
- Pay from Float cash balance or connected bank account (with Pro Plan)
US businesses:
- Can’t issue direct payouts
- Can still create and track reimbursements, and mark them as paid
User Requirements
Canada-based users:
- Can connect CAD accounts from Canadian banks
- Can’t receive USD direct payouts
US-based users:
- Can connect USD accounts from US banks
- Can receive USD direct payouts (if reimbursement submitted in USD and business is Canadian)
Frequently Asked Questions (FAQs)
What are the requirements to enable USD reimbursements?
To enable USD reimbursements in Float, your business must be on the Professional or Enterprise plan and have completed KYB and Payments approval. You'll also need to enable reimbursements and USD payouts in your Settings.
What are the requirements to pay out USD reimbursements from Float?
To issue USD payouts, the business must be Canadian and on the Professional or Enterprise plan and have completed KYB and Payments approval. The business must either hold a USD Float cash balance or connect a Canada-domiciled USD bank account. Additionally, the reimbursement must be submitted in USD by a US-based user who has connected a US-domiciled USD bank account.
If my Canadian business has an American employee, can they use Float for reimbursements?
Yes, this is a supported and common use case. The employee must have been verified with a US address and must connect a US-domiciled USD bank account. Your business must be on the Professional or Enterprise plan, and payouts must be funded in USD either from your Float cash balance or from a Canada-domiciled USD bank account.
What does upgrading to Professional unlock for reimbursements?
Upgrading from the Essentials plan to Professional unlocks the ability to create reimbursement reports in USD and issue USD payouts. It also allows your business to draw from connected CAD or USD bank accounts as reimbursement payment sources instead of only paying from your Float cash account balance.
Can Essentials customers issue any USD payouts?
No. Essentials customers can only issue CAD payouts, and only from their Float cash balance, not from a connected bank account.
Can US-based users receive CAD payouts?
No. US-based users cannot connect CAD accounts and are only eligible to receive reimbursements in USD.
Can I mark a USD reimbursement as paid without sending a payout?
Yes, all businesses on any plan can manually mark a reimbursement as paid, regardless of whether it was submitted in CAD or USD. This is useful for tracking out-of-platform reimbursements.
Can a Canada-based user receive USD payouts?
No, Canada-based users cannot connect USD bank accounts, so they cannot receive USD reimbursement payouts from Float.
Can US-based businesses use Reimbursements?
US-based entities cannot use Float to send reimbursement payouts. They can still use Float to track and approve reimbursement reports, but must handle payments externally (e.g., via payroll or bank transfer) and mark them as paid in Float.