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Overfunding your Charge Account

  • Updated
Charge customers can continue to load funds on top of their Charge limit to increase their spending power. This can be done through a topup from your connected bank account, or a transfer from your Float Cash Account balance. 

Please note: Funds that have been added to overfund your Charge limit do not earn interest.
 
If you're simply looking to pay down the credit on your Charge account, see: How Can I Increase my Charge Card Spending Power. 

 

How to Overfund Your Charge Account

From a Connected Bank Account: 

  1. Login to app.floatfinancial.com

  2. Navigate to Accounts

  3. Click "Add Funds" > "Bank Transfer"

  4. In the Add Funds window:

    • Input the amount you'd like to top up
    • Select the connected bank account that you'd like to fund from
    • Select your CAD/USD Charge account to transfer the funds to
    • Add a comment (required)

  5. Click "Continue" > Review the transfer summary

  6. Click "Continue"

From Your Cash Account Balance:

  1. Login to app.floatfinancial.com

  2. Navigate to Accounts > Select "Transfer"

  3. In the Transfer Funds window:

    • Input the amount you'd like to transfer
    • Select the Cash Account you'd like to transfer from
    • Select the Charge account you'd like to transfer to
    • Add a comment (required)

  4. Click "Continue" > Review the transfer summary

  5. Click "Continue"

 

How to reflect the overfunding in your accounting software


If you set up your accounting software for Charge, your Float clearing account in your accounting software should appear as a "Credit Card".

For top-ups from your connected bank account, to correctly reflect the additional prepaid balance in Float (overfunded amount), you should record the bank transfer to Float in your Bank Feed as a transfer to the "Credit Card" clearing account that you created for the Charge account.

 

Note: Since you are overfunding the Float account in your accounting software, your Clearing account balance may appear negative for a short period of time. That's expected and once transactions are exported from Float and are added against your creating balance, the negative balance will disappear.

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