Interac e-Transfer
Interac e-Transfers to your business' Float balance arrive right away - in the time it takes to send an email.
The funds will be recognized in your business' Float balance immediately upon receipt. Usually this is nearly instantaneously, but some banks may hold transfers for up to an hour before releasing.
Learn more here: Funding Your Business' Float Balance with Interac e-Transfer
From Connected Bank Account
Transfers from a connected bank account follow standard EFT rails in Canada and can take 3 or more business days to complete.
Canada's banking system currently lacks Real-Time Rail payment systems and open banking. This prevents payment processing from operating 24/7, leading to longer transfer timelines.
We recommend leveraging the auto funding feature to to ensure cardholders don't find themselves unable to use their Float cards. To mitigate the wait for a transfer to complete, configure auto-funding so that both the transfer amount and the balance threshold are each sufficient to support at least five business days of typical spending.
See: Auto-Funding your business' Float balance
Fast Funding
Fast Funding enables 1-business-day transfers from a connected bank account for customers who qualify after an approval process.
- Transfers started before 5:00pm Eastern are usually completed on the following business day but in some cases may take a full business day to process.
- Transfers started after 5:00pm Eastern or on a weekend or bank holiday are processed on the next business day and usually completed on the business day after that. Examples:
- A transfer started after 5:00pm Eastern on a Wednesday will usually be completed on Friday
- A transfer started after 5:00pm Eastern on a Friday, or anytime on Saturday or Sunday will usually be completed on Tuesday.
Fast Funding is a powerful solution for qualifying customers who wish to fund a USD Float account and/or load more than $25,000 CAD in a single transfer.
For more information, see: Fast Funding FAQ ⚡️
To find out if your business qualifies and start the enrolment process, contact support@floatfinancial.com.