How does funding work?

Float’s pre-funded program requires you to load your account with funds in order to spend them across all cards on your account.

The funds in your account collectively form your business spending power. This is visible to all administrators on the funding and overview pages of your Float account. You must have sufficient business funds to process transactions.

In order to fund your Float account, you must first establish a successful bank connection with Float! 

Connecting CAD Bank Accounts to Float

Connecting USD Bank Accounts to Float

If you have connected your bank account successfully, you can initiate a transfer by navigating to Banking > “Transfer Funds” and populating the form with the amount, currency etc. Submitting this form initiates a top-up immediately!

Note: Top-ups can be cancelled within a very brief window. If you would like to attempt to cancel a recently initiated top-up please reach out to support@floatcard.com.

Top-up timelines

Float top-ups follow standard EFT rails in Canada. This can take 3 or more business days.

You may notice the funds being withdrawn from your bank account within 1-2 business days. This indicates that the transfer has been approved and initiated by your bank, and the funds will be added to your account as soon as we receive it on our end.

Canada's banking system currently lacks Real-Time Rail payment systems and open banking. This prevents payments from operating 24/7, leading to longer transfer timelines.

The estimated transfer completion dates in Float are an accurate representation of the completion date unless the transfer is blocked by any unexpected errors. In this case, you will receive an email notifying you of the failed top-up and the reason for the failure.

Read more here: How long does a top-up take to complete?