If you receive a refund on a Float card, here's how it will appear and affect your account, depending on the card's status and timing.
Refunds on Active Cards
When a refund is processed on an active Float card:
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Transaction Visibility: The refund will appear on the 'Transactions' page and within the individual card's details, highlighted in green.
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Business Balance: The refunded amount will be credited back to your business's Float balance, increasing your available spending power.
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Card Limit: The card's Available Balance will increase by removing the amount of the refund from the "Spent" total for the current period.
Refunds on Cancelled or Expired Cards
If a refund is issued to a cancelled or expired Float card:
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Transaction Visibility: The refund will still appear on the 'Transactions' page.
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Business Balance: The refunded funds will be added back to your business's Float balance, increasing your available spend power.
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Viewing the Refund: You can view the refund by navigating to the 'Archived Cards' tab on the "Cards" page and selecting the specific card.
Refunds After a Recurring Limit Refresh
If your Float card has a recurring spending limit (e.g., daily, weekly, monthly, or yearly), the card’s available balance resets at the start of each new limit cycle.
When a refund is processed after this reset:
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Transaction Visibility: The refund will appear in the new cycle’s transactions on the card.
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Spending Impact: The refunded amount reduces the “spent" total for the cycle in which the refund was received — not the cycle in which the original purchase was made.
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Example: Suppose your card refreshes monthly. You make a $50 purchase in May and receive the refund in June. The $50 refund will appear in June’s transactions and reduce the June “current spent” amount. It won’t retroactively affect May’s spend or limits.
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Card Limit: This does not increase your recurring limit — it just reduces the amount considered “spent” for the current cycle.
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Available Balance: Refunds for transactions made during a previous limit cycle cannot increase the Available Balance for the current limit cycle beyond the active Card Limit.
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Card Status: If the card has expired or been cancelled, the refund will still be processed back to your business's Float balance but won’t affect card-level limits or spending power.
Summary of Refund Processing in Float
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Transactions Page: Refunds are displayed on the same card and associated with the same spender.
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Business Balance: Refunds increase your total available Spending Power.