This article covers common payment questions for Reimbursement, Bill Pay and Send Money payments.
FAQ Directory
Bill Pay FAQs
Why are bank-funded payments slower?
How do I send a payment confirmation to a recipient?
What will the recipient see when receiving the payment?
When a payment is processing, when will the funds be debited from my Float Cash balance?
Reimbursement FAQs
Is there a minimum amount requirement for Reimbursement payments?
Can I send a Reimbursement payment confirmation to a spender?
Send Money FAQs
When will funds for Send Money payments be removed from my Cash balance?
Will Send Money payments sync to my connected accounting software?
Can Send Money payments be unscheduled or rescheduled?
Payments FAQs
Is there a fee for sending a payment?
Which roles can give funds release approval?
What happens if funds release approval isn't given before the payment date?
Where can I view a history of funds release approval activity for a payment?
Can I retry a failed or cancelled payment?
Will failed payments affect our business's credit?
Why is a payment's status "Payment Sent" in Float, but the recipient hasn't received the funds yet?
Bill Pay FAQs
Why are bank-funded payments slower?
Bill payments from your Float Cash balance are faster because funds are pre-loaded. Bill payments from connected bank accounts depend on the standard EFT or ACH network, which is slower and controlled by external banks.
See: Bill Payment Processing Times and Cutoffs
How do I send a payment confirmation to a recipient?
Share a live tracking link:
- Navigate to Bill Pay > Payments
- Select the three-dot menu next to the bill > Select "Share Payment Confirmation (web link)" > This will open a live, shareable confirmation page in a new tab
Download and share a PDF confirmation:
- Navigate to Bill Pay > Payments
- Select the three-dot menu next to the bill > Select "Download Payment Confirmation (PDF)"
Automatically send payment confirmations to recipients:
Go to Bill Pay > Manage Recipients
Select a recipient > Scroll to the Payment Confirmations section
Toggle ON and enter the recipient's email address > Click "Save"
See: Viewing and Sending Bill Payment Confirmations to Recipients
What will the recipient see when receiving the payment?
Recipients will see:
- Your legal business name
- The invoice number
- (If supported) A reference number in the payment description
These details help recipients reconcile the payment with their records.
See: Viewing and Sending Bill Payment Confirmations to Recipients
When a payment is processing, when will the funds be debited from my Float Cash balance?
If the funding source for a Bill Pay payment is your Float Cash balance, when the payment is processing (payment status updated to "In Progress"), there is no specific time as to when the funds will be debited from your Float Cash balance. The funds can be debited at any time during the payment processing period of 1-2 business days.
Reimbursement FAQs
Is there a minimum amount requirement for Reimbursement payments?
Yes, the reimbursement amount must be a minimum of $1.00 (CAD/USD) in order for the payment to be scheduled.
If you are sending a test payment, please ensure that the amount is over $1.00; otherwise, you will run into an error.
Can I send a Reimbursement payment confirmation to a spender?
Yes. A payment confirmation link can be used to send to a spender.
How to send payment confirmation:
- Navigate to Payments > Complete or All Payments tabs
- Select the ellipses next to the Reimbursement payment > Select "Share Payment Confirmation" > This will open a live, shareable confirmation page in a new tab
Send Money FAQs
What is Send Money?
Send Money lets you pay a recipient or contractor directly from your Float balance, no bill or reimbursement report required.
For more details, see: Send Money Overview
When will funds for Send Money payments be removed from my Cash balance?
Unlike Bill Pay, Send Money payments will remove the funds from your Cash balance right after submitting the payment.
If you select the payment to be sent today, the funds will be debited from your Float Cash balance right away. If the same-day payment processing cutoff time has been missed, the payment will be processed on the following business day.
For more details, see: Send Money Payment Processing Times, Cutoffs and Failures
Will Send Money payments sync to my connected accounting software?
Yes. Send Money payments can sync to QBO and NetSuite. Exports to Xero are coming later!
For more details, see: How to Export Send Money Payments to Your Accounting System
Can Send Money payments be unscheduled or rescheduled?
Send Money payments can't be unscheduled - they can only be rescheduled for a different payment date.
For more details, see: How to Unschedule and Reschedule Payments
Payments FAQs
Is there a fee for sending a payment?
-
Reimbursement payments:
- EFT (CAD): No fee
- ACH (USD): No fee
-
Bill Pay payments:
- EFT (CAD): No fee
- ACH (USD): No fee
- Wire Transfers (CAD and USD): $20 CAD
- SEPA (GBP and EUR): No fee
-
Send Money payments:
- EFT (CAD): No fee
- ACH (USD): No fee
- Wire Transfers (CAD and USD): $20 CAD
- SEPA (GBP and EUR): No fee
How long do payments take?
Reimbursement payments:
- Reimbursement payments typically arrive in 1 business day after the payment is released.
Bill Pay payments:
-
From Float Cash Balance:
- Payments typically take 1-2 business days to send to your recipient
- Payments must be scheduled before 12 PM ET for same day processing
- The receiving bank may apply additional processing time before depositing the payment into the recipient's account
-
From Connected Bank Account:
- Payments generally take 3-5 business days to send to your recipient
- Payments must be scheduled before 5 PM ET for same day processing
- The receiving bank may apply additional processing time before depositing the payment into the recipient's account
- Payments from Connected Bank Accounts are available to Professional plan and Enterprise plan customers only
Send Money payments:
- Once processing has begun, payments from your Float Cash Balance typically take 1-2 business days to send to the recipient.
- The cutoff time for same-day payments to begin processing is 12 pm ET. If you schedule a Send Money payment after the cutoff time, the payment will begin processing the next business day.
Which roles can give funds release approval?
Only the Primary Administrator and Administrators can give funds release approval for Payments.
See: How to Give Funds Release Approval
How are payments processed?
Float groups all scheduled payments by day and currency into a single batch withdrawal. Even if you make 10 payments, your bank will only see one transaction.
What happens if funds release approval isn't given before the payment date?
If the payment date passes and funds release approval hasn't been given, the bill will be marked as "Authorization Overdue". Admins will need to reschedule the payment date and give funds release approval before the new payment date.
Where can I view a history of funds release approval activity for a payment?
You can view a full history of payment-related events, including when funds release approval was given, in the Payments Activity Log. The Activity Log is accessible from the Payment Details panel on the Payments page by clicking a Payment > Selecting "Activity Log".
For more details, see: Activity Logs for Payments
Can I retry a failed or cancelled payment?
Yes. You are able to reschedule failed Reimbursement, Bill Pay, and Send Money payments. Payments can fail for various reasons, and it's important to resolve the failure reason before rescheduling the payment.
Once resolved, to reschedule the payment, see: Handling and Retrying Failed Payments
Will failed payments affect our business's credit?
No. Float does not report to credit bureaus. Failed or cancelled payments do not impact your business’s credit rating.
Why is a payment's status "Payment Sent" in Float, but the recipient/spender hasn't received the funds yet?
When a payment shows as "Payment Sent" in Float, this indicates that Float has successfully sent the payment to the beneficiary bank - not that the recipient/spender has received the funds in their account.
After Float sends the payment, the beneficiary bank may still need additional processing time before sending the funds to the recipient's bank account. This processing time varies depending on the receiving bank.