CAD PADs are currently in beta and available to customers in the beta group. If you don't see PAD account details in your account, your business hasn't been enabled yet. CAD PADs will be available to all customers very soon, but to opt in early, please reach out support@floatfinancial.com to have this feature enabled.
CAD Pre-Authorized Debits (PADs) let third parties withdraw funds directly from your CAD Cash account. Pay your payroll provider, the CRA and other billers straight from Float, under Float's own institution number.
Guide Overview
How to find your PAD account details
What CAD PADs enable
- Payroll providers
- CRA payments
- Insurance premiums
- Commercial leases and utilities
- Payment processors (e.g., Stripe, Shopify) that require a PAD-enabled account to receive payouts
Who can use CAD PADs
Float Business Accounts customers in the beta group with a CAD Cash account, once Float enables PADs for your business and your business passes verification (KYB).
How to find your PAD account details
Only Administrators and Bookkeepers can see account details.
- Log in to app.floatfinancial.com
- Go to Accounts > Overview > CAD Cash
- Click the Account Details tab, then the EFT tab
- Copy each detail, click Copy All, or click Download PDF
- Share the details with the biller or provider requesting PAD authorization
Use your legal business name. Give billers and providers your business's legal name, not your DBA (operating) name, even if your account details page or PDF shows the DBA. A name mismatch can cause a provider to reject your details or flag a payment.
Can't see your details? They appear once your business has passed KYB and PADs are turned on for you. If you still don't see them, contact support@floatfinancial.com.
Your account details page also tells you PADs are supported. If PADs are turned off on your account, the same page says so. Your details still receive payments.
How account detail downloads look
Previous account details
Your previous CAD EFT details only received payments, so they can't be used for PADs. They stay available while you move your billers over. Float will reach out to customers using existing account numbers well before the migration deadline.
- Go to Accounts > Overview > CAD Cash > Account Details > EFT
- Open Previous Account Details
If a biller has your previous details, share your new ones before setting up a PAD.
Viewing PADs in your account
PADs show up in your recent account activity, Accounts > Funding History and your monthly Statements.
- Debits: Pre-authorized Debit (PAD) EFT
- Credits received: Inbound Payment EFT
PADs aren't instant. Float processes them on business days only, so a PAD initiated on a Friday may not be processed until the next business day. Please ensure that you keep your balance funded ahead of time.
When your balance is too low
- Float emails all Administrators on your account.
- You have until 5 PM ET the next business day to add funds.
- If your balance is still too low, Float processes the PAD and immediately reverses it. Your balance may briefly show below zero.
You'll see both the debit and the reversal in Funding History and on your statement. Float doesn't charge NSF fees.
When a PAD is returned
Float returns a PAD it can't pay. The return appears in your recent account activity, and the reason appears in plain language on your statement. Reasons you may see:
| Reason | What it means |
|---|---|
| Insufficient funds | Your balance couldn't cover it by the deadline |
| Account not found | The account number or transit number is invalid |
| Payer name incorrect | The name on the PAD doesn't match your business |
| Currency mismatch | The PAD isn't in CAD |
| Debit not permitted | PADs are turned off on your account |
| No agreement | You told Float no PAD agreement exists |
| Account closed or frozen | The account can't accept debits |
Disputing a PAD
If you see a withdrawal you don't recognize, or an amount that's wrong, reach out to support@floatfinancial.com right away. Gather any reference numbers from your statement first.
You can't block a specific biller or reject a PAD in the app at this time.
Frequently Asked Questions
Are CAD PADs available to everyone?
Not yet. They're in beta for the beta group, with full release coming soon.
Are USD PADs available?
Yes, as ACH Direct Debits. See: USD PADs Overview & FAQs.
Do I need to update my billers?
Yes, if they have your previous CAD EFT details. Share your new ones.
How are PADs emailed to me?
Float emails every Administrator about PAD activity, including low-balance notices, debits, returns and reversals.
Are there fees?
Float doesn't charge NSF fees.
Can I use a PAD with a payment processor like Stripe or Shopify?
Many processors require a PAD-enabled account to receive payouts. Your CAD Cash account with PAD details meets that requirement.
Do PADs export to my accounting system?
Not automatically. Enter them manually using your monthly account statement.
What if my provider says Float isn't a recognized institution?
Float's institution number (708) is new, and some providers haven't updated their systems yet. Contact support@floatfinancial.com and tell us who the provider is. We can share confirmation of Float's institution number.
I use Wagepoint. How do I add my Float account?
Wagepoint now accepts Float's institution number (708). When you set up your bank in Wagepoint:
- In the bank selector, select Other
- Enter 708 as the institution code
- Continue the bank setup using your PAD-enabled EFT account details from Float (see How to find your PAD account details)
Float isn't in Wagepoint's bank list yet, which is why you need to select Other. Wagepoint plans to add Float to the list.
What if PADs are turned off on my account?
Your account details still receive payments, and your account details page says PADs are off. Contact support@floatfinancial.com to turn them back on.