How does my business get access to USD cards?
Can I have USD on my current CAD Float Card?
Do I need a credit check for the USD card?
Do users need to validate their identities again in order to get USD Cards?
What additional information do you need to enable USD cards on my account?
How is the USD card different from the CAD card?
Can I connect a US Bank Account to fund card purchases?
Why was I prompted to enter a PIN for my Virtual USD Card transaction?
Can I fund purchases on my USD card without a USD bank account?
Is there a way to differentiate USD transactions and CAD transactions?
How does my business get access to USD cards?
New Users: When you sign up for Float as a new business, you can directly apply for both CAD and USD cards. Our operations team will manage onboarding for both cards simultaneously and you will be able to start spending in CAD and USD as soon as you are approved.
Existing Users: Please reach out to your dedicated Customer Success Manager, Account Manager or support@floatfinancial.com!
Can I have USD on my current CAD Float Card?
Our CAD and USD cards are distinct cards that are funded separately from your CAD and USD Spending Powers. Both cards are seamlessly managed in the Float platform.
Do I need a credit check for the USD card?
No, there is no requirement for a credit check.
Do users need to validate their identities again in order to get USD Cards?
Individual cardholders do not need to validate their identities again in order to be issued USD cards.
Due to regulations at our US partner bank, large shareholders of your company (25+% equity stake) are required to perform an identity verification (not a credit check).
While we can reuse KYC/KYB information, we need to ensure all eligibility criteria is met. Any missing verifications will need to be completed before a business is onboarded to USD spend.
What additional information do you need to enable USD cards on my account?
At the time of onboarding to USD cards, our operations team will review the documentation we have on file and determine if there is anything additional that we need to collect.
How is the USD card different from the CAD card?
Functionally, the spending and in-app management experience should be nearly identical to our Canadian cards.
The biggest benefits of USD cards are:
- Spend and pay in the same currency: If a merchant charges you in USD, you are billed in USD.
- Higher acceptance rates: With cards issued by a US domestic bank, acceptance rates will be much higher outside of Canada. No more guessing how to enter a Canadian postal code when paying at a US gas station pump.
- PIN Setting: For Canadian cards, the PIN must be set prior to the card being shipped. The PIN can be set for USD cards after the card is received.
Can I connect a US Bank Account to fund card purchases?
Not right now. We support connecting Canadian-domiciled USD bank accounts to fund your USD Spending Power. For more information on how to connect a bank account, please visit: Connecting USD Bank Accounts to Float.
Why was I prompted to enter a PIN for my Virtual USD Card transaction?
Some US merchants will require spenders to enter a PIN, when using a virtual card through a mobile wallet in person. You will be able to set a PIN for your virtual card by following the steps below:
- Navigate to app.floatfinancial.com
- Select Cards > Physical > Your Virtual USD Card
- Select the three dots on the right hand side of your screen
- Select "Set PIN" from the drop down menu
Can I fund purchases on my USD card without a USD bank account?
Yes! Float FX allows you to transfer funds from CAD to USD (or vice versa) at market leading FX rates to fund your USD Spending Power.
Is there a way to differentiate USD transactions and CAD transactions?
We highlight the currency associated with all your cards and transactions through out the platform.
Do USD cards earn Cashback?
Yes! Float customers receive 1% cash back on all spend beyond $25k for a given month. For more information on Cashback, please visit our help centre article here: Float Cashback FAQ.