Last Updated: August 2026
These Terms of Service (the “Agreement”) set forth the terms and conditions that govern the provision and use of: (i) the SaaS Services for the provision of an employee spend management solution; (ii) consulting, training, and other Professional Services made available by Float in connection with the SaaS Services; and (iii) other Float services that do not possess distinct terms of service. By applying for or using the Services, you agree to the terms and conditions set out in this Agreement. Please review this Agreement carefully.
This Agreement replaces all previous terms and conditions governing the Services. However, it does not replace or modify any separate agreements that apply to specific products or services, including but not limited to the Agreements listed at floatfinanical.com/legal, or any other product-specific terms made available by Float or the applicable Issuer. Float may update or replace this Agreement at any time by posting an updated version to our website, and we may provide you with advance notice of certain significant changes. Your continued use of the Services after any such update constitutes your acceptance of the revised Agreement.
1.1 Provisioning of the SaaS Services
Subject to your and your Permitted Users’ compliance with the terms and conditions of this Agreement, Float will make the SaaS Services available to you on the terms and conditions set out in this Agreement during the Term.
1.2 Card Terms
The SaaS Services may include access to and use of Cards. As a condition to using the SaaS Services and Card Services, where applicable, you must agree to the Customer Cardholder Agreement applicable to the relevant Corporate Spend Program, and you must ensure that each Permitted User is presented with and agrees to the applicable Card User Terms and Conditions. Failure to comply with the Customer Cardholder Agreement or the Card User Terms and Conditions is a breach of this Agreement.
1.3 Card Use
You agree to establish and maintain controls designed to ensure that the Cards are only used for bona fide business-related Charges and in compliance with the Cardholder Agreement, the Card User Terms and Conditions, and the Card Network rules. You are solely responsible for Charges made by any individuals given access to Cards, even if they are not the person associated with or named on the Card. Float, the Issuer, Card Networks, or other intermediary Third Party Service Providers, including merchant acquirers, may deny, decline, suspend, or reverse Charges in accordance with the applicable Customer Cardholder Agreement, Card User Terms and Conditions, Card Network rules, this Agreement, or Applicable Laws. Float is not responsible for any Losses caused by or related to Charges that are denied or reversed. You are responsible for, and will promptly reimburse Float for, any Fines imposed on, charged to, or passed through to Float that arise out of or relate to the acts or omissions of you or any Permitted User, or your or their use of the Cards or a Corporate Spend Program, in each case to the extent permitted by Applicable Law.
If you have a dispute with a merchant regarding a Charge, including delivery of incorrect goods or services or being charged the wrong amount, you should first attempt to resolve the dispute with the merchant. Please also refer to the dispute resolution process set out in the Cardholder Agreement or the Card User Terms and Conditions, as applicable.
1.4 Linked Account
We will use Financial Data from Linked Accounts, as well as other Customer Data you supply, to verify account balances and account information, establish or adjust spending limits, identify spending patterns and potential fraud, analyze and report transactions, and provide Services to you. You must maintain at least one active Linked Account, unless Float otherwise permits. Float may also require you to provide access to Customer Data, including details of Other Accounts, directly or through Third Party Services for the purpose of underwriting financial products.
1.5 Rewards
We may offer reward programs, including referral programs, from time to time in our sole discretion. The terms and conditions of any such reward programs will be available on our website. We may also provide you with promotional offers from third parties from time to time in our sole discretion. Float is not the provider of any services offered by such third parties, and these services may be subject to additional terms and conditions established by the third-party provider. We are not responsible for resolving any disputes you may have with a third-party provider and we are not responsible for any Losses related to or caused by such promotional offers and any services you choose to receive from a third party. These rewards, including their nature, types, values, or any other element, may be changed at any time without prior notice.
1.6 Restrictions on Use
You will not, and you will not permit others to:
1) sub-license, sell, rent, lend, lease, or distribute the SaaS Services or any Intellectual Property Rights therein, or otherwise make the SaaS Services available to parties other than Permitted Users;
2) use the SaaS Services to permit timesharing, service bureau use, or commercially exploit the SaaS Services;
3) Use or access the SaaS Services:
i) in violation of any Applicable Law or Intellectual Property Right;
ii) in a manner that threatens the security or functionality of the SaaS Services; or
iii) for any purpose or in any manner not expressly permitted in this Agreement;
4) use the SaaS Services to create, collect, transmit, store, use, or process any Customer Data:
i) that Customer does not have the lawful right to create, collect, transmit, store, use, or process;
ii) that violates any Applicable Laws, or infringes, violates, or otherwise misappropriates the Intellectual Property Rights or other rights of any third party (including any moral right, privacy right, or right of publicity); or
iii) that contains any computer viruses, worms, malicious code, or any software intended to damage or alter a computer system or data;
5) Modify the SaaS Services;
i) attempt to reverse engineer, decompile, or disassemble the SaaS Services;
ii) access or use the SaaS Services for the purpose of building a similar or competitive product or service; or
iii) perform any vulnerability, penetration, or similar testing of the SaaS Services.
1.7 Additional Obligations
You will, except to the extent due to Float's breach of this Agreement: (i) assume all risk and liability associated with transactions, including any risk of counterfeit, charged-back, or fraudulent transactions; and
(ii) have sole responsibility for verifying the accuracy, completeness, or authenticity of any data furnished by you or a third party to Float, the Issuer, or Float’s Third Party Service Providers, as applicable.
1.8 No Online Gambling
Customer agrees not to use the SaaS Services in connection with any business of placing, receiving, or otherwise knowingly transmitting bets or wagers by any means that involve the use, at least in part, of the Internet, or for any other transaction that is prohibited by Applicable Laws, including, Federal Reserve Regulation GG and the Unlawful Internet Gambling Enforcement Act of 2006.
1.9 Suspension of Access; Scheduled Downtime; Modifications
Float may, from time to time and in its discretion, without limiting any of its other rights or remedies at law or in equity under this Agreement:
(i) suspend your access to or use of the SaaS Services if you breach this Agreement and such breach:
(a) is incapable of cure; or
(b) being capable of cure, remains uncured seven (7) days after Float provides you with written notice of such breach; and
(ii) make any Modifications to the SaaS Services, provided that Float will use commercially reasonable efforts to notify Customer in advance of any material changes to the SaaS Services.
Notwithstanding Section 1.9(i), Float may suspend your access to or use of the SaaS Services immediately and without prior notice or any cure period where Float reasonably believes such suspension is necessary to prevent or address fraud, suspected fraud, unauthorized use, or a security risk, or to comply with Applicable Law or the requirements of an Issuer, Card Network, or Governmental or Regulatory Authority. Float will use commercially reasonable efforts to notify you of any such suspension as soon as reasonably practicable.
1.10 Subcontracting
Float may engage Third Party Service Providers to provide the Services. Float’s handling of Personal Information in connection with such engagements, including any transfer of Personal Information to a Third Party Service Provider for processing (including outside Canada), is governed by Float’s Privacy Policy and Applicable Laws.
2.1 Float Business Accounts
Float may make available commercial accounts for business Customers (“Float Business Accounts”) as part of the Services. Float Business Accounts are intended solely for business use.
Float Business Accounts enable Customers to receive, hold, and transfer funds using supported payment methods, including EFT, ACH, wire transfers, SWIFT, or other payment rails made available through the Services. Supported payment methods may change from time to time. Float is not a bank. To the extent funds are used in connection with Cards, the applicable Customer Cardholder Agreement may contain additional terms regarding the availability, use, settlement, and treatment of those funds.
Customer funds associated with Float Business Accounts are held in designated trust accounts at qualified financial institutions in accordance with Applicable Laws, including applicable requirements under the Retail Payment Activities Act (Canada). Such funds are segregated from Float’s operating funds, subject to this Agreement.
Float is not a bank. Any deposit insurance coverage is provided, if applicable, through Float’s partner financial institutions and remains subject to the terms, conditions, coverage categories, and limits established by the applicable deposit insurer.
2.2 Yield Feature
Float may, in its sole discretion, make available a yield or interest feature in connection with eligible balances held in Float Business Accounts (“Yield”).
Yield:
(a) is variable and not guaranteed;
(b) may be subject to eligibility criteria, balance thresholds, activity requirements, spending levels, or other conditions;
(c) may differ by currency; and
(d) may be tiered or usage-based.
Float may determine the structure of Yield, including rates, tiers, or other qualification requirements.
2.3 Calculation and Crediting
Yield, if offered, will be calculated using a methodology determined by Float. Calculation methods may include daily balance calculations with periodic crediting.
Yield may be credited monthly or at such other frequency as determined by Float.
Float may determine applicable rates, spend or usage thresholds, eligible balances, allocation methodology, crediting schedule, and currency treatment.
All rates, thresholds, eligibility criteria, and calculation methodologies are subject to change at any time in Float’s sole discretion, unless otherwise required by Applicable Law.
2.4 Changes and Discontinuation
Float may modify, suspend, restrict, or discontinue Float Business Accounts or Yield (in whole or in part) at any time, including by:
(a) changing rates;
(b) changing thresholds;
(c) changing calculation methods;
(d) introducing or applying minimum balance requirements;
(e) introducing or applying limits; or
(f) introducing or modifying fees.
Float may adjust, withhold, reverse, or reclaim credited Yield amounts to correct errors, address suspected fraud or misuse, manage risk, comply with Applicable Laws, or enforce this Agreement.
2.5 Fees and Third-Party Charges
Float may charge fees in connection with Float Business Accounts or related payment services, subject to this Agreement.
While Float may advertise certain services as having no fees, Float reserves the right to introduce or modify fees upon prior notice as required under this Agreement.
Fees relating specifically to Cards are governed by the applicable Customer Cardholder Agreement and Card User Terms and Conditions.
Intermediary financial institutions or payment networks may deduct fees from transfers (including SWIFT transfers). Float is not responsible for such third-party deductions.
2.6 Regulatory Framework
Float Business Accounts are offered within Float’s regulatory framework as a registered money services business and retail payment service provider, as applicable. Float maintains safeguarding measures in accordance with Applicable Laws, including segregation of Customer funds in designated trust accounts.
Nothing in this Section creates a banking, deposit-taking, or savings account relationship between Float and Customer.
2.7 Taxes
Customers are solely responsible for determining and satisfying any tax obligations arising from Yield or other amounts credited in connection with Float Business Accounts. Float may provide reporting or disclosures as required by Applicable Laws.
3.1 Customer Data
Except as specifically set forth in this Agreement, nothing in this Agreement assigns or grants to Float any right, title, or interest, including any Intellectual Property Rights, in or to Customer Data.
Customer grants to Float a non-exclusive, worldwide, royalty-free, irrevocable, sublicensable, and fully paid-up right during the Term to access, collect, use, process, store, disclose, and transmit Customer Data to: (a) provide the Services; (b) improve and enhance the Services and its other offerings; and (c) produce data, information, or other materials that are not identified as relating to a particular individual or company. Float’s collection, use, and disclosure of any Personal Information contained in Customer Data is governed by Float’s Privacy Policy and Applicable Laws. Float may use, process, store, disclose, and transmit such data, information, and materials for any purpose and without restriction or obligation to Customer of any kind, and such right shall survive expiration or termination of this Agreement.
Float or its licensors retain all rights, title, and interest, including all Intellectual Property Rights, in and to: (i) the Services; (ii) anything used, developed, or delivered by or on behalf of Float under this Agreement; and (iii) any Modifications to the foregoing.
Customer understands that communications from Float, the Issuer, and Float’s service providers, if applicable, will be treated in accordance with Float’s Electronic Communication Consent Agreement, Float’s Privacy Policy, the applicable Customer Cardholder Agreement and Card User Terms and Conditions, where applicable, and Applicable Laws.
Customer understands that Personal Information, including the Personal Information of Permitted Users, will be treated in accordance with Float’s Privacy Policy located at Float Financial Solutions Privacy Policy and Applicable Laws, including applicable privacy laws.
5.1 Customer User Accounts
Upon Customer’s request, Float will issue one or more administrator accounts to Customer that provide Customer with the capability to create user accounts (each, a “Customer User Account”) for use by Customer and all individuals who are employees or contractors of Customer that Customer wishes to have access to and use of the SaaS Services and Corporate Spend Programs (each user, and each administrator, a “Permitted User”).
Customer will ensure that each Permitted User uses Float Services only through their assigned Customer User Account. Customer will not allow any Permitted User to share their Customer User Account with any other person.
5.2 Responsibility for Permitted Users
You are responsible for identifying and authenticating all Permitted Users and for ensuring that the Permitted Users’ use of the SaaS Services and the Corporate Spend Programs is in compliance with this Agreement. You are responsible for selecting who in your organization should have access to Cards.
You agree to establish and maintain controls designed to ensure that all Permitted Users agree to the Card User Terms and Conditions and that Permitted Users use the Cards only for Customer’s business purposes and in compliance with Card Network rules.
5.3 Security; Unauthorized Use
You will, and you will ensure that all Permitted Users will, keep the Customer User Accounts and Cards secure and ensure access is provided only to Permitted Users. You will immediately disable Permitted User access to the Services or reduce spending limits where you know or believe your Customer User Account or any Card has been compromised, stolen, or may be misused.
You will promptly notify Float of any actual or suspected unauthorized use of the SaaS Services or Card Services, and you will follow the notification process set out in the applicable Customer Cardholder Agreement for reporting a lost, stolen, or compromised Card.
You are ultimately responsible for Losses caused by Permitted Users, or other persons given access to the Corporate Spend Programs, your Customer User Accounts, or Cards.
Float may suspend access to your Customer User Accounts or Cards if we believe they have been compromised, used for an unauthorized purpose, or that not doing so may pose a risk to you, Float, the applicable Issuer, or any third parties.
5.4 Merchant Disputes; Chargebacks
If Customer and a merchant have a dispute regarding a Charge identified on Customer’s Periodic Statement, including delivery of incorrect goods or services or being charged the wrong amount, Customer should first attempt to resolve the dispute with the merchant. If such dispute is not resolved to Customer’s satisfaction, or if Customer believes the Charge is unauthorized, Customer may initiate a Chargeback, if applicable, by contacting support@floatfinancial.com.
Chargebacks and Card transaction disputes are subject to the applicable Customer Cardholder Agreement, Card User Terms and Conditions, Card Network rules, and Float’s dispute resolution process.
5.5 PCI DSS Compliance
Float Financial Solutions Inc. (“Float”) is a PCI DSS-certified Third-Party Service Provider (“TPSP”). Float is responsible for maintaining compliance with the Payment Card Industry Data Security Standard (“PCI DSS”) and for securing any cardholder data or sensitive authentication data that it stores, processes, or transmits on behalf of its customers, or to the extent Float could impact the security of such data. Float currently relies on PCI DSS Level 1 certified third-party providers to securely handle cardholder data. Float does not currently store, process cardholder data directly, but may do so in the future in accordance with Applicable Laws, PCI DSS requirements, and Float’s applicable security and compliance obligations.
As part of your use of Float’s services, you acknowledge and agree that you are responsible for maintaining your own PCI DSS compliance, as applicable to your business and systems, and for implementing appropriate security controls when accessing or integrating with Float’s platform.
In accordance with PCI DSS Requirement 12.8.4, Float will make its current PCI DSS compliance status available upon request. In accordance with Requirement 12.8.5, responsibilities for PCI DSS compliance are allocated as follows:
(a) Float’s Responsibilities: Float is responsible for the PCI DSS controls related to the services it provides, including the protection of account data that Float stores, processes, or transmits on your behalf.
(b) Your Responsibilities: You are responsible for ensuring your systems, processes, and data practices comply with PCI DSS requirements as applicable, including where you collect, store, or transmit cardholder data independently of Float’s services.
(c) Shared Responsibilities: For services or functionalities where both Float and you play a role in securing cardholder data (such as integrations, data access, or user management), responsibility is shared. Float will maintain the security of its infrastructure and controls, while you are responsible for secure use and configuration of the Services.
If you require additional details regarding Float’s PCI DSS compliance or shared responsibility matrix, please contact compliance@floatfinancial.com.
Float will provide Customer with technical support for the SaaS Services (“Support Services”):
(a) via email at support@floatfinancial.com; and
(b) via Float’s knowledge base and documentation available online at help.floatfinancial.com.
Customer’s access to and use of certain functionalities provided in or through the Services may provide links or access to third-party content, websites, services, or systems. Float does not endorse any third-party content, websites, services, or systems, or guarantee their quality, accuracy, reliability, completeness, currency, timeliness, non-infringement, merchantability, or fitness for any purpose.
Third-party content, websites, services, or systems are not under the control of Float, and if Customer chooses to access any such content, websites, services, or systems, Customer does so entirely at its own risk.
Customer acknowledges that it may be required to accept terms and conditions applicable to third-party content, websites, services, or systems, and that such terms may supersede the terms in this Agreement with respect to the use of such third-party content, websites, services, or systems, and Customer agrees to accept and comply with any such terms and conditions.
THIS SECTION PROVIDES AUTHORIZATION TO DEBIT YOUR BANK ACCOUNTS FOR AMOUNTS YOU OWE UNDER THIS AGREEMENT, INCLUDING LINKED ACCOUNTS AND OTHER ACCOUNTS. PLEASE READ IT THOROUGHLY.
You authorize Float, and any financial institution designated by Float, to issue and process pre-authorized debits (“PADs”) and to debit and credit the bank account you have designated for such purpose (the “Designated Account”) for: (i) Fees invoiced to you on the due date set out on the applicable invoice; (ii) any other amounts that may become due and payable under this Agreement, including any overdue amounts, interest, Fees, and other charges, on the next regularly scheduled debit date; and (iii) in the event that this Agreement is terminated, all outstanding amounts will be debited on the termination date.
In the event that we are unable to debit the Designated Account for amounts described above, we may debit other Linked Accounts or Other Accounts to satisfy such amounts.
Except where required by Applicable Law, the NACHA Rules, or Rule H1 of Payments Canada, you waive your right to receive pre-notification of the amounts of the PADs or any change in the amounts of the PADs and agree that you do not require advance notice of the amounts of PADs or any change in the amounts of the PADs before the debits are processed. Such waiver of notification is not applicable to any one-time or sporadic debits for which Float is required to obtain your authorization in accordance with Rule H1 of Payments Canada.
For transactions governed under Payments Canada regulations, this is a business PAD. You must promptly notify Float, in writing, of any change to the Designated Account. You have certain recourse rights if any PAD does not comply with this authorization. For example, you have the right to receive reimbursement for any PAD that is not authorized or is not consistent with this authorization. To obtain more information on your recourse rights, you may contact your financial institution or visit www.payments.ca.
You may revoke this authorization at any time upon providing thirty (30) days’ notice in writing to Float, or as Float may advise from time to time. You may obtain a sample cancellation form or further information on your right to cancel a PAD agreement at your financial institution, by contacting Float, or by visiting www.payments.ca. This authorization applies only to the method of payment, and you agree that cancellation of this authorization does not terminate or otherwise affect any contract that exists between you and Float, including this Agreement.
For transactions governed under NACHA rules, both parties agree to be bound by NACHA Operating Rules as they pertain to these transactions. You acknowledge that the origination of ACH transactions to your account must comply with the provisions of United States law. You agree not to dispute these scheduled transactions with your bank provided the transactions correspond to the terms indicated in this authorization.
You understand that this authorization will remain in effect until it is canceled in writing, and you agree to notify Float in writing of any changes in your account information or termination of this authorization at least thirty (30) days prior to the next billing date. You acknowledge that any changes an authorized representative makes to account information via an online customer portal will be considered written notice of change and will constitute authorization to charge the new account in place of the account previously identified.
If the above-noted payment dates fall on a weekend or holiday, you understand that the payments may be executed on the next business day. You understand that because these are electronic transactions, these funds may be withdrawn from your account as soon as the above-noted transaction dates, and that you will have limited time to report and dispute errors.
In the case that a transaction is returned for non-sufficient funds ("NSF"), you understand that Float may, in its discretion, attempt to process the charge again within thirty (30) days, initiated as a separate transaction from the original authorized payment. You certify that the business bank account you provide is enabled and authorized for pre-authorized debit and/or ACH transactions, as applicable, and you agree to reimburse Float for any reasonable penalties, fees, costs, or expenses actually incurred by Float as a result of your financial institution rejecting a debit or credit because the account is not properly configured or authorized for such transactions. Float does not charge a separate NSF fee; this Section is limited to the recovery of third-party costs actually incurred.
We may, but are not obligated to, make Beta Services available to you. Any Beta Services are provided to you “AS IS” and “AS AVAILABLE,” without any warranty. We may use any Feedback about the Services or Beta Services freely and without restriction. Except where specifically agreed to by us in writing, we will not compensate or credit you for Feedback you provide to us.
10.1 Fees
Customer will pay to Float the fees disclosed to you when opening your Customer User Accounts or through our website (the “Fees”). Unless otherwise noted, all amounts owing under this Agreement are identified in Canadian dollars, and all Fees relating to the SaaS Services are payable in advance. Fees may include foreign transaction fees and other applicable charges, where disclosed and applicable to the relevant Service. Fees relating specifically to Cards are governed by the applicable Customer Cardholder Agreement and Card User Terms and Conditions.
10.2 Changes to the Fees
Float reserves the right to change the Fees and institute new charges upon providing not less than thirty (30) days’ prior notice to you.
10.3 Invoicing
Float will prepare and send to Customer, at the then-current contact information on file with Float, an invoice for any Fees that have become due and payable. Unless otherwise expressly stipulated in an invoice, Customer will pay all invoiced amounts on the first (1st) day of the month following the invoice date, but in any event within thirty (30) calendar days of the invoice date.
10.4 Disputed Invoices or Charges
If Customer believes Float has charged or invoiced Customer incorrectly, Customer must contact Float through the SaaS Services or by contacting the Support Services contact set out in Section 6 no later than forty-five (45) days after being charged by Float or receiving such invoice or Periodic Statement in which the error or problem appeared in order to request an adjustment or credit.
In the event of a dispute, Customer will pay any undisputed amounts in accordance with the payment terms herein, and the parties will discuss the disputed amounts in good faith in order to resolve the dispute.
10.5 Late Payment
Customer may not withhold or set off any amounts due under this Agreement. Float reserves the right to suspend Customer’s access to the Services until all due and undisputed amounts are paid in full. Any failure to pay the full amount owed to Float when required constitutes a breach of this Agreement.
You are responsible for all costs and expenses that Float incurs in collecting amounts owed but not paid in a timely manner, including legal and collection fees, to the extent permitted by Applicable Law and disclosed or charged in accordance with this Agreement.
If a payment you make is returned to us for any reason, you must pay applicable fees, and if the reason is insufficient funds in your Designated Account, you must immediately, and in any event within three (3) business days, deposit sufficient funds into the Designated Account to allow us to collect the overdue payment.
In addition to any other rights we may have under this Agreement or at law, late payments will incur interest at the rate of one and one-half percent (1.5%) per month, compounded monthly (19.56% annually), or the maximum legal rate permitted by Applicable Law (if less), plus all collection expenses, until fully paid.
10.6 Taxes
The Fees set out in this Agreement do not include applicable sales, use, excise, gross receipts, value-added, GST, HST, personal property, or other taxes. Customer will be responsible for and pay all applicable taxes, duties, tariffs, assessments, export and import fees, or similar charges (including interest and penalties imposed thereon) in connection with this Agreement, other than taxes based on the net income or profits of Float.
10.7 Suspension
Any permitted suspension of the Services by Float pursuant to the terms of this Agreement will not excuse Customer from its obligation to make payments under this Agreement.
11.1 Definitions
For the purposes of this Agreement, a party receiving Confidential Information (as defined below) will be the “Recipient,” the party disclosing such information will be the “Discloser,” and “Confidential Information” of the Discloser means any and all information of the Discloser or any of its licensors that has or will come into the possession or knowledge of the Recipient in connection with or as a result of entering into this Agreement, including information concerning the Discloser’s past, present, or future customers, suppliers,
technology, or business, and where the Discloser is Customer, includes Customer Data; provided that Discloser’s Confidential Information does not include, except with respect to Personal Information: (i) information already known or independently developed by Recipient without access to Discloser’s Confidential Information; (ii) information that is publicly available through no wrongful act of Recipient; or (iii) information received by Recipient from a third party who was free to disclose it without confidentiality obligations.
11.2 Confidentiality Covenants
Recipient hereby agrees that during the Term and at all times thereafter it will not, except to exercise its rights or perform its obligations under this Agreement: (i) disclose Confidential Information of the Discloser to any person, except to its own personnel or affiliates that have a “need to know” and that have entered into written agreements no less protective of such Confidential Information than this Agreement, and to such other recipients as the Discloser may approve in writing; (ii) use Confidential Information of the Discloser for any purpose other than as permitted under this Agreement; or (iii) alter or remove from any Confidential Information of the Discloser any proprietary legend.
Each party will take industry-standard precautions to safeguard the other party’s Confidential Information, which will in any event be at least as stringent as the precautions that the Recipient takes to protect its own Confidential Information of a similar type.
11.3 Exceptions to Confidentiality
Notwithstanding Section 11.2, Recipient may disclose Discloser’s Confidential Information: (i) to the extent that such disclosure is required by Applicable Law or by order of a court or similar judicial or administrative body, provided that, except to the extent prohibited by law, the Recipient promptly notifies the Discloser in writing of such required disclosure and cooperates with the Discloser to seek an appropriate protective order; (ii) to its legal counsel and other professional advisors if and to the extent such persons need to know such Confidential Information in order to provide applicable professional advisory services in connection with the party’s business; or (iii) in the case of Float, to potential assignees, acquirers, or successors of Float if and to the extent such persons need to know such Confidential Information in connection with a potential sale, merger, amalgamation, or other corporate transaction involving the business or assets of Float.
11.4 Publicity
Float may identify Customer as a customer on the Website or in other promotional communications during the Term of this Agreement, and Customer grants Float the right to use Customer’s trademarks and business name for such limited purpose. If Customer prefers not to be identified as a Float customer, Customer may notify Float, and Float will remove references to Customer on the Website and in promotional communications.
12.1 Customer Warranty
Customer represents and warrants to, and covenants with, Float that:
(a) the Customer Data will contain Personal Information only in respect of which Customer has provided all notices and disclosures (including to each Permitted User), obtained all applicable third-party consents and permissions, and otherwise has all authority, in each case as required by Applicable Laws, to enable Float to provide the Services, including with respect to the collection, storage, access, use, disclosure, processing, and transmission of Personal Information, including by or to Float and to or from all applicable third parties;
(b) all Customer Data provided to Float is, at all times, true, complete, and up to date;
(c) Customer is, and will continuously throughout the Term of this Agreement be, duly organized and in good standing under the laws of its jurisdiction of formation;
(d) each Permitted User has the requisite organizational power and authority to conduct business and manage the Customer User Account;
(e) Customer is not a consumer within the meaning of applicable consumer protection laws and is accessing the Services solely for business purposes;
(f) Customer and each Permitted User will not engage in activities prohibited by this Agreement, the Customer Cardholder Agreement, or the Card User Terms and Conditions, as applicable.
12.2 General Disclaimer
EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, FLOAT DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE OR THAT ALL ERRORS CAN OR WILL BE CORRECTED; NOR DOES FLOAT MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SERVICES.
EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THE SERVICES (OR ANY PART THEREOF), AND ANY OTHER PRODUCTS AND SERVICES PROVIDED BY FLOAT TO CUSTOMER, ARE PROVIDED “AS IS” AND “AS AVAILABLE,” AND FLOAT DISCLAIMS ANY REPRESENTATION, CONDITION, OR WARRANTY THAT ANY DATA OR INFORMATION PROVIDED TO CUSTOMER IN CONNECTION WITH CUSTOMER’S USE OF THE SERVICES IS ACCURATE OR CAN OR SHOULD BE RELIED UPON BY CUSTOMER FOR ANY PURPOSE WHATSOEVER.
ANY REPRESENTATION OR WARRANTY OF OR CONCERNING ANY LICENSED THIRD-PARTY TECHNOLOGY IS STRICTLY BETWEEN CUSTOMER AND THE THIRD PARTY.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, FLOAT HEREBY DISCLAIMS ALL IMPLIED, COLLATERAL, OR STATUTORY WARRANTIES, REPRESENTATIONS, AND CONDITIONS, WHETHER WRITTEN OR ORAL, INCLUDING ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, MERCHANTABLE QUALITY, COMPATIBILITY, TITLE, SECURITY, RELIABILITY, COMPLETENESS, QUIET ENJOYMENT, ACCURACY, QUALITY, INTEGRATION, OR FITNESS FOR A PARTICULAR PURPOSE OR USE, OR ANY WARRANTIES OR CONDITIONS ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE.
13.1 Float Indemnity
Float will indemnify, defend, and hold harmless Customer and its officers, directors, employees, and agents (each, a “Customer Indemnitee”) from and against any and all Losses incurred by a Customer Indemnitee arising out of or relating to any claim, action, demand, inquiry, audit, proceeding, or investigation of any nature, whether civil, criminal, administrative, regulatory, or otherwise (each, an “Action”) by a third party (other than an affiliate of a Customer Indemnitee) that arises from or relates to any allegation that the SaaS Services infringe any third-party Intellectual Property Right in Canada or the United States.
Float’s obligations under this Section do not apply to any Action or Losses arising out of or relating to:
(a) incorporation of any SaaS Services into, or any combination, operation, or use of any SaaS Services with, any products or services not provided or authorized by Float, unless such infringement would also have resulted solely from the use of the SaaS Services without such combination;
(b) Modification of any SaaS Services other than by Float or with Float’s express written approval; or
(c) unauthorized use of the SaaS Services.
If the SaaS Services are, or in Float’s opinion are likely to be, claimed to infringe, misappropriate, or otherwise violate any third-party Intellectual Property Right, or if Customer’s use of the SaaS Services is enjoined or threatened to be enjoined, Float may, at its option and sole cost and expense:
(i) obtain the right for Customer to continue to use the affected SaaS Services materially as contemplated by this Agreement;
(ii) Modify or replace the SaaS Services to make them non-infringing while providing materially equivalent features and functionality; or
(iii) if neither of the foregoing options is reasonably available, terminate this Agreement and require Customer to cease use of the affected SaaS Services.
13.2 Customer Indemnity
Customer will defend, indemnify, and hold harmless Float and its officers, directors, employees, and agents (each, a “Float Indemnitee”) from and against any and all Losses incurred by a Float Indemnitee arising out of or relating to any Action by a third party that arises from or relates to:
(a) Customer Data;
(b) Customer’s breach of Section 1.6 or Section 12.1;
(c) unauthorized use of the Services by Customer or any Permitted User; (d) a dispute over a Charge between Customer and a merchant; or
(e) Customer’s or a Permitted User’s breach of this Agreement, the Customer Cardholder Agreement, or the Card User Terms and Conditions.
(f) any Fines, Fees or Charges arising out of or relating to the acts or omissions of Customer or any Permitted User, or Customer’s or any Permitted User’s use of the Cards, the Services, or a Corporate Spend Program.
13.3 Indemnification Procedure
Each party will promptly notify the other in writing of any Action for which it believes it is entitled to indemnification; provided that any failure or delay in providing such notice will not relieve the Indemnitor of its obligations except to the extent the Indemnitor is materially prejudiced by such failure or delay. The Indemnitor will control the defense and investigation of such Action and will employ counsel of its choice. The Indemnitee will reasonably cooperate with the Indemnitor in the defense of such Action and will not admit liability or enter into any settlement without the Indemnitor’s prior written consent. The Indemnitee may participate in the proceedings at its own expense.
14.1 Amount
EXCEPT AS OTHERWISE PROVIDED IN SECTION 14.3 (EXCEPTIONS), TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, IN NO EVENT WILL THE TOTAL AGGREGATE LIABILITY OF EITHER PARTY IN CONNECTION WITH OR UNDER THIS AGREEMENT, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE OR GROSS NEGLIGENCE), OR OTHERWISE, EXCEED THE AMOUNT OF FEES PAID BY CUSTOMER FOR THE SERVICES IN THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM. FOR GREATER CERTAINTY, THE EXISTENCE OF ONE OR MORE CLAIMS UNDER THIS AGREEMENT WILL NOT INCREASE THIS MAXIMUM LIABILITY AMOUNT.
14.2 Type
EXCEPT AS OTHERWISE PROVIDED IN SECTION 14.3 (EXCEPTIONS), TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY:
(a) SPECIAL, EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES;
(b) LOSS OF SAVINGS, PROFIT, DATA, USE, OR GOODWILL;
(c) BUSINESS INTERRUPTION;
(d) COSTS FOR THE PROCUREMENT OF SUBSTITUTE PRODUCTS OR SERVICES; (e) PERSONAL INJURYOR DEATHARISING OUT OF OR IN ANY WAY CONNECTED TO THE SERVICES OR THIS AGREEMENT,
(f) PERSONAL OR PROPERTY DAMAGE ARISING OUT OF OR IN ANY WAY CONNECTED TO THE SERVICES OR THIS AGREEMENT,
REGARDLESS OF THE CAUSE OF ACTION OR THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
14.3 Exceptions
The exclusions and limitations in Sections 14.1 and 14.2 do not apply to: (a) either party’s obligations under Section 11 (Confidential Information);
(b) Losses arising out of or relating to Customer’s breach of Section 1.6 (Restrictions on Use) or Section 10 (Fees and Payment); or
(c) Losses arising out of or relating to a party’s gross negligence or more culpable conduct, including willful misconduct or intentionally wrongful acts; or
(d) Losses arising out of or relating to Customer’s indemnification obligations under Section 13.2(f) (Fines).
15.1 Term
This Agreement will continue to be in effect until it is terminated in accordance with its terms (the “Term”).
15.2 Termination for Convenience
Either party may terminate this Agreement at any time by providing at least thirty (30) days’ advance written notice to the other party, unless otherwise stipulated by the agreement governing an applicable Service or Corporate Spend Program.
15.3 Termination for Cause
Either party may terminate this Agreement by providing written notice upon the occurrence of any of the following events:
(a) the other party materially breaches this Agreement and fails to cure the breach within thirty (30) days after written notice or, in the case of Customer's payment obligations under Section 10, within ten (10) days after written notice; provided that if the breach is not reasonably capable of being cured including any breach of the confidentiality obligations, a data incident caused by the breaching party, any use of the Services in violation of Applicable Law, or any infringement or misappropriation of the other party's intellectual property - termination is effective immediately on written notice; or
(b) the other party makes an assignment for the benefit of creditors or is unable to pay its debts as they mature in the ordinary course of business; or
(c) proceedings are instituted by or against the other party under any insolvency laws or for reorganization, receivership, or dissolution.
In addition, Float may terminate this Agreement immediately for cause if Customer cancels its PAD authorization without providing a replacement authorization, if any debit through Customer’s PAD fails, if Customer disputes any debit properly made through its PAD authorization, or if Customer fails to maintain a Linked Account.
15.4 Effect of Termination; Transition
Upon termination of this Agreement, Customer will immediately cease accessing or using the Services and will immediately pay all outstanding amounts, including any outstanding Charges, Fees, or Fines as of the termination date.
Within thirty (30) calendar days following termination of this Agreement, Float will, at Customer’s option, return to Customer or delete or otherwise render inaccessible any Customer Data that remains in the hardware or systems used by Float to provide the SaaS Services, subject to Applicable Law and Float’s lawful retention obligations.
15.5 Survival
The following Sections, together with any other provision that by its nature survives termination or expiration, will survive termination or expiration of this Agreement: Section 3, Section 8, Section 10, Section 11, Section 12, Section 13, Section 14, Section 15.5, and Section 16.
16.1 Trust Covenant and Intent
This Agreement governs the relationship between Float and each Customer and describes Float’s covenant to hold Customer funds received in connection with the Services (“Customer Funds”) in trust for the benefit of the applicable Customer (the “Beneficiary”).
The parties expressly acknowledge and agree that:
(a) Customer Funds transferred or paid to Float by or on behalf of Customer are intended to be
held in trust by Float in one or more designated trust accounts (the “Float Trust”);
(b) Float holds such Customer Funds in trust for the benefit of the applicable Customer as Beneficiary; and
(c) such Client Funds are segregated from Float’s own operating funds and are not the property of Float, except as expressly permitted under this Agreement.
The parties further acknowledge and agree that it is their express intention to create a trust relationship with respect to Client Funds, and that Client Funds transferred to Float shall be held in the Float Trust in trust for such Customer’s benefit, subject to the terms of this Agreement and Applicable Laws.
16.2 Notices
Notices sent to either party will be effective when delivered in writing and in person or by email, one (1) day after being sent by overnight courier, or five (5) days after being sent by first-class mail, postage prepaid, to the official contact designated by the party to whom notice is given.
Notices must be sent:
If to Float:
Float Financial Solutions Inc.
Attention: Legal Department
Email: legal@floatfinancial.com
Registered mail to: 1000-119 Spadina Ave, Toronto, ON M5V 2L1, Canada
If to Customer: to the current postal or email address that Float has on file for Customer.
Float may change its contact information by posting new information on the Website or by giving notice to Customer. Customer is solely responsible for keeping its contact information current.
16.3 Assignment
Float may, upon written notice to Customer, assign its rights and obligations under this Agreement to an affiliate or in connection with a merger, amalgamation, corporate reorganization, or sale of substantially all assets related to the Services. Except as permitted above, neither party may assign this Agreement without prior written consent of the other party.
16.4 Governing Law and Attornment
For Float Financial Solutions Inc., a federal Canadian corporation:
Governing Law: Province of Ontario and the federal laws of Canada applicable therein.
Jurisdiction and Venue: The parties will initiate any lawsuits in connection with this Agreement in Toronto, Ontario, Canada, and irrevocably attorn to the exclusive jurisdiction and venue of the courts sitting therein.
For Float Financial Solutions US Inc., a U.S. corporation:
Governing Law: State of Delaware and the federal laws of the United States applicable therein.
Jurisdiction and Venue: The parties will initiate any lawsuits in connection with this Agreement in Delaware, United States of America.
16.5 Export Restrictions
Customer agrees not to directly or indirectly export or re-export any of the Services without obtaining all required licenses, permits, and permissions under Applicable Law.
16.6 Construction
Except as otherwise provided, the parties’ rights and remedies are cumulative and not exclusive. The terms “include” and “including” mean without limitation. Section headings are for reference only and have no substantive effect.
16.7 Force Majeure
Neither party will be liable for delays caused by events beyond reasonable control, including acts of God, pandemics, government acts, regulatory actions or orders, floods, fires, earthquakes, civil unrest, terrorism, cyberattacks, cybersecurity incidents, strikes (other than those involving that party’s employees), Internet failures, or third-party infrastructure changes.
16.8 Severability
If any provision is held invalid or unenforceable, it will be severed, and the remaining provisions will remain in full force and effect.
16.9 Waiver
A waiver must be in writing and does not waive future enforcement.
16.10 Independent Contractors
The parties are independent contractors. Nothing creates an agency, partnership, or joint venture.
16.11 Funds Held in Trust
Float maintains Customer funds in designated trust accounts at qualified financial institutions, separate from Float’s corporate funds, in accordance with the Retail Payment Activities Act (Canada).
16.12 Deposit Insurance
Float is not a bank or a member of the Canada Deposit Insurance Corporation. Customer funds may be eligible for deposit insurance through Float’s partner financial institutions, subject to applicable limits and conditions.
16.13 Entire Agreement
This Agreement constitutes the entire agreement between the parties regarding the Services and supersedes all prior agreements, except that separate agreements governing specific Services or Corporate Spend Programs remain in effect and will prevail in the event of conflict with respect to the applicable Service or Corporate Spend Program.
16.14 English Language
Documents for customers in Quebec are defaulted to French. If the customer selects English or requests communications in English, documents and Agreements will be provided in English at the express wish of the parties.
“Applicable Laws” means all applicable federal, provincial, state, territorial, local, and foreign statutes, regulations, rules, orders, regulatory guidance, regulatory expectations, and governmental requirements, including those relating to payments, anti-money laundering, sanctions, consumer protection (to the extent applicable to businesses), privacy, and data protection.
“Beta Services” means pre-release, beta, pilot, or early-access products, features, or services that may be incomplete, subject to change, or discontinued at any time.
“Cards” means physical or virtual payment cards issued by the applicable Issuer and made available through the Services.
“Card Networks” means Visa, Mastercard, or any other payment card network through which Cards are issued.
“Card User Terms and Conditions” means the agreement between a Permitted User and the Issuer governing the Permitted User’s access to and use of a Card
“Charge” means any transaction, purchase, authorization, advance, fee, interest, adjustment, reversal, refund, chargeback, or other amount incurred, authorized, processed, or posted to a Card or Customer User Account, including where applicable, any amount that constitutes an extension of credit by Float to Customer and creates a repayment obligation under this Agreement or applicable product-specific terms.
“Corporate Spend Program” means a card, spend management, payment, reimbursement, credit, charge, prepaid, or other corporate spend product or program made available by Float or an applicable Issuer through the Services.
“Customer” means the legal entity that has opened one or more Customer User Accounts and has agreed to this Agreement.
“Customer Cardholder Agreement” means the agreement governing Customer’s access to and use of Cards through Float.
“Customer Data” means any data, information, records, content, or materials provided, submitted, transmitted, or otherwise made available by Customer or its Permitted Users through the Services, including Financial Data and Personal Information.
“Designated Account” means the bank account designated by Customer for the processing of pre-authorized debits under Section 8 (PAD Authorization).
“Financial Data” means bank balances, transaction histories, account details, internal accounting records, credit information, or other financial information accessible to Float through Linked Accounts, Other Accounts, Third Party Services, or the application or underwriting process.
“Fines” means any fines, penalties, assessments, levies, charges, or similar amounts imposed on, charged to, or otherwise passed through to Float by (a) an Issuer, (b) a Card Network (including Visa), or (c) a Governmental or Regulatory Authority, in each case arising out of or relating to the Services, the Cards, a Corporate Spend Program, or this Agreement, including any such amounts attributable to the acts or omissions of Customer or any Permitted User.
“Float,” “we,” “us,” or “our” means Float Financial Solutions Inc. or Float Financial Solutions US Inc., as applicable based on the Customer’s jurisdiction and the Services provided.
“Float Business Accounts” means commercial accounts made available through the Services that enable Customers to receive, hold, and transfer funds using supported payment methods.
“Governmental or Regulatory Authority” means any domestic or foreign government, regulatory, supervisory, or self-regulatory authority, central bank, agency, commission, or other body having jurisdiction over Float, the Services, the Cards, a Corporate Spend Program, or the subject matter of this Agreement.
“Intellectual Property Rights” means all registered and unregistered rights granted, applied for, or otherwise existing under or related to patent, copyright, trademark, trade secret, database protection, or other intellectual property laws anywhere in the world.
“Issuer” means Float Financial Solutions Inc. in Canada, or Thread Bank in the United States, as applicable.
“Linked Account” means a bank account or other financial account that is connected to or authorized for use through a Customer User Account for funding, settlement, underwriting, verification, or payment purposes.
“Losses” means any and all losses, damages, claims, penalties, fines, costs, expenses, liabilities, settlements, and reasonable legal fees.
“Modifications” means updates, upgrades, enhancements, improvements, patches, bug fixes, customizations, derivative works, translations, adaptations, or other changes to the Services.
“Other Accounts” means financial accounts for which Financial Data has been disclosed to Float in connection with underwriting, risk assessment, or credit determination but that are not designated as Linked Accounts.
“Permitted User” means an employee, contractor, or other individual authorized by Customer to access and use the Services.
“Personal Information” means information about an identifiable individual or information that is subject to applicable privacy or data protection laws.
“Privacy Policy” means Float’s privacy policy, as made available on the Website and updated from time to time, which governs Float’s collection, use, disclosure, and other handling of Personal Information.
“Professional Services” means consulting, training, implementation, or other professional services provided by Float in connection with the Services.
“Services” means the SaaS Services, Float Business Accounts, Yield features, Professional Services, Cards-related functionality, and any other features or services made available under this Agreement.
“SaaS Services” means Float’s hosted employee spend management platform and related software functionality made available on a subscription basis.
“Third Party Service Provider” means an affiliate, financial institution, processor, network, or other third party that assists Float in providing the Services.
“Website” means any website or online portal operated by or on behalf of Float through which the Services are made available.
“Yield” means any variable return, interest, or earnings feature that Float may make available in connection with eligible balances held in Float Business Accounts.
Last Updated: September 2025
Float Financial Solutions Inc. and its subsidiary Float Financial Solutions US Inc. (“Float Financial”) have prepared this privacy policy to explain the manner in which we collect, use and disclose personal information, including personal information that we collect through floatfinancial.com (the “Website”) and information we process on behalf of our customers in connection with the use of our services.
Express Consent
By visiting our Website, clicking “I Consent” in the onboarding flow, or otherwise using our services, you expressly consent to our collection, use and disclosure of your personal information as described in this privacy policy. This information may include tax identification information (such as a Social Insurance Number, Business Number and Tax Identification Number).
If you do not consent to this privacy policy, please do not use the Website or use any of our services, including a Float Financial Card (as defined below). As noted below, this policy is subject to change from time to time and we recommend that you review the privacy policy each time you visit our Website or use our services to stay informed of our privacy practices.
Children Under the Age of 14
Float Financial services are made available to users that are at least the age of majority in their province of residence. Our Website is not intended for children under 14 years of age. No one under age 14 may provide any information to the Website or receive our services.
We do not knowingly collect personal information from children under 14. If you are under 14, do not use or provide any information on this Website. If we learn we have collected or received personal information from a child under 14, we will delete that information.
If you believe we might have any information from or about a child under 14, please contact us at the information provided in the Contact Us section of this privacy policy.
As a User, you may withdraw your consent to the collection, use, or disclosure of your personal information at any time by contacting privacy@floatfinancial.com, subject to legal or contractual obligations and reasonable notice.
Please note that not all withdrawals of consent will impact your ability to access Float Financial products. For example, withdrawing consent to receive marketing or promotional communications will not affect your access to our services. However, if you withdraw consent for uses of your information that are necessary to deliver certain features or services, your Primary
Administrator will be notified, and your access to some or all Float Financial products may be limited or terminated.
Collection and Use of Personal Information
We collect only the personal information necessary to provide our services and comply with applicable legal requirements. In the course of providing our services, Float Financial collects the following types of personal information:
● Transaction Data: Information related to transactions conducted on our platform, including payment amounts, dates, merchant details, and payment methods.
● Payment Information: Card details, payment account information, and other payment-related data necessary for processing payments and bill payments.
● Identity Verification Information: Personal details required for identity verification, including names, addresses, dates of birth. We also collect information confirming your identity has been verified for fraud prevention purposes through our partner Persona (see “Biometric Information and Identity Verification” below for more information).
● Contact Information: Name, email addresses, phone numbers, and mailing addresses for customer communication and account management.
● Information We Collect and Use on Behalf of Our Customers: Float Financial provides an online spend management platform through which our customers can load funds and set limits onto Float Financial prepaid payment cards (“Float Financial Cards”), set rules and budgets for expenditures made using those Float Financial Cards, and track spending by individual employees and manage and track business spending. In the course of providing these services, we receive and process personal information to provide the services to our customers as described below.
● Information Required to Provide the Platform: Float Financial acts as the data controller in respect of the personal information it collects and processes to provide and manage the Float Financial platform. To deliver our services, we collect, use, and disclose personal information of individuals associated with our customers, such as employees to whom Float Financial Cards have been issued. This includes business contact details (e.g., name, job title, company email address) and transaction-related data (e.g., transaction type, amount, and frequency). We use this information to operate and improve our spend management platform, including processing and approving transactions, generating reporting and insights for our customers, and ensuring compliance with applicable laws. Personal information collected or derived from an employee may be shared with the customer that issued the Float Financial Card. We do not use this information for unrelated purposes, except as required or permitted by law.
● Transaction Data & Payment Information: We may collect certain information from Float Financial Card users, such as payment amounts, Float Financial Card number, transactions, and purchase details, amounts, and locations, as well as receipt data, which includes information that you submit to us to process your receipts, such as photos and support team messages. We use this information to operate and manage our service and the Float Financial Cards, including preventing and detecting fraudulent or unauthorized transactions. We may also use this information to understand how our customers use the service and Float Financial Cards and to improve them.
● Support Services: We may collect certain information (such as name, email address, and nature of the inquiry) when we provide user support services by phone, email, or within the platform, including to send you technical notices, updates, security alerts, information regarding changes to our policies, and support administrative messages.
● Use of the Platform: We may monitor use of the platform by our customers’ employees or other authorized users in order to detect, investigate, or prevent any actual or potential violation of our terms and conditions. We may also generate aggregated, non-identifiable data and use such information to monitor the performance, use, and stability of the platform and to improve our services.
Information We Collect and Use Through Our Website, Platform, and Other Interactions
● Account Information: We collect and use customer information in order to create an account that can be used to access and use the platform. This information includes customer name, billing address, and other business contact information (email addresses, phone numbers), as well as a username and password that you create.
● Company Data: With your consent, when you sign up for Float Financial Cards, we collect details about your company and its ownership, such as business owner name, email address, date of birth, and home address, in order to comply with our legal and regulatory obligations under applicable Anti-Money Laundering legislation. When you connect your bank account via our third-party partners, we collect information such as your balance, routing and account numbers, transaction history, and tax identification number. When you connect your company’s accounting software to the platform, we collect details about your financial data. We use this information to operate and manage the Float Financial Cards, including determining eligibility for the Float Financial Cards, providing underwriting services, and otherwise providing services requested by you. We may also use this information to improve our Float Financial Cards and services.
● Employee Information: With your employees’ consent, we may collect details about
your employees, such as name, work email address, location, and mailing address for physical card delivery, in addition to transaction-related information from purchases made by employees of your company. Employee information may be stored outside the jurisdiction in which the employee resides, including Quebec.
● Booking a Demo: If you request a free consultation or demo, we may collect your name, job title, and business contact information (including company email and phone number), and certain information about your company. We use this information to contact you and otherwise facilitate or provide you with your consultation or demo.
● Marketing Communications: We may send you communications (including by mail and email). We collect your email address as well as other information to help us tailor communications to you regarding our platform and other products and services that we believe are of interest to you.
Sharing of Personal Information
We share your personal information to third parties with your consent as set forth below or as required or permitted by law.
● Service Providers: Personal information will be transferred (or otherwise made available) to certain third parties that provide services on our behalf. We use service providers to provide services such as hosting the Website and our platforms, and providing payment processing, authenticating users, advertising, and marketing services. Personal information that we process on behalf of customers in the course of providing the platform services will also be transferred (or otherwise made available) to third parties that provide services on our behalf. We use service providers to provide services such as issuing Float Financial Cards, loading funds and processing payments, integrating with and withdrawing funds from company bank accounts, scanning and managing receipts, hosting the Website, authenticating users, and providing advertising and marketing services. Our service providers are only provided with the information they need to perform their designated functions and are not authorized to use or disclose personal information for their own marketing or other purposes. Our service providers may be located in the U.S., Canada, or other foreign jurisdictions, including North America and Europe, and information may be retained outside the Province of Québec. We may engage service providers to assist with processing various types of data, including personal, transaction, and biometric information. These service providers help us provide our services, including identity verification, fraud prevention, payment processing, transaction monitoring, expense management, and meeting security and regulatory requirements. For more details on these service providers and their locations or to request further information about the data they process, please contact us at privacy@floatfinancial.com.
● Third-Party Applications: Customers may choose to export their transaction data or other personal information to third-party applications with whom the customer has a relationship, including tax management and filing services. Float Financial will share personal information with such third parties as instructed by the customer.
● Legal and Compliance: We and our Canadian, U.S. and other foreign service providers may provide personal information in response to a search warrant to other legally valid inquiry or order, or to another organization for the purposes of investigating a breach of an agreement or contravention of law or detecting, suppressing or preventing fraud, or
as otherwise may be required or permitted by applicable Canadian, U.S. or other law or legal process, which may include lawful access by U.S. or foreign courts, law enforcement or other government authorities. Your personal information may also be disclosed where necessary for the establishment, exercise or defence of legal claims and to investigate or prevent actual or suspected loss or harm to persons or property.
● Sale of Business: We may transfer any information we have about you as an asset in connection with a proposed or completed merger, acquisition or sale (including transfers made as part of insolvency or bankruptcy proceedings) involving all or part of Float Financial Solutions Inc. or as part of a corporate reorganization or other change in corporate control.
● Subsidiaries and Affiliates: We may disclose personal information that we collect or you provided as described in this privacy policy to our subsidiaries and affiliates.
Information Collected Through Automatic Data Collection Technologies
As you navigate through and interact with our Website, we may use automatic data collection technologies to collect certain information about your equipment, browsing actions, and patterns, as described in this section.
We also may use these technologies to collect information about your online activities over time and across third-party websites or other online services (behavioral tracking). For information about how you can opt out of behavioural tracking from many providers, see Choices About How We Use and Disclose Your Information.
The Website does not respond to do not track signals.
● Visiting our Website: We collect the IP (Internet protocol) addresses of all visitors to our Website, along with other related information such as page requests, browser type,
operating system, device ID, and VPN usage. This information is gathered through third-party tools for purposes such as fraud prevention and regulatory compliance. For more details, you may refer to Fingerprint’s privacy policy.
● Cookies: Our Website uses a technology called “cookies.” A cookie is a tiny element of data that our Website sends to a user’s browser, which may then be stored on the user’s hard drive so that we can recognize the user’s computer or device when they return, which may then be stored on your device to help us recognize your computer or device. We use essential cookies necessary for the operation of the Website, which are enabled by default. For non-essential cookies (such as those used to track user behaviour or profile users), these are disabled by default and will only be set if you provide your explicit consent through the cookie banner that appears when you first visit our Website. You may also set your browser to notify you when you receive a cookie or to refuse certain cookies. However, please note that if you choose not to accept cookies from our Website, some features may not function properly.
● Web Beacons: Pages of our Website and our emails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags, and single-pixel gifs) that permit us, for example, to count users who have visited those pages or opened an email and for other related website statistics (for example, recording the popularity of certain website content and verifying system and server integrity).
● Analytics: We may also use a third party such as Google Analytics to help us gather and analyze information about the areas visited on the Website (such as the pages most read, time spent, search terms and other engagement data) in order to evaluate and
improve the user experience and the Website. For more information or to opt-out using the Google Analytics opt-out browser add-on, see “How Google uses data when you use our partners’ sites or apps” and “Google Analytics and Privacy.”
● Third-Party Links: Our Website may contain links to other websites that Float Financial does not own or operate. We provide links to third party websites as a convenience to the user. These links are not intended as an endorsement of or referral to the linked websites. The linked websites have separate and independent privacy policies, notices and terms of
use. We do not have any control over such websites, and therefore we have no responsibility or liability for the manner in which the organizations that operate such linked websites may collect, use or disclose, secure and otherwise treat personal information. We encourage you to read the privacy policy of every website you visit.
● Third Party Use of Cookies: Some content or applications, on the Website are served by third-parties, including advertisers, ad networks and servers, content providers, and application providers. These third parties may use cookies alone or in conjunction with
web beacons or other tracking technologies to collect information about you when you use our website. The information they collect may be associated with your personal information or they may collect information, including personal information, about your
online activities over time and across different websites and other online services. They may use this information to provide you with interest-based (behavioral) advertising or other targeted content. We do not control these third parties’ tracking technologies or how they may be used. If you have any questions about an advertisement or other targeted content, you should contact the responsible provider directly. For information about how you can opt out of receiving targeted advertising from many providers, see Choices About How We Use and Disclose Your Information.
Biometric Information and Identity Verification
To verify your identity and protect against fraud, we use Persona Identities, Inc. (“Persona”), a third-party service provider. When you engage in identity verification with us, Persona may collect and process your personal information—including sensitive biometric data such as facial geometry—on our behalf.
We rely on your express consent, which you may withdraw at any time, for the collection and processing of biometric information. Through Persona, Float Financial also offers an alternative verification method that does not involve biometric data. Additionally, if you prefer not to use Persona, you may complete identity verification by contacting us directly at kyc@floatfinancial.com.
Float Financial obtains Persona’s assurance that your identity has been verified as part of our fraud prevention process. Float Financial does not collect or store any identifiers from Persona, including biometric data or other personal details used for verification. Any transaction-related information required for payment processing is directly transmitted from Persona to our banking partners and is not stored by Float Financial.
Your biometric data will be handled in accordance with Persona’s Privacy Policy. It will typically be retained only as long as necessary to meet legal obligations or verification needs, up to a maximum of 3 years after the end of your relationship with us, unless a longer period is required by law. You may request deletion earlier where applicable, subject to legal and contractual limitations. After the retention period, biometric data is securely destroyed or anonymized.
Your biometric information may be transferred to and processed in countries outside of Canada, including the United States and Germany, and could be subject to the laws of those countries. This means that your personal data may be accessed by government authorities under lawful orders in those jurisdictions.
We ensure compliance with applicable Canadian privacy laws by requiring our service providers to implement contractual, technical, and organizational safeguards that provide a level of protection comparable to Canadian privacy laws. These safeguards include encryption, secure transfer methods, and strong access controls.
We require Persona to retain personal data only as long as necessary to fulfill the purposes of identity verification, fraud prevention, and to comply with the applicable legal obligations related to our product offerings and partner bank requirements. After this period, personal data is securely deleted or anonymized in accordance with applicable laws.
For more details on Persona’s data security practices, please visit [link] or contact privacy@floatfinancial.com.
SMS Marketing and Use of Braze for Messaging
All above exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties. Float Financial uses Braze, a trusted third-party customer engagement platform, to send SMS marketing messages, product updates, and personalized communications.
We share only the minimum personal information needed—such as your name, email, and phone number—to deliver these services.
Braze acts solely as a data processor on our behalf and processes your information strictly according to our instructions. Braze complies with applicable Canadian privacy laws, including PIPEDA and Québec’s Law 25, and employs robust security measures such as encryption, access controls, and regular audits to protect your data.
Because Braze may store or process data outside Canada, including in countries without equivalent privacy laws, Float Financial and Braze have contractually implemented safeguards, including Standard Contractual Clauses, to ensure your information remains protected under Canadian privacy laws.
Your Privacy Rights:
You have the right to access, correct, or delete your personal data, and to withdraw consent for marketing communications at any time. Float Financial securely records your consent choices and promptly enforces your preferences to prevent unwanted messages.
Data Retention:
Float Financial controls the retention of your data in Braze. Inactive or dormant user profiles are archived or deleted regularly in line with best practices. Aggregate data used for analytics is anonymized after approximately two years. Deletion requests are processed promptly but may take up to three weeks for full removal from Braze systems. Float Financial retains your personal data for up to five years in accordance with applicable legal and business requirements.
For questions, or to exercise your privacy rights, contact us at privacy@floatfinancial.com. For more information about Braze’s privacy practices, please visit Braze’s Privacy Page – “Braze as a Processor.”
Safeguards and Retention
Safeguarding your personal information is very important to us. We have implemented reasonable administrative, technical and physical measures in an effort to safeguard the personal information in our custody and control against theft, loss and unauthorized access, use, modification and disclosure.
We restrict access to personal information on a need-to-know basis to employees and authorized service providers who require access to fulfill their job requirements. While we make our best efforts to protect this information, data breaches, though unlikely, may still occur.
We have record retention processes designed to retain personal information for no longer than necessary for the purposes set out herein or as otherwise required to meet legal or business requirements. Our record retention processes include destroying information once retention is no longer required or prescribed by law by deleting it from the cloud or destroying physical information.
This retention process does not apply to personal information that has been aggregated or anonymized in accordance with applicable laws such that it does not identify you personally.
Choices About How We Use and Disclose Your Information
We strive to provide you with choices regarding the personal information you provide to us. We have created mechanisms to provide you with the following control over your information:
● Tracking Technologies and Advertising: You can set your browser to refuse all or some cookies, or to alert you when cookies are being sent. For managing Flash cookies specifically, please visit the Flash Player settings page on Adobe’s website. Please note that disabling or refusing cookies—especially essential cookies—may cause some parts of our Website to be inaccessible or not function properly. Non-essential tracking cookies will only be activated if you explicitly consent to them via our cookie banner.
● Promotional Offers from the Company: If you do not wish to have your contact information used by us to promote our own or third parties’ products or services, you can unsubscribe at any time by clicking the “unsubscribe” link included at the bottom of each email or by contacting us at the contact information provided in the Contact Us section below. Please note that you may continue to receive transactional or account-related communications from us after you unsubscribe.
We do not control third parties’ collection or use of your information to serve interest-based advertising. However, these third parties may provide you with ways to choose not to have your information collected or used in this way. You can opt out of receiving targeted ads from
members of the Network Advertising Initiative (“NAI”) on the NAI’s website.
Access to Information
If we receive a request from an individual to access, correct or update personal information we maintain on behalf of a customer, we will direct that individual to the relevant customer. We will assist our customers wherever possible in responding to individual access requests.
Subject to applicable law, you may have the right to access, update and correct inaccuracies in your personal information in our custody or control. You may request access, updating and corrections of inaccuracies in your personal information in our custody or control by emailing or writing to us at the contact information set out below.
We may request certain personal information for the purpose of verifying the identity of the individual seeking access to his or her personal information records.
Updates to This Privacy Policy
We may update this privacy policy periodically to reflect changes to our privacy practices. We encourage you to periodically review this page to ensure you are familiar with those changes.
We will indicate at the top of this privacy policy when it was most recently updated. Contact Us
If you have any questions or comments about this privacy policy or the manner in which we or our service providers treat your personal information, or to request access to our collection of your personal information, please contact us at:
Privacy Officer / Senior Director Risk & Compliance
+1 (833) 944-3175
The following terms and conditions of this Agreement apply to the Float Visa Card (“Card”).
By activating or using any Card, or providing a Card to a Business Administrator or Card User, you are agreeing to these terms and conditions in respect of each Card. Cards are issued to you, Business Cardholder, and may be administered by Business Administrators and used by Card Users to initiate transactions on your Card.
INFORMATION DISCLOSURE SUMMARY (detailed terms and conditions will follow):
Card Issuer: Cards are issued by Float Financial Solutions Inc. under license by Visa International Incorporated.
Card information and inquiries: If you have questions regarding your Business Account or the Cards, including the Balance available on the Card, these terms and conditions, or want to make a complaint, you may contact Float customer service via the Website, by emailing support@floatfinancial.com, or by calling the following toll-free number 1-833-944-3175.
Key Card features and restrictions:
Limits: Maximum Spend Per Transaction CAD $750,000 | Maximum Spend Per Day CAD $750,000 | Maximum Spend Per Month CAD $3,000,000
Fraud: A Card may be deactivated by us at any time if fraud or any other illegal or prohibited activity is suspected related to a Card or use of a Card.
Card Expiry and Access to Funds: The Card may have an expiry date. The expiry of a Card does not affect your right to access available funds through the Float platform, subject to the applicable terms. Replacement Cards may be issued in accordance with the applicable terms.
Returns and Refunds: Returns and refunds are subject to the merchant’s return policy. Any amounts credited to a Card for returns will be treated as credits to and for the benefit of Business Cardholder, as Cardholder, in accordance with this Agreement.
Funds made accessible through the Card are not deposits with Float. Such funds are safeguarded in accordance with the Retail Payment Activities Act (Canada) and are held in trust for cardholders in one or more segregated accounts at Canadian financial institutions that are members of the Canada Deposit Insurance Corporation (“CDIC”). CDIC deposit insurance may apply only where, and to the extent that, such an account is structured to meet CDIC’s requirements for trust deposits, and remains subject to applicable coverage limits and requirements.
Lost or Stolen Card: You must take all reasonable steps to protect a Card against unauthorized use. If a Card is misused, you must immediately notify us via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175. You are responsible and must pay for all Card transactions, without limitation, that are completed before you notify us and also for all Card transactions that you approve on any Card even after you have notified us.
Split Tender Transactions: If the Balance is not sufficient to cover the full point of sale Transaction Amount, you may ask the merchant if they will accept a split tender transaction. A split tender transaction allows you to use the remaining Balance to pay for part of the Transaction Amount and cover the difference with another form of payment, e.g., cash, cheque, credit or debit. If you fail to inform the merchant that you would like to complete a split tender transaction prior to using your Card, your Card may be declined. Merchants do not have to and may not agree to accept split tender transactions.
Key Responsibilities, as Business Cardholder, under this Agreement include:
Definitions
For the purposes of this Agreement only, the following terms will have the meanings set forth below:
Acceptance: This Agreement constitutes a binding agreement between you and us with respect to the terms of use of each Card, including use by Business Administrator and each Card User, and the Float Card Program. You agree and shall ensure the Business Administrator and each Card User is made aware of the rights and restrictions that apply to participation in the Float Card Program and use of a Card under this Agreement. You agree and shall ensure the Business Administrator and each Card User complies with this Agreement. You also agree and shall ensure that each Card User agrees to the Float Visa Card - Card User Terms and Conditions in a form approved by Float and agree that you will comply with all requirements of Applicable Law when obtaining agreement to those terms and conditions from your Card Users.
The Card: The Card is a Visa card that can be used at any merchant that accepts Visa, subject to the limitations set out in this Agreement on the manner of use, including those in the Information Disclosure Summary above.
Activating the Card: The Card cannot be used for any purpose until it has been activated. Virtual Cards are activated upon issuance. To activate your physical Card, follow the instructions provided on or with the Card. Whether or not the Card has an activation sticker adhered to the Card face, you must sign the back of the Card and select a PIN.
Ownership and Use of the Cards: You represent and warrant to us and agree that: (a) you will not permit any Card User to use a Card unless the Card User is of the age of majority in the jurisdiction which they reside; (b) the Card User is an active and current employee, contractor or other authorized user of your business; (c) information you provide about Card Users is or will be truthful, accurate, current, and complete, and we may rely upon it; (d) you received a copy of this Agreement and agree to be bound by and to comply with its terms; (e) you provided a copy of the Float Visa Card – Card User Terms and Conditions to all Card Users and each Card User has agreed to be bound by its terms; and (f) you accept each Card for use in accordance with the terms of this Agreement, or use by Card Users in accordance with the requirements of this Agreement and the Float Visa Card – Card User Terms and Conditions.
We will issue physical or virtual Cards that you may provide to a Card User to use. Virtual Cards may be used online or over the phone, added to a Wallet (as defined in, and subject to, the Float Digital Wallet Terms of Use) where supported, or otherwise used as permitted by Float. Card User may use the virtual Card upon receipt. Subject to the limitations in the chart entitled “Limits” in the Information Disclosure Summary above, each Card can be used to pay the full Transaction Amount from merchants who accepts Visa, including applicable taxes. Each Card is, and will remain, our property. The Card is not a credit card, charge card, or debit card; provided, however, Float may separately offer charge card services pursuant to the Float Terms. No interest, dividends or other earnings or returns will be paid on the Business Account, a Card Account, a Card, or a Balance. The Business Account, a Card Account, a Card and Balance is not a deposit account and neither you nor any Card User may write cheques on the outstanding Balance. We shall have no obligation to any Card User or to you relating to any contract or arrangement between you and a Card User. We are not parties to your agreements with any Card User or any agreements between you, or a Card User, and any third-party. We are not bound by the terms of any such agreements, nor are we obligated to act to fulfil any other person’s obligations under such agreement, even if we are made aware of the existence and terms of such agreement.
When the Card is used to make a purchase, the Transaction Amount will be deducted from the available Settlement Funds transferred as Balance on the Card or, otherwise, associated with the Card Program. Use of the virtual card shall have the same legal and binding effect on you, as if a physical Card were used in person, verified by an authorized signature or personal identification code confirming authority to charge the Card for the full Transaction Amount. You agree that, if a merchant requires that you sign a sales draft, we are not required to verify your signature on any sales draft prepared in connection with a transaction on the Card and we may authorize and process a transaction even if the signature on the sales draft is different than the signature on the Card.
Some merchants, including but not limited to restaurants, hotels, or car rental companies, may pre-authorize the Transaction Amount for the purchase amount plus up to 20% or more above the purchase amount to ensure that there are sufficient funds available on the Card to cover any tips or incidental expenses. In such cases, your transaction will be declined if the Balance will not cover the Transaction Amount plus the additional pre-authorization percentage.
A pre-authorization will place a hold on an amount of your available Card funds until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the pre-authorization amount on hold in excess of that final payment amount will be released. The time it takes for a pre-authorization hold to be removed may vary depending on the merchant.
During the hold period, you will not have access to the pre-authorized amount.
You will be solely and completely responsible for the possession, use and control of each Card. You must disable or delete a Card immediately upon request by us. The Cards are issued to you only. If you allow another person, including a Card User or Business Administrator, to use a Card, you agree, to the extent permitted by Applicable Law that you will be liable for all transactions arising from use of a Card.
We are not liable to you or a Card User for declining authorization for any particular transaction, regardless of our reason, including but not limited to if there are insufficient Settlement Funds or Balance to pay for the transaction. If for any reason a Card transaction is processed when there are insufficient funds loaded on the Card or other Settlement Funds, you agree to make immediate payment to us to cover the Transaction Amount.
We may, in our sole discretion, cancel or suspend any features or services of the Card at any time, with or without cause, upon notice to you or as otherwise required by Applicable Law.
You represent and agree that the Cards are issued to you for a business purpose only.
You agree that we may treat every instruction we receive as being initiated by or from you or persons authorized by you to provide instructions, including your Business Administrator or Card User, and as a valid and authorized instruction by you to process and pay for Card transactions from funds loaded on the Card or otherwise from the Settlement Funds unless we have been notified of a risk of fraud or unauthorized use and had opportunity to deactivate the Card.
Information About Balance: It is your responsibility to ensure that there is a sufficient Balance on the Card to cover transactions plus any pre-authorized amounts. To obtain the current Balance amount, or the transaction history, visit the Website. The Balance will reflect all transactions that have been posted to our system. You are not allowed to exceed the Balance available on the Card for any transaction.
If you attempt to use the Card when there is insufficient Balance available to cover the full Transaction Amount, the transaction in most instances will be declined. However, if due to a systems malfunction or for any reason whatsoever, a transaction occurs despite insufficient Balance on the Card, creating a negative amount, you agree to reimburse us within five (5) business days of our request for the amount of the Transaction Amount in excess of the Balance. You authorize us to set off such amount against any funds held by or for you that do not constitute end-user funds we are required to safeguard under the Retail Payment Activities Act (Canada), or otherwise to recover such amount in accordance with the Float Terms.
Subject to the applicable terms, you may use the Float platform to transfer funds to or from your Business Account, including withdrawals to your connected bank account.Card transactions are paid from the Settlement Funds held in your Business Account. Your Business Account may also hold funds used for other Float products and services, which are governed by the applicable Float Terms.
Transactions Made in Foreign Currencies: We may convert any transactions made in a foreign currency to Canadian dollars using the Visa Conversion Rate in effect on the day the transaction is posted to your Card Account. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date. The Visa Conversion Rate may not be the same as the rate that existed on the date the transaction was made.
However, if a foreign currency transaction is refunded to the Card, the Visa Conversion Rate used to convert your refund to Canadian dollars for the Card is the applicable rate that we pay to Visa on the date of the refund. Additionally, the rate that we pay to Visa may not be the same as the rate that existed on the date the transaction was refunded. For these reasons, the amount that is credited to the Card for a refund of a foreign currency transaction will, in most cases, be less than the amount that was originally charged to the Card for that transaction.
Protection Against Unauthorized Use: If a Card is lost, stolen or used without authorization, you must notify us immediately and provide any information we reasonably request. A Business Administrator or User may suspend the Card at any time through the Float web application. We will refund eligible unauthorized transactions in accordance with the Visa Zero Liability Policy.
With the Visa Zero Liability Policy, provided that you are in compliance with the terms of the Visa Zero Liability Policy, you will not be liable for any unauthorized use of the Card on any transactions processed by Visa. In any case, you must notify us at 1-833-944-3175 IMMEDIATELY of any unauthorized use. For the Visa Zero Liability Policy to apply, you must establish, to our satisfaction that you are not in any way whatsoever, fully or partially, responsible for the disputed transaction, including, without any limitation, that you notified us immediately following any loss, theft or unauthorized use, and that the unauthorized use does not result in any way from your breach of this Agreement or of the Float Terms , all in accordance with the conditions of the Visa Zero Liability Policy. Verification of a Visa Zero Liability Policy claim can take up to one hundred and twenty (120) days once all the paperwork has been received and confirmed by us, and may require a police investigation.
As a condition to any reimbursements made or to be made, if you are entitled to receive one, and to the extent permitted by Applicable Law, you agree to cooperate and assist with any attempts by us to investigate and recover from unauthorized users and to assist in the prosecution of recovery claims.
Notification and Changes to the Agreement: You acknowledge that from time to time we may amend this Agreement. Use of a Card subsequent to such amendments shall constitute acceptance of the amended Agreement.
You are responsible for (i) informing us of any change in your mailing or email address, by contacting customer service via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175, and (ii) for regularly checking the Website for notifications of amendments to the Agreement. Notice will be deemed to be received by you five (5) days after mailing, the next business day after sending an electronic mail or other electronic message or posting notice of amendment on the Website. You are solely responsible for notifying Card Users of any changes to this Agreement which may affect the Card User’s rights or obligations with respect to a Card and agree that you shall make reasonable and timely efforts to do so.
Float’s Privacy Policy: Float’s general personal information practices are described in Float’s Privacy Policy, as amended from time to time, available online at https://floatfinancial.com/legal#float-financial-solutions-privacy-policy
Personal Information Consent: By requesting a Card, you consent to the collection, use, disclosure and retention of your personal information, or personal information of your personal representatives, if any, by Float and Float’s service providers for purposes relating to your request for a Card and your use of a Card, for the establishment and operation of the Float Card Program and as otherwise described below. The collection of that information is necessary for the entering into and performance of this Agreement. The restrictions and requirements described herein do not apply to information that is aggregated or otherwise de-personalized and does not identify an individual.
By accepting these terms and conditions, you represent and warrant that you and your personal representatives have provided valid consent to the collection, use and disclosure of their personal information as contemplated in this Agreement. References to “you” in this section, and any provision of this Agreement dealing with collection, use and disclosure of personal information, shall include all such individuals.
What We Collect: Float and Float’s service providers may collect personal information about you and your personal representatives, e.g., their name, address, telephone number and date of birth, when a Card is requested, when a Card is issued to you, or in respect of the establishment and operation of the Float Card Program. Float and Float’s service providers may collect personal information about you and your personal representatives, including information about Card transactions, e.g., the date, amount and place of each transaction, all collectively “Cardholder Information”. From the date of this Agreement and throughout its term, we will collect your Cardholder Information directly from you, your personal representatives, and from other sources, including third party providers of identity verification, demographic and fraud prevention services, publicly available sources, such as internet sites, government agencies, and registries, for the purposes described herein.
How We Use, Retain, and Disclose Personal Information: We will use, disclose and retain Cardholder Information to process requests for a Card, including to verify your identity, and, if a Card is issued to you, to provide you with services relating to your Card, including to administer your Card and to process Card transactions, to protect against fraud and for legal compliance purposes, to perform and enforce this Agreement, to protect and enforce our legal rights and for other purposes required or permitted by Applicable Law. Float may disclose your Cardholder Information to Float’s service providers to assist us to provide services to you and to provide related services to us.
We may use and store your Cardholder Information at facilities in various countries, including Canada and the United States of America. The personal information protection laws of those countries might be different from the laws of the jurisdiction in which you are located, and might permit courts, government, law enforcement and regulatory agencies and security authorities in those countries to access your Cardholder Information without notice. The laws on data protection in other jurisdictions, to which we may transfer your information, may differ from those in your jurisdiction. Subject to these laws, we will use reasonable measures to maintain protections of your personal information that are equivalent to those that apply in your jurisdiction. You hereby give your consent to such cross-border transfers, including to the United States, of such personal information for the purpose set out above.
We will rely on you to ensure that your Cardholder Information is accurate, complete and up to date. You will promptly inform us, by contacting customer service via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175, of any changes to your Cardholder Information or if you discover any errors in your Cardholder Information. We may use your Cardholder Information, including your telephone and mobile phone numbers and your email addresses, to contact you, including by regular and electronic mail, telephone call, including by pre-recorded or artificial voice messages and automatic telephone dialing systems, and instant messaging, regarding your Card and related matters, regardless of whether you incur any long distance or usage charges as a result.
We may monitor and record our communications and correspondence with you, including emails, online chats and telephone calls, for quality assurance, staff training and legal compliance purposes.
Safeguarding Personal Information: We protect personal information in our possession or control from loss, theft, alteration and misuse. We maintain physical, electronic and procedural security measures that comply with Canadian regulations to safeguard Cardholder Information. The safeguards employed by us to protect your personal information depend on the sensitivity, amount, distribution, format and storage of the personal information. Although technologies can make it easier for fraud to occur, we employ around the clock monitoring systems and controls to detect and prevent fraudulent activity. We also build fraud prevention measures into our due diligence processes and regularly update our fraud detection/prevention methods. While we take precautions to protect your personal information from loss, theft, alteration, or misuse, no system or security measure is completely secure. Any transmission of your personal data is at your own risk and we expect that you will use appropriate measures to protect your personal information as well.
Other Uses of Personal Information: In addition to the foregoing, if you consent to other parties, whether they are participating in the Float Card Program and its administration or otherwise, collecting, using or disclosing your personal information, including Cardholder Information, for their own purposes, not as Float’s service provider, including to send marketing and promotional messages to you, then we will not have any control over, and will not be responsible or liable for the collection, use, disclosure and retention of your personal information by those parties, the marketing or promotional messages that they send to you, or any other wrongful act or omission by the third party.
Your Right to Access Personal Information: Individuals may obtain access to the Cardholder Information we hold about them at any time and review its content and accuracy, and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to such information, to ask questions about our privacy policy or to withdraw your consent to the collection, use and disclosure of your Cardholder Information and to cancel your Card and all related services from us, contact customer service via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175. If Cardholder Information is obtained from personal information agents, such as providers of identity verification data and demographic information, we will inform you of your right of access and rectification in relation to the file held by the personal information agent and will indicate to you the manner in which and the place where you may have access to the reports or recommendations and cause them to be rectified, where necessary. If you withdraw your consent, we will continue to collect, use, disclose and retain your Cardholder Information for as long as may be reasonably required to perform services relating to the cancellation of your Card, to protect against fraud and for legal compliance purposes, to perform and enforce this Agreement, to protect and enforce our legal rights and for other purposes required or permitted by Applicable Law.
Card User and Business Administrator Information: We may collect, use, disclose and retain information concerning Card Users and Business Administrator “Card User Information” for the purpose of performing our obligations and exercising our rights under this Agreement, including issuing cards for the Card Program, processing transactions and providing support for the Card Program, performing fraud risk management, complying with Applicable Law and locating and obtaining the return of any Cards we have issued and request be returned to us. You will obtain, in accordance with Applicable Law, and maintain reliable records of, all necessary legally valid and informed consents, authorizations and rights from each Card User so that you may lawfully provide their Card User information to us, and we may lawfully collect, use, disclose and retain such Card User Information for each of the foregoing purposes. You agree to provide us with such records promptly upon request.
Disputes: If you believe a transaction on a Card account is incorrect, including a billing discrepancy, unauthorized transaction, or merchant charge dispute involving your Float Visa Card, you must notify us in writing of your dispute within sixty (60) days of the transaction date by submitting a request on the Website or contacting us via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175. If there is any dispute in regard to purchases made using a Card, you agree that such disputes must first be attempted to be resolved between you or the Card User and the merchant from whom the purchase was made or between you and the Card User, as the case may be, within fifteen (15) days of the transaction date or such shorter period as may be required by applicable Visa rules; provided that this fifteen (15) day period runs concurrently with, and does not reduce, the sixty (60) day notice period described above. We are not responsible for any problems you or a Card User may have with any goods or services purchased with a Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. Float may review the dispute in accordance with its dispute resolution process and, where applicable, escalate unresolved Card transaction disputes through the standard Visa network dispute and arbitration rules. More information about Float's dispute resolution process is available at https://help.floatfinancial.com/hc/, or you may contact us via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175. If funds have been credited to a Card following the processing and approval of a chargeback request, those amounts will be treated as credits to and for the benefit of Business Cardholder, as Cardholder, in accordance with this Agreement.
Arbitration (not applicable to residents of Quebec): Any dispute between the parties arising from or related to this Agreement shall be resolved by final and binding arbitration administered by ICDR Canada under its Canadian Arbitration Rules by a sole arbitrator appointed in accordance with those Rules. The place of arbitration shall be Toronto, Ontario, Canada. This section does not limit the handling of billing discrepancies, unauthorized transactions, or merchant charge disputes through the applicable Visa network dispute resolution, chargeback, or arbitration rules.
Complaints: If you have a complaint or inquiry about any aspect of a Card, you may first attempt to resolve the complaint or inquiry via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175. If the matter is not resolved to your satisfaction, you may request that it be escalated to Float’s Compliance team. We will make reasonable efforts to investigate and resolve your complaint or inquiry.
Cancellation: We may cancel use of a Card or any features or services or terminate this Agreement without cause upon prior written notice to you at least sixty (60) days in advance. If you are in default of your obligations under this Agreement, we may cancel use of a Card or any features or services or terminate this Agreement immediately upon written notice to you. Written notice will be provided to you at the most recent mailing or email address that we have on record for you or by posting notice of cancellation or termination on the Website. You may at any time terminate this Agreement by contacting customer service.
Despite any termination of this Agreement, you must fulfil all of your obligations under this Agreement.
No Warranty of Availability or Uninterrupted Use: FROM TIME TO TIME CARD SERVICES MAY BE INOPERATIVE, AND WHEN THIS HAPPENS, YOU MAY BE UNABLE TO USE YOUR CARD. PLEASE NOTIFY US AT 1-833-944-3175 IF YOU HAVE ANY PROBLEMS USING YOUR CARD. YOU AGREE THAT WE ARE NOT RESPONSIBLE FOR ANY INTERRUPTION OF SERVICE.
Third Party Claims: In the event we reimburse you for a refund claim you have made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with a Card, you are automatically deemed to assign and transfer to us any rights and claims, excluding tort claims, that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your Card. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your Card, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you. If we do not exercise our rights under this section, we do not give up our rights to exercise them in the future.
Disclaimer of Warranties: EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT, NEITHER FLOAT NOR FLOAT’S SERVICE PROVIDERS MAKE ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.
Limitation of Liability: EXCEPT AS EXPRESSLY REQUIRED BY THIS AGREEMENT OR APPLICABLE LAW, NEITHER FLOAT NOR FLOAT’S SERVICE PROVIDERS WILL BE LIABLE TO YOU FOR PERFORMING OR FAILING TO PERFORM ANY OBLIGATION UNDER THIS AGREEMENT UNLESS FLOAT OR FLOAT’S SERVICE PROVIDERS HAVE ACTED IN BAD FAITH. WITHOUT LIMITING THE FOREGOING, NEITHER FLOAT NOR FLOAT’S SERVICE PROVIDERS WILL BE LIABLE TO YOU FOR DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES WHATSOEVER BEYOND OUR CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, EPIDEMIC OR PANDEMIC, PUBLIC HEALTH EMERGENCY, COMMUNICABLE DISEASE OUTBREAK, INSURRECTION, WAR, RIOTS, FAILURE OF MERCHANTS TO PERFORM OR PROVIDE SERVICES, FAILURE OF COMMUNICATION SYSTEMS, OR FAILURES OF OR DIFFICULTIES WITH OUR EQUIPMENT OR SYSTEMS. ALSO, WITHOUT LIMITING THE FOREGOING, NEITHER FLOAT NOR FLOAT’S SERVICE PROVIDERS WILL BE LIABLE TO YOU FOR ANY DELAY, FAILURE OR MALFUNCTION ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, ANY PAYMENT SYSTEM OR ANY CUSTOMER SERVICE FUNCTION. IF FLOAT OR FLOAT’S SERVICE PROVIDERS ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL AND DIRECT DAMAGES, AND IN NO EVENT SHALL FLOAT’S OR FLOAT’S SERVICE PROVIDERS’ AGGREGATE LIABILITY EXCEED THE BALANCE IN YOUR BUSINESS ACCOUNT AT THE TIME OF THE EVENT GIVING RISE TO THE CLAIM. IN NO EVENT, WILL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR SPECIAL DAMAGES, WHETHER IN CONTRACT, TORT, OR OTHERWISE, EVEN IF YOU HAVE ADVISED US OF THE POSSIBILITY OF SUCH DAMAGES.
Indemnity: YOU WILL DEFEND, INDEMNIFY AND HOLD HARMLESS FLOAT AND FLOAT’S SERVICE PROVIDERS, THEIR RESPECTIVE AFFILIATES AND EACH OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, OTHER REPRESENTATIVES, SUCCESSORS AND ASSIGNS, COLLECTIVELY, THE “INDEMNIFIED PARTIES”, FROM AND AGAINST ANY AND ALL CLAIMS, COMPLAINTS, DEMANDS, INVESTIGATIONS, ACTIONS, SUITS AND PROCEEDINGS BY ANY PERSON, INCLUDING ANY REGULATORY AUTHORITY OR CARD USER, EACH A “THIRD PARTY CLAIM/PROCEEDING”, AND ALL RESULTING LIABILITIES AND OBLIGATIONS, INCLUDING DAMAGES, ADMINISTRATIVE MONETARY PENALTIES, FINANCIAL SANCTIONS, SETTLEMENT PAYMENTS, EXPENSES AND COSTS, INCLUDING LEGAL FEES, ARISING FROM, CONNECTED WITH OR RELATING TO ANY OF THE FOLLOWING: (A) THE USE OF A CARD BY YOU OR ANY OTHER PERSON; OR (B) ANY NEGLIGENCE, MISCONDUCT OR BREACH OF THIS AGREEMENT BY YOU OR ANY PERSON FOR WHOM YOU ARE RESPONSIBLE UNDER THIS AGREEMENT OR AT LAW. NOTWITHSTANDING THE FOREGOING, THE INDEMNIFIED PARTIES RETAIN THE RIGHT TO PARTICIPATE, WITH COUNSEL OF THEIR OWN SELECTION AT THEIR SOLE COST AND EXPENSE, IN THE DEFENSE OF AND SETTLEMENT NEGOTIATIONS RELATING TO ANY THIRD-PARTY CLAIM/PROCEEDING.
Website and Availability: We do not warrant that the Website, customer service number or other operational and communications channels will be available and error free at all times. You agree that we will not be responsible for temporary interruptions in service due to maintenance, Website changes, or failures, nor will we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labour disputes and armed conflicts. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses that may affect your computer or other equipment. You agree to act responsibly with regard to the Website and its use. You will not violate any laws, interfere or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten or harass anyone, gain any unauthorized entry, or interfere with the Website’s systems and integrity.
Entire Agreement: This Agreement sets forth the entire understanding and Agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or Agreements with respect to such subject matter.
Governing Law; Submission of Jurisdiction: This Agreement will be construed in accordance with and governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein. Subject to the arbitration agreement above, the parties will initiate any lawsuits in connection with this Agreement in Toronto, Ontario, Canada. They irrevocably attorn to the exclusive personal jurisdiction and venue of the courts sitting therein.
Section Headings: Section headings in this Agreement are for convenience of reference only and will not govern or affect the interpretation of any provision of this Agreement.
Severability: If any of the terms of this Agreement are invalid, changed by Applicable Law or declared invalid by order of court or regulatory authority, the remaining terms of this Agreement will not be affected, and this Agreement will be interpreted as if the invalid terms had not been included in this Agreement.
English Language: The parties have expressly required that this Agreement, and any communications, other contracts, documents and notices relating to this Agreement be drafted in the English language only.
Les parties ont expressément exigé que la présente convention et toute communication, autres contrats, documents et avis qui y sont afférents soient rédigés dans la langue anglaise seulement.
Contact Information: If you have questions regarding a Card, or need to report a lost or stolen Card, you may contact us via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175.
*Visa Int./Float Financial Solutions Inc., Licensed User.
Effective date: August 12, 2026
These Float Visa Card Program – Card User Terms and Conditions (“Terms”) set out the terms and conditions applicable to the Float Visa Card. IMPORTANT: These Terms include resolution of disputes by arbitration instead of in court and a class action waiver.
You agree to be bound by these Terms, which you must accept as a condition of using the Card. You agree that our provision of the Card, the processing of transactions initiated by you, and the ability to use the Card in the course of your relationship with Business Cardholder, and in accordance with these Terms, is of value to you and good consideration for your agreement to these Terms.
INFORMATION DISCLOSURE SUMMARY (detailed terms and conditions will follow):
Card Issuer: Float Financial Solutions Inc. issues the Card pursuant to a license from Visa International Incorporated.
Cardholder:
Card Information and Inquiries: If you have questions regarding your use of the Card, these Terms, or to lodge a complaint, you may contact us via the Website, by emailing support@floatfinancial.com, or by calling 1-833-944-3175.
Key Card features and restrictions:
Limits: Maximum Spend Per Transaction CAD $750,000 | Maximum Spend Per Day CAD $750,000 | Maximum Spend Per Month CAD $3,000,000
Please also note: Card may be deactivated by us at any time if fraud is suspected related to the Card or use of the Card.
The Card may have an expiry date. The expiry of a Card does not affect the Business Cardholder’s right to access available funds through the Float platform, subject to the applicable terms.
Returns and refunds are subject to the merchant’s return policy. Any amounts credited to the Card for returns will be treated as credits to and for the benefit of Business Cardholder, as Cardholder, in accordance with these Terms.
Funds made accessible on the Card are held in trust for cardholders at one or more Canadian financial institutions that are members of the Canada Deposit Insurance Corporation (“CDIC”) and may be eligible for deposit insurance, subject to applicable coverage limits, requirements and CDIC rules. For more information, visit www.cdic.ca
As a Card User of the Float Card, you are only permitted to use the Card as allowed by Business Cardholder and in accordance with the Cardholder Agreement between Business Cardholder and us. You may be required to fulfill some of the obligations of the Cardholder, including those stipulated in these Terms and pursuant to your agreements with Business Cardholder.
Lost or Stolen Card: You must take all reasonable steps to protect the Card against loss, theft, or unauthorized use. If the Card is lost or stolen or misused, you must contact us via the Website, by emailing support@floatfinancial.com, or by phone at 1-833-944-3175. Business Cardholder is responsible and liable to us for all Card transactions that are completed before we are notified that such an event has occurred and also if Business Cardholder approves transactions on any such Card. You may be liable to Business Cardholder for some or all such transactions. Your liability to Business Cardholder is subject to the terms of your agreements with Business Cardholder.
Key Responsibilities Under These Terms includes:
ADDITIONAL TERM DETAILS
Please read these Terms carefully and retain a copy for your records. IMPORTANT: These Terms include resolution of disputes by arbitration instead of in court and a class action waiver.
Your use of the Card will be evidence that you acknowledge and agree to be bound by these Terms herein, as amended from time to time. We will be using the following definitions in these Terms. If a term is not defined below, it has the meaning given to it within the section in which it is referenced.
‘Applicable Law’ means any statute, regulation or operating rule of any Governmental Authority or any other regulatory authority that applies to you or us, or which governs our relationship, or any bylaw, operating rule or regulation of Visa.
‘Balance’ means an amount of funds that are made available to the Card, if any.
‘Business Account’ means the account established by Business Cardholder with us in connection with the Float Card Program, through which one or more Card Account(s) are established and funded.
‘Business Administrator’ means any designated person authorized by Business Cardholder to administer the Business Account and associated Card Account(s), including without limitation designating Card Users, funding Card Accounts, and setting Card Account limitations.
‘Business Cardholder’ means the entity that has qualified for and established a Business Account and one or more Card Account(s) with us, who is permitted to provide the Card to you for use in your capacity as a “Card User” in the manner contemplated in these Terms.
‘Card’ means the Float Visa Card, which can be a virtual or physical card, issued by us to Business Cardholder that Business Cardholder permits you to use.
‘Card Account’ means an account associated with a Card issued under the Business Account, through which transactions on that Card are recorded and funded.
‘Card User’ means, under the Cardholder Agreement, an individual who has possession of a Card that has not been reported to us as lost, stolen or compromised, or who is otherwise authorized by the Business Cardholder to use a Card, and includes you if you are provided with a Card by or at the direction of Business Cardholder.
‘Cardholder Agreement’ means the agreement between Business Cardholder and us governing the Business Account and the Card Account(s), as amended from time to time.
‘Float’ means Float Financial Solutions Inc., a Canadian corporation, and its successors, affiliates or assignees.
‘Float Card Program’ or ‘Program’ means the program through which we issue one or more Cards to the Business Cardholder for use by you, Business Cardholder, or Business Administrators to assist the Business Cardholder in managing corporate expenses.
‘Float Terms’ mean any agreement(s) between Float and any Business Cardholder or Card User that govern the provision of Float services.
‘Governmental Authority’ means any Canadian federal, provincial, territorial, regional, municipal or local governmental authority, quasi-governmental authority, government organization, commission, board, professional agency, tribunal, organization, or any regulatory, administrative or other agency, or any political or other subdivision, department, or branch of any of the foregoing, in each case to the extent it has jurisdiction over Float or any Person, property, transaction, activity, event or other matter related to these Terms. The above definition is deemed to include any interim or permanent transferee or successor of a Government Authority’s underlying mandate, function or activity.
‘Person’ means an association, a corporation, an individual, a partnership, a trust, an unincorporated organization or any other entity or organization.
‘POS’ means a point-of-sale terminal or other device used to process a transaction on the Card.
‘Terms’ means these terms and conditions applicable to Card User’s use of the Card.
‘Visa’ means Visa International Incorporated, and its successors and assigns.
‘Visa Conversion Rate’ means the rate that we pay to Visa to convert foreign currency to Canadian currency, plus any margin, markup, spread or other adjustment that we may apply to that rate..
‘We’, ‘us’, or ‘our’ all mean Float Financial Solutions Inc., in its capacity as issuer of the Card. References in these Terms to our service providers and third parties required to fulfill and manage the Card are for the purpose of extending protections and limitations to such parties and do not create any independent obligations on their behalf.
‘Website’ means floatfinancial.com.
‘You’, ‘your’, or ‘yours’ mean you in your capacity as a Card User.
Acceptance: These Terms govern your use of the Card as a Card User under the Float Card Program. By using the Card, you confirm that you have received, reviewed, and accepted these Terms in accordance with Applicable Law.
*Visa Int./Float Financial Solutions Inc., Licensed User.
Effective date: August 12, 2026
Last Updated: September 22, 2025
Float Financial Solutions Inc. and its subsidiary Float Financial Solutions US Inc. (“Float”, “Us”, “Our”) have prepared this privacy policy to explain the manner in which we collect, use and disclose personal information, including personal information that we collect through floatcard.com (the “Website”) and information we process on behalf of our customers in connection with the use of our Services (as defined below).
Your privacy is important to us. To ensure you have access to all of the information you need, we have laid out an overview of the content of this Privacy Policy below. If you have any questions about how we process your personal information or suggestions on how we can improve, please reach out to our Legal Team at legal@floatfinancial.com. If you do not agree, do not use the Float Services or Website and Product.
The information we collect, process, and otherwise receive through your use of our Product is governed by terms of our agreements with our partner institutions and customer in question, including our cardholder agreement. In the event of a conflict between this Privacy Policy and the terms of any agreements between a business customer and Float, the terms of those agreements will take precedent.
Float provides an online spend management platform through which our customers can load funds onto prepaid corporate cards (“Card(s)”), set rules and budgets for expenditures made using those cards, track spending by individual employees, and manage and track business spending, through which Float can calculate cashback each customer has earned through their expenditures and derive insights for our customers on employee spending patterns (collectively the “Services”). In the course of providing these Services, we receive and process personal information as described below to provide the Services to our customers. All personal information collected or derived from an employee may be shared with our customer that issued credit cards to those employees. We do not use this information for any other purpose except as set out in this privacy policy, customer’s agreement with us, or as required or permitted by applicable laws.
Information required to provide the Services: In order to provide the Services to our customers, we collect, process, and disclose:
In addition to the sample of data points we highlighted in the “Collection and use of Personal Information” section above, we also automatically collect data via our Website to improve functionality, increase security, protect against fraud, understand your preferences, market to you, and better tailor our Services. As you navigate through and interact with our Website, we may use automatic data collection technologies to collect certain information about your equipment, browsing actions, and patterns, as described in this section.
We also may use these technologies to collect information about your online activities over time and across third-party websites or other online services (behavioral tracking). For information about how you can opt out of behavioral tracking from many providers, see Choices About How We Use and Disclose Your Information.
The Website does not respond to do-not-track signals.
We collect and process information in accordance with the practices described in this Privacy Policy in order to action business functions, including:
We do not sell or disclose personal information to third parties without your consent, except as set forth below or as required or permitted by law.
Please note that Float is not responsible for the Privacy practices of any third-party affiliates or service providers. The information collected and stored by said parties is subject to their own policies and practices, including what information they share with us, your rights and choices on their services and devices, and whether they store information in the U.S. or in other jurisdictions. We strongly suggest that you review the privacy practices of said parties prior to using their services.
We have implemented reasonable administrative, technical and physical measures in an effort to safeguard the personal information in our custody and control against theft, loss and unauthorized access, use, modification and disclosure. However, please note that no information security program or transfer via the internet is entirely secure and, although we employ safeguards to protect your personal information, we cannot guarantee the security of your personal information transmitted to our Website, platform, or through the Services. Any transmission of personal information is at your own risk. We are not responsible for circumvention of any privacy settings or security measures contained on the Website or platform.
We strive to provide you with choices regarding the personal information you provide to us. We have created mechanisms to provide you with the following control over your information:
We do not control third parties’ collection or use of your information to serve interest-based advertising. However these third parties may provide you with ways to choose not to have your information collected or used in this way. You can opt out of receiving targeted ads from members of the Network Advertising Initiative (“NAI”) on the NAI’s website, here.
If we receive a request from an individual to access or update personal information we maintain on behalf of a customer, we will direct that individual to the relevant customer. We will assist our customers wherever possible in responding to individual access requests. Subject to applicable law, you may have the right to access, update and correct inaccuracies in your personal information in our custody or control. You may request access, updating and corrections of inaccuracies in your personal information in our custody or control by emailing or writing to us at the contact information set out below. We may request certain personal information for the purpose of verifying the identity of the individual seeking access to his or her personal information records.
Nevada Residents: Nevada law (NRS 603A.340) requires each business to establish a designated request address where Nevada consumers may submit requests directing the business not to sell certain kinds of personal information that the business has collected or will collect about the consumer. A sale under Nevada law is the exchange of personal information for monetary consideration by the business to a third party for the third party to license or sell the personal information to other third parties. If you are a Nevada consumer and wish to submit a request relating to our compliance with Nevada law, please contact us at legal@floatfinancial.com.
Our Website is not intended for children under 13 years of age. No one under age 13 may provide any information to the Website or receive our services. We do not knowingly collect personal information from children under 13. If you are under 13, do not use or provide any information on this Website. If we learn we have collected or received personal information from a child under 13 without verification of parental consent, we will delete that information. If you believe we might have any information from or about a child under 13, please contact us at the information provided in the “Contact Us” section of this privacy policy.
If you have any questions or comments about this privacy policy or the manner in which we or our service providers treat your personal information, or to request access to our collection of your personal information, please contact us at:
+1 (833) 944-3175
legal@floatfinancial.com
This Cardholder Agreement (this “Agreement”) explains the terms and conditions of your Account. By opening an Account or using your Card or allowing someone else to use your Card, you agree to the terms of this Agreement. Please keep a copy of this Agreement for your records.
Interest Rates and Interest Charges Paying Interest We will not assess any interest on any Card Account balance.
Float Financial Solutions US Inc. (“Float” or “Platform”) is providing this Agreement to Cardholder (“Cardholder,” “you,” and “your”) on behalf of Thread Bank (“Bank,” “we,” “us,” and “our,” including our successors, affiliates, and assignees), a member of the Federal Deposit Insurance Corporation (“FDIC”).
The Agreement is an agreement between you and us governing the use of your Card and Account (as defined below) issued by us. We are the provider of the Card and Account. The words “you” and “your” refer to the legal entity whose Authorized Representative agrees to be bound by this Agreement.
Access to your Account and the services under this Agreement are available only through Platform’s website and/or phone application (collectively, the “Platform App”). Platform is responsible for making the Platform App available to you. You should review your agreement with Platform for a complete list of services available. For a list of the services enabled and made available to you by the Platform, please visit the Platform App.
Access to your Account and the services offered under this Agreement shall be accessed through the Platform App unless we notify you otherwise. YOU UNDERSTAND THAT BY OPENING AN ACCOUNT THROUGH THE PLATFORM APP, YOU AUTHORIZE BANK TO ACCEPT ALL INSTRUCTIONS PROVIDED TO BANK BY PLATFORM ON YOUR BEHALF.
Before opening an Account, in order to comply with federal laws and to manage your account (as defined below), you are required to provide us your business entity name, valid U.S. principal and local address (if different), date of establishment, employer identification number, valid email address, your phone number(s), and other information that we request in our sole discretion that will help us to identify you.
You must provide the information we request in this regard, which may include organization documents for your business (such as copies of your articles of incorporation and copies of the bylaws or operating agreement), a certificate of good standing, and business resolutions, as well as a certification regarding beneficial owners and control persons of your business. Those individuals may be required to provide additional information or identifying documents that we request, such as Social Security Number (SSN) or other government-issued identification number, date of birth, driver’s license, passport, or other identifying documents.
You must tell us when this information changes. We may ask you for additional documents to verify any changes. We may restrict or close your Account if we cannot verify your information, or if you do not provide it as requested. The account cannot be owned or titled jointly. You are responsible for use of the Account by others as set forth in this Agreement.
Capitalized terms not otherwise defined in this Agreement have the following meanings:
You agree to use your Account in accordance with this Cardmember Agreement and applicable law. You agree to use your Account for lawful transactions only. You must not use, or try to use, the Account for any illegal activity. You may use your Account only for business or commercial purposes, and not for any personal, family, or household purposes.
Your Card can be used to buy or lease goods or services wherever the Card is honored. You may be able to establish recurring periodic billing arrangements with merchants. It is your responsibility to ensure such merchants are provided with current Card information.
If your Account information changes, such as a change in Card number or Card expiration date, you consent to our providing such new Card information, in our discretion, to any or all such merchants, but we are not obligated to do so.
If your Account is closed or your Account or Card privileges are suspended or terminated, you understand that you may need to contact the applicable merchant(s) to ensure that automatic payments stop.
Each Cardholder must sign the Card when it is received, and you must return the Card to us or destroy it if we ask you to. “Cardholder” means you or a natural person, including your employee, to whom we issue a Card under this Agreement.
You may not use your Card Account for balance transfers.
We do not guarantee approval of transactions. We may not authorize a transaction for security or other reasons, such as Account default, suspected fraudulent or unlawful activity, internet gambling, or any indication of increased risk related to the transaction. We will not be liable to you if we decline to authorize a transaction or if anyone refuses your Card, or Account number.
You may use your Account to make Purchases by presenting your Card or providing your Card number and additional information (for example, in online or telephone transactions) to participating merchants and establishments that honor the Card.
We will not be liable to you (or anyone else) if any ATM, merchant or other person cannot or will not process a Purchase transaction permitted under this Agreement. Unless prohibited by applicable law, we may from time to time limit the type, number and dollar amount of any transaction, even if you have sufficient available credit to complete the transaction, and may terminate or suspend your use of the Card or the Account, with or without notice to you before or at the time we take such action.
When you use your Account or let someone else use it, you promise to pay the total amount of the transactions made, plus all interest, fees and other amounts that you may owe us. We may limit or close your Account, but the terms of this Agreement will apply until you pay the Account in full.
Concurrent with this Agreement, you have signed both a Pre-Authorized Debit Agreement and a Security Agreement with Float Financial Solutions U.S. Inc. While both the Pre-Authorized Debit Agreement and the Security Agreement exist between you and Float (and not you and Thread), in the event that you revoke either the Pre-Authorized Debit Agreement or the Security Agreement with Float, we may opt to close your Account with us, at the direction of Float.
You must activate your Card prior to use. You can activate it by accessing Float. If you need to replace your Card for any reason, please deactivate the Card by notifying us at 1 (833) 944 3175, or by emailing Float at support@floatfinancial.com.
The expiration date of each Card is identified on the back of the Card. Each Cardholder agrees to sign the back of the Card immediately upon receipt. Each Card is our property and must be surrendered to us or discarded upon demand. Each Card is non-transferable, and it may be canceled, repossessed, or revoked at any time without prior notice subject to applicable law. We may refuse to process any transaction that we believe may violate the terms of this Agreement.
You may have the option of accessing your Card Account with, in addition to your physical card, a virtual card represented by a 16-digit account number (“Virtual Card”). The Virtual Card may either be single-use (expires after a single transaction) or recurring-use (usable for multiple transactions). You may not use your Virtual Card to obtain cash anywhere.
If you make a purchase in a currency other than dollars, the amount of the charge to your Card Account will be converted by Mastercard International Incorporated into dollars. The conversion rate will be either a rate selected by Mastercard International Incorporated from the range of rates available in wholesale currency markets, or a government-mandated rate, where applicable.
If you use the 16-digit Card number without presenting the Card in person (such as for a mail order, telephone, or internet purchase), the legal effect will be the same as if you had physically presented the Card itself. For security reasons, we may limit the amount or number of such transactions.
We will rectify any processing error that we discover. If the error results in a charge of more than the correct amount, we will credit the Card Account for the difference. If the error results in a charge of less than the correct amount, we will charge the difference to the Card Account.
If you keep your Card on file with a merchant or payee with authorization to bill that Card for recurring payments, or to make future purchases or payments, you may need to notify each merchant of your updated Card information.
You should get a receipt at the time you make a transaction using your Card. You agree to retain, verify, and reconcile your transactions and receipts.
You can add your Card to a digital wallet by following the instructions of the digital wallet provider. The digital wallet may not be accepted everywhere. We may terminate or suspend your ability to use the Card in a digital wallet at any time.
You are solely responsible for maintaining the security of your digital wallet credentials. If you share these credentials with another person, you expressly authorize that person to access your Card Account and initiate charges.
We are not a provider of digital wallet services and are not responsible for their performance. YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT USE OF A DIGITAL WALLET SERVICE IS AT YOUR SOLE RISK.
You may be declared in default if, among other things:
If default occurs, we may:
This Arbitration Agreement is part of your Cardholder Agreement.
If you do not agree to arbitration, you must notify Platform within 60 days of entering this Agreement.
Please contact us at:
+1 (833) 944-3175
legal@floatfinancial.com
Last Updated: September 22, 2025
Last Updated: August 2026
We suggest you read this document and print a copy for your reference.
Note: This Electronic Communication Consent Agreement (“Agreement”) applies to any and all communications, notices, agreements, disclosures, or other information that we are legally required or otherwise choose to provide to you in writing in connection with your Card and any related products and services (“Communications”).
When you acknowledge your agreement to this Electronic Communication Consent Agreement, you are indicating your consent to all of the terms and conditions set out below.
In this Agreement, “we,” “us,” and “our” refer to Float Financial Solutions Inc., in its capacity as issuer of the Card, and, where applicable, its affiliates, processors, and service providers acting on Float’s behalf. “You” and “your” refer to the person or entity who consents to receive Communications electronically or to whom Communications are provided. “Card” means the Float Visa Card issued by Float Financial Solutions Inc. pursuant to a license from Visa. “Card Program” means the program under which the Card and related products and services are made available to you.
1. Scope of Communications to Be Provided in Electronic Form. When you acknowledge your agreement to this Agreement, you are agreeing to receive all Communications in electronic format, and that we may discontinue sending paper Communications to you, unless and until you withdraw your consent as described below. Your consent to receive electronic communications includes:
2. Method of Providing Communications to You in Electronic Form. All Communications that we provide to you in electronic form will be provided by one or more of the following methods:
You must provide us, or ensure that the applicable account owner, administrator, or authorized representative provides us, with a current email address to receive electronic Communications. Even if you have consented to receive electronic Communications, we may, in our discretion, from time to time send paper copies of certain Communications to any mailing address we have for you in our records, either in addition to or in lieu of providing electronic versions.
If you give us an incorrect email address, or fail to keep your email address updated, you agree that any Communications we make available or attempt to send through any of the methods described above will be deemed to have been provided to you in a timely manner.
Communications that we post on the Float website or in the Float platform will remain accessible for a reasonable period of time that we may establish in our discretion and that may vary with the type of Communication, and in any event will remain accessible so as to be usable by you for subsequent reference and capable of being retained and reproduced by you. You may download, save, or print any Communication for your records.
3. How to Withdraw Consent. You may withdraw your consent to receive Communications in electronic form at any time by providing notification of your withdrawal in writing by email to support@floatfinancial.com or by calling 1-833-944-3175. If you withdraw your consent, we may close, suspend, or restrict your access to the Card, Float account, Float platform, or related products or services in accordance with the applicable terms. We will not impose any fee to process the withdrawal of your consent to receive electronic Communications. Any withdrawal of your consent to receive electronic Communications will be effective only after we have had a reasonable period of time to process your withdrawal. While we process your withdrawal, you may continue to receive Communications in electronic form. If you withdraw your consent, the legal validity and enforceability of prior Communications delivered in electronic form will not be affected.
4. How to Update Your Records. It is your responsibility to provide us with a true, accurate, and complete e-mail address, contact information, and other information related to this Agreement, your Card, your Float account, and your access to the Float platform or related products or services, and to promptly maintain and update any changes to this information. You can update your information, including your e-mail address, by emailing support@floatfinancial.com or by calling 1-833-944-3175.
5. System Requirements. To receive, access, or retain electronic Communications, you will need a computer, smartphone, or other device with internet access, a compatible web browser, and, for some types of Communications, a PDF file reader. Compatible browsers include the most current version, and typically one or more prior versions, of major browsers in widespread use. You will also need access to a printer or the ability to download, save, or otherwise retain information to keep copies for your records. When you agree to receive electronic Communications, you are indicating that you have the capability to access the Communications electronically and to download, save, or print copies for your records.
6. Requesting Paper Copies. We will not send you a paper copy of any Communication unless you request a paper copy or we otherwise deem it appropriate to do so. You can obtain a paper copy of an electronic Communication by printing it yourself. We reserve the right, but assume no obligation except where required by applicable law, to provide a paper (instead of electronic) copy of any Communication that you have authorized us to provide electronically.
7. Communications in Writing. All Communications in either electronic or paper format from us to you will be considered “in writing.” You should print, download, save, or otherwise retain for your records a copy of this Agreement and any other Communication that is important to you.
8. Communications from You. This Agreement applies only to Communications you receive from us. Any notices or communications which you are required to send to us in writing, whether pursuant to our agreements with you or under applicable law, must still be sent in accordance with the instructions in those agreements.
9. Termination/Changes. We reserve the right, in our sole discretion, to discontinue the provision of your electronic Communications, or to terminate or change the terms and conditions on which we provide electronic Communications. We will provide you with notice of any such termination or change as required by applicable law.
This Consent to Use of Electronic Signatures, Communications, and Statements is provided by Float Financial Solutions US Inc. (“Float”) on behalf of Thread Bank (“Bank”, “we”, “us”, and “our”, including our successors, affiliates, or assignees).
1. Introduction. You must consent to transact business through electronic communications in order for us to process your loan request. The following terms and conditions govern electronic communications in connection with your Credit Card Application and Cardholder Agreement (if your application is approved), and any communications regarding your Account (as defined in the Cardholder Agreement) (the “Electronic Consent”). Once you have given your consent, we may deliver or make any of the documents or Communications (as defined below) available to you by posting them in the Platform App and sending you an email notification when they become available.
2. Your Legal Rights. Certain laws require us to provide specific information to you in writing, which means you have a right to receive that information on paper. We may provide such information to you electronically if we first obtain your consent to receive the information electronically. Your consent will also apply to any other person named on your accounts, product or service, subject to applicable law.
3. Your Consent to Electronic Signatures. By accepting this Electronic Consent, you understand that: (i) electronically signing and submitting any document(s) to us legally binds you in the same manner as if you had signed in a non-electronic form, and (ii) the electronically-stored copy of your signature, any written instruction or authorization and any other document provided to you by us is considered to be a true, accurate and complete record, and legally enforceable in any proceeding to the same extent as if such documents were originally generated and maintained in printed form. By accepting this Electronic Consent, you also acknowledge and agree that you have read, understand and agree to all the terms of this Electronic Consent, can access the Communications in electronic form, affirmatively consent to the use of electronic signatures and electronic records, and have an active email account. You agree not to contest the admissibility or enforceability of our electronically stored copy of this Electronic Consent and any other documents.
4. Your Consent to Electronic Communications. To the fullest extent permitted by law, this Electronic Consent, notices, disclosures regarding your Account, updates and changes to this Electronic Consent, or other communications (collectively referred to as “Communications”) from us to you regarding your Account with us may be provided to you electronically, and you consent and agree to receive all Communications in an electronic form. Electronic Communications may be posted on the pages within the Float Platform App and/or delivered to your email address. You may print a paper copy of or download any electronic Communication and retain it for your records. All Communications in electronic format will be considered to be “in writing,” and to have been received on the day of posting, whether or not you have received or retrieved the Communication. We reserve the right to provide Communications in paper format. You may withdraw your consent to electronic Communications by contacting Float (“Platform”). A withdrawal of your consent will not become effective until we have received and have had a reasonable period of time to implement it. A withdrawal of your consent does not affect the legal effectiveness, validity or enforceability of any transactions, electronic signatures or electronic records of any Communication entered into, provided or made available before that withdrawal becomes effective. Your consent to receive Communications electronically is valid until your revocation of consent becomes effective. If you revoke your consent to receive Communications electronically, Platform will terminate your right to use the Platform App and we may terminate your account. You accept all liability for any losses, cost, damages and expenses resulting from such termination to the extent permitted by law.
5. Your Review of Communications. Please review promptly all Communications we deliver or make available to you. If Communications are mailed to you, they will be delivered to you at the postal address shown in our records. If Communications are sent to you electronically, they will be delivered to you at the email address shown in our records or made available to you on the Platform App. We will retain printable versions of your account statements for seven (7) years or longer periods as may be required by applicable law. You agree to give us and Float notice of any change of your postal or email address. If you fail to update or change an incorrect email address or other contact information, you understand and agree that any Communication shall nevertheless be deemed to have been provided to you if it was made available to you in electronic form in the Platform App or you were provided email notification of its availability.
6. Hardware and Software Requirements. To access and retain electronic records of the Communications, you must use computer hardware and software that meets the following requirements: a Current Version (defined below) of an Internet browser we support; a connection to the Internet; a Current Version of a program that reads and displays PDF files (such as Adobe Acrobat Reader); and a computer or mobile device or other electronic device with an operating system capable of supporting all of the above. By “Current Version,” we mean a version of the software that we support and that is currently being supported by its publisher. To print or download electronic records of Communications, you must have a connected printer or sufficient space on a long-term storage device.
Last Updated (Master Terms): January 9, 2026
These Float Unified Payments Experience Terms (the “Master Terms”) govern your access to and use of Float Financial Solutions Inc.’s (“Float,” “we,” “us,” “our”) unified payments functionality made available through the Float platform (the “Unified Payments Experience”).
The Unified Payments Experience enables eligible business customers to initiate different types of payments through a single product experience, using multiple regulated payment partners and payment rails.
These Master Terms form part of a binding agreement between Float and the business entity using the Unified Payments Experience (“you,” “Customer”). The Unified Payments Experience is available solely for business purposes and not for personal, family, or household use.
By using any payment service within the Unified Payments Experience, you agree to be bound by:
1. STRUCTURE OF THESE TERMS
The Unified Payments Experience is governed by:
The Unified Payments Experience includes multiple payment services, each governed by its own standalone Service Schedule, as follows:
2. ORDER OF PRECEDENCE
If there is any conflict or inconsistency between:
The Service Schedule governs solely with respect to the applicable payment service.
Each Service Schedule is independent. Updates to one Service Schedule do not amend or affect:
3. RELATIONSHIP STRUCTURE
Your contractual relationship for the Unified Payments Experience is with Float Financial Solutions inc. (Float), except where a Service Schedule expressly provides that you also maintain an account or contractual relationship with a third-party service provider.
Float provides access to the Unified Payments Experience and transmits your payment instructions to the applicable payment partners. Each payment partner operates under its own regulatory obligations, network rules, and internal compliance requirements.
Except where required by applicable law, Float does not act as a fiduciary, escrow agent, trustee, or financial advisor in connection with the Unified Payments Experience.
4. AUTHORIZATION & PAYMENT INSTRUCTION
By submitting a payment request through the Float platform, you authorize Float to:
5. ACCURACY OF INFORMATION
You are solely responsible for ensuring that all payment information you provide is accurate, complete, and valid, including recipient details, routing information, account numbers, amounts, and references.
Float is not responsible for losses, delays, rejected payments, or misdirected transactions resulting from inaccurate or incomplete information provided by you or your authorized users.
6. BEST-EFFORTS EXECUTION
All payments are processed on a best-efforts basis only. Processing times are estimates and are not guaranteed. Payments may be delayed, rejected, blocked, returned, reversed, or otherwise not completed due to legal, regulatory, operational, compliance, fraud, security, or network-related reasons, or due to actions or omissions of third-party institutions.
7. COMPLIANCE, SCREENING & MONITORING
Float performs its own know-your-business (KYB), know-your-customer (KYC), and transaction monitoring activities in accordance with applicable law.
Float’s payment partners may conduct their own independent screening and monitoring, and may delay, block, reject, freeze, return reverse, or report transactions, or request additional information, to meet their legal and regulatory obligations.
8. DATA SHARING AND CROSS-BORDER PROCESSING
To provide the Unified Payments Experience, Float may collect, use, and share business, customer, transaction, and compliance information with payment partners and service providers.
Some processing or storage of information may occur outside Canada, including in the United States or other jurisdictions, depending on the applicable payment rail. Float uses contractual and organizational safeguards designed to support compliance with applicable privacy laws.
9. SUSPENSION & AVAILABILITY
Float may suspend, limit, or terminate access to the Unified Payments Experience, in whole or in part, where reasonably necessary to comply with applicable law, sanctions requirements, payment network rules, fraud prevention controls, or risk-management obligations.
Payment partners may also take such actions independently under their own rules and obligations.
10. QUESTIONS & SUPPORT
For questions regarding the Unified Payments Experience, contact Float Support at support@floatfinancial.com.
(J.P. Morgan)
Last Updated: January 9, 2026
TABLE OF CONTENTS
These Float CAD Transfers (EFT) Terms (the “Terms”) govern your access to and use of Float Financial Solutions Inc.’s (“Float,” “we,” “us,” or “our”) Canadian domestic electronic funds transfer services (the “CAD Transfers Service”).
These Terms form a standalone agreement between Float and the business entity using the CAD Transfers Service (“you” or “Customer”). The CAD Transfers Service is available only to businesses established in Canada and may be used solely for business purposes.
By using the CAD Transfers Service, you agree to be bound by these Terms.
1. THE CAD TRANSFERS SERVICE
The CAD Transfers Service enables you to initiate Canadian-dollar electronic funds transfers within Canada (including, where available, Payments Canada electronic funds transfers “EFTs”) to third-party recipients, including vendors, employees, or other counterparties, based on payment instructions you submit through Float.
Float provides the CAD Transfers Service through one or more third-party financial institutions and service providers, including JPMorgan Chase Bank, N.A., Toronto Branch and/or its affiliates (“J.P. Morgan”), and other intermediaries that participate in Canadian clearing and settlement systems.
Certain components of the CAD Transfers Service, including transaction processing, screening, settlement, fraud controls, and related operational functions, are performed by J.P. Morgan and other intermediaries under their own regulatory obligations, network rules, and internal policies.
2. RELATIONSHIP STRUCTURE
Your contractual relationship for the CAD Transfers Service is with Float. Float is responsible for providing access to the CAD Transfers Service, receiving and transmitting your payment instructions, and providing customer support and service communications.
Your use of other Float products, services, or accounts, and any funds you hold with or through Float in connection with those other products or services, may be governed by separate agreements with Float and/or third-party partners (including, where applicable, agreements relating to non-CAD payment services).
These Terms apply only to the CAD Transfers Service and do not govern, amend, or replace any other Float products, services, or agreements unless expressly stated.
Except where funds are required by applicable law to be safeguarded or held in trust prior to execution, Float does not act as a fiduciary, escrow agent, trustee, or financial advisor in connection with the CAD Transfers Service.
3. PAYMENT INSTRUCTIONS AND EXECUTION
By submitting a payment request through Float, you authorize Float to transmit your payment instructions and related transaction information to J.P. Morgan, Payments Canada participants, and other intermediaries as necessary to process the transaction.
You further authorize Float and its service providers to take actions reasonably necessary to process, screen, settle, return, or investigate transactions, including actions required by payment network rules, clearing system rules, or applicable law.
You are solely responsible for ensuring that all payment information is accurate and complete, including the recipient name, account details, transit/institution numbers (or other routing information), amounts, references, and any other information required to execute the payment.
Neither Float nor J.P. Morgan is responsible for delays, losses, rejected payments, misdirected payments, or failed transactions resulting from inaccurate, incomplete, or inconsistent information provided by you or your authorized users.
Payments are processed on a best-efforts basis and are subject to:
Execution times and availability of funds are estimates only and are not guaranteed.
Float may publish general information regarding cut-off times and estimated processing timelines through the Float platform, Help Centre, or customer communications. Any such information is indicative only and may change.
Payments submitted after applicable cut-off times, on weekends, or on bank or payment-network holidays may be processed on the next applicable business day. Business days may be determined by reference to Canadian federal banking holidays and the holiday calendars observed by J.P. Morgan, Payments Canada participants, and other intermediaries or local clearing systems.
Float is not responsible for delays caused by third-party financial institutions, payment networks, holidays, force majeure events, or circumstances beyond Float’s reasonable control.
Unless otherwise expressly agreed in writing, the CAD Transfers Service is funded through:
Float will not debit (“pull”) funds from your external bank account to fund CAD Transfers Service transactions unless you have expressly authorized such debits under a separate agreement or authorization (for example, a PAD authorization or other bank debit authorization, if applicable).
Where permitted by applicable law, Float may debit your Float balance or other funds held for your benefit to recover amounts owed in connection with the CAD Transfers Service, including returns, reversals, fees assessed by third parties, or other amounts arising from your payment instructions or use of the CAD Transfers Service.
Float conducts its own know-your-business (KYB) and know-your-customer (KYC) checks and ongoing monitoring in connection with the CAD Transfers Service, in accordance with applicable law and Float’s compliance obligations.
You agree to provide accurate, complete, and up-to-date information when reasonably requested.
To provide the CAD Transfers Service, Float may share relevant customer, beneficial ownership, and transaction information with J.P. Morgan and other service providers.
J.P. Morgan and other intermediaries may conduct their own independent screening and monitoring (including sanctions, watchlist screening, and transaction monitoring) pursuant to their legal and regulatory obligations and internal compliance requirements.
J.P. Morgan does not rely on Float’s compliance checks and may independently delay, block, reject, freeze, return, reverse, or report any transaction, or impose additional information requirements, where required by applicable law, regulation, or regulatory guidance.
You must not use the CAD Transfers Service for any activity that is prohibited or restricted under applicable law, payment network rules, sanctions requirements, or Float’s policies (as updated from time to time), including activities that pose heightened legal, regulatory, financial crime, or reputational risk.
Float maintains additional information regarding prohibited and restricted activities in its Help Centre and related policy documentation, which may be updated from time to time. You are responsible for reviewing and complying with those requirements.
Float and its service providers may refuse to process, suspend, block, reverse, delay, or investigate any transaction, or suspend or terminate your access to the CAD Transfers Service, where such action is reasonably necessary to comply with applicable law, payment network rules, sanctions requirements, or internal risk and compliance policies.
6. Data Sharing and Privacy
To provide the CAD Transfers Service, Float may collect, use, and share information with J.P. Morgan and other service providers, including:
Some service providers may process or store information outside Canada, including in the United States or other jurisdictions. Where cross-border processing occurs, Float uses contractual and organizational safeguards designed to support compliance with applicable Canadian privacy laws.
Once a payment has been submitted for processing, cancellation, amendment, or recovery may not be possible.
Float will use commercially reasonable efforts to assist with recalls, amendments, investigations, or inquiries, but all such assistance is provided on a best-efforts basis only and depends on third-party financial institutions, clearing systems, and counterparties. Recovery of funds is not guaranteed.
Dispute rights and outcomes are determined by applicable clearing and payment network rules and the policies of participating financial institutions. Float is not responsible for disputes between you and a payment recipient, intermediary, or receiving institution and does not guarantee resolution in your favour.
Float and its service providers maintain administrative, technical, and physical safeguards designed to protect information and reduce the risk of unauthorized access, fraud, or misuse.
Float may suspend, limit, or terminate access to the CAD Transfers Service, in whole or in part, without prior notice where reasonably necessary to comply with law, regulation, sanctions requirements, fraud prevention controls, payment network rules, or risk-management obligations.
10. Governing Law
These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict-of-laws principles.
If you have questions about the CAD Transfers Service or these Terms, please contact Float Support at support@floatfinancial.com.
(Thread Bank)
Last Updated: January 9, 2026
IMPORTANT – PLEASE READ CAREFULLY. THIS AGREEMENT (AS DEFINED BELOW) CONTAINS AN ARBITRATION PROVISION REQUIRING ALL CLAIMS TO BE RESOLVED BY WAY OF BINDING ARBITRATION.
TABLE OF CONTENTS
Float Financial Solutions (“Platform”) is providing this Commercial Deposit Account Agreement (this “Agreement”) to you on behalf of Thread Bank (“Bank”), a member of the Federal Deposit Insurance Corporation (“FDIC”). Bank is the provider of the commercial deposit account (the “Account”). If enabled for your Account, Bank may also issue a debit card (the “Card”) pursuant to a license from Mastercard International Incorporated.
As used in this Agreement, the words “we,” “our,” and “us” refer to Bank, its successors, affiliates, or assignees. The words “you” and “your” refer to the business entity that opens the Account and agrees to be bound by this Agreement, as well as any Authorized Representatives or other persons you authorize to access the Account, initiate transactions, or otherwise exercise control over funds in the Account through the Platform.
Access to your Account and the services offered under this Agreement will be provided through the Platform App unless we notify you otherwise. YOU UNDERSTAND THAT BY OPENING AN ACCOUNT THROUGH THE PLATFORM APP, YOU AUTHORIZE BANK TO ACCEPT ALL INSTRUCTIONS PROVIDED TO BANK BY PLATFORM ON YOUR BEHALF.
PROGRAM ROLES; PLATFORM AND PROGRAM MANAGER INSTRUCTIONS
Float Financial Solutions (“Platform”) provides the primary user interface through which you access the Account and submit payment, transfer, and administrative instructions. Synctera Inc. (“Program Manager”) acts as a technology and program management service provider supporting Thread Bank (the “Bank”) in connection with the provision of the Account and related services. In certain circumstances, the Program Manager may also provide platform, technical, or operational interfaces through which Account instructions are transmitted.
All instructions relating to the Account must be submitted through the Platform and/or systems made available by the Program Manager, and any such instructions are deemed to be authorized by you. The Bank may rely on instructions transmitted by the Platform or the Program Manager on your behalf, without independently verifying the accuracy, completeness, or authorization of such instructions, except as required by applicable law.
You acknowledge and agree that the Platform and the Program Manager act as service providers to the Bank and are not banks or depository institutions. The Bank is not responsible for the availability, performance, or operation of the Platform or the Program Manager’s systems, or for any interruption, error, or delay caused by the Platform, the Program Manager, or any third-party service providers they use, except to the extent required by applicable law. Unless expressly stated otherwise in writing by the Bank, the Account is a non-interest-bearing commercial deposit account.
ACCOUNT OPENING DISCLOSURES
Introduction. In order to apply for an Account, you must consent to the use of electronic signatures and electronic records for all transactions with us and for all agreements, disclosures, notices, and other Communications (as defined below) relating to those transactions. Once you have given your consent, we may deliver or make any of the documents or Communications available to you by posting them in the Platform App and sending you an email notification when they become available.
Your Legal Rights. Certain laws require us to provide specific information to you in writing, which means you have a right to receive that information on paper. We may provide such information to you electronically if we first obtain your consent to receive the information electronically. Your consent will also apply to any other person named on your Account, product, or service, subject to applicable law.
Your Consent to Electronic Signatures. By accepting this Agreement, you understand that: (i) electronically signing and submitting any document(s) to Bank legally binds you in the same manner as if you had signed in a non-electronic form, and (ii) the electronically-stored copy of your signature, any written instruction or authorization, and any other document provided to you by Bank is considered to be a true, accurate, and complete record, and legally enforceable in any proceeding to the same extent as if such documents were originally generated and maintained in printed form. By accepting this Agreement, you also acknowledge and agree that you have read, understand, and agree to all the terms of this Section, can access the Communications in electronic form, affirmatively consent to the use of electronic signatures and electronic records, and have an active email account. You agree not to contest the admissibility or enforceability of Bank’s electronically stored copy of this Agreement and any other documents.
Your Consent to Electronic Communications. To the fullest extent permitted by law, this Agreement, account statements, notices, legal and rate disclosures for your Account, updates and changes to this Agreement, or other service agreements and other communications (collectively, “Communications”) from us to you regarding your Account(s) and related services with us may be provided to you electronically, and you consent and agree to receive all those Communications in electronic form. Electronic Communications may be posted in the Platform App and/or delivered to your email address. You may print or download any electronic Communication and retain it for your records. All Communications in electronic format will be considered to be “in writing,” and to have been received on the day of posting, whether or not you have received or retrieved the Communication. We reserve the right to provide Communications in paper format.
Withdrawal of Consent. You may withdraw your consent to receive Communications electronically by contacting us. Any withdrawal of consent will not become effective until we have received your request and have had a reasonable period of time, consistent with applicable law and operational requirements, to implement it. Withdrawal of your consent will not affect the legal effectiveness, validity, or enforceability of any transaction, electronic signature, or electronic record provided or made available before the withdrawal becomes effective. If electronic delivery of Communications is required in order to provide the Platform App, the Account, or related services, then withdrawal of your consent may result in the suspension or termination of your access to the Platform App or the Account, upon any notice required by applicable law. To the extent permitted by applicable law, neither Bank nor Platform will be liable for any losses, costs, or damages resulting from such suspension or termination, except to the extent caused by Bank’s or Platform’s gross negligence or willful misconduct.
Your Review of Communications. Please review promptly all Communications we deliver or make available to you. If Communications are mailed to you, they will be delivered to you at the postal address shown in our records. If Communications are sent to you electronically, they will be delivered to you at the email address shown in our records or otherwise made available to you in the Platform App. We will retain printable versions of your Account statements for seven (7) years or longer periods as may be required by applicable law. You agree to give us and Platform prompt notice of any change of your postal or email address. If you fail to update or change an incorrect email address or other contact information, you understand and agree that any Communication shall nevertheless be deemed to have been provided to you if it was made available to you in electronic form in the Platform App or you were provided email notification of its availability.
Reporting to You (Statements); Errors and Disputes. Statements will be made available to you to view and/or print in the Platform App (if available). Account statements will be considered to be correct unless you notify us, through Platform, of any errors within sixty (60) days of becoming available. Carefully review your statement each statement cycle and notify us of any errors within sixty (60) days of your statement becoming available. Bank will not be liable to you for any error that you do not report to Bank within that period. If you think your statement is wrong or if you need more information about a transaction listed on it, please contact Platform at the customer service contact information set forth in this Agreement. In making such communication, you need to tell us: (i) your name and Account number; (ii) why you believe there is an error and the dollar amount involved; and (iii) approximately when the error took place.
Hardware and Software Requirements. To access and retain electronic records of the Communications, you must use computer hardware and software that meets the following requirements: a current version of an Internet browser we support; a connection to the Internet; a current version of a program that reads and displays PDF files (such as Adobe Acrobat Reader); and a computer or mobile device with an operating system capable of supporting all of the above. To print or download electronic records of Communications, you must have a connected printer or sufficient space on a long-term storage device.
Eligibility. The Account is available solely to legal entities duly organized, validly existing, and in good standing under the laws of Canada or the United States, including corporations, partnerships, and other eligible business organizations, that possess a valid business identification number (such as a Canadian Business Number or U.S. Employer Identification Number), where applicable, and that will use the Account exclusively for business purposes and not for personal, family, or household use.
The Account and related services are provided through U.S. banking infrastructure and payment rails. As a result, certain transactions, processing activities, recordkeeping, compliance reviews, and settlement functions may occur in the United States, even where the Account holder or Authorized Representatives are located in Canada. You acknowledge and agree that transaction processing may be subject to U.S. laws, regulations, and oversight applicable to U.S. financial institutions, in addition to any applicable Canadian legal or regulatory requirements.
You must consent to receive electronic communications and records in lieu of paper statements as a condition of accessing the Account. If you subsequently withdraw your consent and electronic delivery is required to provide the Account or related services, we reserve the right to suspend or close your Account upon any notice required by applicable law.
Authorized Representatives. “Authorized Representatives” are persons with authority to act on your behalf. You may appoint Authorized Representatives only by following the Platform’s procedures for doing so. You are responsible for keeping your Authorized Representatives current in the Platform.
Unless a restriction that we have acknowledged in writing is specifically stated in your authorizing resolution, each Authorized Representative may act alone to give instructions with respect to your Account. Bank may rely on Platform procedures and records to authenticate Authorized Representatives and to act on instructions submitted through the Platform, provided Bank acts in good faith and without actual knowledge of any limitation. The authority of each Authorized Representative remains in effect until we receive notice through Platform and have a reasonable opportunity to act on such notice.
Important Information About Procedures for Opening a New Account. To help the government fight terrorism financing, money laundering, and other financial crimes, applicable law requires financial institutions to obtain, verify, and record information sufficient to identify each customer that opens an account. When an Account is opened by a legal entity, we are required to obtain, verify, and record information regarding the legal entity and, as applicable, its beneficial owners and individuals who exercise control over the legal entity, in accordance with applicable U.S. and Canadian laws and regulations. This may include collecting beneficial owner information where applicable and, where no beneficial owner is identified, collecting a control person (such as a director, senior officer, or equivalent), as required by applicable law.
Account. The Account consists of a checking account used to hold deposits and make payments and transfers to and from the Account. You will access your Account through the Platform App.
Password Security. You are responsible for maintaining adequate security and control of all user IDs, passwords, PINs, and other access credentials used to access the Account. If you permit any other person(s), including any data aggregation service providers, to access or use your access credentials, you are responsible for any transactions and activities performed from your Account and for any use of your information by such person(s). Do not discuss, compare, or share information about your account number or password unless you are willing to give them full use of your money. Any loss or compromise of the foregoing information may result in unauthorized access to your Account by third parties and the loss or theft of funds. To the extent permitted by applicable law, we assume no responsibility for any loss you may sustain due to compromise of your credentials due to no fault of Bank.
Payment Instructions; Platform as Service Channel. All instructions to initiate payments, transfers, withdrawals, or other transactions with respect to the Account (collectively, “Payment Instructions”) must be submitted through the Platform using the workflows and features made available by the Platform and/or Program Manager. You authorize Bank to rely on, act upon, and treat all Payment Instructions transmitted by Platform (and, where applicable, Program Manager) on your behalf as authorized instructions from you, without independent verification, except as required by applicable law.
Platform, Program Manager, or Bank may refuse, delay, suspend, or reject any Payment Instruction where necessary or appropriate to comply with applicable law or regulation, payment network or clearing system rules, sanctions requirements, fraud prevention controls, security requirements, or risk management or operational requirements.
You are solely responsible for the accuracy, completeness, and correctness of all payment information, including payee details, amounts, and timing, submitted through the Platform. Neither Bank, Platform, nor Program Manager is responsible for losses resulting from incorrect or incomplete Payment Instructions submitted by you or on your behalf, except to the extent caused by such party’s gross negligence or willful misconduct or as otherwise required by applicable law.
Fee Disclosure. Except as set forth in the Fee Schedule, you are not required to pay Bank any fees in connection with this Account. Platform may charge additional fees for services provided to you under your agreement with Platform, and any applicable fees will be disclosed to you through the Platform prior to being charged.
Location of the Account. Your Account is established in the State of Delaware.
Prohibited Use; Illegal and Restricted Transactions. You agree not to use your Account, Card, or any services provided under this Agreement for any purpose that is prohibited by applicable law, regulation, card network rules, or by the Platform’s prohibited or restricted use policies applicable to this product, as such policies may be amended from time to time (the “Prohibited Use Policy”). You acknowledge and agree that, while the Platform may monitor, review, screen, or evaluate transactions and Account activity for compliance with this Agreement, the Prohibited Use Policy, and applicable law, neither the Platform nor the Bank is obligated to do so, and the failure to identify or prevent any prohibited or unlawful transaction shall not constitute a waiver or give rise to any liability.
You are solely responsible for ensuring that your use of the Account, Card, and services complies with this Agreement, the Prohibited Use Policy, and all applicable laws and regulations. The Platform and/or the Bank may, in their sole discretion and to the fullest extent permitted by law, refuse to process, block, reverse, delay, or investigate any transaction, or suspend or terminate your Account or access to services, if they determine that such transaction or activity may violate this Agreement, the Prohibited Use Policy, or applicable law.
Any use of the Account, Card, or services for a prohibited or restricted purpose shall constitute a material breach of this Agreement. In such event, the Platform and/or the Bank may terminate this Agreement, close your Account, and take any other action permitted by law. You agree to indemnify and hold the Platform and the Bank harmless from and against any claims, losses, liabilities, damages, costs, or expenses arising directly or indirectly from your prohibited or unlawful use of the Account, Card, or services.
To the fullest extent permitted by law, you agree to pay for, and remain responsible for, all transactions that you authorized or permitted, even if such transactions are later determined to be prohibited, restricted, or illegal.
Freezes, Blocking, or Closing Accounts Due to Irregular or Unlawful Activities. You agree that if Bank, Platform, or Program Manager reasonably suspects or determines that any irregular, unauthorized, suspicious, fraudulent, or unlawful activity may be occurring in connection with your Account or related services, it may, in its discretion, restrict transactions, place a hold on funds, suspend access, or “freeze” the Account, in whole or in part, while it conducts an investigation or takes other action as required or permitted by applicable law. If Bank places a hold on or freezes your Account, Bank will provide any notice required under applicable law, which may be delivered through Platform unless prohibited or delayed by law, regulation, court order, or law enforcement request.
You acknowledge and agree that Bank, Platform, or Program Manager may take such actions as necessary to comply with applicable anti-money laundering, counter-terrorist financing, sanctions, fraud prevention, or similar laws and regulations, including, without limitation, regulations and directives issued by the United States Department of the Treasury, including the Office of Foreign Assets Control (“OFAC”) and the Financial Crimes Enforcement Network (“FinCEN”), and applicable Canadian authorities, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“PCMLTFA”) and regulations administered by the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”).
You understand and agree that Bank, Platform, and Program Manager shall not be liable for any losses, delays, or inability to access funds resulting from any action taken in good faith pursuant to this section, except to the extent caused by such party’s gross negligence or willful misconduct, and to the extent liability cannot be excluded under applicable law.
Deposits to the Account. You may fund or deposit funds into the Account solely through your Float account or through a payment connection established and approved through the Platform, in each case if enabled and made available by the Platform. You acknowledge and agree that funds will be transferred from your Float balance or through a payment connection established and approved through the Platform only when you submit a valid payment or transfer instruction through the Platform, and that the timing and availability of such funds depend on the funding source, settlement timing, payment method, and applicable network, banking, or regulatory requirements. Availability of funds may therefore differ from the time a Float balance is reflected in the Platform.
No Deposits in Cash, Paper Checks, or Foreign Currency. Bank will only accept funds deposited electronically through Platform using supported electronic payment methods made available to you. We are not liable for any deposits lost in the mail, lost in transit, or not received by us. We do not accept (i) deposits in cash, cashier’s checks, or money orders, (ii) deposits of any type of check via mail, or (iii) foreign currency. If we receive any such instruments, we may return the item to the address we have on file for you, or otherwise handle the item as required by applicable law, and we will not be responsible for any loss associated with such handling.
Our Right to Charge Back Deposited Items or Electronic Transfers. If you receive an electronic transfer as provided in this Agreement and (i) the paying bank returns it to us unpaid; (ii) the paying bank or sender demands that we repay it because it was altered, forged, unauthorized, or otherwise improper; or (iii) the sending bank or originator demands that we return the item because it was unauthorized, sent to the wrong account number, or procured by fraud, we may pay the return or demand and subtract the funds from your Account, even if the balance in your Account is not sufficient to cover the amount we subtract, causing a negative balance. If we have reason to believe that any of the foregoing may occur, we may place a hold on the funds until we determine who is entitled to them.
Right to Reject Any Deposit. We may refuse any deposit, with or without cause, and may restrict access to any deposit credited to your Account that violates applicable law or sanctions requirements.
Withdrawal Methods and Limits. You can make withdrawals from your Account using any of these methods (if enabled by the Platform):
The limits included here are the highest limits allowed for transactions. However, we reserve the right to allow you to transact higher volume than the limits defined herein at any time without prior notice. In certain cases, for security reasons, we may lower your limits upon notice to you at the time you attempt to initiate a transaction.
Transaction Limits; Risk Adjustments. All transaction limits described in this Agreement are limits per Account, unless otherwise specified. Transaction limits are established to manage operational, security, compliance, and risk considerations and may be applied differently based on transaction type, payment method, or funding source. We may, in our discretion, reduce, restrict, or temporarily suspend applicable transaction limits at any time where we determine such action is reasonably necessary to address risk, security concerns, compliance obligations, payment network requirements, or suspected unauthorized or suspicious activity. Any such adjustment may be applied without prior notice and may be communicated to you at or around the time you attempt to initiate a transaction, to the extent permitted by applicable law.
Vendor Payments; Bill Pay. If enabled by the Platform, you may instruct the Platform to initiate payments from your Account to third-party vendors, service providers, or other payees (each, a “Vendor Payment”), including through bill payment or accounts-payable workflows made available through the Platform. All Vendor Payments are initiated solely based on the payment instructions you submit through the Platform.
You are solely responsible for the accuracy, completeness, and validity of all Vendor Payment information you provide, including the payee name, routing number, account number, payment amount, and payment timing. Neither the Bank nor the Platform is responsible for payments sent to an incorrect or unintended payee due to inaccurate or incomplete information provided by you.
Once a Vendor Payment has been submitted for processing, cancellation or recovery may not be possible. Any attempt to cancel, stop, or recover a Vendor Payment will be made on a best-efforts basis only and is subject to processing deadlines, payment network rules, and the cooperation of receiving financial institutions or payees. Neither the Bank nor the Platform guarantees that a Vendor Payment can be stopped, reversed, or recovered once processing has begun.
Vendor Payments may be rejected, returned, delayed, or reversed for reasons including insufficient funds, invalid payee information, compliance or risk reviews, payment network rules, or actions of third-party financial institutions or payees. Your responsibility for returned or rejected payments, including applicable fees, is described elsewhere in this Agreement.
Overdrafts. You are not permitted to overdraw your Account. If the available balance in your Account is insufficient to cover a payment or withdrawal you have authorized, we may refuse to process it. We do not charge overdraft fees. A negative balance may occur in limited circumstances, including as a result of adjustments, returns, reversals, or fees charged in accordance with this Agreement. If your Account balance becomes negative, you are required to promptly restore it to a non-negative balance.
If a negative balance remains outstanding for an extended period, including thirty (30) calendar days or more, we reserve the right to take appropriate action as permitted by applicable law, which may include suspension of services, closure of the Account, or referral to collections. If an Account is referred for collection, you agree to pay all reasonable costs of collection, including reasonable attorneys’ fees and court costs, to the extent permitted by law.
Notice of Furnishing Negative Information. At this time, neither Bank nor Platform reports information regarding your Account to consumer or business credit bureaus. However, Bank or Platform reserves the right to furnish information about your Account to credit reporting agencies in the future, to the extent permitted by applicable law and upon providing any notice required by law.
Availability. We make funds available according to the type of deposit and when the funds are applied or credited to your Account. Some types of deposits may not be available for immediate use. When we delay the availability of funds or place a hold on a deposit made to your Account, you may not withdraw those funds, and we will not use them to pay any debits, such as ACH transfers or payments. If any direct deposit, ACH transfer, or other transfer for which you have received credit is not paid for any reason, you agree to pay us the amount for which you have received credit. The length of the delay in the availability of funds will vary depending on the type of deposit.
Business Days. The length of the delay in the availability of funds is counted in business days from the day your deposit is applied to your Account. For purposes of these disclosures, a “Business Day” means Monday through Friday, excluding applicable bank holidays. For transactions funded from your Float balance, Business Days are determined based on U.S. federal banking holidays. For transactions funded through an external payment connection, Business Days may be determined based on the holidays observed by the applicable financial institutions involved, which may include U.S. and/or Canadian banking holidays, depending on the source of funds and payment routing. Deposits or payment instructions received after applicable cut-off times or on a day that is not a Business Day will be processed on the next applicable Business Day.
How Transactions Are Posted to Your Account. There are two types of transactions that affect your Account: credits (deposits of money into your Account) and debits (payments out of your Account). It is important to understand how each is applied to your Account so that you know how much money you have and how much is available to you at any given time. This Section explains generally how and when we post transactions to your Account. If we change these practices, we will provide you notice in accordance with this Agreement.
Credits. Deposits are generally credited to your Account when received and accepted by the Bank. However, in some cases, when you deposit funds, all or a portion of the deposit may be subject to holds, delays, or availability restrictions and may not be available for withdrawal or use at the time of deposit. Such holds or delays may occur for reasons including, without limitation, processing timeframes, verification requirements, return risk, regulatory or compliance reviews, or other risk-management considerations, as permitted by applicable law. Funds credited to your Account remain subject to adjustment, reversal, or return if the deposit is rejected, returned, reversed, or otherwise not finally settled, and the Bank, Program Manager, or Platform may debit your Account for any such amounts.
Debits. There are several types of debit transactions that may be processed against the Account. Debit transactions may be presented for payment through various payment systems and clearing channels, and we do not control the timing or order in which such transactions are received.
Automated Clearing House (ACH) Transactions. We receive ACH transaction files each business day, Monday through Friday, excluding recognized federal holidays. For ACH transactions received at the same time, including transactions included in the same data file, ACH credit transactions are generally posted before ACH debit transactions, in the order received by us. ACH transactions may be posted to the Account throughout the business day. We may process debit transactions throughout the day as they are received and in accordance with applicable laws, regulations, and payment network rules. We may change our posting practices at any time, subject to applicable law. The timing of posting may affect the availability of funds and the order in which transactions are paid. Posting order does not affect our right to return, reject, or decline any transaction.
Electronic Transfers via ACH. If enabled by Platform, you may originate transfers to and from your Account via ACH as provided in this Agreement. These requests must be made via the Platform. By submitting an ACH transfer request through the Platform, you authorize the Bank and the Platform to originate and process ACH entries on your behalf in accordance with applicable law and ACH network rules. In the case of electronic transfer requests from an external bank account to your Account, we will complete such requests only if the funds are being transferred from your linked external account. Any deposits received in any other name may be returned to the originator.
Same Day ACH; Cut-off Time. The cut-off time for scheduling same day ACH transfers (if enabled on your Account) is 12:00 p.m. Eastern Time. If enabled by Platform, Same Day ACH means that the transfer is intended to be performed on the same business day, but same-day settlement is not guaranteed and may be delayed, rejected, or returned due to operational, risk, compliance, or network-related reasons. Any same day ACH transfer scheduled after the cut-off time will be treated as if it were scheduled as a next day ACH transfer. ACH transfers are subject to settlement risk and network processing requirements, and funds credited to your Account remain subject to return, reversal, or adjustment until final settlement.
Limitations on Transfers, Amounts and Frequency. Your rights under this Agreement to make electronic funds transfers are subject to the frequency and dollar amount limits established in this Agreement.
Right to Receive Documentation of Electronic Funds Transfers. Your electronic funds transfers will be reflected on the statements that will be delivered to you through the Platform App. You can also contact Platform at the customer service contact information set forth in this Agreement to obtain information about any particular deposit or transfer.
Right to Stop Payment of Preauthorized Transfers and Procedures. If you have scheduled a one-time or a recurring ACH transfer via the Platform, you may stop or cancel that transfer by following the procedures defined here. To stop an ACH transfer that you initiated via the Platform App, either one-time or recurring, use the Platform App to cancel such payment, or contact Platform at the customer service contact information set forth in this Agreement to request cancellation of the transfer. To stop a one-time or recurring transfer that you have authorized a third party to debit from the Account, please contact that third party to request the cancellation of the payment. You also may contact Platform at the customer service contact information set forth in this Agreement to request a stop on the payment.
If you wish to contact us to stop a one-time or recurring transfer that you initiated via the Platform App or that you have authorized a third party to debit from the Account, your request to stop the transfer must be received at least three (3) Business Days before the transfer is scheduled to occur. Regarding recurring payments, you should specify whether you wish to stop one recurring payment or all recurring payments. If you do not specify, all recurring payments may be stopped. You must specify the name of the payee, the dollar amount of the payment, and the date of the payment. In the case of a recurring third-party debit authorization, you may contact us to stop one recurring payment. To stop all future payments pursuant to the third party’s recurring authorization, you must put your initial oral request (if oral) in writing and send it to us within fourteen (14) days of your initial oral request. If the written stop payment notification is not received at least fourteen (14) days before the future payment is scheduled to occur, we will honour that and all other future payments as originally authorized without liability to you.
Stop payment requests are subject to processing deadlines, ACH network rules, and operational limitations, and may not be effective if received after processing has begun. We do not guarantee that a stop payment request will be successful. Stop payment requests may be subject to fees as disclosed in the Platform App or applicable fee schedule.
Your Liability for Unauthorized Account Transactions. The Account is a commercial account and does not provide consumer-level protections for unauthorized transactions or unauthorized access. You acknowledge and agree that laws and regulations applicable to consumer accounts may not apply to the Account.
You are responsible for safeguarding all credentials, identifiers, and access mechanisms associated with the Account. If you believe that the Account number, login credentials, or any other information used to access the Account has been lost, stolen, compromised, or used without authorization, you must notify us as soon as reasonably practicable and cooperate fully with any reasonable actions we request to prevent further unauthorized activity.
Until an Authorized Representative reports an unauthorized transaction or compromised access to the Account and we have had a reasonable opportunity to prevent additional transactions, the Account owner will be fully liable for all transactions initiated and all fees incurred as a result of any unauthorized use of the Account. Failure to provide prompt notice may limit or eliminate your ability to recover funds, to the extent permitted by applicable law.
You must contact customer service immediately if you believe that: (a) Account access credentials or identifying information have been lost, stolen, or compromised; (b) any person has obtained unauthorized access to the Account; or (c) funds have been transferred or may be transferred from the Account without the permission of an Authorized Representative. Notification may be made by contacting the Platform via email support@floatfinancial.com or by logging into the Platform application. Prompt notification is the most effective way to minimize potential losses.
The Account owner is responsible for all transactions initiated and all fees incurred through use of the Account. If you or an Authorized Representative permit any other person to access the Account, such access will be deemed authorized by you, and you will be liable for all transactions and fees incurred by such person, even if such transactions exceed the scope of permission granted.
You remain responsible for all transactions and fees incurred by your Authorized Representatives, including where an Authorized Representative exceeds the authority granted to them. Transactions will be treated as unauthorized only after you notify us that a person is no longer authorized to access the Account and we have had a reasonable opportunity to prevent further transactions by that person. Except as required by applicable law or payment-network rules, we are not obligated to reverse or reimburse unauthorized transactions. Nothing in this section limits liability resulting from our gross negligence or willful misconduct.
Our Liability for Failure to Complete Transactions. We are not liable for any failure to complete a transaction involving the Account if we provide notice to you that the transaction was not completed. We are also not liable for any failed or delayed transaction if:
(a) through no fault of ours, there are insufficient available funds in the Account to cover the transaction;
(b) the payee, merchant, financial institution, or other third party refuses or is unable to accept or process the transaction;
(c) access to the Account or any linked account has been restricted, suspended, or blocked following your report of compromised access credentials or suspected unauthorized activity;
(d) the funds in the Account are subject to a hold, legal or administrative process, or other restriction or encumbrance limiting their availability or use;
(e) we have reason to believe (acting in good faith) that the requested transaction is unauthorized, fraudulent, unlawful, or in violation of this Agreement;
(f) we have received incomplete, inaccurate, or delayed information from a third-party payor, payee, financial institution, or service provider;
(g) circumstances beyond our reasonable control, including fire, flood, natural disasters, power outages, or computer, network, or communications failures, prevent or delay completion of the transaction despite reasonable precautions; or
(h) any other exception set forth in this Agreement or permitted by applicable law.
Confidentiality. We will disclose information to third parties about your Account or the transfers you make (including transactions using your Card): (i) where it is necessary for completing transfers; (ii) in order to verify the existence and condition of your Account for a third party, such as a credit bureau or merchant; (iii) in order to comply with government agency or court orders; or (iv) if you give us your written permission.
Data and Information Sharing. In connection with the opening, maintenance, monitoring, and use of the Account and related services, information relating to you, your Account, and your transactions may be collected, used, disclosed, and shared for compliance, operational, and risk-management purposes. Such information may include, without limitation: business identification and registration information; know-your-business and know-your-customer information; beneficial ownership and control person information; Authorized Representative information; payment instructions; payee, vendor, and invoice data; transaction activity; and related records.
You acknowledge and agree that such information may be shared, as necessary and permitted by applicable law, with the Bank, the Platform, any applicable program manager or intermediary (including Synctera), payment processors, payment networks, correspondent banks, deposit network or safeguarding service providers, auditors, and other service providers involved in providing, supporting, or monitoring the services. Information may also be disclosed to governmental authorities, regulators, law enforcement agencies, courts, or other third parties where required or permitted by law, regulation, subpoena, or legal process.
Such information may be used for purposes including, without limitation: customer identification and verification; sanctions and watchlist screening; anti-money laundering and counter-terrorist financing compliance; transaction monitoring; fraud prevention; responding to regulatory inquiries, requests for information, audits, examinations, or investigations; and enforcing this Agreement. Information may be processed or stored in the United States or Canada, depending on the nature of the service, transaction routing, or regulatory requirements.
ACH Services and NACHA Rules. If the Platform allows you to originate ACH transactions, your origination of such transactions is subject to additional terms and conditions set forth in this Agreement and to the NACHA Operating Rules, as in effect from time to time.
Electronic funds transfers, including ACH transfers, may be returned, rejected, reversed, or otherwise not completed for reasons including insufficient funds, invalid or incorrect payee or account information, compliance or risk reviews, payment-network rules, or actions or omissions of third-party financial institutions, payment processors, or payees. You are responsible for all fees, costs, and charges arising from or relating to returned, rejected, reversed, or failed electronic funds transfers initiated through the Platform, including, without limitation, ACH return fees, operator or network fees, and fees charged by third-party financial institutions or service providers, except to the extent such fees arise directly from the Bank’s, Platform’s, or Program Manager’s gross negligence or willful misconduct.
To the extent permitted by applicable law and regulatory requirements, the Bank may debit your Account and, where applicable, any available Float balance or other funds held for your benefit through the Platform, to recover any such fees, costs, or amounts owed in connection with returned, rejected, reversed, or failed transfers. Neither the Bank, Program Manager, nor the Platform shall be responsible for losses resulting from returned or rejected transfers where such returns or rejections are not caused by the Bank’s, Program Manager’s, or Platform’s error, gross negligence, or willful misconduct.
Capitalized terms used in this Section but not otherwise defined in this Agreement have the meanings given to them in the NACHA Operating Rules & Guidelines (the “NACHA Rules”), as adopted by NACHA and in effect from time to time.
For purposes of this Section, the term “Entry” means an ACH debit or credit entry, including any data provided by you through the Platform and used by us to prepare or initiate such Entry on your behalf. For the avoidance of doubt, transfers of funds made through wire transfer are not subject to this Section.
The ACH Origination Service enables you to initiate debit and credit Entries through the Automated Clearing House. As used in this Section, a “debit Entry” is an Entry that transfers funds from a Receiver’s account to your Account, and a “credit Entry” is an Entry that transfers funds from your Account to a Receiver’s account. You will be the Originator for, and authorize us to originate on your behalf to the Receiver’s account, each Entry you submit through the Platform. We will be the Originating Depository Financial Institution (“ODFI”) for each such Entry.
You are bound by and will comply with the NACHA Rules and all applicable laws and regulations in using the ACH Origination Service. You will not originate Entries that are unauthorized, fraudulent, unlawful, or in violation of applicable law or regulations, including economic sanctions programs administered by the Office of Foreign Assets Control (“OFAC”).
Generally, you may only submit Entries to us through the Platform using approved workflows and security procedures. You may only submit Entries of the types designated by SEC Codes approved for your Account. We may, at any time and in our discretion, prohibit you from initiating certain types of Entries through the ACH Origination Service.
You will not use a third party to submit an Entry (or a request to cancel an Entry) to us on your behalf without our prior written consent. If you use any such third party with our consent: (A) you are responsible for all acts, errors, and omissions of such third party; and (B) each reference to you in this Section includes such third party, as applicable.
We may establish and change aggregate and individual dollar limits for your Entries or types of Entries (the “Exposure Limits”). We will notify you of applicable Exposure Limits from time to time. We may elect to process an Entry that exceeds an Exposure Limit, but doing so does not obligate us to process any future Entry that exceeds an Exposure Limit.
You have no right to reverse, delete, cancel, or amend an Entry after we receive it. If you request us to reverse, delete, or cancel an Entry, and we are able to verify that request in accordance with applicable security procedures, we will use commercially reasonable efforts to effect such request, generally by issuing a reversing Entry, but we are not liable if we are unable to do so. You will indemnify and hold us harmless from all claims and losses relating to any such request or attempt.
Except as otherwise provided in this Agreement, we will: (1) process Entries received from you to conform with the file specifications set forth in the NACHA Rules; (2) transmit such Entries as the ODFI to an ACH Operator; and (3) settle for such Entries in accordance with the NACHA Rules.
ACH Entries are subject to settlement risk and network processing requirements. Credit to your Account for any Entry is provisional until final settlement is received. We may debit your Account for any Entry that is returned, reversed, adjusted, or otherwise not finally settled, including for insufficient funds or unauthorized authorization.
If Same Day ACH is enabled for your Account, the following terms apply. We will use commercially reasonable efforts to transmit Same Day Entries to an ACH Operator in accordance with applicable same-day deadlines, provided that such Entries are received by applicable cut-off times and otherwise comply with NACHA Rules. Same Day ACH settlement is not guaranteed, and Same Day Entries may be delayed, rejected, or returned for operational, risk, compliance, or network-related reasons. You may not submit a Same Day Entry that exceeds the dollar limits established under the NACHA Rules or any Exposure Limits we establish. Each Same Day Entry may be subject to a separate fee, as disclosed to you from time to time.
We may suspend processing of or reject any Entry for any reason permitted under this Agreement or the NACHA Rules, including Entries that exceed Exposure Limits, contain invalid or stale effective dates, or pose compliance, fraud, or operational risk. We are not liable for any such suspension or rejection.
We will notify you through the Platform of any Return Entry or Notification of Change (“NOC”) received. You are responsible for correcting Entries in response to NOCs within the timeframes required by the NACHA Rules. You are responsible for all fines, penalties, or assessments imposed due to your failure to correct an Entry following an NOC, and we may debit such amounts from your Account without prior notice.
You must maintain sufficient collected funds in your Account to cover all Entries you initiate. We may require pre-funding or reserves in amounts we determine necessary to manage risk. Failure to maintain required funding or reserves may result in suspension of the ACH Origination Service.
You will retain all authorizations and records relating to Entries for at least two (2) years following the termination or expiration of such authorizations and will provide copies upon our reasonable request. We may audit your compliance with this Agreement, the NACHA Rules, and applicable law, and you will cooperate fully with any such audit.
With respect to each Entry you submit, you represent and warrant that: (A) the Entry has been properly authorized and such authorization has not been revoked; (B) the Entry complies with this Agreement and the NACHA Rules, including the use of the proper SEC Code; (C) all information submitted with the Entry is accurate and complete; and (D) you have obtained all required consents and authorizations under applicable law.
You may not act as a Third-Party Sender without our prior written consent. Any unauthorized Third-Party Sender activity constitutes a material breach of this Agreement and may result in immediate suspension or termination of the ACH Origination Service.
Assignment; Transfer; Non-Waiver. The Account and your obligations under this Agreement may not be assigned by you without our prior written consent. We may transfer or assign our rights and obligations under this Agreement at any time. Platform acts as an agent of Bank for certain purposes and will be responsible for carrying out certain of Bank’s obligations under this Agreement as Bank’s agent, including receiving notices from you, responding to inquiries or complaints relating to your Account, and performing other responsibilities described in this Agreement. Accordingly, where Bank is responsible for matters under this Agreement, such matters may be handled either by Platform or by Bank directly. Use of the Account is subject to applicable federal and state laws and all applicable rules, regulations, and customs of any clearinghouse or other association governing the Account or any transactions conducted through the Account. If either party excuses the other from compliance with any provision of this Agreement, such excuse shall not operate as a waiver of the right to enforce compliance with that or any other provision on any other occasion, regardless of the number or duration of any prior excusals. A party may not reasonably rely on the other party’s past forbearance to modify or waive present or future rights, obligations, or performance under this Agreement. If any provision of this Agreement is determined to be invalid, illegal, or unenforceable for any reason, such provision shall not affect the validity or enforceability of any remaining provisions of this Agreement.
Deposit Network Service. From time to time, we may, but are not obligated to, deposit or hold some or all funds associated with your use of the services in one or more accounts at one or more depository institutions through (i) a deposit placement or sweep program and/or (ii) a safeguarding arrangement used to hold funds on your behalf until transferred in accordance with your payment instructions (your “Float Balance”) (each, a “Deposit Network Service”) administered by us or by a third-party service provider (a “Third-Party Service Provider”). In order for you to participate in a Deposit Network Service, we may ask you to enter into additional agreement(s) with us with respect to the Deposit Network Service.
United States. All depository institutions that participate in a Deposit Network Service in the United States (each a “Network Bank” and, together, the “Network Banks”) are insured by the Federal Deposit Insurance Corporation (“FDIC”) or the National Credit Union Administration (“NCUA”), as applicable. Each account at a Network Bank in which any funds are deposited as part of a Deposit Network Service shall be titled in the Bank’s name or the Bank’s agent’s name as custodian, for the benefit of eligible customers, to provide deposit insurance coverage to the extent permitted under applicable FDIC or NCUA rules, up to the applicable insurance limit (currently $250,000 per depositor, per insured bank, per ownership category).
Canada. Where funds are held in Canada as part of your Float Balance, such funds may be held in one or more accounts at one or more Canadian depository institutions, including CDIC member institutions, in a manner intended to safeguard those funds and provide deposit insurance coverage to the extent eligible under CDIC rules. CDIC generally insures eligible deposits up to $100,000 per insurance category, per member institution. You will not have direct access to any such safeguarding or deposit accounts.
RPAA Safeguarding. To the extent Float is required to safeguard end-user funds under the Retail Payment Activities Act (Canada), end-user funds held on your behalf until they are withdrawn or transferred will be safeguarded in accordance with applicable RPAA requirements, including by holding such funds in a segregated trust/safeguarding account or other permitted arrangement.
The bank may transfer funds directly to a Network Bank, or funds may be placed in the custody of a custodian bank prior to being transferred to a Network Bank. If any funds are held at a custodian bank, they shall be placed in an account that is titled and beneficially held to provide deposit insurance coverage to eligible customers to the extent permitted by applicable law and program requirements. Your funds held through a Deposit Network Service will be governed by the terms of this Agreement in the same manner and to the same extent as funds held at Bank, except that you understand you will not have direct access to any account established at a Network Bank or custodian bank and may not take any direct action with respect to a Deposit Network Service.
You appoint Bank as your limited agent to provide the Deposit Network Service. Bank may at any time and in its sole discretion effect deposits to and withdrawals from accounts at Bank and any accounts established at the Network Banks as part of the Deposit Network Service. You authorize Bank to use one or more Third-Party Service Providers selected solely by Bank to act as your limited agent(s) to provide the Deposit Network Service, including the selection of one or more Network Banks and one or more custodian banks as Bank deems suitable for the purpose of providing the Deposit Network Service.
Insurance Limits and Monitoring. Any funds deposited at a Network Bank as part of the Deposit Network Service, and any funds you hold at the same Network Bank by any other means in the same capacity, may be eligible for deposit insurance in the aggregate up to the applicable insurance limit. It is your responsibility to monitor the aggregate balance of funds you beneficially own at each Network Bank (and, if applicable, each CDIC member institution) to determine whether those balances exceed applicable coverage limits and to take appropriate action.
Bank and its agents will maintain records of the balance that each depositor beneficially holds at each Network Bank (and, if applicable, each Canadian institution used for safeguarding). The use of the Deposit Network Service will not modify the Funds Availability Policy that is part of this Agreement. Subject to the terms of the Funds Availability Policy, your access to the funds made available through the Platform will not be affected by participation in a Deposit Network Service.
Abandoned or Inactive Accounts. Applicable unclaimed property laws govern when an account or balance is considered abandoned or inactive. An Account may be considered abandoned if there has been no activity associated with the Account for the period specified by applicable law. Activity associated with the Account is determined in accordance with the Platform’s terms and applicable legal and regulatory requirements. Where an Account is at risk of being deemed abandoned or inactive, the Platform will be notified and may take action in accordance with its terms. If an Account or balance is deemed abandoned, we are required to remit the remaining funds to the appropriate governmental authority. Before doing so, we may attempt to contact you using the contact information on file. Unless prohibited by law, we may deduct from the Account our reasonable costs and expenses incurred in providing notice and processing the remittance in accordance with applicable law.
FDIC Insurance. For any deposit accounts you open, the FDIC requires Bank to disclose, and you hereby acknowledge, that deposits held by Bank are insured up to $250,000 federal deposit insurance limit, per depositor for each ownership category.
Account Owner Representations and Warranties. By requesting, activating, accessing, or using the Account, or by retaining or authorizing the use of the Account, the Account owner represents and warrants to us that: (a) the Account owner has received a copy of this Agreement and agrees to be bound by and to comply with its terms; (b) if the Account owner is a legal entity, such entity is duly organized, validly existing, and in good standing under the laws of the state or jurisdiction of its formation; (c) if the Account owner is a legal entity, such entity is duly qualified and in good standing to conduct business in all jurisdictions in which it conducts business; (d) if the Account owner is a legal entity, such entity has all requisite organizational power and authority to establish the Account, enter into this Agreement, and perform its obligations hereunder; (e) all personal, business, and other information provided by the Account owner to us in connection with the Account is true, accurate, and complete; (f) if the Account owner is a legal entity, the individual accepting this Agreement on behalf of the Account owner has the requisite authority to bind the Account owner to this Agreement; (g) each Authorized Representative designated by the Account owner is at least eighteen (18) years of age (or older if the applicable age of majority is higher) and otherwise eligible to act on behalf of the Account owner; (h) the Account owner has authorized each Authorized Representative to access and use the Account in accordance with this Agreement; (i) the Account owner has provided each Authorized Representative with a copy of this Agreement, and each Authorized Representative has agreed to be bound by and comply with its terms; and (j) the Account will be used solely for business purposes and not for personal, family, or household purposes.
Our Relationship with You. This Agreement and the relationship between you and the Bank is that of debtor and creditor, and the Bank owes no fiduciary duty to you. The products and services offered by Platform are not endorsed or guaranteed by Bank and Bank assumes no liability for the Platform’s products and services, except for those services expressly provided for in this Agreement. You understand that Platform and Bank are not partners, affiliates, or joint venturers with each other. Nothing in this Agreement is intended to be read or understood as making Platform and Bank partners, affiliates, or joint venturers or impose any liability as such on either of them. Unless otherwise expressly stated in this Agreement, Platform has no authority to act or represent Bank in any way. Bank provides the services under this Agreement in part through one or more service providers, including Platform. You agree that Platform and any other such service providers are third-party beneficiaries of this Agreement, which means they can enforce the Agreement against you.
Standard of Care; Limitation of Liability. We will exercise commercially reasonable care in providing the services under this Agreement. To the fullest extent permitted by applicable law, our liability for losses you incur in connection with your Account is limited to direct, actual damages proven to be proximately caused by our gross negligence or willful misconduct. We will not be liable for any indirect, incidental, consequential, special, or punitive damages, including loss of profits or business opportunity, even if we have been advised of the possibility of such damages. In the case of the unauthorized disclosure of private or confidential information, liability, if any, will be determined in accordance with applicable law. We will have no liability for acting on instructions from you or from an Authorized Representative, or instructions we reasonably believe in good faith to be from you or an Authorized Representative. We will have no liability for declining to act on instructions whose authenticity or accuracy cannot be verified to our satisfaction, or for not acting on instructions not actually received. Except as otherwise expressly provided in this Agreement or as otherwise required by applicable law, we, our affiliates, and the parties with whom we and our affiliates contract in order to offer your Account and related services are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to your Account, Card, any products or services purchased using the Account, or this Agreement (as well as any related or prior agreement you may have had with us).
Without limiting the foregoing, we will not be liable for and will be excused from failing to act or delay in acting if such failure or delay is caused by legal constraint, interruption of transmission or communications facilities, equipment failure, war, act of terror, emergency conditions, or other conditions beyond our control. To the extent permitted by law, we will not be liable for, and will be excused from, failing to process or any delay in processing a transfer of funds (i) if, in our reasonable discretion, processing a transfer would violate or contribute to the violation of any law, regulation or regulatory requirement; or (ii) if processing a transfer, in our sole discretion, would cause it to engage in an unsafe and unsound practice.
Except if another provision of this Agreement requires a shorter time period, any claim, action, or proceeding by you to enforce the terms of this Agreement or to recover for any Account-related loss must be commenced within one year from the date that the event giving rise to the claim, action, or proceeding first occurs, except as otherwise required by applicable law or where a shorter period is expressly provided.
You agree to cooperate with us in any loss recovery efforts we undertake to reduce any loss or liability that arises in connection with the Account. This Section shall survive termination of this Agreement.
Adjustments. If we make an error in your favour by excessively crediting or insufficiently debiting your Account for any reason, including, without limitation, the giving of cash or credit in excess of a corresponding account debit, you agree that you owe us and agree to promptly pay the amount in error, whether you relied on the error or not, and that we may debit your Account for the amount in error.
Indemnification. You will indemnify and defend us and our officers, directors, employees, agents, and representatives, and hold each of them harmless, against suit, judgment, asserted claim, demand, excise taxes, claims, liabilities, or losses, including fees of counsel, interest, and other expenses, arising directly or indirectly from your Account, Card, our performance under this Agreement, your breach of your obligations under this Agreement, your instructions, actions or omissions, or the instructions, actions or omissions of third parties whom you have permitted to direct, manage, view or otherwise act or omit to act in connection with your Account, unless the claim, liability, or loss arises out of our gross negligence or willful misconduct. If we and our officers, directors, employees, agents, or representatives are entitled to indemnification under this Agreement, we will give you notice of the claim and any further pleadings, communication, or other information connected with it. You shall defend us, and our officers, directors, employees, agents, and representatives, or pay for the cost of our defense, as we or our officers, directors, employees, agents, or representatives shall elect. The parties shall cooperate for the cost-effective defense of the claim, and we and our officers, directors, employees, agents, and representatives will not settle any claim for which indemnification is demanded without your consent. This provision shall survive termination of this Agreement.
Right to Set Off. If your Account balance becomes and remains negative, we may, to the extent permitted by applicable law, use funds in any of your accounts with us that are not required to be held in trust or safeguarded for your benefit under applicable law to repay the negative balance in your Account without further notice or demand. Moreover, we have the right to set-off against any account you have with us any liability, direct or contingent, past, present, or future that you owe us, including, but not limited to, any such liability you owe us under this Agreement to the extent permitted by applicable regulatory requirements. Further, you grant us a lien on and security interest in the funds on deposit in each of your accounts as security for all of your liabilities and obligations to us, now or in the future as permitted by applicable law. You may not grant a security interest in your Account to anyone other than us without our written agreement.
Claims of Loss. If you claim a credit or refund in connection with an unauthorized transaction or other Account error, you agree to cooperate with us in the investigation of the claim, including by providing an affidavit or other information we reasonably request concerning the Account, the transaction, and the circumstances surrounding the claim. We may require you to notify appropriate authorities where required by law or where reasonably necessary to investigate suspected fraud or criminal activity. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. You agree that you will not waive any rights you may have to recover your loss against any third party that is obligated to repay, insure, or otherwise reimburse you for the loss, and you will pursue such rights or, at our option, assign them to us. Our liability, if any, will be reduced by the amount you recover or are entitled to recover from such other sources.
No Warranty of Availability or Uninterrupted Use. From time to time, services related to the Platform App or the Account may be inoperative. When this happens, you may be unable to access the Platform App, and you may be unable to use the Account or obtain information about the Account. Please notify us if you have any problems using the Account or Platform App. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures, nor shall we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labor disputes, and armed conflicts. To the fullest extent permitted by law, we do not make any warranties of any kind related to the Platform App, either express or implied, including but not limited to, implied warranties of merchantability or fitness for a particular purpose.
Amendment. Except as otherwise required by applicable law, we may amend or change the terms and conditions of this Agreement from time to time by posting the amended Agreement on the Platform App. Any such amendment will become effective as required by applicable law, and you will be notified of any amendment(s) in the manner and within the time period required by applicable law prior to the effective date. However, if an amendment is made for security purposes or to comply with legal or regulatory requirements, or is otherwise for your benefit, we may implement it without prior notice to the extent permitted by law.
Customer Service. For customer service or additional information regarding your Account, please contact Platform at:
Phone: +1 (833) 944-3175
Email: support@floatfinancial.com
Communications About Your Account. You agree that we may contact you by phone, chat, or email to service your Account. You agree to provide us accurate contact information. You agree that we may contact you at any phone number, email address, or mailing address that you provide us. When you give us a phone number, you expressly consent that we and our agents may contact you by phone call or text message at that phone number. You agree that we may leave you prerecorded messages and that we may use automated telephone dialing systems when contacting you by phone call or text message at any number you provide us. You agree that we may monitor, record, and retain your communications with us at any time in accordance with applicable law.
PLEASE READ THE FOLLOWING ARBITRATION PROVISION CAREFULLY. IN THIS ARBITRATION PROVISION, “WE,” “OUR,” AND “US” REFER TO BANK AND PLATFORM. THIS ARBITRATION PROVISION PROVIDES FOR MANDATORY ARBITRATION OF CLAIMS (SUBJECT TO SOME EXCEPTIONS), INSTEAD OF COURT PROCEEDINGS. IF YOU OR WE ELECT ARBITRATION OF A CLAIM, NEITHER WILL HAVE THE RIGHT TO PURSUE THAT CLAIM BEFORE A JUDGE OR JURY IN COURT OR TO PARTICIPATE IN A CLASS ACTION PROCEEDING. RIGHTS YOU WOULD HAVE IN COURT THAT MAY BE LIMITED OR UNAVAILABLE IN ARBITRATION INCLUDE THE RIGHT TO CONDUCT DISCOVERY OR TO APPEAL. FEES AND EXPENSES OF ARBITRATION MAY BE HIGHER THAN THOSE ASSOCIATED WITH COURT PROCEEDINGS. THE ARBITRATOR’S DECISION WILL BE BINDING, EXCEPT AS PROVIDED BELOW.
Agreement to Arbitrate. Any claim, dispute, or controversy (“Claim”) arising out of or relating in any way to: (i) this Agreement; (ii) the Account, Card or our services; (iii) your use of the Account, Card or our services; (iv) the amount of funds held in the Account; (v) advertisements, promotions or oral or written statements related to the Account or our services; (vi) the benefits related to the Account, Card or our services; or (vii) transactions made using the Account, Card or our services, no matter how described, pleaded or styled, shall be FINALLY and EXCLUSIVELY resolved by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules. This arbitration agreement is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16). The arbitration shall occur in Tennessee or such other location as the parties may mutually agree, including by remote means.
ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE.
For a copy of the procedures, to file a Claim or for other information about this organization, contact it at: AAA, 335 Madison Avenue, New York, NY 10017, or at www.adr.org.
All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction.
NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION OR PRIVATE ATTORNEY GENERAL ACTION OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.
This arbitration provision shall survive: (i) the termination of the Agreement; (ii) the bankruptcy of any party; (iii) any transfer, sale or assignment of your Account, or any amounts owed on your Account, to any other person or entity; or (iv) closing of the Account. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.
IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, YOU MUST NOTIFY PLATFORM WITHIN SIXTY (60) DAYS FROM THE DATE YOU ENTER INTO THIS AGREEMENT AT support@floatfinancial.com, TO CLOSE THE ACCOUNT AND REQUEST A REFUND, IF APPLICABLE.
Costs of Arbitration. You and we will be responsible for paying the fees of the arbitrator and any administrative fees charged by the arbitrator according to the rules and procedures of the arbitrator. We will also pay or reimburse you for all or part of other arbitration fees, if the arbitrator determines there is good reason to do so, and we will pay any fees and costs, which we are required to pay by law or by the rules and procedures of the arbitrator. In addition, in the event that you receive an arbitration award that is greater than our last written settlement offer, the arbitrator shall have the discretion to require us to pay your attorneys’ fees and costs. Otherwise, each party will bear its own attorneys’ fees and costs, regardless of who prevails.
The arbitrator’s decision is final and binding on the parties, except for any right of appeal provided by the Federal Arbitration Act. Costs will be allocated in the same way as costs are allocated in arbitration by a single arbitrator. A final and binding award is subject to judicial review only as provided by the Federal Arbitration Act. An arbitration award will be enforceable under the Federal Arbitration Act by any court having jurisdiction.
Except to the extent governed by federal law, this Agreement shall be governed by the laws of the State of Tennessee, without regard to its conflict-of-laws principles.
We and you each may terminate this relationship unilaterally at any time upon notice, subject to applicable law. We may suspend your Account, Card or this Agreement at any time. To close your Account and Card and terminate this Agreement, please contact us through Platform at the customer service contact information set forth in Section 10.
For you to close your Account, your Account must not have a negative balance or any holds on funds in the Account. When you close your Account and Card, all outstanding items will be processed and posted to your Account or returned unpaid.
Upon termination, Bank will return to you any remaining funds in the Account by electronic transfer to an external account you designate subject to verification and applicable law or in a check mailed to your address on file associated with the Account, provided that you may request the balance to be returned to an external account that you have maintained, including any linked bank account, such request to be granted in our discretion and is subject to verification and applicable law. Allow at least fourteen (14) days for processing of any such balance return.
You agree that we require a reasonable amount of time to make your cancellation effective after you give us notice of cancellation. We will not be liable for any loss or damage that may result from not honoring any items we receive after your Account is closed. All cards and linked bank accounts will be disconnected and no longer available to use in connection with the Account. Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to the effective date of your cancellation.
You understand and acknowledge that even after executing this Agreement and opening an Account, Bank has the right to close your Account and terminate this relationship, and you will have no right to compel Bank to grant access to Bank services, either initially or after an Account is opened. If you terminate your relationship with Platform, the Account will automatically be closed.
Thread Bank, member FDIC, is the issuer of the Card pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark of Mastercard International Incorporated.
The fees listed below apply unless otherwise disclosed to you through the Platform or agreed based on your selected Float plan.
Services / Fee
Fees may vary by Float plan and may change from time to time in accordance with this Agreement. Any applicable fees will be disclosed to you through the Platform prior to being charged.
(Currencycloud Ltd.)
Last Updated: January 9, 2026
TABLE OF CONTENTS
These Float International Payments Terms (the “Terms”) govern your access to and use of Float Financial Solutions Inc.’s (“Float,” “we,” “us,” or “our”) international payments services (the “International Payments Service”).
These Terms form a standalone agreement between Float and the business entity using the International Payments Service (“you” or “Customer”).
The International Payments Service is available to Float customers and may be used solely for business purposes. By using the International Payments Service, you agree to be bound by these Terms.
1. The International Payments Service
The International Payments Service enables you to:
Float provides the International Payments Service through one or more regulated third-party payment service providers, including Currencycloud Ltd. and/or its applicable affiliates (“Currencycloud”), a Visa-owned entity.
Certain components of the International Payments Service, including payment execution, foreign exchange, account infrastructure, safeguarding arrangements, sanctions screening, transaction monitoring, fraud prevention, and regulatory reporting, are performed by Currencycloud and other intermediaries under their own regulatory licenses and compliance obligations.
2. Relationship Structure
Your contractual relationship for the International Payments Service is with Float. Float is responsible for:
To use the International Payments Service, you may be required to hold one or more business accounts, sub-accounts, or virtual accounts with Currencycloud.
You acknowledge and agree that such accounts:
You acknowledge and agree that, except where funds are required by applicable law to be safeguarded or held in trust prior to execution, Float does not act as a fiduciary, escrow agent, trustee, or financial advisor in connection with the International Payments Service.
Once funds are transferred from Float-controlled systems for the purpose of executing an international payment, such funds are subject to the processes, controls, and requirements of third-party financial institutions, payment networks, and intermediaries. Float does not control, and is not responsible for, the actions or omissions of such third parties beyond its obligations under these Terms.
3. Payment Instructions and Execution
By submitting a payment request through Float, you authorize Float to transmit your payment instructions and related transaction information to Currencycloud, correspondent banks, payment networks, and other intermediaries as necessary to process the transaction.
You are solely responsible for the accuracy, completeness, and validity of all payment information you provide, including beneficiary details, bank identifiers, routing information, addresses, amounts, and purpose-of-payment information.
Neither Float nor Currencycloud is responsible for delays, losses, rejections, misdirected payments, or failed transactions resulting from inaccurate, incomplete, or inconsistent information provided by you or your authorized users.
International payments are executed on a best-efforts basis only and are subject to:
Execution times are estimates only and are not guaranteed.
Processing times for inbound and outbound international payments depend on a variety of factors, including payment method, currency, cut-off times, intermediary banks, payment networks, and regulatory or compliance reviews.
Float publishes general information regarding estimated processing timelines and cut-off times for different payment types through its Help Centre or other customer communications. These timelines are estimates only and are not guarantees.
Payments submitted after applicable cut-off times, on weekends, or on bank or payment-network holidays may be processed on the next applicable business day. Business days may be determined by reference to Canadian federal banking holidays, U.S. banking holidays, and the holiday calendars observed by Currencycloud, correspondent banks, payment networks, or local clearing systems.
You acknowledge that:
Float is not responsible for delays caused by third-party financial institutions, payment networks, holidays, force majeure events, or circumstances beyond Float’s reasonable control.
International payments may involve foreign exchange conversion. Where a payment is initiated in one currency and received in another, any foreign exchange conversion may be effected by the receiving bank, a correspondent bank, or another intermediary financial institution. In such circumstances, the exchange rate applied, together with any related fees, charges, or deductions, is determined solely by the applicable third party, and Float does not determine, control, or guarantee such exchange rate, fees, or deductions.
Float does not guarantee the availability of any specific exchange rate and shall not be responsible for any losses, deductions, discrepancies, or differences in amounts received arising from foreign exchange conversion performed by third-party financial institutions.
Float may, at its discretion, offer foreign exchange conversion services as part of the service in the future. Where Float provides foreign exchange conversion, the exchange rate applied may be determined by Float or its payment partners and may include a spread, markup, or other fee. Any applicable exchange rate, spread, markup, or fee will be disclosed to you through the Services or other applicable customer communications prior to execution of the relevant transaction.
Any exchange rate displayed, referenced, or made available, whether determined by Float or a third party, is indicative only and may change between the time a payment instruction is submitted and the time the payment is executed due to market conditions, processing delays, compliance reviews, or payment network requirements.
4. Funding Model
Unless otherwise expressly agreed in writing, the International Payments Service operates on a push-funding model for Customers.
You must proactively fund your Float balanc or approved payment connection before the payment can be executed.
Neither Float nor Currencycloud will pull funds from your external bank accounts to fund international payments unless you have expressly authorized such debits under a separate agreement.
Where permitted by applicable law, Float may debit your Float balance or other funds held for your benefit to recover fees, returns, reversals, chargebacks, or other amounts owed in connection with the International Payments Service.
5.1 Customer Due Diligence
To comply with applicable laws and regulatory obligations, Float and/or Currencycloud may conduct Know Your Business (KYB) and Know Your Customer (KYC) checks, including ongoing monitoring and periodic reviews.
You agree to provide accurate, complete, and up-to-date information when reasonably requested.
Float conducts its own know-your-business (KYB) and know-your-customer (KYC) checks and ongoing monitoring in connection with the International Payments Service, in accordance with applicable law and Float’s compliance obligations.
In order to provide the International Payments Service, Float may share relevant customer, beneficial ownership, and transaction information with Currencycloud and other payment partners. Currencycloud conducts its own independent KYB, KYC, sanctions screening, and transaction monitoring pursuant to its regulatory obligations and internal compliance requirements.
Currencycloud does not rely solely on Float’s compliance checks and may independently delay, block, reject, freeze, reverse, or report any transaction, or impose additional information requirements, where required by applicable law, regulation, or regulatory guidance.
As a general practice, identity documents are not shared in connection with routine transactions. However, identity documents and additional information may be requested and processed where required by applicable law, regulation, or enhanced due diligence obligations.
You must not use the International Payments Service for any activity that is prohibited or restricted under applicable law, regulation, sanctions requirements, payment network rules, or Float’s policies, including activities that pose heightened legal, regulatory, financial crime, or reputational risk.
Without limiting the foregoing, the International Payments Service may not be used in connection with:
Float maintains additional information regarding prohibited and restricted activities in its Help Centre and related policy documentation, which may be updated from time to time. You are responsible for reviewing and complying with those requirements as they apply to your use of the International Payments Service.
Float and its payment partners may, at any time and in their sole discretion, refuse to process, suspend, block, reverse, delay, or investigate any transaction, or suspend or terminate your access to the International Payments Service, where such action is reasonably necessary to comply with applicable law, sanctions requirements, payment network rules, or internal risk and compliance policies.
International payments are subject to economic sanctions, trade restrictions, and country-specific limitations imposed by governmental authorities and payment networks.
You acknowledge and agree that Float and its payment partners may prohibit or restrict payments to or from certain countries, regions, financial institutions, or counterparties, including jurisdictions subject to comprehensive sanctions, regional sanctions, or heightened regulatory risk.
Information regarding restricted or limited jurisdictions is made available through Float’s Help Centre or customer support resources and may change without notice in response to evolving legal, regulatory, or risk considerations.
Float and its payment partners may delay, block, return, freeze, or report any transaction that involves, directly or indirectly, a restricted jurisdiction or counterparty, or that otherwise presents sanctions or compliance risk. Such actions may be taken without prior notice where required or permitted by law.
6. Refunds, Recalls, and Disputes
Once a payment has been submitted for execution, it may be irrevocable.
Float will use commercially reasonable efforts to assist with recalls, refunds, amendments, investigations, and payment inquiries; however, all such assistance is provided on a best-efforts basis only and depends on third-party banks, payment networks, and counterparties. Recovery of funds is not guaranteed.
Dispute rights and recovery outcomes are determined by applicable payment network rules and the policies of receiving financial institutions.
Float is not responsible for disputes between you and a payment recipient, correspondent bank, or intermediary and does not guarantee resolution in your favour.
7. Data Protection and Privacy
To provide the International Payments Service, Float may share the following information with Currencycloud and other service providers:
For data protection purposes:
Your information may be processed or stored outside Canada or the United States, including in jurisdictions where Currencycloud, Visa, or their service providers operate.
Float uses contractual and organizational safeguards designed to ensure that cross-border processing complies with applicable Canadian and U.S. privacy laws, including the Personal Information Protection and Electronic Documents Act (PIPEDA) and relevant U.S. state privacy laws.
Currencycloud is a Visa-owned company. As a result, Visa Inc. and its affiliates may process certain transaction-related and technical information in connection with the operation of payment networks, fraud prevention, security, system integrity, analytics, and compliance with legal and regulatory obligations.
Such processing is conducted by Visa acting as an independent data controller and is governed by Visa’s applicable privacy notices.
Float and its payment partners do not sell Customer personal information and do not use International Payments Service data for third-party advertising or marketing purposes.
By using the International Payments Service, you acknowledge and consent to the processing and disclosure of information as described in this Section as necessary to provide the service, operate payment networks, manage risk, prevent fraud, and comply with applicable law.
8. Security
Float and its payment partners maintain administrative, technical, and physical safeguards designed to protect your information and funds, including encryption, access controls, monitoring, and industry-standard security practices.
9. Suspension and Availability
Float may suspend, limit, or terminate access to the International Payments Service, in whole or in part, without prior notice, where reasonably necessary to comply with law, regulation, sanctions requirements, fraud prevention controls, payment network rules, or risk-management obligations.
10. Governing Law
These Terms are governed by:
without regard to conflict-of-laws principles.
11. Questions and Support
Questions regarding the International Payments Service or these Terms may be submitted through the Float platform or by contacting Float’s customer support at support@floatfinancial.com.
Float may update or change its customer support channels from time to time, and the availability of support does not create any service level commitment unless expressly agreed in writing.
Validity: March 10, 2026 – June 30, 2026
The Bill Pay Bonus offers eligible Float customers who have not previously used Float Bill Pay an additional 1% interest rate bonus on their Float interest balance (CAD and USD) upon completing their first bill payment through Float between March 10 and March 31, 2026.
2.1 Who Can Participate
This promotion is available exclusively to Float customers who meet all of the following criteria at the time of the qualifying action:
2.2 Who Cannot Participate
The following are not eligible for this promotion:
Qualifying accounts will receive an additional 1% interest rate bonus on their Float interest balance (CAD and USD), applied from April 1 to June 30, 2026. Once qualified, the promotional 1% bonus will apply each month on top of your standard Float interest rate during the promotional period. After June 30, 2026, the standard Float interest rate will apply.
Float’s interest is an annualized rate, calculated daily based on your Float balance (in both CAD or USD) and paid monthly. Any balance in Float will start earning interest from the first dollar.
Your rate is set monthly based on your previous month’s Float Card spending—the more you spend, the higher your rate.
Your rate is set at the beginning of each month based on the previous month’s spending. CAD and USD rates are calculated separately.
Interest payments occur on the first day of every month.
Rates, terms, and eligibility criteria are subject to change
No minimum balance, referral code, or lock-up period is required to qualify. This promotion cannot be combined with any other temporary offers from Float, including bonus cashback offers. However, you may receive this bonus in addition to our permanent Float rewards: Float interest and our regular 1% cashback offer, applicable on spending over $25,000. Standard Float usage terms apply.
Float Financial Solutions, Inc. reserves the right to determine eligibility at its sole discretion, to disqualify participants who do not meet the conditions above, and to interpret these Terms & Conditions in its sole discretion. All decisions by Float are final and binding.
These Terms & Conditions (“Terms”) govern the Float Interest Boost Promo (the “Promotion”) offered by Float Financial Solutions Inc. (“Float”).
Validity: June 1, 2026 – August 31, 2026 (the “Enrollment Period”)
The Promotion is subject to all applicable federal, provincial, state, and local laws and regulations.
The Promotion offers eligible Float customers an additional 1% annualized promotional interest rate boost, allowing eligible customers to earn up to 3.5% annualized interest on qualifying new balances held in their Float account above their established baseline balance, for a period of twelve (12) months from the date of enrollment in the Promotion (the “Promotional Period”).
The promotional interest rate boost applies in addition to Float’s standard interest rate applicable to eligible CAD and USD balances.
Participation in the Promotion does not create any vested right or entitlement to continued participation or future promotional offers.
For existing customers, “Baseline Balance” means the customer’s average daily balance held between April 1, 2026 and April 30, 2026, calculated separately for CAD and USD balances.
The Baseline Balance:
For customers who open a Float account after April 30, 2026, the Baseline Balance will be deemed to be $0.
“New Funds” means net new funds added into the applicable Float account originating from external financial institutions.
New Funds do not include:
Float reserves the right to determine, in its sole discretion, whether funds qualify as New Funds for purposes of the Promotion.
“Promotional Period” means the twelve (12) month period beginning on the customer’s enrollment date in the Promotion.
This Promotion is available exclusively to Float customers who meet all of the following conditions at the time of enrollment:
The following are not eligible for this Promotion:
Eligible customers who enroll in the Promotion will receive an additional 1% annualized promotional interest rate boost on qualifying balances above their applicable Baseline Balance.
The promotional interest rate boost:
The promotional interest rate boost is calculated daily based on the portion of eligible balances maintained above the applicable Baseline Balance on each day during the Promotional Period.
The additional 1% annualized promotional interest rate boost applies to qualifying balances up to a maximum of:
Balances above the applicable cap will continue earning Float’s standard interest rate but will not receive the additional 1% annualized promotional interest rate boost.
The Promotion applies separately to eligible CAD and USD balances.
Baseline calculations, promotional caps, and interest calculations are determined independently for each currency.
For customers operating multiple business entities or multiple Float accounts under common ownership or control:
Eligible balances are balances held in qualifying Float interest-enabled accounts designated by Float.
Float reserves the right to determine which account types or balances qualify for participation in the Promotion.
Float’s standard interest rate is currently 2.5% annualized, variable, and may change at any time.
During the 12-month Promotional Period, eligible customers will receive a 1% annualized interest rate boost on top of the applicable standard Float interest rate in effect at the relevant time.
Based on the current standard rate of 2.5%, eligible customers may earn up to 3.5% annualized interest during the Promotional Period.
For example:
Float reserves the right to modify, suspend, or discontinue its standard interest rates at any time.
Float does not guarantee the availability of any particular interest rate for any duration of time.
Interest rates are annualized, accrue daily, and are paid monthly.
If a customer has a Baseline Balance of $5,000,000 CAD and later maintains a balance of $8,000,000 CAD, the additional 1% annualized promotional interest rate boost applies only to the incremental $3,000,000 CAD above the Baseline Balance, subject to applicable caps.
Customers may enroll in the Promotion between:
June 1, 2026, at 12:00 a.m. ET and August 31, 2026, at 11:59 p.m. ET
Participation in the Promotion requires explicit customer enrollment.
Eligible customers must affirmatively opt into the Promotion through Float’s designated enrollment process. Customers will not be automatically enrolled. For each enrolled customer, the 12-month Promotional Period begins on the customer’s enrollment date.
Float may, in its sole discretion, manually enroll eligible customers.
Enrollment after the Enrollment Period will not be permitted unless otherwise approved by Float in its sole discretion.
This Promotion:
Promotional benefits will immediately terminate if the applicable Float account:
Float reserves the right to withhold, limit, suspend, revoke, reverse, or adjust promotional benefits or promotional interest payments where:
Float reserves the right to correct administrative, technical, clerical, calculation, or processing errors at any time.
This Promotion may not be combined with certain other promotional or temporary Float offers, unless otherwise expressly stated by Float.
Standard Float platform terms, account agreements, and applicable product terms continue to apply.
The Promotion is void where prohibited by law.
Float reserves the right to modify, suspend, or terminate the Promotion or these Terms at any time, subject to applicable law.
All determinations made by Float regarding the Promotion, including eligibility, qualification, interest calculations, and interpretation of these Terms, shall be final and binding.
For questions regarding this Promotion, please contact Float Support through the Float platform or through Float’s designated support channels.
Last updated: July 20, 2026
These Terms & Conditions (“Terms”) govern the Float AI Cashback Promotion (the “Promotion”) offered by Float Financial Solutions Inc. (“Float”). By opting into the Promotion, the customer agrees to these Terms.
Validity: July 28, 2026 to October 31, 2026. Eligible customers may enroll from July 28, 2026 to August 31, 2026 (the "Enrollment Period"); enrolled customers may earn Cashback on Eligible Spend through October 31, 2026 (see Section 2.4).
The Promotion is subject to all applicable federal, provincial, state, and local laws and regulations.
1. Overview
The Promotion offers eligible new Float customers 3% cashback on Eligible Spend at Approved AI Vendors, up to a maximum of $500 CAD in total per customer entity (the “Cashback Cap”), over an Accrual Period beginning on the customer’s enrollment date and ending on October 31, 2026 (see Section 2.4).
Cashback is a promotional benefit only. It does not modify Float’s standard card or fee terms. The promotional Cashback rate applies in place of — not in addition to — Float’s standard cash-back rate on the same Eligible Spend, and does not stack with it (see Section 4.7).
Participation in the Promotion does not create any vested right or entitlement to continued participation or future promotional offers.
2. Definitions
2.1 “New Customer”
A business entity that (a) did not maintain a Float account at any time prior to the Enrollment Period, and (b) opens and is approved for a Float account during the Enrollment Period. Existing Float customers are not eligible for the Promotion.
2.2 “Approved AI Vendor”
A merchant on Float’s list of qualifying AI-native vendors, as designated and maintained by Float (see Schedule A). “AI-native” means the product itself is the artificial-intelligence service (for example, a large-language-model assistant, generative image, video, or voice tool, or an AI agent or API). Software that merely includes AI features within a broader product (for example, productivity, design, collaboration, or communication software) is not an Approved AI Vendor. Float may add to, remove from, or otherwise update the list of Approved AI Vendors at any time in its sole discretion.
2.3 “Eligible Spend”
Net purchase transactions made on a qualifying Float card at an Approved AI Vendor during the Accrual Period, calculated in CAD and net of refunds, chargebacks, and reversals. Eligible Spend does not include:
2.4 “Accrual Period”
The period beginning on the customer’s enrollment date and ending on October 31, 2026, during which Eligible Spend may earn Cashback. The Accrual Period ends on October 31, 2026 for every enrolled customer, regardless of enrollment date. Because enrollment may occur at any time during the Enrollment Period, the Accrual Period is up to approximately three (3) months and is shorter for customers who enroll later in the Enrollment Period.
2.5 “Cashback”
The 3% promotional rebate on Eligible Spend, subject to the Cashback Cap.
2.6 “Cashback Cap”
The maximum total Cashback payable to a customer entity under the Promotion, being $500 CAD in aggregate across the entire Accrual Period — not $500 per month. Once a customer reaches the Cashback Cap, no further Cashback accrues regardless of additional Eligible Spend.
3. Eligibility
3.1 Eligible Participants
The Promotion is available exclusively to customers who meet all of the following conditions at the time of enrollment:
3.2 Ineligible Participants
The following are not eligible for the Promotion:
4. Promotion Mechanics
4.1 Cashback Rate
Eligible customers who enroll will earn a 3% cash-back rebate on Eligible Spend at Approved AI Vendors during the Accrual Period, subject to the Cashback Cap.
4.2 Cashback Cap
Total Cashback is capped at $500 CAD per customer entity across the whole Accrual Period. The cap applies to the aggregate of all Cashback earned during the Accrual Period and is not a monthly limit.
4.3 Accrual and Payment
Promotional Cashback accrues on Eligible Spend as transactions are captured and is calculated in CAD. Customers who qualify for Float’s standard cash-back program will continue to receive any standard cashback they earn in accordance with the applicable Float terms and on Float’s regular monthly payment schedule.
Following the end of the Accrual Period on October 31, 2026, Float will calculate each eligible customer’s total Promotional Cashback earned under this Promotion. Within three (3) business days after the Accrual Period ends, Float will credit a single lump-sum promotional payment to the customer’s Float account. This payment will equal the difference between the total Promotional Cashback earned at the 3% promotional rate and any standard cashback already paid on the same Eligible Spend, subject to the $500 Cashback Cap. If a transaction that generated Promotional Cashback is later refunded, reversed, or disputed, Float may adjust, withhold, or recover the corresponding Promotional Cashback.
4.4 Approved AI Vendors
Cashback applies only to Eligible Spend at Approved AI Vendors. Vendors that merely include AI features within a broader product — for example, Microsoft Copilot, Adobe, Notion, Google Workspace, and similar — do not qualify. Float determines whether a vendor qualifies in its sole discretion and may update the Approved AI Vendor list at any time. The list in effect at the relevant time governs. A current list appears in Schedule A.
4.5 Multi-Entity Organizations
For customers operating multiple business entities or multiple Float accounts under common ownership or control, eligibility, Eligible Spend, and the Cashback Cap are determined separately for each legal entity and are not aggregated across entities.
4.6 Eligible Accounts
Eligible Spend must be incurred on qualifying Float card accounts designated by Float. Float reserves the right to determine which account or card types qualify for participation in the Promotion.
4.7 Interaction with Standard Cashback
This Promotion is intended to provide eligible customers with a total of up to 3% cashback on Eligible Spend at Approved AI Vendors, subject to the $500 Cashback Cap. Customers who qualify for Float’s standard cash-back program will continue to receive standard cashback in accordance with the applicable Float terms. After the Accrual Period ends, Float will issue a single lump-sum promotional payment equal to the remaining Promotional Cashback earned on Eligible Spend, taking into account any standard cashback already paid on that spend, so that Eligible Spend earns a maximum total of 3% cashback under this Promotion. Card spend that is not Eligible Spend continues to earn standard cashback in accordance with the applicable Float terms.
5. Enrollment
Customers may enroll in the Promotion between July 28, 2026, at 12:00 a.m. ET and August 31, 2026, at 11:59 p.m. ET.
Participation requires explicit customer enrollment. Eligible customers must affirmatively opt into the Promotion by entering referral code AISPEND when signing up for their Float account during the Enrollment Period. Customers will not be automatically enrolled, and the referral code must be applied at signup — it cannot be added to an existing account or an already-completed signup unless otherwise approved by Float. For each enrolled customer, the Accrual Period begins on the customer’s enrollment date and ends on October 31, 2026.
Float may, in its sole discretion, manually enroll eligible customers or honor the referral code where it was not successfully applied. Enrollment after the Enrollment Period will not be permitted unless otherwise approved by Float in its sole discretion.
6. No Fees or Lock-Up Requirements
This Promotion:
To earn Cashback, a customer must incur Eligible Spend at Approved AI Vendors during the Accrual Period.
7. Suspension, Termination, and Loss of Eligibility
Promotional benefits will immediately terminate if the applicable Float account:
Float reserves the right to withhold, limit, suspend, revoke, reverse, or adjust promotional benefits or Cashback payments where:
Float reserves the right to correct administrative, technical, clerical, calculation, or processing errors at any time.
8. Additional Conditions
This Promotion may not be combined with certain other promotional or temporary Float offers, unless otherwise expressly stated by Float.
Standard Float platform terms, account agreements, and applicable product terms continue to apply.
Cashback may be treated as taxable income or as a reduction of expense depending on the customer’s circumstances. Customers are solely responsible for any tax consequences of participating in the Promotion and should consult their own advisors.
The Promotion is void where prohibited by law.
Float reserves the right to modify, suspend, or terminate the Promotion or these Terms at any time, subject to applicable law.
All determinations made by Float regarding the Promotion — including eligibility, qualification of vendors and spend, Cashback calculations, and interpretation of these Terms — shall be final and binding.
9. Questions
For questions regarding this Promotion, please contact Float Support through the Float platform or through Float’s designated support channels.
Schedule A — Approved AI Vendors
The vendors below are the Approved AI Vendors in effect as of the start of the Enrollment Period. This list may be updated by Float at any time in its sole discretion; the list in effect at the relevant time governs. Vendors that merely include AI features within a broader product are excluded.
Not eligible (examples): Software whose primary product is not an AI service, even where it offers AI features — for example, Microsoft Copilot, Adobe, Notion, Google Workspace, Slack, Zoom, Figma, Canva, Grammarly, HubSpot, Atlassian, and Salesforce.
Last modified: August 2026
These Terms of Use for Mobile Payment Services (the “Terms”) apply when you choose to add a Float Visa Card (“Card”) to an eligible mobile payment wallet (each, a “Wallet”). In these Terms, “you” and “your” refer to the Business Cardholder (meaning the individual or entity to whom a Card is issued under a business account), Business Administrator, or Card User who adds or uses a Card in a Wallet, as applicable.
Card Issuer: Float Financial Solutions Inc. (“Card Issuer”) issues the Card pursuant to a license from Visa International Incorporated.
In these Terms, “we”, “us” and “our” mean Float Financial Solutions Inc., in its capacity as issuer of the Card, and, as applicable, third-party service providers to Float when acting in that capacity to provide services in connection with the Card.
When you add a Card to a Wallet, you agree to these Terms:
*Visa Int./Float Financial Solutions Inc., Licensed User.