Your Float Account is a central place for you to earn rewards for your business while automating and managing your company’s spending.

You’ll receive interest on your CAD and USD balances in Float and cashback rewards when you spend on Float Cards. Plus, you’ll have access to smart spend management software.

Float customers have access to physical and virtual corporate cards in both CAD and USD when they join Float, backed by intelligent spend management software to help you automate, manage, and control company spend. Even better? Our Essentials plan is free!

4% is not a promotional rate, and there’s no set end! However, if the Bank of Canada changes rates up or down, banks may follow suit. At any time, for this reason or otherwise, Float may change Yield rates without notice.

Yes! You can earn 4% interest on monthly Float balances up to $1M and 1% cashback on monthly card spend over $25k, in both CAD and USD. Please note that interest is available on Pre-funded accounts, and for Canadian entities only.

No lockups, and this isn’t a GIC. Customers can easily withdraw funds by contacting our Support team, which is available 7 days per week. Funds will take 2-5 business days to arrive back in the bank account you connect to Float.

Float’s 4% interest is an annualized rate, calculated daily, and paid monthly on Float balances. Any balance in Float on or after December 1 will start earning interest from the first dollar. Interest payments occur on the first day of every month, based on the preceding month’s average daily closing balances.

Both CAD and USD funds are held in dedicated accounts at Tier 1 Canadian banks. All stages of our funds storage process use dedicated accounts for the storage of customer funds, and customer funds are segregated from operating funds at all times.

Please note: Float is not a bank or CDIC member institution, and funds aren’t CDIC insured. Float is a registered MSB (Money Services Business) in Canada. We are also SOC2, type 2-certified, ensuring adherence to robust security protocols as verified by independent audits.

We took the rates of commonly available business savings products from each of the 5 big banks on October 16, 2024 and averaged them. For USD funds, since business savings products are often not available in Canada, we looked at common USD business chequing products where a savings product did not exist.

For the calculator, research shows that high-limit no personal guarantee corporate cards in Canada don’t commonly have cashback rewards, and no cashback was assumed. Please note that Float Accounts are not directly comparable to these products.

We believe in passing the interest earned on your funds back to you. The rates we’re offering are often not available or negotiated by Canadian SMBs, so we’re proud to be able to do so.

What makes it worth Float’s while is that we hope that over time, customers will spend with us on Float corporate cards and use our software, and want to do more business with us.