The business account that makes sense. And money.
Zero fees, up to 4% interest and CDIC insured. The high-yield business account built for Canadian companies.
Trusted by thousands of leading Canadian companies.†
Features
Finally, a business account that works as hard as you do.
Banks say choose. We say no compromise.
Zero wait, zero fees
Open your account in minutes, not weeks. Move money instantly via ACH/ EFT or wires, with zero transaction fees on sending or receiving funds via ACH/ EFT.
The best interest rate in Canadian business finance
Every dollar in your Float balance earns up to 4% interest with rates up to 2.8X the Canadian banks. No minimums. No lockups and 100% liquidity.
CDIC insured
Operate your business with confidence, knowing your funds are CDIC insured AND held in trust.
Borderless banking
Receive USD payments, hold USD funds and convert USD↔CAD at market-leading rates and manage both balances with ease from a single platform.
Interest is earned on cash balances. Balances with <$50K earn 2.5% interest, Balances >=$50K earn 4%. Float is definitely not a bank. Learn more.
The problem
Business banking in Canada doesn’t make sense
Four questions you can finally stop asking.
From WTF with traditional banking to Why There’s Float!
Traditional banks slow you down. Float moves you forward.
Float Earnings Calculator
Plug in your details to discover how much more you could earn and save by switching to Float.
2.5% under 50K, 4% above 50K
2% Cashback (min $25k/mo)
2.5% under 50K, 4% above 50K
2% Cashback (min $25k/mo)
FloatFX at 0.25% vs 3% at banks
Annual Savings and Earnings
That’s
$17,540
you’d save and earn by switching to Float from a bank.
How it works
4 steps to better business banking
Getting started is faster, easier, and smarter with Float.
1. Sign up in minutes, not weeks
Complete your application online. No branch appointments, no paperwork mountains, no waiting. We verify your business while you keep working.
2. Fund your account
Connect your bank(s) or transfer funds via ACH/ EFT/wire to your Float balance (CAD or USD).
3. Earn market-leading interest rates
Every dollar counts from day one. Earn 2.5% yield if your balance is under $50K, and level up to 4% yield on your total balance when it reaches $50K or more—plus 1 % cashback* on card spend.
4. Spend your way
Issue unlimited corporate cards instantly. Pay bills with zero fees. Track expenses automatically. Sync with your accounting software. Access your money anytime.
Fast, free account creation
High yield earnings and smart corporate cards are just a click away.
*1% with over $25k in monthly spending. Contact sales for more information.
“Float Business Accounts combine the best features of a fintech bank, expense management platform and treasury account while giving us up to 4% yield and free EFT/ACH transfers. This is what modern banking should look like.”
Gregory Kalinin
Co-Founder, Holistic Roasters Inc.
Your questions,
answered
Float is a business finance platform here to help save your company time and money. Float is not a bank—we’re a FINTRAC-registered Canadian Money Services Business that counts 5000+ Canadian companies as loyal customers.
Opening an account takes about 15 minutes online. No branch visits, minimal paperwork and you can start earning interest as soon as your account is approved and funded.
Float Business Accounts let you receive and store business funds with account routing details for EFT, ACH and wire transfers. Your accounts earn up to 4% interest with no minimum balance requirements or lockups. Funds are CDIC insured up to $100,000 and held in trust.
You can hold both CAD and USD, with no transaction fees on incoming payments. Business Accounts work alongside your Float Cards and spend management features in a single platform.
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.
When your balance is equal to or exceeds $50,000 (in CAD or USD), you’ll earn 4% annualized interest on your entire balance up to $1M.
When your balance is under $50,000 (CAD or USD), you’ll earn interest at an annualized rate of 2.5% on every dollar, adjusting in tandem with the Bank of Canada’s overnight interest rate.
For example: if your balance in CAD is $60,000 and your USD balance is $5,000 on a given day, you’d earn 4% on your CAD balance and 2.5% on USD on that day.
Interest payments occur on the first day of every month.
Both CAD and USD funds are in trust under your business’s name within dedicated accounts at Tier 1 Canadian banks. This means that in the extremely unlikely event that Float Financial were to go out of business, your funds would remain safe.
In addition, we’ve partnered with a tier 1 CDIC member, regulated Canadian financial institution to offer our customers CDIC insurance of up to $100,000 CAD (combined across both CAD and USD accounts).
Please note: Float is not a bank or CDIC member institution. 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.
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.
Yes, really. We believe in transparent, simple pricing that helps your business grow. That means no monthly account fees, no transaction fees on receiving funds via ACH/EFT or wires, and no fees on sending funds via ACH or EFT.
Float and our partner bank do not charge any fees for receiving funds through SWIFT. However, SWIFT transfers may pass through intermediary banks that can deduct fees before the funds reach your account. The amount you receive can depend on how the sender’s bank instructed the payment (e.g., SHA vs. OUR) and which intermediaries processed the transfer. These fees are outside of Float’s control.
You can receive funds in Float via bank transfer, EFT (CAD), ACH (USD) or wire transfer. Simply share your Float account details with payees or transfer from your existing accounts.
You can then use your Float balance to issue physical and virtual corporate cards in both CAD and USD, or use our bill pay and reimbursement features to transfer money.
You 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 your connected bank account.
To qualify for the $500 Account Opening Bonus, you must be a new Float customer and sign up between September 9 and September 30, 2025 using the referral code BUSINESSACCOUNTS. You’ll need to load and maintain a $10,000 CAD balance in your Float account and complete at least one transaction before October 31, 2025. The offer is limited to the first 150 eligible customers.
Your savings and earnings are calculated as follows:
– Interest: When your balance is equal to or exceeds $50,000 (in CAD or USD), you’ll earn 4% annualized interest on your entire balance up to $1M.
When your balance is under $50,000 (CAD or USD), you’ll earn interest at an annualized rate of 2.5% on every dollar, adjusting in tandem with the Bank of Canada’s overnight interest rate.
– Cashback: 1% on every dollar over $25k in monthly spending
– FX savings: We compare Float’s FX fee (0.25%) vs the average FX fee charged by traditional banks (3%)
– Savings from bank fees: We took the monthly fees of commonly available unlimited business banking products from each of the 5 big banks on September 5, 2025 and averaged them.
Come for the card,
stay for the software
Close books up to 8x Faster
Direct integrations with QuickBooks, Xero, and NetSuite make month-end a breeze.
Pay your bills
Capture, approve and pay bills via EFT, ACH or Wire. Automatic syncs directly to your accounting software.
Swipe and forget
Upload receipts and track expenses on the go via text or the mobile app. Eliminate the need for expense reports.
Spend time and money where it counts
Earn up to 4% interest on your cash balance and simplify business spend with corporate cards and expense management software.
*Trademark of Visa International Service Association and used under licence by Peoples Trust Company.
