Float Corporate Card Review 2025
Float offers convenient virtual and physical corporate cards for small businesses in Canada. It is Canada's first smart corporate card with an integrated spend management software that streamlines the management of business expenses.
If you’re signing up for Float, use to receive $250 back after making your first $1,000 of purchases within 180 days.
Float Corporate Card Review Summary
Here’s a quick summary of our Float Corporate Card review. Read the full article below for details.
Float Overall Score - 4.5 / 5
is a good choice for businesses in Canada that need a credit card but haven't yet built up enough credit score to qualify for a traditional credit card.
Float is a suitable option for small and medium-sized businesses that want to streamline payment workflows and save time by automating some of their bookkeeping. Its receipt capture and accounting system integrations are great solutions if you’re finding bookkeeping and/or your expense report processes to be a challenge.
We do recommend trying out Float, especially for small businesses. Applying only takes a few minutes and your business can get approved in 1-3 business days.
Cost
Float’s Essentials plan is free. This basic plan still allows you to use the spend management solution, accounting software integration, and unlimited virtual cards! You can also request up to 20 physical cards for free and at no annual fee.
The Professional plan is $100/month for up to 10 users. This premium plan lets you create an unlimited number of physical and virtual cards and unlocks more features to better manage your organization.
Float Promo Code for $250 Cashback
If you sign up now through our 👈 and when you sign up, you will receive $250 cashback after spending $1,000 through the platform within the first 180 days.
Usability
Float’s intuitive web and mobile applications provide easy navigation, oversight of all transactions, and the ability to manage purchase approvals and document requests in real time.
The Essentials plan gives you access to features that are easy to learn. The Professional plan includes a “Personalized Onboarding” feature where a representative will help you get started with all of the features.
What is the Float Corporate Card?
Float offers Canadian businesses virtual and physical Visa cards paired with smart spend management software. You can create unlimited virtual cards instantly, name them by vendor or purpose, and even limit them to specific merchants or amounts.
Physical cards are available too. Float includes up to 20 free physical cards on their Essentials plan and unlimited physical cards on their Professional plan.
Float cards are backed by your business, not your personal credit. That means no personal guarantee is required, and there's no hard credit check. For well-funded businesses, limits can go up to $1 million depending on your financials.
You can use Float cards in both CAD and USD. If you’re spending in U.S. dollars often, Float’s USD card helps you skip the typical ~2.5% foreign transaction fee most Canadian cards charge. You can also hold USD in a Float wallet and pay U.S. vendors directly without needing a U.S. bank account.
Businesses of all sizes have to deal with the difficulties of managing their expenses. For business owners and their finance teams, managing funds and purchase approvals can be a challenge.
For employees tasked with making purchases, the approval process can be a challenge as well. They may be required to purchase items out of pocket, reimbursements can be delayed and receipts may be lost.
Float Corporate Card aims to solve these issues by offering businesses in Canada a card with integrated spend management software. This lets businesses allocate funds to cards and approve expenses even before the purchases are made.
How Does the Float Card Work?
Float aims to build the smartest corporate card for businesses. It streamlines business spending, expense tracking, and reporting by giving customers the best combination of accessibility, management, and automation.
The general steps to getting started with Float’s Visa card are:
- Apply - Submit a 5-minute application and get approved in as little as one business day. Use for $250 back after spending $1,000 within the first 180 days.
- Get Approved - Most businesses get approved within 1 business day of applying.
- Choose Your Card Type – Issue unlimited virtual cards or order physical ones. You can even request USD cards to avoid foreign transaction fees on U.S. purchases.
- Fund or Float – Pre-fund your account or, if eligible, apply for Float’s charge card to access credit terms up to 30 days.
- Spend & Track – Use your cards anywhere that major credit cards are accepted. Every transaction is visible in real-time with receipts matched automatically.
- Set Rules & Approvals – Customize card limits, assign cards by team, and set up approval workflows to control spending before it happens.
Float also offers reimbursements and bill payments inside the platform, so you can handle non-card expenses like vendor EFTs and employee reimbursements, all from your Float dashboard.
Accessibility
Applying for a business credit card may include a credit approval process that can be tedious and restricting, resulting in a potentially low credit limit for your business. In addition, most corporate cards in Canada require a personal guarantee for businesses with limited credit history.
With Float Financial’s Visa Card, small businesses have easy access to business cards through an online application, without the long wait. Apply in five minutes and get approved within three business days without personal guarantees or personal credit checks.
Float also has a Charge Card product, offering qualifying customers 15 or 30-day unsecured credit terms with high limits and easy early repayment methods. More on this option below.
Management
Float Card is integrated with impressive software that delivers powerful management capabilities. It enables you to organize spending, tracking, and reporting in one place.
- Create Unlimited Virtual Cards - Create as many virtual cards as you like. These cards are mainly used for online subscriptions, one-off expenses, or other online transactions.
- Physical Credit Cards - The Essentials Float Card plan lets you order up to 20 physical cards while the Professionals Float Card plan lets you create an unlimited number of physical cards to be used within your business.
- Customize Card Type - Set the credit limit for each card and decide whether it is a Single-use or Recurring card. Recurring cards allow you to set a monthly spending limit.
- Assign Specific Attributes - You can allocate card(s) to different teams within your organization and assign specific cardholders. Further customize cards by creating a name and description for each card, set purchase amount limits, or limit purchases to specific vendor(s). You can also assign accounting and sales tax codes and add custom tags to each card.
- Require Receipts - Reduce administrative time with Float’s receipt-upload feature. Decide whether the card requires the user to upload a receipt after every transaction or not. You can set an auto-lock on the card if receipts are not being uploaded after purchase. Your finance team may just love this feature.
- Access Transactions in Real-Time - The integrated management software can be accessed through the web application or mobile app.
Check out an interactive. You can see all of the useful features and find out if your business could benefit from using Float Visa.
Automation
What sets apart Float Credit Card from other credit card providers is its integrated software that will automate your expense management.
- Automated Receipt Reminders - Float can send reminder emails to cardholders when receipts aren’t uploaded for purchases.
- Automatic Receipt Capture and Matching - Eliminate the manual process of collecting receipts, calculating tax, and accounting for transactions. Every transaction is synced with the software in real-time, saving you and your bookkeeper time!
- Automatic Top-ups - You can configure your Float account to receive funds from your bank account automatically when your Float Card balance falls below a certain level.
Float Credit Card Fees and Costs
Float Card has two available plans: Essentials and Professionals.
Essentials Plan - $0/month
The Essentials plan is $0 per month. This basic plan is tailored for smaller businesses that have fewer cardholders (1-20) and that only require basic approval processes.
- Unlimited virtual cards
- Up to 20 free physical cards
- Real-time spend tracking
- Basic approval workflows
- Direct integrations with QuickBooks and վ
- CAD reimbursements
Great for startups or smaller teams getting their spending organized.
Professionals Plan - $100/month (for 10 users)
The Professionals plan has a 90-day free trial and costs $100 per month for 10 users after the trial ends.
- Everything in Essentials, plus:
- Unlimited physical cards
- Multi-level approval workflows
- USD reimbursements
- Bill payments to vendors (EFT/ACH/Wire)
- Slack and email approval notifications
- Advanced support and onboarding
This plan works well for medium to larger-sized businesses that need more physical cards and that require multiple transaction approval levels.
The Professionals plan features advanced spend management capabilities that are not available in the Essentials plan such as multi-level approval workflows and the ability to assign and manage cards over multiple teams.
Benefits of Using the Float Corporate Card
There are numerous options out there for virtual credit cards you can use in your business. However, most of them are tailored for individual cardholders. They operate without the features that specifically benefit small businesses. Float Card helps small businesses in Canada by providing the following benefits:
No Personal Credit Check
Because Float is not technically a debt product, no credit checks are required. This means that an early stage business can apply and get approved in as little as one business day.
Boosts Your Spending Capability
With Float’s innovative solution, you’ll see much higher spending limits than with traditional credit card providers. Float Visa cards operate on a prepaid model and have a spending limit of up to $1,000,000 as long as you’re able to fund your Float account with sufficient funds.
Whether you have small recurring purchases such as online subscriptions or high-value purchases such as purchasing equipment, Float Card has got you covered. The maximum limit per transaction is $100,000.
Earn Interest and Cash Back
You can also earn up to 4% interest on cash that is held within your Float Yield account. This means that when you’ve funded your account and are waiting to make purchases, you’ll earn a decent amount of interest in the meantime.
- Float offers up to 4% interest on your idle CAD or USD funds stored in Float
- Earn 1% cash back on all card spend over $25,000/month
Create Virtual Cards Instantly
Float lets you create an unlimited number of virtual cards for the numerous online purchases that are the norm for small businesses these days. These are accepted the same as any standard Visa card and can be physically used at any physical point of sale that accepts mobile wallet payments (tap) or for online purchases.
Using virtual cards can also help to secure your company credit card information. Virtual cards can be generated and used for one-time purchases or easily canceled and replaced in the event of a security breach.
Small businesses can also make use of physical cards for real-world purchases, anywhere Visa (CAD cards) or Mastercard (USD cards) are accepted.
Powerful Credit Card Management
Float’s corporate cards deliver smart supervision, tracking, reporting, and protection of your company’s finances.
- Credit Limits - Set different credit credit limits for any given card.
- Expiry Dates - Choose when virtual cards are set to expire.
- Vendor Limits - Limit a card to be used only for a specific vendor or vendors.
- Card Names - Include a card name, description, purpose, and tags for easier management.
- Single-use Virtual Cards - Create single use virtual cards. This can be a great option if you need an employee to make one purchase on behalf of the business.
- Receipt Requirements - Set receipt requirements for transactions so that cardholders are required to upload receipts through the app or via text when purchases are made.
- Cardholder Requests - Card holders can request a top-up, limit increase or funding top-up through the web application or mobile app.
- Multi-level Approval Workflows - The Professionals plan lets you create multi-level approval workflows compared to the Essentials plan’s single-layer approval workflows. This allows you to set more than one approval requirement for large purchases.
- Manage Teams - With the Professionals tier, you can also create multiple teams and managers for better cost tracking and approval workflows.
- Approval Notifications - Approvers will be notified of the requests via email (Essentials plan). The Professionals plan also offers approval notifications via the Slack integration.
- Spending Oversight - Monitor credit card activities through the Float software.
- Accounting Automation - One-click export to your favourite accounting software (we like this!).
Integrated Accounting Software
Save hours of manual bookkeeping with Float’s easy export to your favourite accounting software. Both the Essentials (basic) and Professionals (premium) plans offer integrations with վ, QuickBooks and Netsuite.
If you use Sage Intacct, Float offers custom CSV exports designed to match your chart of accounts and import cleanly into your accounting software.
Float doesn’t currently integrate with FreshBooks, but you can still export CSV files and import them manually if needed.
No Foreign Transaction Fees
When Float first launched, they offered “no additional fees on foreign exchange transactions.” This allowed Canadian businesses to spend in USD and be confident that they wouldn’t need to pay any additional fees.
In November of 2022, Float had introduced its USD corporate cards which led them to change this policy.
Starting November 14, when you make a purchase in a currency that’s different from the denomination on your Float card, you will incur a 1.5% foreign transaction fee.
Then in April of 2025, Float launched that allows businesses to exchange funds between USD and CAD directly in the platform at up to 90% lower fees than traditional banks. A month later, they also announced that foreign transaction fees would increase to 2.5%.
The good news is that it only takes a few clicks to apply for a USD Float Card.
Login to your Float account and navigate to the “Funding” section. Click “Apply for USD” and you’re off to the races!
Using the USD card for USD purchases and CAD card for CAD purchases will allow Canadian businesses to avoid foreign transaction fees altogether.
Cashback on Purchases
Float brings you a straightforward cashback program: 1% cashback on every dollar you spend over $25,000 per month.
Better Spend Visibility = Faster Bookkeeping
We’ve also found that implementing Float can increase your bookkeeping efficiency.
- Real-time transactions with receipt matching
- GL codes, tags, tax rules, and export-ready data
- One-click sync with վ and QuickBooks
- Export options for NetSuite and Sage
Your bookkeeper might actually thank you.
Drawbacks to Using the Float Card
Limited Physical Cards
The Essentials plan is limited to 20 physical cards. This is usually fine for many small businesses. If your business needs more than 20 physical cards, you’ll want to subscribe to the Professionals plan instead.
However, in contrast to other business credit cards that may charge you an additional fee for each supplementary card, Float provides up to 20 cards for free.
Need to Have the Cash in Advance
The typical credit card model lets you make the purchase first and then pay off the card with cash afterwards. If you pay the balance on time, no interest is charged. If you carry a balance, you’ll pay the high interest charges of around 20%.
Unlike traditional credit cards, Float operates primarily on a prepaid model. You will need the cash on hand to fund your Float account before making purchases with your Float Visa or Mastercard.
One positive aspect of this is that you will never carry a balance on your credit so you won’t be charged any credit card interest.
In 2022, Float helped mitigate this issue by offering a Charge Card product, offering qualifying customers 15 or 30-day unsecured credit terms with high limits and easy early repayment methods.
You can learn more about the Float Charge Card option below.
Float Charge Card
Float realized that the pre-paid model isn’t the best option for everyone, so they introduced a charge card product to solve this issue.
Don’t want to pre-fund your cards?
gives you access to high-limit, interest-free credit terms.
- No personal guarantee
- 15 to 30 day terms
- Limits of $500k+ (some up to $1 million)
To qualify, you’ll need:
- To be a registered Canadian business (partnership or corporation)
- At least $10k+ in monthly card spend
- Around $100k+ in available cash or equivalents (like GICs)
- 12+ months in business or consistent revenue/profit
Once approved, you can access much higher limits than traditional credit cards, without tying up your cash.
Float USD Card
Need to pay vendors or SaaS tools in USD? Float’s got you covered.
- Issue USD virtual or physical cards
- No foreign transaction fees when spending in USD
- Connect your CAD or USD business account and fund your USD Float wallet
- FX conversion at a market-leading 0.25%
You can also pay U.S. vendors by card or ACH transfer, and reimburse U.S. employees, all without needing a U.S. bank account.
To apply, just login to your Float account and navigate to the “Funding” section. Click “Apply for USD.”
The application process for Float’s USD card only takes 5 minutes and will save you from paying any exchange fees on USD transactions.
Float Credit Card Promotional Code - $250 Cashback
Receive $250 cashback when you sign up to Float and spend your first $1,000. to receive this benefit.
Float CorporateCard FAQ
What is Float Financial?
Float Financial is a Canadian financial tech startup providing smart corporate credit cards and integrated spend management software.
The Float Financial Visa card is a great option for small and medium sized businesses in Canada that need a modern credit card that offers easy oversight into business spending.
How does Float card work?
Float cards can be either physical or virtual cards. The physical Visa cards and Mastercards can be used for real world purchases just like traditional credit cards. Virtual cards can be created and customized on-the-spot to be used for online or over-the-phone purchases.
Float primarily uses a prepaid model and isn’t a debt-based product. You’ll fund your Float card account from your business bank account and start making purchases.
Float also features an integrated, intuitive spend management software. This helps manage and track purchases, create and delete cards, and automate your business spending.
Does Float have a limit?
Float's corporate credit cards can have a maximum limit of up to $1,000,000 as long as you have sufficient cash in your business bank account to fund it.
Purchase limits are quite high at $100,000 per purchase.
Is Float Visa legit?
Float Financial Solutions Inc. is a Toronto-based fintech company founded in 2019. They are backed by Golden Ventures, Tiger Global, Garage Capital, Susa Ventures, and have senior executives formerly from Uber, Shopify, and Wealthsimple.
We also use Float at վ and can attest to its legitimacy!
What information do I need to apply for a FloatCard?
You will need to provide your legal business name and personal information such as your home address and date of birth.
Float does not do any hard credit checks but you will need to validate your identity by providing ID and a copy of some mail confirming your address.
Does Float integrate with Accounting Software?
Yes - Float’s free basic plan can work with վ, QuickBooks and Netsuite.
How does Float cashback work?
You will receive 1% cashback for every dollar you spent above $25,000 per month.
Does Float charge FX fees?
Yes and no.
Float charges a 2.5% FX fee if you make a foreign currency purchase using a card that doesn’t match the currency (e.g., USD purchase on a CAD card).
But if you use a USD Float card, there are no foreign transaction fee for USD spend using this card.
Float also has an FX product that allows customers to convert funds from CAD to USD (and vice versa) at a 0.25% FX fee without any hidden markups or additional fees..
What is the best Float referral code?
The best referral code for Float card gets you $250 cashback when you spend $1,000 within the first 180 days of signing up. Use this for the best currently available Float Financial promotion.
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