How to Apply for the Float Corporate Card

The Float corporate card is designed for Canadian businesses that need modern spend controls, real-time visibility, and strong accounting automation. Since it is a business card not a personal credit card,the entire application process focuses on company information and does not require a personal credit check or personal guarantee. Below is a complete guide on how to apply, who it is best suited for, how cancellation works, and additional resources to help you get started.

How to Apply for the Float Card

1. Start on Float’s official website
Create your business account directly on the platform. You’ll need basic company information such as the business name, address, operating structure, and number of employees.

2. Submit business financial details
The next step is providing Float with financial information used for underwriting:

• Annual revenue
• Cash flow
• Bank statements or business transaction history

Approval for the prepaid plan is almost instant. For the charge card, underwriting is based on business performance—never on personal credit.

3. Choose your preferred funding model
Float offers two operational formats:

• Prepaid: funds are deposited in advance
• Charge Card: spend now and repay in full every billing cycle

The business can switch models later if approved for credit.

4. Create employee cards and set controls
Once approved, you can issue physical and virtual cards, assign limits, restrict merchant categories, and configure approval workflows.

5. Connect to your accounting platform
Integrate Float with QuickBooks Online, Xero, Sage Intacct, or NetSuite to sync transactions, receipts, and categories automatically.

Who the Float Card Is Recommended For

Float works best for businesses that value visibility, controls, and simplified bookkeeping. It is especially recommended for:

• Small and mid-sized companies seeking modern spend infrastructure
• Teams with distributed purchasing needs (marketing, operations, IT, HR)
• Businesses paying vendors or software subscriptions in USD
• Companies that want automation for receipts, coding, and reconciliation
• Organizations that prefer avoiding personal guarantees
• Finance teams aiming to eliminate manual expense reporting

It may not be ideal for businesses that rely heavily on long-term revolving credit or travel reward programs tied to personal credit cards.

How to Cancel the Float Card

Cancellation can be completed through the online dashboard:

1. Sign in to the Admin account
2. Pause or deactivate all physical and virtual cards
3. Open Billing & Subscription
4. Request cancellation of the subscription

Prepaid balances can be refunded, and all charge card balances must be fully paid before closing the account. Enterprise customers may need to coordinate cancellation directly with their account manager.

Tips Before Applying

• Check which plan fits your growth stage. Many small teams start with the free Essentials plan and upgrade later.
• Confirm whether your business qualifies for the charge card. Revenue and cash flow history improve approval chances.
• Use the USD wallet if you have recurring software expenses. It avoids repeated 2.5% FX fees common in Canadian cards.
• Create virtual cards for specific vendors. This prevents unauthorized spending and makes reconciliation easier.
• Activate accounting integrations early. They significantly reduce month-end work.
• Set clear internal approval flows to avoid rogue spend as the team grows.

FAQ

1. Does Float check personal credit?
No. Float does not pull or use personal credit scores for approval.

2. Is there a personal guarantee?
No personal guarantee is required for the charge card.

3. Can new businesses apply?
Yes, but very new businesses may only qualify for the prepaid option until more financial history is available.

4. Does Float offer rewards?
Rewards are simple cash-back benefits depending on plan level. They do not connect to airline or travel loyalty programs.

5. How long does approval take?
Prepaid access is typically immediate. Charge card approval varies depending on documentation and revenue history.

Conclusion

The Float corporate card delivers a modern and flexible way for Canadian businesses to manage spending, control employee purchases, and simplify accounting. With the choice between prepaid funding and a charge card model, companies can select the structure that best matches their cash-flow needs,without personal credit checks or personal guarantees. Features like USD cards, real-time controls, receipt automation, and integrations with major accounting platforms make Float especially valuable for teams looking to reduce administrative workload and gain clearer financial visibility.

For businesses that prioritize cleaner books, stronger oversight, and streamlined expense management, Float is a strong solution worth testing,starting with the free plan and scaling as operational needs grow.

You will be redirected to the bank’s website