Float follows standard EFT rails in Canada. Once a transfer has been initiated (automatically OR manually), your funds will take 3 or more business days to arrive in your float account.
Canada's banking system currently lacks Real-Time Rail payment systems and open banking. This prevents payments from operating 24/7, leading to longer transfer timelines.
In the meantime, we recommend leveraging the auto funding feature to preset a minimum balance threshold that triggers a top-up once your team's spending falls below the threshold. This prevents your team from running out of spend!
Related: What is auto-funding and how to enable it?
Float also offers an innovative Fast Funding product that allows access to your funds sooner than the current 3+ business day EFT timeline. This is offered to qualifying businesses by default, and your funding timeline status can be viewed on the Banking > Funding page in your Float account.
Read more here: Fast Funding FAQ ⚡️
If your business is yet to be added to our fast-funding product, please reach out to firstname.lastname@example.org your dedicated Float account representative or email@example.com, and we'd be happy to help assess your business!