Float (Canada) review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Float is a Canadian business account for freelancers and small companies that want cash on call, with a monthly fee of CAD 0 and a minimum deposit of CAD 0. You can withdraw at any time, the rate is variable, and there are no lockups on the balance.
Key facts
- Best for
- Holding business cash where you can reach it, with no monthly fee and no minimum balance.
- Rate type
- Variable↗
- Minimum deposit
- CA$0↗
- Access terms
- No lockups, no minimum balance, 100% liquidity, withdraw any time by contacting support↗
- Monthly fee
- CA$0↗
- Account kind
- Easy access↗
- Legal entity
- Float Financial Solutions Inc.↗
- Headquarters
- Canada↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- floatcard.com
Pros and cons
Pros
- A monthly fee of CAD 0 and a minimum deposit of CAD 0 make the account cheap to keep open.
- Transfer fees run $0 for EFT and ACH; 0.25% FX conversion fee, with delivery in 1 business day.
- No lockups and full liquidity, so a withdrawal is arranged by contacting support whenever you need it.
- FINTRAC money services business registration in Canada, listed as M23497654.
Cons
- Only 2 currencies are supported, so multi currency balances stay limited.
- The rate is variable, so what your balance earns can move rather than stay set.
- A withdrawal runs through a support request, which suits planned transfers more than instant ones.
Who it suits
- Freelancers and small companies in Canada that pay out to a bank account or a wallet.
- Anyone keeping operating cash accessible, since there are no lockups and the minimum deposit is CAD 0.
- People who want help by phone, chat, email and a help centre, listed under email, chat and phone.
Who should look elsewhere
- AXI Card Tarjeta y Credito, where the rate is fixed and you may prefer a rate set in advance.
- Plazo ES, which also has a fixed rate and pairs it with card spending rather than bank and wallet payouts.
- PayPal Colombia, whose minimum deposit is $0 and which suits a wallet balance more than a business account.
Fees and currency costs
Float's business account carries a monthly fee of CAD 0 and a minimum deposit of CAD 0, so you can open it and hold a balance without putting money down first. Both lines are free, which makes the account a straightforward place to park operating cash before you spend or send it. Nothing in these costs changes with the size of the balance.
How Float (Canada) compares
9.5 vs 8.6
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9.5 vs 9.1
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9.5 vs 8.7- 9.5 vs 8.0
9.5 vs 9.0
9.5 vs 8.1
9.5 vs 8.7
9.5 vs 8.0
9.5 vs 9.5
9.5 vs 9.4
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9.5 vs 9.2
9.5 vs 9.0
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9.5 vs 8.5
9.5 vs 8.5
9.5 vs 8.5
9.5 vs 8.4
9.5 vs 8.3
9.5 vs 9.0
Where Float (Canada) is available
- Available
- Canada
- Licence in Canada
- FINTRAC (money services business registration) (M23497654), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does a Float business account cost to run?+
The monthly fee is CAD 0 and the minimum deposit is CAD 0, so there is no charge for keeping the account open and no floor on what you hold. You can start it with whatever balance you want accessible, and the cost does not rise as that balance grows.
Can I get my money out whenever I want?+
Yes. Float publishes no lockups and full liquidity on its business accounts, and a withdrawal is arranged by contacting support at any time. Because the account is easy access, the balance stays available instead of being tied to a term, and you choose when to move it.
What does it cost to send or receive money?+
Transfer fees run $0 for EFT and ACH; 0.25% FX conversion fee, and delivery takes 1 business day. In practice that means same currency movements by electronic transfer cost nothing, while converting between the 2 supported currencies adds a small fee on the amount converted.
Is Float regulated?+
Float is registered with FINTRAC as a money services business in Canada, and the registration is listed as M23497654. The account is run by Float Financial Solutions Inc., a Canadian company, so the regulatory check to make is the one that applies to money services businesses rather than a bank account.
What rate do I get on my balance?+
The rate on Float is variable, so it is not locked for a term. That suits people who want their business cash available and are comfortable watching what it earns rather than fixing a return in advance.
Which currencies can I hold and pay in?+
Float supports 2 currencies, and the account is built for business money rather than a wide travel wallet. Converting between them carries a rate margin of 0.25%, which sits well under the 2.08% rate most of the market charges.
How fast are transfers and payouts?+
Delivery of a transfer runs 1 business day, and money can be paid out to bank and wallet. Support is available through email, chat and phone, so a planned transfer or a payout question can be handled by a person rather than left to a help article alone.
Who is Float aimed at?+
Float is built for business balances in Canada, which its headquarters country CA reflects. It suits freelancers and small companies paying out to bank and wallet rather than people shopping for a set rate on a long term.
Sources
- floatcard.com checked September 26, 2026
Backs: Legal entity, Rate type
“Float Financial Solutions Inc. ("Float") is a financial technology company registered with FINTRAC as a money services business (M23497654).”
- floatfinancial.com checked September 26, 2026
Backs: Headquarters, Licences
“1000-119 Spadina Avenue Toronto, ON M5V 2L1”
- floatfinancial.com/business-accounts checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Pricing model, Monthly fee
“No lockups, and this isn't a GIC. Customers can easily withdraw funds by contacting our Support team”
- floatfinancial.com/foreign-exchange checked September 26, 2026
Backs: Exchange rate markup
“Float FX charges an FX fee of 0.25% (90% cheaper than traditional banks) with no hidden fees or additional markups”
- floatfinancial.com/pricing checked September 26, 2026
Backs: Currencies, Delivery time, Payout methods, Support channels, Transfer fee, Fee to send 1,000
“Card currencies: CAD, USD”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Headline rate, Term, Deposit protection.
Related by the facts
Float (Canada)
Holding business cash where you can reach it, with no monthly fee and no minimum balance.