Float · Banks
Float Business Account review
Float pays one of the strongest standard rates for Canadian business cash: a flat 2.5% on every dollar in CAD and USD, with no fees, minimums or lock-ups. It suits businesses that want interest on operating cash plus corporate cards and spend management in one platform, though it’s online only.
Who Float is best for
Businesses holding CAD and USD cash and teams that also want corporate cards and spend management.
Businesses that need branches or cash deposits.
Float pays one of the strongest standard rates for Canadian business cash: a flat 2.5% on every dollar in CAD and USD, with no fees, minimums or lock-ups. It suits businesses that want interest on operating cash plus corporate cards and spend management in one platform, though it’s online only.
Fees, features and eligibility
| Standard interest | 2.5% standard on all CAD and USD balances |
|---|---|
| Fees | C$0 a month |
| Currencies | CAD, USD |
| Access to funds | No lock-ups; withdraw any time |
| Deposit protection | Funds held in trust at CDIC-member institutions |
| Eligibility | Canadian businesses |
Source: Float published product information.
What stands out
Pros
- Flat 2.5% on CAD and USD balances
- No monthly fees, minimums or lock-ups
- Corporate cards and spend management in the same platform
Cons
- Online only
- Promotional boosts come and go, so check current offers
Float: common questions
What interest does Float pay?
A standard 2.5% on all CAD and USD balances, with no minimums or spending thresholds.
Does Float charge monthly fees?
No. Float Business Accounts have no monthly fees, minimums or lock-ups.
How are Float balances protected?
Float holds CAD and USD funds in dedicated trust accounts at CDIC-member institutions, separate from Float’s own funds.
Used Float? Help other businesses choose.
