Float vs Ramp Canada (2026): Which Card Wins

Only weighing Ramp? Our Ramp credit card in Canada review covers who qualifies, what it costs and the US$500 offer on its own.

The verdict

Pick the one you qualify for

Both are free to start and neither asks for a personal guarantee, so eligibility decides it. If every Ramp line is true, take Ramp. If any Float line is true, take Float.

All must be true

• A registered corporation
• CA$25,000 or more across connected bank accounts
• Registered outside Quebec and the territories
• You want 1% cashback from the first dollar and spend automation

Through our link

US$500 after US$1,000 of card spend

Apply for Ramp

Any one is enough

• A sole proprietor, or under CA$25,000 in the bank
• Registered in Quebec or a territory
• You want interest on idle cash: 2.5% on CAD, 2.75% on USD
• You pay bills by EFT from CAD and USD balances

Through our link

Float Professional free for 12 months

Apply for Float

Comparing Ramp with a business bank account instead? Read Ramp vs Venn for Canadian businesses.

Corporate cards have replaced traditional expense reports for modern Canadian businesses. Instead of employees fronting personal purchases and submitting receipts, corporate cards let you issue virtual and physical cards with built-in spending limits, receipt capture, and automatic accounting software sync.

Float and Ramp are the two standout options for Canadian businesses in 2026. Both offer no-fee corporate cards with cashback, but they come from very different starting points, and that difference matters for Canadian operations. For the full category overview, see our spend management comparison page.

Float: Built for Canadian Businesses

Float is a Canadian-built spend management platform headquartered in Toronto. It is designed from the ground up for Canadian businesses, which means CAD-denominated accounts, Interac e-Transfer funding, Canadian banking integrations, and a team that understands CRA compliance.

Key features:

• 1% cashback only on card spend above $25,000 a month in each currency (CAD and USD)
• 2.5% interest on CAD and 2.75% on USD balances, calculated daily and paid monthly (variable rates), so idle cash earns from the first dollar
• 0.25% to convert between CAD and USD inside the account; a CAD card used for a USD purchase pays 2.5%, so convert first and spend on the USD card
• Unlimited virtual cards, plus up to 20 physical cards on the free Essentials plan and unlimited physical cards on Professional; physical cards arrive in 5 to 10 days
• No personal guarantee or credit check to open an account; cards are pre-funded (prepaid) from your Float balance, and Float Charge credit is a separate approval for corporations and partnerships
• Xero and QuickBooks integration, transactions sync with category coding
• Receipt capture via mobile app, employees snap receipts at point of purchase
• Spend policies, set per-card or per-category limits, require approvals above thresholds (multi-level approvals and custom policies need Professional)

Pricing: Essentials is $0 per user per month (up to 20 physical cards, unlimited virtual cards). Professional starts at $100 a month, which includes the first 10 active users, then $10 per additional active user, billed month to month, and it is free for 12 months through our partner link. No per-card fees.

Ramp: The US Spend Platform, Now Open in Canada

Ramp is a US-based corporate card and spend management platform. It opened to all eligible Canadian businesses on July 28, 2026, with CAD and USD Visa charge cards issued by Peoples Trust Company, and it brings some of the most advanced AI-powered expense management features available. Ramp says most Canadian applications are reviewed within about a week once all documents are submitted.

Key features:

• 1% cashback on all eligible purchases from the first dollar on CAD and USD cards, where Float's 1% applies only above $25,000 of monthly spend per currency
• AI coding for every field and AI-driven expense reviews on Ramp Plus; the Free plan has basic accounting rules, tax tracking and automatic receipt matching
• Duplicate spend detection, identifies overlapping software subscriptions
• Price intelligence, alerts you when you are overpaying vs market rates
• QuickBooks Online and Xero sync on the Free plan; NetSuite and Sage Intacct need Ramp Plus
• Bill pay, invoice capture and approvals, paid by EFT from a connected CAD bank account, with USD, EUR and GBP vendors paid from that CAD account and converted automatically

Pricing: The Free plan is CA$0 per user per month; Ramp Plus is CA$15 per user per month plus a platform fee based on team size, billed annually, with a 30-day free trial. Eligible corporations get US$500 after US$1,000 of card spend through our partner link.

Head-to-Head Comparison

The Canada Factor: Why It Matters

On paper, Ramp's cashback from the first dollar (1% uncapped, where Float's 1% starts above $25K per currency) makes it look like the obvious choice. But for Canadian businesses, the practical differences are more nuanced.

Currency: Both now issue CAD and USD cards to Canadian businesses. Float holds both currencies in one account, converts between them at 0.25% inside the account, and pays 2.5% on CAD and 2.75% on USD; a Float CAD card used for a USD purchase pays 2.5%, so the saving comes from converting first and spending on the USD card. Ramp's CAD statement is debited from your Canadian bank account and its USD statement from a USD account you connect; a CAD card used for a USD purchase carries a foreign exchange fee, and Ramp Bill Pay must be funded from a CAD bank account.

Banking integration: Float links to your existing Canadian bank account to top up your Float balance, which funds the cards and pays bills; paying bills straight from a connected bank account, which takes 3 to 5 business days to send, needs Professional. Ramp's Canadian bill pay pays vendors by EFT from a connected CAD account, with payments typically clearing in 2 to 3 business days.

Balance yield: Float pays 2.5% on CAD balances and 2.75% on USD balances (as of September 25, 2026, variable). Float Bill Pay also pays CAD and USD vendors by EFT or ACH with no payment fees, sent in 1 to 2 business days from your Float balance (wires cost CA$20 each), so vendor payments and card spend live in one platform. If you maintain a $50,000 CAD balance (common for businesses spending $20-30K/month), that is roughly $1,250 a year in interest, which covers the 1% Ramp pays on the first $25,000 of monthly spend only when your spend is around $10,000 a month or less.

Support: Float is headquartered in Toronto. Ramp does not publish a Canada-specific support team or support hours, so ask before you commit if that matters to you.

Business Account vs Corporate Card: The Underlying Difference

Underneath the feature list, Float and Ramp are different kinds of product. Float is a Canadian business account with cards; Ramp is a charge card and spend platform on top of the bank account you already have. Float holds CAD and USD in one account, pays vendors in both by EFT, converts between them at 0.25% inside the account, and pays interest on both currencies. Ramp pays no interest on Canadian balances (its Treasury product is for US customers), and its Canadian bill pay must be funded from a CAD bank account, so a business that wants its cash, its payables and its cards in one Canadian account keeps more of its day-to-day money movement inside Float. Float’s account runs beside a bank account rather than replacing it, though: Float’s help centre says it does not support pre-authorized debits, so it cannot fund payroll or pay utilities that debit an account, and it does not handle cheques or send Interac e-Transfers.

Regulatory standing. Float states the registrations a Canadian business expects from a financial provider: a money services business registered with FINTRAC (M23497654) and a payment service provider registered with the Bank of Canada, with client funds held in trust at Scotiabank and eligible for CDIC coverage of up to $100,000 combined across CAD and USD (Float itself is not a bank or a CDIC member). Ramp does not hold your operating cash in Canada: its Visa cards are issued by Peoples Trust Company and repaid from your own bank account, and Ramp Business Corporation is registered as a payment service provider with the Bank of Canada.

Where Ramp wins. None of this makes Ramp the wrong choice, it makes it a different one. Ramp’s spend automation, controls and integrations are the deepest in this comparison, it pays 1% on every dollar of card spend where Float pays nothing below $25,000 a month per currency, and a corporation that keeps its cash at its bank gives up nothing by skipping Float’s account. Ramp also carries the signup offer: US$500 after US$1,000 of card spend. Net: if you qualify for Ramp and card spend is your bigger number, Ramp; if idle cash is your bigger number, or you do not qualify, Float.

Our Recommendation: Pick by Eligibility

Pick Ramp if you are a registered corporation with CA$25,000 or more across connected bank accounts, registered outside Quebec and the territories, and you want spend automation and 1% cashback on card spend from the first dollar. That usually means a funded startup or an established corporation with staff on cards. Eligible corporations get US$500 after US$1,000 of card spend through our link, and Ramp says most reviews take about a week once documents are in.

Pick Float if you are not eligible for Ramp (a sole proprietor, or under CA$25,000 in the bank), if your business is registered in Quebec or a territory, if you want interest on idle cash (2.5% on CAD, 2.75% on USD), or if you want bill pay by EFT from a Canadian business account that holds both currencies. Float’s Professional plan is free for 12 months through our link.

If you qualify for both, compare the two numbers in the yield section below: Ramp’s 1% on the first $25,000 of monthly spend is worth up to $3,000 a year in each currency, and Float’s 2.5% on a $50,000 CAD balance is worth about $1,250 a year. Weighing Ramp against a business bank account rather than Float? See Ramp vs Venn for Canadian businesses.

Both platforms are free to start. If you are currently managing expenses with personal credit cards or traditional corporate cards from your bank, switching to either Float or Ramp will save time and money immediately; what the big banks’ business cards ask of a new company’s owners is covered in Float vs Amex and bank corporate cards. Both offers are laid out on their deal pages: Ramp and Float.

Does Ramp offer Canadian business credit cards?

Yes. Ramp issues CAD and USD Visa business cards to Canadian corporations, incorporated partnerships and not-for-profits at no additional cost, with 1% fixed cashback on all eligible spend and no personal guarantee or personal credit check. Strictly, the Ramp card is a charge card rather than a revolving credit card: the CAD statement balance is collected by pre-authorised debit from your Canadian bank account, and the limit is sized to the cash Ramp can see, which is why the application requires connected bank accounts showing at least CA$25,000. CAD cards come as physical cards (chip, tap and PIN) and virtual cards; USD cards are virtual only, and a CAD card used for a USD purchase carries a foreign exchange fee, so issue the USD card for US vendors. Sole proprietors and businesses registered in Quebec or the territories cannot apply today (Saskatchewan corporations can); Float's stated requirement is only a legally registered Canadian or US entity that passes verification, any business type included. If you qualify for Ramp, the reader offer is US$500 after US$1,000 of card spend through our link.

Who issues Ramp Canada cards?

Peoples Trust Company issues Ramp's Canadian Visa business cards under licence from Visa, and Ramp Business Corporation is registered as a payment service provider with the Bank of Canada; both statements sit in the footer of Ramp's Canadian pages. Ramp's Canadian product set is cards, Bill Pay and reimbursements, with the card repaid from the bank account you connect; its deposit and investment accounts are US-dollar products (see the yield section below). Float's CAD Visa card is issued by Float Financial Solutions Inc., its USD Mastercard by Thread Bank, and customer funds are held in trust accounts at Scotiabank with CDIC coverage of up to $100,000 combined across CAD and USD; Float is registered with FINTRAC as a money services business (M23497654). For a Canadian business that wants its idle cash and its cards in one place, that is the reason to start with Float; for a business that keeps its cash at its bank and wants a card platform on top, Ramp's issuer arrangement is standard and sound.

What yield does Ramp Canada offer versus Float?

Ramp offers no interest on Canadian-dollar balances: Ramp Treasury is a US-dollar product for US customers (a checking account at 2% APY and an investment account at up to 4.48% net of advisory fee, rates as of September 17, 2026, with FDIC and SIPC coverage), and Ramp's Canadian pages and help centre list cards, Bill Pay and reimbursements only. Float pays 2.5% on every dollar of CAD and 2.75% on every dollar of USD held in a Float Business Account, calculated daily and paid monthly, with no minimum balance and no lock-up; the rates are variable and Float can change them without notice. Searchers still ask whether Ramp matches Float's 4% CAD yield: Float's base rates today are 2.5% on CAD and 2.75% on USD (Float's opt-in 1% Interest Boost closed to new enrolment on August 31, 2026, so a business signing up now earns the base rate), the up to 4% that Float advertised at its September 2025 launch is gone, and Ramp does not match even the base rate on CAD. Put numbers on it: Ramp's cashback edge is 1% on the first $25,000 of monthly spend in each currency that Float does not reward, up to $250 a month or $3,000 a year per currency for a business spending $25,000 or more in that currency; Float's 2.5% earns about $1,250 a year on a $50,000 average CAD balance. The yield argument favours Float when card spend is modest and cash on hand is large, and Ramp when spend is high and cash is parked elsewhere. Float Professional is free for 12 months through our link.

How does Ramp Canada code Canadian taxes (GST, HST, PST, QST)?

Ramp reads the tax off the receipt: its OCR captures GST, HST, PST and QST on Canadian transactions and assigns the matching tax code before the transaction syncs to QuickBooks Online, Xero, NetSuite or Sage Intacct (NetSuite and Sage Intacct need Ramp Plus); you can also apply codes manually or set merchant-based rules, and Ramp's help centre states that automated tax coding is available to Canadian-issued accounts without a paid plan. One tax code applies per transaction, so a BC purchase carrying GST and PST needs a combined GST/PST code set up in your accounting file, and Bill Pay invoices take the same GST, HST or PST codes at the review step. Float codes transactions through its transaction coding agent (Professional plan) and its QuickBooks Online and Xero syncs (NetSuite on Professional), and its support team is based in Canada. Both handle a clean receipt well; the difference a bookkeeper notices is that Ramp's documentation is written for a US product with Canadian additions, while Float's is Canadian from the first page.

Which is better for a 50-person Canadian company that wants cards, bill pay and accounting sync in one platform?

For a 50-person company that operates only in Canada and wants its cash, payables and cards in one account, Float Professional is the better fit, and it is free for the first 12 months through our link; after that it costs $100 a month for the first 10 active users plus $10 for each additional active user ($500 a month at 50 active users), and for that the company gets unlimited physical and virtual CAD and USD cards, multi-level requests and approvals, free EFT and ACH bill pay in both currencies, NetSuite as well as QuickBooks Online and Xero, and 2.5% on the CAD and 2.75% on the USD it holds in Float. For a 50-person company with a US entity, US employees or heavy US-dollar spend, Ramp is the better fit: the Free plan is CA$0 per user with QuickBooks Online and Xero sync, Bill Pay is available to eligible Canadian businesses, and Ramp Plus (CA$15 per user per month plus a platform fee based on team size, billed annually, 30-day free trial) adds NetSuite, Sage Intacct and Microsoft Business Central along with the automation Ramp is known for. The gates decide it before the features do: Ramp needs a corporation outside Quebec and the territories with CA$25,000 in connected bank accounts and funds Bill Pay only from a CAD bank account, while Float's free Essentials plan caps physical cards at 20 and keeps multi-level approvals for Professional.

Ramp vs Venn: is Venn the better comparison?

Not quite, because Venn and Ramp do different jobs: Venn is a Canadian business bank account, while Ramp is a card and spend platform that connects to the bank account you already have, so many businesses outside Quebec run Venn underneath Ramp rather than choosing between them. Float is the closer head-to-head with Ramp because it combines the account and the card platform in one product. We compare Ramp and Venn directly in Ramp vs Venn for Canadian businesses, and the wider field in our business banking comparison.

Ramp alternatives in Canada: who Ramp turns away, and what they use instead

Ramp’s Canadian help centre names four groups it cannot take today. Each one has somewhere else to go:

• Businesses registered in Quebec. Ramp does not support Quebec, for cards or Bill Pay. Float serves every province and territory, Quebec included. Venn is not available in Quebec, so it is not the fallback there; our guide to corporate cards for Quebec businesses covers the other options.
• Businesses registered in Yukon, the Northwest Territories or Nunavut. Ramp does not support the territories. Float does.
• Sole proprietors. Ramp takes corporations, incorporated partnerships and not-for-profits only. Float accepts any business type legally registered in Canada or the US, federally or provincially, once it passes Float’s business verification, and Venn takes sole proprietors and corporations outside Quebec. An unregistered business has to register first for either.
• Businesses with less than CA$25,000 across connected bank accounts. Ramp treats CA$25,000 as a minimum, not a guarantee of approval. Float has no minimum balance and no minimum spend, and Venn lists no minimum account balance on any plan.

Saskatchewan is not on that list: Ramp’s help centre names it among the supported provinces, Bill Pay included. Ramp’s Canadian pricing page still said “Quebec or Saskatchewan” on October 6, 2026; the help centre’s province-by-province list is the more specific source. A corporation that starts on Float or Venn can apply to Ramp once its connected balances clear CA$25,000. Float Professional is free for 12 months through our link, and the terms are on the Float deal page.

Which should you pick?

• A corporation outside Quebec and the territories, with CA$25,000 or more in connected accounts, where card spend is the bigger number: Ramp. It pays 1% from the first dollar of card spend, and our link adds US$500 after US$1,000 of card spend.
• A sole proprietor, a business registered in Quebec or a territory, or a business under CA$25,000 in the bank: Float, which takes all three. Professional is free for 12 months through our link.
• Idle cash is the bigger number: Float, which pays 2.5% on CAD and 2.75% on USD balances (variable). Ramp pays no interest on Canadian balances.
• You run Sage Intacct or Microsoft Business Central: Ramp Plus, which lists both. Float’s live integrations are QuickBooks Online, Xero and NetSuite; it lists Sage Intacct and Microsoft Dynamics as coming soon.
• You want a business bank account rather than a card platform: Venn, outside Quebec. See Ramp vs Venn.
• You qualify for both: put 1% of the card spend Float does not reward (Float pays 1% only above $25,000 a month per currency) next to 2.5% of your average CAD balance, and take the bigger number.

Frequently Asked Questions

Does Ramp work in Canada?

Yes. Ramp issues CAD and USD Visa business cards (Peoples Trust Company) with 1% fixed cashback, plus Bill Pay and reimbursements, to corporations, incorporated partnerships and not-for-profits registered in any province except Quebec (the territories are not supported), with at least CA$25,000 in connected bank accounts.

What do Canadian businesses use if Ramp says no?

Float, for most of them. Ramp's Canadian application page takes corporations, incorporated partnerships and not-for-profits registered in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island or Saskatchewan, with at least CA$25,000 across connected bank accounts, and it needs no US entity. Sole proprietorships, unregistered businesses and businesses registered in Quebec or the territories cannot apply. Float states it serves every province and territory, accepts sole proprietorships registered federally or provincially, and has no minimum balance; its Charge credit line is for corporations and partnerships only. One trade-off if you qualify for both: Ramp pays 1% cashback from the first dollar of card spend, while Float pays 1% only on card spend above $25,000 a month per currency. For the wider list of options, see Brex alternatives for Canadian businesses.

Is Float or Ramp better for cashback?

Both pay 1%: Ramp fixed from the first dollar on CAD and USD cards, Float on monthly spend above $25,000 per currency. Ramp wins on cashback alone; Float's interest on balances (2.5% on CAD, 2.75% on USD) closes the gap when card spend is modest and cash on hand is large.

Do Float or Ramp require a personal guarantee?

Neither does. Float runs no credit check to open an account because its standard cards are pre-funded from your Float balance; Float Charge, its credit line, sets limits on factors that include cash, revenue and past credit history. Ramp runs no personal credit check, requires connected bank accounts showing at least CA$25,000 and sizes the limit to the cash it can see.

Can I use Float and Ramp with Xero?

Yes. Both sync with QuickBooks Online and Xero on their free plans (Float Essentials, Ramp Free). NetSuite needs Float Professional or Ramp Plus, and Ramp Plus adds Sage Intacct and Microsoft Business Central.

How do corporate cards help with bookkeeping?

Corporate cards eliminate manual expense reports. Transactions sync to your accounting software with receipt images attached, spending limits prevent unauthorized purchases, and automatic categorization cuts the time your bookkeeper spends reconciling.

Is there a minimum spend for Float or Ramp?

No. Float has no minimum spend or minimum balance; Ramp has no minimum spend but requires CA$25,000 in connected bank accounts to apply. Both have a free tier (Float Essentials at $0 per user, Ramp Free at CA$0 per user). Ramp pays US$500 after US$1,000 of card spend through our link.

Does Ramp offer Canadian business credit cards?

Yes. Ramp issues CAD and USD Visa business cards to Canadian corporations, incorporated partnerships and not-for-profits, with 1% fixed cashback and no personal guarantee. It is a charge card repaid by pre-authorised debit each statement, not a revolving credit card.

Who issues Ramp Canada cards?

Peoples Trust Company issues Ramp's Canadian Visa business cards under licence from Visa. Ramp Business Corporation is registered as a payment service provider with the Bank of Canada.

What yield does Ramp Canada offer?

None on Canadian-dollar balances. Ramp Treasury is a US-dollar product for US customers (2% APY on checking, up to 4.48% in the investment account, rates as of September 17, 2026). Float pays 2.5% on CAD balances and 2.75% on USD balances, calculated daily and paid monthly.

How does Ramp Canada code Canadian taxes?

Ramp's OCR reads GST, HST, PST and QST from the receipt and assigns the matching tax code before the transaction syncs to QuickBooks Online, Xero, NetSuite or Sage Intacct (NetSuite and Sage Intacct need Ramp Plus). One tax code applies per transaction, so GST plus PST needs a combined code in your accounting file.

Which is better for a 50-person Canadian company that wants cards, bill pay and accounting sync?

Float Professional for a Canada-only company (free for 12 months through our link, then from $100 a month including 10 active users, plus $10 per additional active user); Ramp for a company with US operations or heavy US-dollar spend that meets Ramp's corporation, province and CA$25,000 balance requirements.

Ramp vs Venn: which should I compare?

Venn is a business bank account and Ramp is a card and spend platform that connects to the bank account you already have, so many businesses outside Quebec run both (neither serves Quebec). Float is the closer head-to-head with Ramp. See our Ramp vs Venn comparison for the account-level detail.