Float Review: Canada's #1 Spend Management Platform
Eliminate expense reports, earn 4% yield on your cash, and issue unlimited cards to your team with zero monthly fees.
Disclosure: Some links may be affiliate links. If you use them, we may earn a commission at no extra cost to you.
At a Glance
Best For
Canadian SMEs (5-100 employees) looking to control team spending.
Not Ideal For
Sole Proprietorships, or businesses looking for travel rewards/points (Float offers Yield/Cashback instead).
CPA Verified Review
"Float is the default "modern" choice for Canadian scaling companies. It bridges the gap between a bank account and accounting software perfectly."
— Seb Prost, CPA
Founder, LedgerLogic
February 2026
Why We Choose It
- Earn high interest (up to 4%) on your idle cash balances.
- Issue physical or virtual cards in seconds (no bank visits).
- Text-message receipt capture is the fastest workflow we have tested.
- Smart Rules allow you to auto-approve expenses under a certain threshold.
- No personal guarantee required (Prepaid model).
What to Watch For
- Prepaid model means you must fund the account before spending (no credit float).
- FX rates (1.5%) are good but not as low as specialized FX brokers.
- Not available for Sole Proprietorships.
- Stricter approval process than some "instant" online tools due to FINTRAC.
| Feature | Float | Big 5 Bank Card |
|---|---|---|
| Monthly Fee | $0 (Essentials) | $100+ / year |
| Card Issuance | Instant (Virtual) | 2 weeks (Mail) |
| Receipt Matching | Automated via SMS/Email | None (Shoebox) |
| Interest on Cash | Up to 4% | 0% |
| Accounting Sync | Direct & Reliable | Bank Feed (Often Breaks) |
Simple, Scalable Pricing
Start for free, upgrade for advanced controls.
Essentials
Most Popular$0/ month
For teams getting started.
Professional
$10/ month / user
For growing finance teams.
Enterprise
ScaleCustom
For complex organizations.
Note: Float also offers "Float Yield" which pays ~4% interest on your CAD balance, making it one of the highest-yield business accounts available.
How We Implement It
Our standard playbook for rolling this out correctly.
Sign Up
Create your account online. You will need corporate documents and ID verification.
Connect Bank
Link your primary business bank account to fund your Float balance.
Create Cards
Issue your first virtual card for immediate software subscriptions.
Set Policies
Configure "Spend Policies" (e.g. Travel, Software) to auto-categorize expenses.
Invite Team
Send invites to employees so they can request their own cards.
Float Implementation Sprint
We'll deploy Float across your team, set up approval policies, and ensure every transaction syncs to Xero/QBO perfectly.
What's Included
- Account Verification Support
- Spend Policy Configuration
- Employee Onboarding Webinar
- Accounting Sync Setup
Deliverables
- Active Corporate Cards
- Automated Receipt Workflow
- SOP for Staff Spending
- Clean Bank Feeds
Typical completion: 3-5 business days
Frequently Asked Questions
Is Float a credit card?
Is my money safe?
Does it integrate with Xero and QuickBooks?
How does the 4% yield work?
Can I use it for USD spend?
Looking for More Accounting Tools?
Explore our complete guide to the best accounting software and tools for Canadian businesses.
Browse All Tools