Business accounts with the best interest rates in Canada
Start at 2.5% and earn up to 3.5% in a business account with zero lockups, zero fees and CDIC insurance.*
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Banks make you pick: interest or access. We don't.
Make your money work harder with up to 3.5% interest and no lock-ups.
Zero wait, zero fees
Open your account in minutes, not weeks. Move money instantly via ACH/EFT or wires, with zero transaction fees on sending or receiving funds via ACH/ EFT.
The best interest rate in Canada
Every dollar in your Float balance earns a base rate of 2.5% and up to 3.5% interest. No minimums. 100% liquidity.
CDIC insured
Operate your business with confidence, knowing your funds are safeguarded in trust accounts, with CDIC coverage on eligible deposits.
Borderless banking
Receive USD payments, hold USD funds and convert USD↔CAD at market-leading rates, while managing both balances in a single platform.
4 steps to better business banking
Getting started is faster, easier and smarter with Float.
1. Sign up in minutes, not weeks
Complete your application online. No branch appointments, no paperwork mountains, no waiting. We verify your business while you keep working.
2. Fund your accounts
Connect your bank, e-transfer or move funds via ACH, EFT and wire to your Float balance (CAD or USD).
3. Earn market-leading interest rates
Every Float Business Account earns a flat 2.5% on all CAD and USD balances: one rate, all balances, no spending thresholds. That's the highest in Canadian business banking.
Plus, earn an extra 1% on eligible new funds for 12 months* and get 1% cashback on card spend.**
4. Spend your way
Issue unlimited corporate cards instantly. Pay bills with zero fees. Track expenses automatically. Sync with your accounting software. Access your money anytime.
*Interest is earned on cash balances. Earn 2.5% base rate, 3.5% with promotional 1% fixed additional rate on opted-in new funds. Rates, terms and eligibility criteria are subject to change. Float is not a bank. Limited time opt-time. Terms & conditions apply.
**1% with over $25k in monthly spending. Contact sales for more information.
Get one step ahead with up to 3.5% interest
We took Canada's leading rate and made it one better.
Earn an extra 1% for a full year
Opt in before August 31 to earn an extra 1% interest boost on Canada's leading rate for a full year. No minimums, no lock-ups. T&C's apply.
Calculate your Float earnings
Find out what your money could be making.
Traditional banks vs Float
Earn more interest. Move money faster. Pay zero fees.
Trusted by 7,000+ Canadian businesses
How to Float in 30 days
- Load funds and start earning up to 3.5% interest
- Issue virtual cards for your team in minutes
- Set controls so spending starts clean from day one
- Pay bills on autopilot and centralize spend in one platform
- Convert CAD to USD at market-leading rates
- Collect receipts instantly, without chasing
- Export transactions seamlessly to your accounting software
- Close your books 8x faster
- Save up to 7% across total spend
Built for Canada. Period.
Not imported. Not localized. Float is the financial operations platform designed to address the unique realities of running a Canadian business including taxes, currencies, regulations and more.
spend, save, grow
The financial home for Canadian businesses
Access corporate cards, payments and business banking in one integrated software solution.
Earn up to 3.5% interest*
The freedom of a chequing account with the high-yield of a savings. CDIC insured and zero fees.
Employee reimbursements + direct payouts
Reimburse your team for out-of-pocket expenses—without making them wait for payroll.
Expense management teams love
Custom approval workflows, instant receipt reminders and no more expense reports.
Bill pay that saves time and money
Automate AP with fast Canadian, US and global wires, plus free EFT/ACH.
Foreign exchange with 90% lower fees
Instant access to CAD/USD currency exchange at market-leading rates. No hidden fees, no USD account required.
Direct integrations
Connect top accounting, HRIS and productivity platforms—plus a custom API for seamless workflows.
Corporate cards with built-in controls
High-limit CAD and USD cards with real-time tracking and up to 1% cashback.
Better rates. Zero fees. One platform.
Join 7,000+ Canadian businesses using Float.
Float is a business finance platform here to help save your company time and money. Float is not a bank—we’re a FINTRAC-registered Canadian Money Services Business and a payment services provider registered under the RPAA. We count 6,000+ Canadian companies as loyal customers.
Opening an account takes about 5 minutes online. No branch visits, minimal paperwork and you can start earning interest as soon as your account is approved and funded.
Float Business Accounts let you receive and store business funds with account routing details for EFT, ACH and wire transfers. Your accounts earn up to 4% interest with no minimum balance requirements or lockups. Funds are CDIC insured up to $100,000 and held in trust.
You can hold both CAD and USD, with no transaction fees on incoming payments. Business Accounts work alongside your Float Cards and spend management features in a single platform.
Float’s interest is an annualized rate, calculated daily based on your Float balance (in both CAD or USD) and paid monthly. Any balance in Float will start earning interest from the first dollar.
Base rate: Starting June 1, every Float Business Account earns a flat 2.5% on all CAD and USD balances: one rate, all balances, no spending thresholds.
Additional 1% promotional rate:
- Earn an extra 1% on eligible new funds for 12 months, up to $25M per currency
- "New funds" = balances above the customer's April 2026 average balance
- Opt in any time between June 1 and August 31, 2026
- The 12-month earning period starts from the customer's opt-in date
- Opt-in and baseline balance details will be visible in each customer's Float account on June 1
Interest payments occur on the first day of every month. Rates, terms and eligibility criteria are subject to change.
Both CAD and USD funds are held in trust under your business’s name within dedicated trust accounts at Scotiabank.
This means that funds are legally separated from Float’s own assets, and in the extremely unlikely event that Float Financial were to go out of business, your funds would remain safe.
In addition, we’ve partnered with Scotiabank to offer our customers CDIC insurance of up to $100,000 CAD (combined across both CAD and USD cash accounts).
Please note: Float is not a bank or CDIC member institution. Float is a registered MSB (Money Services Business) in Canada. We are also SOC2, Type 2-certified, ensuring adherence to robust security protocols as verified by independent audits.
No lockups, and this isn’t a GIC. Customers can easily withdraw funds by contacting our Support team, which is available 7 days per week.
Yes, really. We believe in transparent, simple pricing that helps your business grow. That means no monthly account fees, no transaction fees on receiving funds via ACH/EFT or wires, and no fees on sending funds via ACH or EFT.
Float and our partner bank do not charge any fees for receiving funds through SWIFT. However, SWIFT transfers may pass through intermediary banks that can deduct fees before the funds reach your account. The amount you receive can depend on how the sender’s bank instructed the payment (e.g., SHA vs. OUR) and which intermediaries processed the transfer. These fees are outside of Float’s control.
You can receive funds in Float via bank transfer, EFT (CAD), ACH (USD) or wire transfer. Simply share your Float account details with payees or transfer from your existing accounts.
You can then use your Float balance to issue physical and virtual corporate cards in both CAD and USD, or use our bill pay and reimbursement features to transfer money.
You can easily withdraw funds by contacting our support team, which is available 7 days per week. Funds will take 2-5 business days to arrive back in your connected bank account.
Your savings and earnings are calculated as follows:
Interest: Float’s interest is an annualized rate, calculated daily based on your Float balance (in both CAD or USD) and paid monthly. Any balance in Float will start earning interest from the first dollar.
Base rate: Starting June 1, every Float Business Account earns a flat 2.5% on all CAD and USD balances: one rate, all balances, no spending thresholds.
Additional 1% promotional rate:
- Earn an extra 1% on eligible new funds for 12 months, up to $25M per currency
- "New funds" = balances above the customer's April 2026 average balance
- Opt in any time between June 1 and August 31, 2026
- The 12-month earning period starts from the customer's opt-in date
- Opt-in and baseline balance details will be visible in each customer's Float account on June 1
Interest payments occur on the first day of every month. Rates, terms and eligibility criteria are subject to change.
Cashback: 1% on every dollar over $25k in monthly spending
FX savings: We compare Float’s FX fee (0.25%) vs the average FX fee charged by traditional banks (3%)
Savings from bank fees: We took the monthly fees of commonly available unlimited business banking products from each of the 5 big banks on September 5, 2025 and averaged them.
Float is not a bank or CDIC member institution. Float is a business finance platform here to help save your company time and money. Float is not a bank—we’re a FINTRAC-registered Canadian Money Services Business and registered under the RPAA payment services provider that counts 7,000+ Canadian companies as loyal customers.