Float Launches New Hybrid Business Accounts: Spend Like Chequing, Earn Like Savings (Up to 4%)

Big banks force businesses to choose between access or interest. Float delivers both—4% interest, zero fees and CDIC deposit insurance.

TORONTO--(BUSINESS WIRE)--Float today announced the launch of Float Business Accounts, Canada’s first fintech-built solution with zero fees, instant liquidity, market-leading returns and CDIC deposit insurance in a single account. This new account combines the everyday functionality of a chequing account with the earning power of a savings product—all without sacrificing speed, security or returns.

With this launch, Float challenges decades of banking norms that Canadian businesses have long been conditioned to accept as “just the way it is.”

"Canadian businesses have been conditioned to think banking has to be slow, costly and restrictive. It doesn’t. With Float Business Accounts, we’re showing that Canada can have a financial system that actually works for entrepreneurs—fast, fair, and built to help them grow,” said Rob Khazzam, CEO and Co-Founder at Float. “This launch is just the beginning of rethinking what business banking should look like in this country.”

Float Business Accounts offer a combination of benefits previously unavailable in the Canadian market:

• True zero-fee banking: No monthly fees, no transaction fees on sending or receiving funds via ACH or EFT, no minimum balance requirements
• Up to 4% interest: 2.8x higher than traditional business savings accounts—without locking in funds
• Industry-first protection: CDIC insurance coverage up to $100,000, plus 100% of funds held in trust accounts for complete peace of mind
• Seamless USD capabilities: CAD and USD accounts with market-leading FX rates for cross-border operations

The platform provides real-time transaction visibility and integrates directly with Float's existing corporate card and expense management tools, creating a unified financial operations system that can be set up in minutes rather than the weeks typically required for traditional business banking.

“The radical part of Float Business Accounts isn’t the technology or even the market-leading interest rate. It’s that, for the first time, businesses don't have to compromise. They can have instant access and zero fees. High interest and strong protection. This is what Canadian companies have been asking for. This is what they need,” said Andrew Dale, COO at Float.

Early Float customers are already seeing benefits. “Float Business Accounts combine the best of a fintech bank, expense management platform, and treasury account while eliminating the hassle of multiple providers. This is what modern banking should look like,” said Float customer Gregory Kalinin, Co-founder of Holistic Coffee Roasters.

Float Business Accounts are available immediately to all new and existing Float customers. Businesses can open an account in minutes with no credit checks, no paperwork and no waiting periods.

About Float
Float is Canada's complete business finance platform, combining modern financial services and software to help businesses spend, save and grow. Trusted by more than 5,000 Canadian companies, Float provides high-limit corporate cards, automated expense management, next-day bill payments, high-yield accounts and fast, friendly support—all built in Canada, for Canada.

For more information, visit floatfinancial.com.