FloatMe uses a wide range of data points to qualify your account for Floats. This system helps us analyze your specific situation to reduce the risk of an overdraft fee or a defaulted Float.
We use various factors when evaluating an account, but here are some general steps you can take to help you qualify:
1. Make sure your FloatMe account is in good standing. That is, you've paid your subscription fees, your Floats have all been paid back, etc.
2. Is your checking account also in good standing? Do you normally maintain a positive bank balance? Do your have regular transactions in this account?
3. Do you have eligible direct deposits in your account? Our system requires a minimum of 3 direct deposits from an eligible source.
4. Is your linked debit card valid? We'll need a valid debit card that is connected to your linked checking account in order to send you Instant Floats.
5. Spending patterns on payday or the day after. Do you normally withdraw or transfer large amounts of money on payday or the day after? We understand large expenses happen, check out our blog for tips on how to plan ahead.