1 reviews | Active since Dec 2019
Float has failed to release my credit card funds after I completed payment
I am extremely frustrated with the way Float has handled my account.
Float used my credit card to facilitate a payment arrangement, which I then paid off over 4 months. I made my final payment two months ago, yet the amount that was reserved on my credit card has still not been released or reflected correctly.
I have contacted Float for assistance, but I am getting nowhere. My bank has explained that Float needs to confirm with the bank that I have completed my payments and provide the necessary clearance/release. However, Float is refusing to do this.
I am now completely stuck between Float and my bank. My bank says they cannot resolve the matter without Float's confirmation, while Float says they cannot do anything. Neither party is taking responsibility, and I am the customer who is suffering the consequences.
What makes this even more concerning is that I am now being charged interest on my credit card for an amount that I have already paid to Float and should no longer be owing. This is causing me financial loss through no fault of my own.
I expect Float to urgently:
1. Confirm that my *** has been fully paid. 2. Communicate with my bank to release/clear the reserved amount. 3. Correct whatever is preventing the funds from being released.
I have fulfilled my obligation by making all the required payments. I should not be left in financial limbo because Float and my bank are unable to resolve an issue between themselves.
Float, please take ownership of this matter and resolve it urgently.
Hi Lungelo,
Thank you for sharing your concerns with us — and we truly understand how frustrating this situation must feel.
The core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged, and the reserve reduces as you pay each instalment.
This reserve is not a charge and is managed through your bank’s system. If your bank cannot see an active reserve, it typically means the pre-authorisation has either expired or been released on their side. This is designed to make your credit work better for you, offering flexibility that typical credit card purchases don’t.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you. We believe that one of our agents had communicated with you to try address your concerns and assist.
Regards,
The Float Team
Hi Lungelo,
Thank you for sharing your concerns with us — and we truly understand how frustrating this situation must feel.
The core benefit of Float is that it allows you to make big purchases without being charged the full amount upfront, which gives you time to manage your credit card repayments instead of dipping into your cash. While we do reserve the full amount on your credit card, only the first interest-free instalment is charged, and the reserve reduces as you pay each instalment.
This reserve is not a charge and is managed through your bank’s system. If your bank cannot see an active reserve, it typically means the pre-authorisation has either expired or been released on their side. This is designed to make your credit work better for you, offering flexibility that typical credit card purchases don’t.
We are disappointed to hear your experience but value your feedback. If you have any further concerns, please reach out to us on *** so we can adequately assist you. We believe that one of our agents had communicated with you to try address your concerns and assist.
Regards,
The Float Team