Business Account
Terms and Conditions

1. Who We Are and What This Covers

1.1 About These Terms

We're Float Lending AB (org. nr. 559100-4907, Nybrogatan 55, 114 40 Stockholm, Sweden). We're not a bank. We're not a VC. We're a team that builds tools to help businesses like yours move money internationally without the runaround.

These Business Account Terms and Conditions ("Business Account Terms") are a contract between us ("Float", "we", "us") and your business ("you", "your"). They cover our Business Account product and the services we provide around it.

1.2 How These Terms Fit Together

These Business Account Terms add to the Float General Terms and Conditions and Float Privacy Policy you accepted when you signed up. If anything conflicts, these Business Account Terms win for anything Business Account-related.

1.3 Payment Services Are Provided by Airwallex

The payment services available through your Business Account — including holding funds, executing currency conversions, operating Global Accounts, and processing transfers — are provided by Airwallex (Netherlands) B.V., authorised by De Nederlandsche Bank (licence number R179622), and in the United Kingdom by Airwallex (UK) Limited, authorised by the Financial Conduct Authority (registration number 900876) (together, "Airwallex").

Float is not a bank or licensed payment institution. When you subscribe to a Business Account, you'll also need to accept the Airwallex Connected Account Agreement, which governs your relationship with Airwallex directly.

1.4 Who Can Accept These Terms

By subscribing to a Business Account, the person clicking "accept" (the "Accepting User") confirms that:

• (a)They are authorised to act on behalf of the business and to bind it to these Business Account Terms, the Business Account Pricing, and the Airwallex Connected Account Agreement;
• (b)They have the legal capacity to enter into this agreement on the business's behalf; and
• (c)They have read and understood these Business Account Terms.

If the Accepting User doesn't actually have this authority, they will be personally liable to Float for any loss that results.

1.5 Ratification Through Use

Even if the Accepting User wasn't formally authorised at the time of acceptance, your business ratifies these terms by completing the KYC Process, funding the Airwallex Wallet, or using the Business Account in any way. This ratification applies retroactively from the original acceptance date.

2. Key Terms Explained

In these Business Account Terms, the following terms have the meanings set out below (in addition to those in the Float General Terms and Conditions):

3. What You Get With Your Account

3.1 Our Platform Services

Through the Business Account, Float provides you with:

• (a)A user interface where you and your team can view balances, transaction history, and account settings;
• (b)Tools for initiating currency conversions, transfers, and managing Global Accounts — these are executed by Airwallex on your behalf;
• (c)Subscription management, including choosing and changing your Package;
• (d)Customer support as described in Section 12; and
• (e)Any other features we may make available over time.

3.2 Scope

The Business Account currently supports: multi-currency wallet, foreign exchange conversion, Global Accounts, and international transfers (local and SWIFT). We may add more services in the future, and if we do, we'll update these terms accordingly.

3.3 What Float Does vs. What Airwallex Does

Float provides the platform — the interface, tools, subscription, and support. Airwallex provides the payment services — holding funds, executing conversions, running Global Accounts, and processing transfers. That's governed by your separate Airwallex Connected Account Agreement.

Float does not hold your funds and is not a party to any payment transaction.

4. Getting Started and Onboarding

4.1 Who Can Use the Business Account

To subscribe, your business must: (a) be registered on the Float platform with accepted General Terms and Conditions; (b) meet the eligibility requirements in those General Terms; and (c) use the Business Account solely for business purposes.

4.2 KYC and Onboarding

Before your Business Account goes live, you'll need to complete Airwallex's KYC Process. No red tape on our side — it runs entirely within an embedded Airwallex interface inside the Float platform. We give you access, but Airwallex controls the process and decides whether to approve your application.

4.3 Contact Person

Any member of your team on the Float platform can start the KYC Process. The person who initiates it first is designated as the contact person. Other team members can continue or complete the process after it's been started. Everyone who engages with the KYC Process must be authorised to act on your behalf and provide information to Airwallex. If someone engaging with the process isn't listed by Airwallex as a beneficial owner or authorised representative, they need written authorisation from your business.

4.4 Ongoing Verification

Airwallex may request additional information or documentation at any time for ongoing due diligence. We'll pass these requests on to you, and you'll need to respond promptly and accurately. If you don't, your Business Account may be suspended or terminated.

5. Your Team and Permissions

5.1 How the Account Owner Is Chosen

Once the KYC Process is complete, we'll designate an Account Owner based on your company's authorized persons.

5.2 What the Account Owner Can Do

The Account Owner is the primary administrator and can:

• (a)Manage permissions and access for all Team Members;
• (b)Authorise changes to the Business Account, including Package changes;
• (c)Act as the main point of contact with Float;
• (d)Make sure all Users follow these Business Account Terms; and
• (e)Perform any other admin functions we make available.

5.3 Transferring the Account Owner Role

The Account Owner role can be transferred to another User who is a beneficial owner or authorised representative (as identified during KYC). The current Account Owner must initiate this through the Float platform, and we may verify the new person's eligibility.

5.4 You Are Responsible for Your Team

Choose your team carefully. Your business is responsible for everything your Users do through the Business Account — transactions, instructions, data — even if someone acts outside the permissions you gave them. Keep credentials secure. Remove access for anyone who's no longer authorised.

We don't verify whether individual Users have authority to act on your behalf. And we won't get involved in disputes between you and your Team Members about the Business Account.

5.5 Signing In to Float

Users access the Business Account by signing in to the Float platform using whichever authentication method is available (email and password, single sign-on, or electronic identification). You're responsible for making sure everyone on your team keeps their sign-in credentials secure. More detail on sign-in security is in the Float General Terms and Conditions.

5.6 Strong Customer Authentication (SCA)

On top of signing in to Float, every User must complete Airwallex's SCA setup before they can access wallet balances, view transaction history, or initiate transfers. This involves setting up a PIN and phone verification through an embedded Airwallex flow inside the Float platform. It's managed entirely by Airwallex and outside our control — we're not liable for any issues with SCA, including delays or access restrictions.

6. How Fees and Payments Work

6.1 Our Pricing

No surprises. All fees are in the Business Account Pricing, which is part of these terms. It covers your monthly subscription, transaction fees (FX margins, transfer fees), and anything else that applies — including how and when each fee is collected. What you see there is the full picture.

6.2 Trial Period

New subscriptions may come with a Trial Period as described in the Business Account Pricing. During the Trial Period, we waive your monthly subscription fee. All other fees — FX margins, transfer fees, and other transaction-related charges — apply at standard rates from day one. When the Trial Period ends, your subscription automatically converts to paid at your Package rate. You don't need to do anything, but you can cancel or switch Packages at any time (see Sections 6.4 and 10).

6.3 How We Collect Fees

You authorise us to deduct Platform Fees directly from your Airwallex Wallet ("Account Deduction"), as described in the Business Account Pricing. You'll always be able to see the date and amount of your next scheduled payment on the Business Account page in the Float platform.

If your wallet doesn't have enough funds on the billing date, we may: (a) retry the deduction within seven days; (b) suspend your Business Account until payment comes through; or (c) terminate your Business Account as described in Section 10.

6.4 Changing Your Package

You can upgrade or downgrade your Package at any time through the Float platform. The Business Account Pricing explains how fees, allocations, and billing are adjusted when you make a change.

6.5 Changes to Pricing

We may update the Business Account Pricing from time to time. We'll give you reasonable prior written notice of any changes. If you don't agree with the new pricing, you can close your Business Account before the changes take effect. If you keep using the Business Account after the new pricing is live, that counts as acceptance.

6.6 If You Owe Us Money

If you owe us anything under these terms — unpaid fees, failed deductions, or any other amount — you need to pay it back immediately when we ask. We can deduct what you owe from your Airwallex Wallet without further notice. If there's not enough in your wallet, you're still liable and must settle the balance by other means. We reserve the right to use debt collection services, charge reasonable collection costs (including legal fees), and take legal action if needed. This obligation survives even after your Business Account is closed.

7. Your Part of the Deal

7.1 What We Expect from You

We keep things simple on our side. We ask the same from you:

• (a)Use the Business Account only for lawful business purposes;
• (b)Keep all information you provide to Float and Airwallex complete, accurate, and up to date, and let us know promptly if anything changes;
• (c)Follow Airwallex's Acceptable Use Policy and any applicable network rules;
• (d)Not use the Business Account for money laundering, terrorist financing, fraud, or any other financial crime;
• (e)Not use the Business Account in connection with any sanctioned person, region, or activity;
• (f)Cooperate with Float and Airwallex on any regulatory inquiry, audit, or investigation; and
• (g)Make sure all your Users know about and follow these terms.

7.2 Information Sharing

You authorise us to share information about you and your transactions with Airwallex, their affiliates, their service providers, and any relevant regulatory authority — as needed for Airwallex to provide the payment services and meet their legal obligations. You also authorise us to access and view your Airwallex account information (including balances and transaction data) so we can provide the Platform Services.

8. Your Data and Privacy

8.1 How We Handle Your Data

Your data matters. We process personal data in connection with your Business Account in line with the Float Privacy Policy and applicable data protection laws, including the GDPR. For data collected through the KYC Process and payment services, Airwallex acts as an independent data controller under their own privacy policy.

8.2 Data Sharing with Airwallex

We transfer personal data to Airwallex on an independent controller-to-controller basis, as described in our Privacy Policy. This includes data about your Users, beneficial owners, and authorised representatives — as needed for onboarding, verification, and payment services.

8.3 Your Responsibilities as a Data Controller

If you provide us with personal data about your employees, representatives, or other individuals in connection with the Business Account, you confirm that you've obtained all necessary consents and have a lawful basis for sharing that data with us.

9. When Things Go Wrong

9.1 Our Liability Cap

We stand behind our product, but our exposure has limits. Our total liability to you — for anything arising from these terms, whether in contract, tort (including negligence), or otherwise — is capped at the Platform Fees you've paid us in the three (3) months before the claim arose. This applies to the maximum extent permitted under Swedish law.

9.2 What We're Not Liable For

We're not liable for:

• (a)Indirect, incidental, special, consequential, or punitive damages, including loss of profits, revenue, business, goodwill, data, or anticipated savings;
• (b)Anything arising from Airwallex's payment services — including transaction delays or failures, conversion errors, fund holding, Global Account issues, or any other Airwallex act or omission;
• (c)The KYC Process — including if your application is rejected, delayed, or if Airwallex requests more information;
• (d)SCA failures, delays, or access restrictions imposed by Airwallex;
• (e)Your failure to keep enough funds in your Airwallex Wallet;
• (f)Actions taken by Airwallex, a regulator, or any third party under applicable law, including account suspensions or freezes;
• (g)Force Majeure Events (see Section 15.8); or
• (h)Your own breach of these terms, the Airwallex Connected Account Agreement, or applicable law.

9.3 Platform Availability

We work hard to keep things running. But we can't guarantee 100% uptime. We may need to pause access for maintenance, security, or technical reasons. We won't be liable for losses caused by downtime.

9.4 Your Indemnification of Float

You agree to indemnify and hold harmless Float, our directors, officers, employees, and agents from any claims, damages, losses, costs, and expenses (including reasonable legal fees) arising from:

• (a)Your use of the Business Account in breach of these terms;
• (b)Any breach of applicable law by you or your Users;
• (c)Inaccurate, misleading, or incomplete information you provided;
• (d)Any dispute between you and a third party (including Airwallex) in connection with the Business Account; or
• (e)Account Deductions you later claim were unauthorised, provided we followed these terms when making them.

9.5 No Warranties

The Platform Services are provided "as-is" and "as-available." To the maximum extent permitted under Swedish law, we disclaim all warranties — express, implied, or statutory — including any warranties of merchantability, fitness for a particular purpose, title, or non-infringement. We don't guarantee that the Platform Services will be uninterrupted, error-free, secure, or free of viruses.

9.6 Claims Against Airwallex

Any claims about the payment services should be directed to Airwallex under the Airwallex Connected Account Agreement. We're not liable for anything Airwallex does or doesn't do.

10. Closing Your Account

10.1 How Long These Terms Last

These terms take effect on your Activation Date and continue until either of us ends them as described below.

10.2 If You Want to Close Your Account

No hard feelings. Email us at support@floatfinance.com. Once we get your request, we'll start a wind-down period of up to thirty (30) calendar days so you can withdraw or transfer your funds. Your account will close at the end of the current billing period or the wind-down period, whichever comes later. We won't refund prepaid subscription fees for the current period.

10.3 If We Need to Close Your Account

We may close your Business Account:

• (a)With thirty (30) days' written notice, for any reason;
• (b)Immediately if you materially breach these terms and don't fix it within seven (7) days of us notifying you;
• (c)Immediately if required by law, a regulatory authority, or Airwallex;
• (d)Immediately if your business becomes insolvent, enters bankruptcy, liquidation, or similar proceedings;
• (e)Immediately if Airwallex suspends, terminates, or restricts your account for any reason; or
• (f)Immediately if you fail to pay outstanding Platform Fees for more than fourteen (14) days past the due date.

10.4 What Happens When Your Account Closes

• (a)We'll give you a wind-down period (up to 30 days, unless we had to close immediately under Section 10.3) to withdraw or transfer your remaining funds. You're responsible for initiating those withdrawals or transfers;
• (b)After the wind-down period, your access to the Business Account and Platform Services will stop;
• (c)We'll notify Airwallex. They may then terminate or suspend your Airwallex account under the Connected Account Agreement — we don't control that decision;
• (d)If you haven't withdrawn all your funds during the wind-down period, we'll do our best to help you coordinate with Airwallex to get your remaining funds back. The timing may depend on Airwallex's policies and applicable law;
• (e)Any Platform Fees you owe up to the closure date remain due, and we're authorised to deduct them from your wallet before the wind-down period ends;
• (f)Certain sections survive closure: Section 6.6 (Amounts Owed to Float), Section 7 (Your Part of the Deal), Section 8 (Your Data and Privacy), Section 9 (When Things Go Wrong), this Section 10.4, Section 13 (Governing Law), and Section 14 (Disputes).

10.5 Inactive Accounts

If your account has been quiet for twelve (12) consecutive months — no transactions, no sign-ins — we may reach out to check in. If you don't respond or resume activity within thirty (30) days, we may close the account following the process in Section 10.4. You'll get the chance to withdraw your funds first.

10.6 Don't Close While Transactions Are Pending

Wrap up any in-progress transactions before requesting closure — conversions, transfers, scheduled payments. If you request closure with transactions still pending, we may hold off until everything is completed, cancelled, or resolved. We're not liable for losses from delays or cancellations tied to this.

10.7 What Happens to Your Airwallex Agreement

Closing your Float Business Account doesn't automatically close your Airwallex account. But since Airwallex services are accessed through the Float platform, they'll become unavailable once your Business Account is closed. We'll coordinate with Airwallex to help with an orderly wind-down and keep you informed throughout.

11. If We Update These Terms

11.1 How We Make Changes

We may update these terms from time to time. For anything material, we'll give you at least thirty (30) days' notice by email or through the platform. Don't agree? Close your account before the changes kick in (see Section 10.2). Keep using the Business Account after the changes go live? That counts as acceptance.

11.2 Minor Changes

Typo fixes, clarifications, formatting — we may make these without notice. Nothing that changes your rights.

12. Need Help? Support and Complaints

12.1 Platform Support

We're here when you need us. For questions or issues about the Platform Services, drop us a line at support@floatfinance.com.

12.2 Payment Services Issues

For anything payment-related — transactions, balances, conversions, Global Accounts — we'll do our best to help. Sometimes we'll need to loop in Airwallex. Resolving payment service issues is ultimately their responsibility, but we'll stay in your corner throughout.

12.3 How to Make a Formal Complaint

We'd rather fix things than let them fester. Here's the process:

• (a)Submit your complaint in writing to support@floatfinance.com. Include a description of the issue, relevant dates, transaction references if applicable, and what resolution you're looking for.
• (b)We'll acknowledge it within three (3) business days.
• (c)We'll investigate and respond within fifteen (15) business days. If we need more time, we'll let you know and give you a revised timeline.
• (d)If it's an Airwallex issue, we'll forward your complaint to them and keep you updated. You can also contact Airwallex directly using the details in the Connected Account Agreement.
• (e)If you're not satisfied, you can escalate to the relevant regulatory authority. For payment services complaints in the EEA, this is identified in the Airwallex Connected Account Agreement.

12.4 Record Keeping

We keep records of all complaints — including dates, details, and how they were resolved — and make these available to Airwallex when requested.

13. Governing Law

These Business Account Terms are governed by Swedish law, without regard to conflict of law principles.

14. Disputes

Any dispute arising from these Business Account Terms will be submitted to the exclusive jurisdiction of the courts of Stockholm, Sweden.

15. A Few More Things

15.1 Entire Agreement

These Business Account Terms, together with the Float General Terms and Conditions, the Float Privacy Policy, the Business Account Pricing, and the Airwallex Connected Account Agreement, make up the complete agreement between us regarding the Business Account.

15.2 Severability

If any part of these terms doesn't hold up legally, the rest still stands.

15.3 Assignment

You can't transfer your rights or obligations without our written consent. We can transfer ours to an affiliate or successor — as long as your rights aren't diminished.

15.4 Waiver

If we don't enforce a right straight away, that doesn't mean we've let it go.

15.5 Notices

We can send notices by email or through the Float platform. Notices to us should go to support@floatfinance.com. Notices to you go to the email address on the Account Owner's account.

15.6 Language

These terms are written in English. You agree that English is the governing language for these terms and all communications about the Business Account. If there's ever a conflict between the English version and a translation, the English version wins.

15.7 Intellectual Property

All intellectual property in the Float platform, the Business Account interface, and related materials stays with Float. Your rights regarding Float's IP are as set out in the General Terms and Conditions. You can't use our name, logo, or trademarks without our written consent.

15.8 Force Majeure

Some things are out of everyone's hands. We're not liable for failures or delays caused by events beyond our reasonable control — natural disasters, war, terrorism, pandemics, strikes, government action, utility failures, or failures of Airwallex's systems.