At Cloudfloat, we want every payment request to succeed. A declined request doesn’t mean you can’t use the platform again. Understanding the common reasons for declines can help you get your requests approved faster:
First instalment failed
We were unable to collect your first instalment from your selected payment card or Cloudfloat Wallet. To prevent this, we strongly recommend maintaining sufficient funds in your Cloudfloat Wallet by enabling a weekly auto-recurring top-up.
Below credit requirement
Your payment request didn’t meet our minimum credit assessment criteria. Ensure you provide a solid credit history and keep your business certifications (ABN, GST, proof of ownership) up to date.
Above current borrowing power limit
The requested payment amount exceeded your current borrowing power limit. Cloudfloat uses a dynamic borrowing capacity based on your purchase, payment, and credit history, giving you flexibility.
Over starting borrowing power limit
The requested amount exceeded your initial borrowing power limit. We recommend starting with smaller invoices and gradually increasing invoice values and the number of suppliers you pay.
Supplier is no longer eligible for payment requests
The supplier you’ve requested to pay is no longer eligible within our system. This is likely due to the supplier not meeting our assessment criteria. For any concerns, we recommend reaching out to the supplier directly.