The basics
What is Cloudfloat Pro?
Cloudfloat Pro is an annual membership costing $300 + GST ($330 in total). It gives you lower fees, a set funding limit from day one, and access to Working Capital and Redraw. See What is Cloudfloat Pro?
Is Cloudfloat Pro a subscription to Cloudfloat?
No. Cloudfloat stays free to use. Pro is an optional membership tier on top. You can stay on Standard terms at no annual cost.
Who can join?
Any business with a Cloudfloat account: sole traders, partnerships, companies and trusts. There's no application or credit check. You'll just need to accept the updated Terms & Conditions in the app.
How do I join?
Confirm the membership fee and accept the Terms & Conditions in the Cloudfloat app. Your account is upgraded straight away. See How to join Cloudfloat Pro.
I have more than one business. Does one membership cover them all?
No. Membership applies per business, so each business needs its own.
Pricing and billing
What does Pro cost?
$300 + GST per year ($330 in total).
What are the Pro rates?
Funding is 1.5% + GST for the first 30 days, then 2.5% + GST for each additional 30 days. Card deposits and top-ups are 1.5% + GST, and payroll payment processing is 0.5% + GST. See Cloudfloat Pro pricing, fees and what's included.
How is the fee paid?
It is debited from your Cloudfloat Wallet.
How will the fee appear on my statement?
As Cloudfloat Pro Membership Fee, at $300 + GST ($330 in total).
Can I claim the GST?
GST on Cloudfloat fees is claimable. Check with your accountant for how it applies to your business.
Funding limits and products
What is my funding limit as a Pro member?
$5,000 for sole traders and partnerships run by individuals, and $10,000 for companies and other entities. See Your Cloudfloat Pro funding limit.
Why does my Pro account say pending?
New Pro members go through a quick internal check to confirm their limit against their business structure. It isn't a credit decision and is usually completed the same day. If it's still pending after one business day, contact [email protected].
Can I get a higher limit?
Yes. Pro members can apply for a higher limit, up to $500,000, subject to assessment.
What is Working Capital?
A lump sum paid into your Wallet, repaid in fixed instalments over 6 or 9 months. It's available to Pro members only. See Working Capital: Access Funds in Seconds.
What is Redraw?
Redraw lets you turn an eligible Pay in Full invoice you've already paid into a Pay Later plan, repaid over up to 60 days. It's available to Pro members only.
Renewal, cancellation and refunds
Does Pro renew automatically?
Yes, each year on your renewal date, using your Wallet balance. See Renewing, cancelling and refunds for Cloudfloat Pro.
What if my renewal payment fails?
Your membership ends and you move to Standard terms. You can join again at any time (subject to assessment).
How do I cancel or turn off auto-renewal?
You can't do this in the app yet. Contact [email protected] before your renewal date and our team will help.
Can I get a refund?
Under our current policy, the membership fee isn't refundable once charged. Contact us if you have questions.
What happens to my membership if my account goes to collections or is closed?
It is cancelled automatically and you move to Standard terms.
Existing customers
I already pay $300 a year for my approved funding limit. What happens now?
You're upgraded to Cloudfloat Pro at no extra cost. You'll need to sign updated documents, including the new Terms & Conditions. See Already a member? Your upgrade to Cloudfloat Pro.
Is Standard pricing changing too?
Funding pricing for Standard customers is being simplified. Fees are always shown in full in the app before you confirm any payment, and our team can answer questions at [email protected].
Learn more about Cloudfloat Pro here.
Still have a question? Contact our Customer Success Team at [email protected].