What is Available Funding?

The Available Funding (previously known as Float) is the amount of employer funds (top-ups) that are available to be used for employee transactions.

You can find your  balance, and make a top up payment in your customer portal here: https://customer.extraordinarypay.com/funding

At the beginning of each month, you will be invoiced for the prior month's total employee spend. This amount will be added to the available funding when the invoice is paid.

Why do I need to pay a Funding invoice, and have funds available?

The Extraordinary cards issued to your employees are Mastercard Debit cards. This means that you as the account owner are responsible for ensuring that the funds you have available at any time are sufficient to cover actual employee spend. You cannot operate your account with Extraordinary in arrears as this would amount to us offering a credit facility, which is not included in the terms of our agreement with you.

How much money is required to be held as Available Funding?

The required value is outlined in the "Extraordinary Employer Agreement" contract. This can be expressed as a percentage of the sum total of potential annual employee contribution amount.

There should be sufficient funds available to cover:

• The amount spent during the billing period (one month)
• Sufficient funds to cover the time between the monthly invoice being issued and the payment due date (up to 20 days)
• Time of high transaction activity, commonly aligned to new card issuance, card balance renewal periods, and seasonal variation such as the Christmas / New Year holiday period

What happens if I don't have funds available?

The team at Extraordinary will send you notifications to ask for payment to top up the Available Funds and issue an invoice to be paid.

Should the employer account remain in a negative balance, the employee cards may be temporarily blocked until the Funding amount is topped up sufficiently. We will make every reasonable effort to contact you to make sure you are aware of the need to make a payment.

How can I view my Funding breakdown?

If you wish to see a breakdown of your current available Funding, we now have a 'Statement Export' button on the Funding Page under Activity->Transactions.

You can set a filter date starting from 1May till the current day and export the Statement.

In this report, you can view all the details like top ups, card issue fee, platform fee and transactions and the sum of this report is your current available Funding.

What happens if I close my Extraordinary account?

We will miss you!

And repay any Available Funding balance remaining once adjusted for the amount of employee spend on the final monthly invoice.