Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Toronto, Yukon
Avoid FX Fees & Start Spending In Four Currencies - Claim this offer
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Loop is a business banking service that provides financial products to support Canadian e-commerce. They offer services like long-term capital, multi-currency accounts, cards, and payment methods. With a focus on small businesses and e-commerce, they have lent more than $100M to make global operations easier.
One of the benefits you can access from Loop is its multi-currency corporate card, which allows your business to spend in four currencies: CAD, USD, GBP and EUR. There are no FX fees as the card will automatically pay in the currency you need, which means you don’t have to convert from one currency to another.
You can access the Loop dashboard, which shows your balances in real time and allows you to monitor how much you owe for each currency. You can use the card however you like, such as to pay suppliers, run ads, get coffee etc., without worrying about declined transactions and over-limit fees.
You can get 55 days interest-free on your purchases and access the capital you need through Loop’s connection with e-commerce platforms. Additionally, you can earn 1 point for every dollar for all purchases, including ads, software tools, and much more.
The second benefit you can access from Loop is its long-term credit in CAD or USD with APRS from 8 – 12% to allow your business to grow faster. Signing up for an account is free, and you can use funds instantly to pay vendors, suppliers and other payees with flexible payments available.
There are also purchase orders financing to pay for your production cost in the meantime and invoice financing to receive your funds immediately.
The third benefit you can access from Loop is its multi-currency accounts which allow you to get payouts from brands like Amazon, Shopify, Paypal, Etsy, Stripe and other USD payments without needing to convert your money.
You can avoid FX conversion fees and convert between currency amounts instantly at competitive rates compared to banks and FX providers. Additionally, you can pay bills and send money internationally immediately for free.
The fourth benefit you can access from Loop is its global payment methods. You can pay suppliers, vendors and payees in 37+ currencies worldwide in one click.
There are no limits to how much you can send, and you can transfer money internationally securely through your preferred payment method, even from EFT, Wire and ACH.
Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Toronto, Yukon
Since 2019
Business, Finance
English
Loop is a business banking service that provides financial products to support Canadian e-commerce. They offer services like long-term capital, multi-currency accounts, cards, and payment methods. With a focus on small businesses and e-commerce, they have lent more than $100M to make global operations easier.
There are many reasons why you should use Loop. Some examples include:
The following fees for Loop include:
Multi-Currency Accounts
Multi-Currency Corporate Card
International Payments
Capital funding
To get started with Loop, you can register for an account free. The only requirements for the Loop Corporate Card are details about your business, the channels/payment processors you use, your monthly revenue and other relevant information for the approval of your account.
Loop is committed to ensuring your money is safe and secure. Your money is safeguarded by keeping your money in accounts that are separated from the funds used to run the business.
Deposits created in the Loop US Dollar Account are insured under FDIC. The CAD, EUR and GBP accounts also have security measures to protect your funds by depositing your funds in an isolated account at banking institutions in Canada, the US, the UK and Europe.
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