tag icon

Avoid FX Fees & Start Spending In Four Currencies - Claim this offer

No Reviews
pencil icon Write a review
tag icon

Avoid FX Fees & Start Spending In Four Currencies - Claim this offer

Loop Overview

Editorial Note: Comparewise is supported by our readers. When you find products and services through links on our site, we may earn commission.

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.

Loop Features

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.

Loop Business Card - Comparewise

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.

Promo Offer: Avoid FX Fees & Start Spending In Four Currencies

Loop Business Capital - Comparewise

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.

Business Loans Brands You Might Like…

  • Get business financing solutions for small or medium-sized Canadian businesses – Get started
  • Guarantor loans in Ontario and BC of up to $10,000 – Get started
  • Competitive financial solutions for Canadian businesses – Get started
  • Get Approved For Up To $500,000 Within 24 Hours – Get started
  • Apply Now To Get The Financing You Need Within 24 Hours – Get started

Service Areas

Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Toronto, Yukon

Services

  • App
  • Money Transfer

Year in Business

Since 2019

Industry

Business, Finance

Languages

English

FAQs about
Loop

What is Loop?

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.

Why should I use Loop?

There are many reasons why you should use Loop. Some examples include:

  1. Access to its multi-currency corporate card, which allows your business to spend in four currencies: CAD, USD, GBP and EUR.
  2. Access to its long-term credit in CAD or USD with APRS from 8 – 12% to allow your business to grow faster.
  3. Access to 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.
  4. Access to its global payment methods. You can pay suppliers, vendors and payees in 37+ currencies worldwide in one click.

How much does Loop cost?

The following fees for Loop include:

Multi-Currency Accounts

  • No account opening fee
  • No monthly or annual fees
  • Free incoming transfers

Multi-Currency Corporate Card

  • No monthly or yearly fees
  • No FX fees on USD, CAD, EUR and GBP purchases
  • 55-days interest-free spending

International Payments

  • Free local and international transfers
  • Add an unlimited number of suppliers for free
  • 50bpd of FX markup when you pay in 37+ other currencies
  • No FX fees when you pay in your current money.

Capital funding

  • The interest range vary from 0.8% – 2% monthly
  • The monthly access fee starts from $79 to $499
  • No up-front fees or setup costs

 

How do I get started with Loop?

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.

Is Loop safe?

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.

Loop Products

Loop
Loop
Multi-Currency Corporate Card
$0
Free
Unlimited Accounts
Features
Loop
Loop
Multi-Currency Accounts
$0
No Annual Fees
Unlimited Free Virtual Cards
Features
Loop
Loop
International Payments
$0
No FX Fees When You Pay In Your Current Currency
Unlimited Transfers
Features
Loop
Loop
Capital Funding
$79.00
Starting Access Fee
Limited Capital Based On Your Business
Features

Loop Offices

Phone Number
(647) 490-4901
Email Address
hello@getloop.ca
Hours
Monday - Friday: 9:00am - 5:00pm
Address
150 King Street West, Suite #200 Toronto Ontario ON M5H 1J9 CA
Social
Review widget

Add the badge below to show your rating on your website in 3 simple steps:

  1. Choose the badge that you like
  2. Copy the widget HTML code
  3. Paste the HTML code on your website

Most of our partners add the badge to the header or footer of their website and email signature for:

  • social proof to build credibility with new and existing customers
  • boost conversions throughout the entire marketing funnel
  • stand out on Google search with user generated content

Reviews

No reviews submitted yet. Have you used this brand in the past? Be the first to review!

Submit Review

Thank you for your valuable input!

Characteristics
  • Quality
  • Сonfidence
Experience
  • Knowledge
  • Counsulting
wealthy simple free stock ad banner
Loop Details
  • mobile phone icon
    (647) 490-4901
  • clock icon
    Monday - Friday: 9:00am - 5:00pm
  • pinpoint icon
    150 King Street West, Suite #200 Toronto Ontario ON M5H 1J9 CA
  • clip icon
    https://www.getloop.ca/
  • mail icon
    hello@getloop.ca
Loop Social Media
Loop Reviews
0 average based on no reviews
Characteristics
  • Quality
  • Confidence
Experience
  • Knowledge
  • Counsulting

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.

Browse brands by services

One of the most successful fields in Canada is acc...

There is plenty of app brands and development comp...

Canada has a pretty traditional banking structure ...

Bookkeeping is an essential part of business, and ...

Accidents happen all the time, and business insura...

You might be looking for the best business loan br...

Finding the best car insurance brands is quite cru...

Do you want to find car loan brands that are suita...

A credit report brand is a company that collects a...

If you're thinking of digital trading assets, you ...

Best debt consolidation brands help you get back o...

Many Canadians who own their home find themselves ...

Finding the best insurance brands might be the mos...

Canada attracts a lot of talent through companies ...

Installment loans are a great way to pay off emerg...

Canada offers fantastic investment opportunities f...

Getting yourself insured by the best life insuranc...

Check out the top money transfer brands with Compa...

Finding the right mortgage brands can save you mon...

Many Canadians apply for a loan or credit card at ...

Software brands include a variety of innovative pl...

Tax preparation is an essential part of every busi...

Canada is very tech-savvy, and there is a wide ran...

Car loan?
Personal Loan?

Top deals await you just a short
application away!