Overview
When you open a Loop Account, you automatically get access to multi-currency accounts — the foundation of your Loop experience. These accounts let you manage your business funds across currencies from one dashboard.
Each account starts as a Currency Account, which you can use to hold balances.
When you’re ready to receive payments, you can easily upgrade to an Operating Account — unlocking local account details and the ability to receive domestic transfers directly into Loop.
Your funds are always protected with regulated financial partners:
CAD and USD Currency Accounts are CDIC-insured up to applicable limits.
USD Operating Accounts are FDIC-insured through Loop’s U.S. banking partner, Lincoln Savings Bank.
EUR and GBP accounts are safeguarded with regulated financial institutions in their respective regions.
How to View Your Loop Accounts
Log in to your Loop Dashboard.
Go to the Accounts tab.
You’ll see your accounts for CAD, USD, EUR, and GBP.
Click any currency to view balances, account details, and upgrade options.
How to Upgrade to an Operating Account
Operating Accounts enable you to receive funds directly into Loop — just like a local business.
Go to the Accounts tab in your dashboard.
Select the Currency Account you want to upgrade (e.g., CAD).
Click Open Account in the highlighted section.
Follow the prompts to activate your Operating Account.
Once approved, you’ll receive local account details for your chosen currency.
You can receive local transfers through:
ACH (U.S.)
EFT (Canada)
Interac e-Transfer® (Canada)
SEPA (Eurozone)
Faster Payments (U.K.)
Tips
Currency Accounts are created automatically when you open your Loop Account.
Upgrading to an Operating Account is quick and usually instant.
A Currency Account must be upgraded to an Operating Account in order to receive external funds.
FAQs
Which currencies are supported?
Loop supports accounts in CAD, USD, EUR, and GBP.
Do I need to apply for each account?
No — they’re created automatically. You only need to upgrade to receive funds at no additional cost.
What does “get paid like a local” mean?
It means you can receive payments through local transfer networks, using account details specific to your currency region.