Overview
Every Loop business account comes with multiple accounts designed to simplify your global financial operations.
Operating Account: Your primary business accounts for receiving and sending domestic funds.
Currency Accounts: In order to receive funds via EFT, ACH, Wire, e-Transfer, etc, you must convert a Currency Account into an Operating Account.
Account-Linked Cards: Cards connected directly to your Loop Accounts, so you can spend from your balances in real time.
Together, these accounts let you operate globally — without the high fees, conversion costs, or complexity of traditional cross-border banking.
Why Loop Accounts Matter
Loop Accounts replace the need for multiple bank relationships across countries.
With Loop, you can:
Receive and hold foreign funds like a local business.
Convert between currencies instantly at market-leading FX rates.
Spend directly from your balances using your Loop Cards.
Manage all your accounts and activity in one simple dashboard.
This structure keeps your money organized by currency while giving you complete control over how and when to convert or use funds.
Types of Loop Accounts
Operating Account
Your Operating Accounts are the hub for receiving payments, funding vendor transfers, and paying your Loop Credit Card.
It’s also where Interac e-Transfers are deposited.
Currency Accounts
Your Currency Accounts make it easy to manage global revenue and payments. To receive external funds via EFT, ACH, Wire, Interac e-Transfer, etc, you must upgrade your Currency Account to an Operating Account.
Account-Linked Cards
Loop’s Account-Linked Cards draw funds directly from your account balances.
Spend in CAD, USD, EUR, or GBP with no FX fees when you use the matching account balance.
For other currencies, Loop applies the Visa® rate plus your plan’s FX markup (0.1%–0.5%).
Funds you convert or deposit are instantly available to spend.
How Your Accounts Work Together
Deposit or Receive Funds: Incoming funds go to your Operating or Currency Accounts.
Convert When Needed: Instantly exchange between currencies from your dashboard.
Spend or Send: Use your account-linked cards or make vendor payments directly from any account.
Track Everything: Monitor balances and transactions across all currencies in one view.
Tips
No forced conversions: You choose when to exchange between currencies.
Instant access: Transfers and conversions between Loop accounts happen immediately.
Full visibility: All balances update in real time across your dashboard.
Lower FX costs: Enjoy FX rates 3–4x cheaper than banks.
FAQs
Do I need an Operating Account?
Yes. You’ll need an Operating Account to receive domestic payments or Interac e-Transfers.
Are there FX fees between accounts?
Loop applies a small FX markup (0.1%–0.5%, depending on your plan) when converting between currencies.