Overview
When you set up a Loop Card, you can choose between:
A Loop Account-Linked Card, which draws purchases directly from your Loop account balances, or
A Loop Global Visa Credit Card, which charges purchases to your available credit limit (if approved).
If your business doesn’t yet have a credit limit, you can still enjoy all the same Loop Card features through the Account-Linked Card option.
Unlike traditional debit or pre-funded cards, Loop Account-Linked Cards behave like a credit card at checkout — meaning they can be used at hotels, car rental agencies, and platforms like Google Ads. Loop handles withdrawing the purchase amount from your Loop balances behind the scenes.
How Account-Linked Cards Work
Each Account-Linked Card connects directly to your Operating Accounts and Currency Accounts.
When a transaction occurs, Loop automatically uses the correct account and currency based on your card setup.
Spend in CAD, USD, EUR, or GBP: Funds are withdrawn directly from the matching account — no FX fees.
Spend in another currency: Loop automatically converts using the Visa® rate plus your plan’s FX markup (0.1%–0.5%).
Funds update instantly: Purchases immediately reduce your available balance.
Multi-Currency vs Single-Currency Cards
You can choose how your Account-Linked Card handles currency settlements at setup:
Multi-Currency Option
Withdraws the purchase amount from the available balance in the corresponding currency.
If there’s no balance in that currency, Loop automatically withdraws from available funds in this order:
CAD → USD → EUR → GBP.
There must be enough funds in one of these accounts to cover the full transaction.
This option is ideal for businesses that make purchases in multiple currencies and want Loop to automatically draw from available balances.
Single-Currency Option
Withdraws only from the selected currency account (for example, CAD only).
Purchases made in other currencies are automatically converted to the selected currency.
This option suits businesses that operate primarily in one currency but occasionally make foreign transactions.
Card Types
You can issue two types of Cards:
Virtual Cards
Instantly create and start using online.
Great for software subscriptions, ad platforms, or digital vendors.
Assign unique cards for each vendor to simplify reconciliation.
Physical Cards
Ideal for travel or in-person purchases.
Linked to your chosen Operating and Currency Accounts.
Fully managed from your dashboard.
Managing Cards and Controls
From your Loop Dashboard, you can:
Set spending limits per card or per user.
Pause or disable cards instantly.
View transactions in real time.
Export activity for reconciliation or reporting.
How Account-Linked Cards Differ from the Loop Global Visa Credit Card
Feature | Account-Linked Card (ALC) | Loop Global Visa Credit Card |
Funding source | Your Operating & Currency Account balances | Credit line issued by Loop |
Currencies supported | CAD, USD, EUR, GBP (no FX fees) | CAD, USD, EUR, GBP (no FX fees) |
Spending limit | Based on available balances | Based on approved credit limit |
FX on other currencies | Visa rate + 0.1–0.5% markup | Visa rate + 0.1–0.5% markup |
Card behavior | Acts like a credit card; settles from your balances | True credit card; billed monthly |
Best for | Daily business and team spending | Extending cash flow or large purchases |
Tips
Behaves like a credit card: Works seamlessly for hotels, rentals, or ad platforms.
Draws from both Operating and Currency Accounts: Always uses available balances first.
Choose your setup: Multi-Currency for flexibility, Single-Currency for control.
Real-time updates: Purchases immediately appear in your balances and dashboard.
Issue multiple cards: Create physical or virtual cards for each department or user.
FAQs
Do Account-Linked Cards use credit?
No. They spend directly from your available Loop account balances — no credit line is required.
Can I get a credit card instead?
Yes. If your business qualifies, you can apply for a credit limit and use the Loop Global Visa Credit Card.
How do multi-currency cards choose which balance to use?
They withdraw first from the matching currency. If unavailable, Loop automatically pulls from the next available balance in the order: CAD → USD → EUR → GBP.
What happens if there aren’t enough funds?
The purchase won’t go through unless one of your linked accounts has sufficient funds to cover the full amount.
Can I link a card to specific accounts?
Yes. You can choose single- or multi-currency setups and edit linked accounts anytime.