Overview
Loop’s CAD Business Operating Account is designed to help Canadian companies manage day-to-day business payments easily and affordably.
With your CAD account, you can send and receive funds locally using standard Canadian banking details — just like a traditional business account, but with no hidden fees or minimum balance requirements.
This guide walks you through how to open your CAD account and highlights the key benefits available now and coming soon.
Steps to Open Your CAD Account
Log in to your Loop Dashboard
Sign in to your Loop account to get started.
Go to the Accounts page
From the left-hand menu, click Accounts.
Select the CAD Account
On the Accounts page, click the CAD Account option.
Click Open Account
Select Open Account to begin setup.
Complete the account form
Fill out the required information and submit.
Once completed, your CAD account will be created automatically.
That’s it — your Loop CAD Business Operating Account is now active and ready to use!
Benefits of the Canadian Business Operating Account
No Account Fees
Enjoy one of the only CAD Business operating accounts with no monthly fees and no minimum deposit requirements.
Local Account Details
Get a Canadian Institution Number, Transit Number, and Account Number — allowing you to send and receive local payments seamlessly.
Unlike typical “wallets,” your Loop CAD Account supports both incoming deposits and outgoing transfers, including pre-authorized debits.
Unlimited Transactions
Send and receive unlimited transactions with no dollar caps or minimums — giving your business the flexibility it needs to move money freely.
Notes
Once your CAD Account is open, you’ll see your local banking details immediately on your Accounts page.
You can use this account to fund Loop Cards, send payments, or receive deposits from clients and partners in Canada.
FAQs
How long does it take to open a CAD Account?
It’s instant — once you complete the setup form, your account is ready to use.
Is there a minimum balance requirement?
No, there are no minimum deposit or balance requirements.
Can I receive payments from any Canadian bank?
Yes, your CAD Account supports incoming payments from all major Canadian banks and credit unions.