Overview
The time it takes to receive a payment in Loop depends on how and where the funds are sent. Local transfers (like EFTs in Canada) are usually faster, while international or cross-border payments can take a few extra days due to banking network processing and compliance reviews.
Typical Processing Times
Payment Type | Estimated Time to Arrive | Notes |
EFT (Canada) | 1–2 business days | Common for domestic transfers between Canadian banks. |
Interac e-Transfer (Canada) | Usually same day | Sent from another Canadian bank using Interac; processing depends on sender’s setup. |
Local payments (non-Canada) | 1–3 business days | Sent from a bank in the same country or currency region. |
International payments (SWIFT / wire) | 2–5 business days | Depends on the sending bank, currency, and intermediary banks. |
Transfers between Loop accounts | Instant | Funds move immediately between Loop users. |
Notes
EFT and Interac payments are available only for Canadian Operating Accounts.
Delays may occur if the sending bank holds funds for review or the transfer is sent on a weekend or public holiday.
You’ll receive an email and in-app notification once funds are deposited into your account.
Payments are automatically converted into the correct currency when received through your Loop Accounts.
FAQs
Why hasn’t my EFT or Interac payment arrived yet?
Check with the sender to confirm the payment was sent to the correct account and hasn’t been held by their bank for review.
Do weekends or holidays affect timing?
Yes. Payments are only processed on business days and may take longer if sent after banking hours.
Will I be notified when my payment arrives?
Yes — Loop will send you an email and in-app alert once the funds are available.
Can I speed up incoming payments?
Providing accurate account details and using the right transfer type for your account helps prevent delays.