Overview
When you repay your Loop credit card balance from an external bank account, it usually takes up to 4 business days for the payment to process and your available credit to update.
With Instant Deposit, Loop makes a portion of that repayment available for spending immediately, so you can keep your business moving without delays.
Note: Repayments made from a Loop account are always applied instantly in full.
How much Instant Deposit credit do I get?
Your Instant Deposit limit depends on several factors, such as your Loop plan and your past activity with Loop.
While each account will have a different limit, the maximum Instant Deposit amount is about $25,000.
FAQs
How does Instant Deposit work?
When you make a repayment from an external bank account, Loop releases a portion of that amount instantly for use on your credit card while the full payment is processing.
Do I need to enable Instant Deposit?
No. Instant Deposit is applied automatically when you make a qualifying repayment.
Are repayments from a Loop account instant too?
Yes. Repayments made directly from your Loop account are applied in full, instantly.
Is there a maximum Instant Deposit limit?
Yes, the limit varies per account but can be up to around $25,000.