You can repay your Loop Card balances in the same currencies in which your transactions are denominated. If you hold multiple foreign currency balances, you can repay each currency balance directly from the corresponding currency account.
Overview
If you use your Loop Card across different currencies, you'll see separate outstanding balances on your Loop Dashboard — one for each currency. This helps you manage repayments clearly and avoid unnecessary conversion fees.
At the end of your billing period, you can make payments toward each currency balance using your own Canadian-based foreign currency bank accounts (for example, a USD account held at a Canadian bank).
Tips
Paying each balance in its own currency helps you avoid exchange rate conversions.
You'll see confirmation of each payment once it's applied to your Loop Card balance.
If you don't have a foreign currency account, your payment will be converted automatically if sent in CAD.
You can choose to pay your balance all in USD or all in CAD, whichever is most convenient.
FAQs
What if I only have a CAD account?
You can still repay your foreign balances, but Loop will automatically convert your payment from CAD to the appropriate currency.
When should I pay my balance?
You should pay at least 4 days before your due date to avoid interest or late fees, so you can ensure your repayment is processed in time.
Where can I find my transfer details?
Your Loop Dashboard provides the payment details for each currency balance.