Overview
Loop makes it easy to set up a U.S. bank account for your business without visiting a branch. Once your account is active, you’ll receive a unique US account and routing number. This enables you to send and receive USD payments as if you were banking locally in the U.S.
In this article, you’ll learn how to open your Loop U.S. bank account and what documents you’ll need to complete the process.
What you’ll need
Before starting, have the following documents ready:
A Canadian passport valid for at least 6 months
OR
A non-Canadian passport valid for at least 6 months and a Canadian PR Card
OR
A U.S. SSN Card
Note: Photos of the Passport must show the full two-page spread, including the photo and signature pages.
Steps to set up your Loop USD Account
Go to your Accounts tab in Loop.
Select U.S. Dollar Account.
Click Open a Free Local USD Account.
Complete the setup form. You’ll need to provide:
Your Business Number (BN)
Your Business Formation Date
A copy of your passport to upload
Submit your application and relax — Loop will handle the rest.
Your new U.S. account details (including account and routing number) will appear in your Loop dashboard within 2 business days.
Tips
Ensure your uploaded documents are clear and legible.
You’ll receive an email notification once your account is active.
Once set up, you can send and receive USD payments just like a U.S. business account.
FAQs
How long does it take to open my U.S. account?
Within two business days after submitting all required information.
Can I receive payments from platforms like Amazon or Shopify?
Yes, your U.S. account supports payouts from marketplaces including Amazon, Shopify, PayPal, Etsy, and Stripe.
Is there a fee to open a U.S. account?
No — opening a Loop U.S. Dollar Account is free.
Can I use this account to pay suppliers?
Yes. You can pay U.S. suppliers in seconds, free of charge.