Overview
Operating Accounts let your business transact locally in multiple currencies — Canadian Dollars (CAD), U.S. Dollars (USD), Euros (EUR), and Pounds Sterling (GBP).
Unlike simple currency wallets, these are real local accounts with full banking credentials. You can receive payments, send transfers, and hold balances directly in each currency without forced conversion.
Each account operates through the local banking networks in its region, giving you faster payments, lower costs, and smoother integrations with global platforms like Shopify or Stripe.
How Operating Accounts Work
When you open a Loop Operating Account in any supported currency, you receive genuine local bank details that enable you to transact like a local business:
CAD (Canadian Dollars)
Comes with Institution Number, Transit Number, and Account Number.
Supports local Canadian EFT payments (Electronic Funds Transfer).
Enables direct receipt of CAD payments from customers or platforms in Canada.
USD (U.S. Dollars)
Includes Routing Number and Account Number.
Supports ACH transfers and local USD transactions within the U.S.
Lets you receive USD payments from U.S. customers or U.S.-based platforms without wire fees.
EUR (Euros)
Provides an IBAN and BIC.
Supports SEPA payments across the EU.
Lets you send and receive EUR payments as if you held an account in the Eurozone.
GBP (Pounds Sterling)
Includes a Sort Code and Account Number (and IBAN where applicable).
Supports Faster Payments and other UK local transfer systems.
Lets you receive GBP locally from UK customers or platforms.
Key Benefits
Real local banking access — Each account includes the identifiers needed to send and receive local payments.
Faster, lower-cost transfers — Local payment rails (ACH, SEPA, Faster Payments, EFT) are cheaper and quicker than wires.
Multi-currency flexibility — Hold balances and pay in the same currency you receive.
Better integrations — Connect your Loop Operating Accounts to payment platforms and partners that require local banking details.
FAQs
What’s the difference between a Currency Account and an Operating Account?
A Currency Account lets you send funds in that currency. An Operating Account adds real local banking identifiers (routing number, IBAN, sort code, etc.), enabling you to receive local payments directly.
Do I need to pay extra to open an Operating Account?
No. There are no monthly fees or minimum deposits. You’ll just need to complete a quick setup form to activate each currency’s operating account.
Can I use these accounts with Shopify, Stripe, or other platforms?
Yes. You can share your local banking details directly with these platforms to receive funds in the matching currency.
Can I hold multiple currencies at once?
Yes. You can maintain balances in all supported currencies — CAD, USD, EUR, and GBP — without automatic conversion.