Most payments sent from your Loop account complete within 1–3 business days, depending on the payment method, currency, and destination. Some transfers — like internal Loop payments — complete instantly.
Overview
When you send a payment from your Loop account, the completion time depends on how the funds are being delivered and where they're going. Domestic transfers (like EFTs or Interac in Canada) are typically faster, while international payments can take longer due to processing across multiple banking networks.
Typical processing times
Payment Type | Estimated Completion Time | Notes |
EFT (Canada) | 1–2 business days | Sent to Canadian banks via the EFT network. |
Interac e-Transfer (Canada) | Usually same day | Completion depends on the recipient's bank setup. |
Local payments (non-Canada) | 1–3 business days | Within the same currency or region. |
SEPA Credit Transfer (Eurozone) | 1 business day | Standard euro transfer across the SEPA network. |
SEPA Instant (Eurozone) | Same day | Processed in near real time, including outside business hours. |
Faster Payments (U.K.) | Same day | Processed in near real time, including outside business hours. |
International payments (SWIFT / wire) | 2–3 business days | Depends on the destination country, bank, and intermediary networks. |
Payments between Loop accounts | Instant | Funds move immediately between Loop users. |
Notes
Most payments are processed on business days only; weekends and public holidays can extend completion times.
Payments funded from a connected bank account must first settle into Loop before we send them out, which can add up to 4 extra business days.
You can track payment progress in your Dashboard under Recent Transactions.
Delays may occur if additional compliance or verification checks are required.
FAQs
Why is my payment still showing as pending?
Payments may remain pending while Loop waits for partner bank settlement.
Do international payments take longer?
Sometimes — SWIFT and cross-border transfers often involve intermediary banks that can add 1–2 extra business days. Where possible, Loop uses local payment rails to speed up payment timelines.
Are payments processed on weekends?
Most payments are only processed Monday to Friday, excluding public holidays. Some rails run 24/7 — SEPA Instant and Faster Payments can process the same day, including on weekends — while wires and other local payment rails operate Monday to Friday only.
Can I cancel a payment after sending it?
Depending on the payment type, cancellations may not be possible once processing has begun. Contact Loop Support immediately if you need assistance.