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. |
International payments (SWIFT / wire) | 2–5 business days | Depends on the destination country, bank, and intermediary networks. |
Payments between Loop accounts | Instant | Funds move immediately between Loop users. |
Notes
Payments are processed on business days only; weekends and public holidays can extend completion times.
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 confirms transfer details or waits for partner bank settlement.
Do international payments take longer?
Yes — SWIFT and cross-border transfers often involve intermediary banks that add 1–2 extra business days.
Are payments processed on weekends?
No. Payments are only processed Monday to Friday, excluding public holidays.
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.