Overview
Once your external bank account is connected to Loop, you can fund your Loop account with a click of a button. Loop deposits typically clear in up to 4 business days. Some customers may qualify for faster clearing times of 1–3 business days, depending on their account history and overall profile. Eligibility is reviewed on an ongoing basis, and approval is not guaranteed.
Faster Deposit Clearing Times
1. Standard Clearing Time
Deposits typically clear within 4 business days. This is consistent with industry-standard processing timelines.
2. Faster Payment Clearing Timelines
Some customers may qualify for faster clearing times of 1–3 business days, depending on their account history and overall profile.
3. Eligibility for Faster Clearing
Eligibility is reviewed automatically based on your account profile and transaction history. Faster clearing is dependent on eligibility review and cannot be guaranteed. As you continue using Loop, you may become eligible over time.
4. What Can Impact Eligibility
Eligibility is reviewed regularly. Using Loop consistently may increase eligibility, and strong account history and responsible usage will be rewarded over time.
Missed payments, NSFed transactions are examples of behaviours that will negatively impact a customer’s ability to participate in the program
Important: Faster clearing is not guaranteed, even if you meet the eligibility criteria.
Notes
Weekends and holidays can affect processing times.
If a transfer hasn’t arrived after 4 business days, contact Loop Support.
Faster clearing is not guaranteed.
FAQs
How long do deposits take to clear at Loop?
Most deposits clear within 4 business days.
Can clearing be faster than 4 days?
Yes. Some customers may qualify for faster clearing of 1–3 business days based on their account history and activity.
How do I become eligible for faster clearing?
Eligibility is reviewed automatically based on your account profile and transaction history. Faster clearing is dependent on eligibility review and cannot be guaranteed. As you continue using Loop, you may become eligible over time.
If I’m not eligible today, does that mean I’ll never be?
Not at all. As your business continues to use Loop and builds a longer track record, your eligibility may change.