Send local or international payments in just a few steps. Add your recipient as a payee, choose your funding source, and Loop automatically selects the most cost-effective network — like SWIFT, ACH, EFT, or Faster Payments — based on your payee's country and currency.
Overview
Loop makes it simple to pay vendors, suppliers, and contractors around the world in 25+ global currencies — without needing multiple bank accounts. You can even send local payments in the US, Europe, the UK, and more, while funding them from Canada.
When you add a payee, you set their country and currency, and that determines the payment rail Loop uses. Loop routes your transfer through local rails where applicable to reduce costs and improve speed.
How do I send a payment?
Add a payee.
Navigate to Send Payments and click Add Payee. Enter the recipient's name, address, and country and currency. Loop will then prompt you for the banking information required for the best payment rail (such as a routing number, IBAN, or SWIFT/BIC code).You can also request these details directly from the payee. Loop sends them an email to complete the details, which automatically update in the platform once finished.
Start a new payment.
Go to Send Payments and select the payee from your saved list. Choose your funding source — either your Loop account or a connected external bank account. (Your funding source does not change the payment rail.) Then enter the amount. The currency is already set on the payee, so you only need to enter the amount.Confirm payment details.
Review all information carefully, including the exchange rate and recipient details. Loop automatically determines the most efficient payment route based on the payee's country and currency.Send and view confirmation.
Submit your payment. Once sent, you'll receive a confirmation and can download a payment receipt from your Loop Dashboard.
Key features and considerations
Multi-currency support: Send payments in over 25 global currencies, including USD, GBP, EUR, CAD, and more.
Local payments worldwide: Send funds as local payments in the US, Europe, the UK, and more — even when funding from Canada.
Automatic network selection: Loop routes your payment through local rails where applicable to optimize for speed and reduce costs.
Transparent exchange rates: All fees are included in the displayed exchange rate — no hidden costs.
Payment approval controls: Set approval limits and roles to manage who can send payments.
Connected accounts: Fund payments using your Loop account or a linked external bank account.
Payment confirmation emails: You can automatically send a payment confirmation email to the payee.
FAQs
Which countries can I send payments to?
You can send payments to most major global regions. Availability may depend on currency and destination country.
What types of payment methods does Loop support?
Loop supports major global and local payment networks:
SWIFT (international wire transfers)
EFT (Canadian local network)
ACH (US local network)
SEPA (European local network)
UK Faster Payments (UK local network)
IMPS & NEFT (Indian local network)
PESONet (Phillipine local network)
SPEI (Mexican local network)
Direct Entry (Australian local network)
How long do payments take?
Most payments arrive within 1–3 business days, depending on the recipient's location and network. Some payments are made same day.
Are there additional fees for international payments?
The exchange rate shown before you send includes all of Loop's fees. However, intermediary or receiving banks may apply their own fees, which can result in the recipient receiving less than the amount Loop sent.
Can I track a payment?
Yes. You can view payment status and download confirmation details in your Loop Dashboard.
Do I need to choose a payment method (ACH, SWIFT, etc.)?
No — Loop automatically selects the best method based on your payee's country and currency.