Banking for the Ecom North Community 🇨🇦

Canadian eCommerce brands use Loop to manage their credit, global banking, payments and capital in one platform.

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Trusted by leading global brands
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Save an average of 5.7% every time you spend

FX fees on credit cards with traditional banks can be steep.
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Spend like a local in CAD, USD, GBP and EUR
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No annual fees
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No hidden fees
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No minimum spend required
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Get rewarded on all spend
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Get up to a $1M credit limit for your online store. 

Get approved for higher limits than what the bank can get you. Loop assesses your revenue so you can get limits that scale with your growing business.
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Use credit to spend in CAD, USD, GBP and EUR
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Applying won't affect your personal score
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Get 55 days to make a payment
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The card that rewards you

Every purchase you make on your Loop card earns you points that you can use for rewarding experiences like travel and more
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Better value than cashback
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Redeem at brands like Amazon, Uber, Air Canada and more
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Transparent earning with no tiers or "limited-time" offers
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Robust expense management to empower your team

Give your team autonomy with accountability by setting flexible internal controls that are customizable to your own internal policies.
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Create virtual cards for spend across multiple functions and currencies
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Set flexible spending and freezing rules
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Set unlimited approval flows
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Digital receipt capture for verification
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Integrate with Quickbooks and Xero for seamless reconciliation
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Add unlimited team members for free
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Don’t just take our word for it

Hear from visionary startups and leading brands who use Loop to build thriving businesses.

The Loop US bank account is completely life changing for our business. In our first year using Loop, we will benefit from about $50k in gains straight to our bottom line. So a really big thank you for coming out with this product.

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Jordan Kendal
CEO, Sheet Happens

Our business was looking for working capital when we discovered Loop. Getting the capital we needed was simple, fast and a big game changer for us. We've seen immediate results and continue to partner with Loop.

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Ben Kelly
CEO, Pure Muskoka
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If you're a Canadian ecommerce merchant, you should get a Loop card. They have fixed all our cash flow issues, FX costs and issues with paying suppliers around the world. Saving us lots of money and headaches. Plus their team is great!

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Dante Timpano
CEO, DT Ecom
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Loop vs Banks

Loop is the ultimate no-FX credit card designed to help you grow your business offering the lowest fees, best-in-class rewards, longer interest-free spending periods and repayment flexibility.

Loop

Traditional Banking

No annual fees

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$99 - $699

No monthly fees

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$25+

No FX fees on purchases

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Avg. 5.7%

Repay in multiple currencies

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No

Credit limits

Based on Business

Based on FICO

Earn rewards on USD spend

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No

Frequently Asked Questions

What do you mean by “spend in other currencies with no FX”?

Loop offers multi-currency cards that are not locked into just spending with one currency. You can spend in CAD, USD, EUR and GBP with your Loop card, without incurring FX fees on your purchases. Your balances owing are displayed per currency, and can be settled per currency as well. Because your Loop Card allows you to pay back in the currency you spent in, you won’t have to perform any unwanted currency conversions.


How do I pay my balance back in foreign currencies?

You will be able to see multiple balances outstanding on your Loop dashboard (one for each currency). If you have Canadian-based foreign currency accounts (eg. a USD at a Canadian bank), you can then transfer against the outstanding balance of each currency directly from your bank account to your Loop Card balance at the end of your billing period.


What if I don't have a USD, EUR, or GBP currency account or enough money in it to pay back the balance I owe?

If you only have a CAD bank account, you can still make purchases in foreign currencies without the card converting it to CAD. At the end of your billing period, you can then decide to convert money from your CAD account into the currencies you owe. If you need to do this, Loop offers global FX conversion with a 0.5% mark-up. This is significantly less than a bank, which charges a 3-4% markup on average and it’s even better than online FX service providers like Transferwise and OFX.


What are the FX fees?

We have eliminated as many fees as possible to keep things as simple as possible for you. Card transactions that match any of the currencies enabled on your card don’t result in any FX and therefore are completely free. If you spend in a currency that is not enabled on your Loop card the FX fee will be the Mastercard® rate plus a 0.1% - 0.5% markup depending on your Loop subscription plan.

If you only have a CAD bank account, you can still make purchases in foreign currencies without the card converting it to CAD. At the end of your billing period, you can decide to convert money from your CAD account into the currencies you owe. If you need to do this, Loop offers low-cost FX conversion with only a 0.1% - 0.5% mark-up (depending on your Loop subscription plan). Most banks charge a 3-4% markup on average.

In most cases, Loop's FX rates are even better than online FX service providers like Transferwise and OFX. When you need to exchange currencies, doing your FX through your Loop Card significantly saves businesses both time and money.


How many cards can I get?

Free users will get up to 20 virtual cards and up to 2 physical cards. Loop Plus and Power users will get unlimited virtual cards and up to 10 physical cards. Loop Cards should be used only for their intended purposes, such as making online purchases, paying bills, paying for advertising or managing subscription services. If you have any questions about our fair use policy or any other limitations on virtual card creation on our platform, please contact our customer support for further assistance.

Case Studies

Loop is saving clients
$40k per year

See how Loop is helping businesses accelerate their business, while maximizing much needed cashflow.
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