The Loop Blog

Best No FX Fee Credit Card: Save $40K Annually

Foreign exchange fees silently drain 1-5% from every international transaction—here's how no FX fee credit cards with multi-currency support can save your business $40K+ annually.

Best Business Bank Accounts for Canadian International Trade

Best Small Business Bank Accounts for International Payments 2025

The right small business bank account can save Canadian companies $40K+ annually—here's how fintech platforms with zero FX fees are outperforming traditional banks charging 3-4% markups.

Cut Cross-Border Payment Fees: Canadian Business Guide

Cross-border payments drain Canadian businesses $15K-$40K yearly through hidden bank fees—here's how multi-currency accounts and zero-FX corporate cards cut costs by 85-90%.

Partner Spotlight: FundThrough - Turn Invoices into Cash in Days

Loop has partnered with FundThrough to speed up your cash flow, all through invoice factoring, to help you grow your business.

Partner Spotlight: Mantle, a modern cap table management platform

Stop managing your cap table with risk-prone spreadsheets. Mantle offers a simple, compliant platform for Canadian founders managing equity, options, and SAFEs. For a limited time: get up to 10% back on Mantle

Loop vs. Float: Which solution is best for Canadian SMB exporters?

Loop and Float may serve similar teams, but Loop is purpose-built for companies operating globally, offering the multi-currency banking and FX capabilities Float lacks.

Loop vs. Wise: Which platform handles cross-border business better?

Wise and Loop are two popular platforms for companies that operate internationally. Both help businesses manage multiple currencies and pay suppliers abroad, but they’re built for different needs. If you’re a Canadian business buying, selling, or hiring internationally, here’s how Wise vs Loop really compare.

Amex Business Platinum vs Loop

Loop replaces the high fees and FX costs of Amex Business Platinum with a no-fee, no-FX corporate card built for real global spending, making Amex better suited for travel perks while Loop becomes the smarter default for day-to-day international spend.

RBC Cross Border Banking vs. Loop: A Modern Alternative for Cross-Border SMBs

Loop delivers what RBC’s cross-border setup can’t: low FX, multi-currency accounts and no-FX corporate cards all in one platform. We give modern Canadian businesses a simpler, cheaper, and more global way to operate without the overhead of traditional banking.

Loop vs. Venn: Which solution is best for Canadian SMB exporters?

For Canadian businesses selling into the U.S., Europe, or other global markets, financial tools play a huge role in growth. Both Loop and Venn support multi-currency operations, but they’re built for different needs. Here’s how they compare for export-focused SMBs.

Best Banking Tools for Canadian Manufacturers Working With Non-Canadian Suppliers

Loop gives Canadian manufacturers a faster, smarter way to pay global suppliers by cutting FX costs, using local payment rails and keeping every currency organized. We turn cross-border payments into a smooth, predictable part of your supply chain so production stays on schedule and margins stay protected.

The Real Cost of Cross-Border Payments & How to Avoid Them

Loop cuts out the hidden fees, forced conversions and slow transfers that quietly drain money from every cross-border payment. We give Canadian businesses fast, transparent, multi-currency banking that keeps more revenue in your pocket and unlocks smoother global growth.

The Smart Way for Canadian Businesses to Manage Money Across Multiple Currencies

Loop gives Canadian businesses an easy way to hold, move and spend multiple currencies without forced conversions or hidden fees. It’s the modern, flexible system that keeps global cash flow steady as you scale.

When Does a Canadian Business need a US Bank Account?

Loop becomes essential once USD is part of your daily operations, whether you are earning in USD, paying U.S. suppliers, running ads, or growing a U.S. presence. It gives Canadian businesses a simple way to hold, move, and spend USD through local rails without the complexity of opening a traditional U.S. bank account.

Setting Up a U.S. Bank Account as a Canadian Business

Loop makes it easy for Canadian businesses to open a true USD account with ACH access, with no U.S. entity or travel required. It’s the simplest way to collect, hold, and spend USD without the complexity of traditional U.S. banking.

Small Business Week: Let’s Support Entrepreneurs With Action, Not Ads

Loop celebrates Small Business Week by spotlighting how it delivers the kind of global banking support most small businesses never get – transparent pricing, fair FX, and real human service.

Move Money Faster with Interac e-Transfer®

Moving money into your Loop account is now faster. Receive money into your Loop CAD Operating Account with Interac e-Transfer Autodeposit.

The Future of Canadian Commerce Isn’t South of the Border

At the end of last month, over 1,000 ecommerce founders gathered in Toronto for the Ecom North Summit. Beneath discussions about conversion rates and ad spend, something more fundamental was happening: Canadian founders were choosing to build and stay in Canada.

RPAA, CDIC, and FDIC Explained: Safer Accounts for Canadian Businesses

In Canada, RPAA compliance and CDIC-protected CAD accounts are now the baseline for payment providers. One of the many things that sets Loop apart is access to true U.S. operating accounts with FDIC insurance and native payment rails (ACH/wires), giving Canadian businesses faster settlement, stronger protection, and a real competitive edge when operating cross-border.

How To: Loop’s New and Improved Receipt Scanner

Never Lose Track of Business Expenses Again – Turn any receipt into organized business records instantly - Simply take a photo or forward an email, and our AI automatically reads every detail from your receipts and matches them to your transactions. No more shoebox full of receipts or hours spent typing numbers into spreadsheets.

Loop is Heading Back to Ecom North – Here’s Why it Matters

We're heading back to Ecom North to help Canadian eCommerce businesses protect profits, simplify their financial stack, and stay resilient in the face of uncertainty.

Biggest Mistakes Canadian Businesses Make When Expanding to the U.S.

Expanding into the U.S. exposes Canadian businesses to complex financial risks—from tax and banking differences to currency volatility and cash flow issues. Missteps around legal structure, compliance, and financing can quickly erode profits. Success depends on understanding U.S. systems early and building a cross-border financial strategy from day one.

How International Wires Work

International wire transfers move money across borders through a network of banks, often involving intermediary institutions that add fees and delays. Businesses can optimize costs and speed by using local payment networks, verifying recipient details, and leveraging modern fintech solutions like Loop for transparent pricing and faster transactions.

How much is your credit card charging you in foreign exchange fees?

Canadian businesses lose thousands annually to hidden FX fees from banks and card networks. Loop eliminates these fees by allowing businesses to hold and spend in multiple currencies, improving cash flow and reducing international transaction costs.

How Canadian Businesses Can Reduce Stripe Fees

Discover how setting up an optimized USD payout solution eliminates currency conversion fees, gives you control over exchange rates, and helps Canadian businesses save money compared to Stripe’s default payouts.

Loop Launches Canada’s First Multi-Currency Credit Card for SMEs

Loop, the global financial platform used by thousands of Canadian businesses to manage their international finances, is thrilled to announce the launch of the Loop Global Visa Card - Canada’s first card tailored specifically for small and medium-sized enterprises (SMEs) that need to manage cross-border purchasing.

Worldfirst Fees

Worldfirst provides international money transfer services for Canadian businesses, with no upfront fees but using exchange rate markups. They offer three main services: private transfers, corporate payments, and an online seller platform that handles 8 currencies. While they use the SWIFT network which can incur additional bank charges, their main competitor Loop offers mid-market exchange rates with transparent fees. The article compares these services to help businesses choose the most cost-effective option for their international payments.

Announcing Our New Funding Round to Accelerate Loop’s Mission to Build a Global-First Finance Platform

Announcing our latest funding round to help Loop continue our mission to to make it easier and more affordable for businesses to grow internationally.

Key Challenges and Insights from Founders at Ecom North

Founders from the e-commerce community joined our founder on a panel to share their experiences, insights and advice on selling into retail.

What is a Multi-Currency Card?

Making international transactions often comes with the hassle of currency conversion and hefty fees. Loop is here to simplify this process.

Streamline Your Expense Tracking: Introducing Email Receipts to Loop

Guide: Corporate Credit for Canadian Businesses

Get corporate cards powered by credit with no annual fees, FX fees or hidden fees. Grow your business with credit that scales as you grow.

A look back at 2023

We launched some shiny new features in 2023 and are excited to launch even more in 2024.

Request Payment Details via Email

It's easier than ever to send payments! Request payment details with just an email address.

Loop partners with Fashion Art Toronto to spotlight Toronto’s growing community of fashion founders

In mid-November, Toronto Fashion Week is in full swing, enabling the city to catch a glimpse of the sheer talent and creativity of Toronto based designers.

Best US Bank Accounts in Canada: A Comprehensive Guide

Manage your cash flow flexibly with Loop

Get access to business credit with flexible repayment options.

A new chapter begins for Loop

Introducing our new look and even more powerful financial services for growing businesses.

Streamlined Payments with Loop: Pay Direct from External Bank Accounts

Connect your bank account to streamline your payments at Loop.

Shopify stores eliminate cross-border banking fees with Loop

Pairing your Loop US bank account with Shopify Payouts is a perfect way to streamline your US ecommerce operations and save thousands in banking fees.

Get a higher credit limit than your bank by connecting your sales channels to Loop.

As your sales grow, your credit limit with Loop also increases. Connect your Shopify, Amazon, Paypal and Stripe channels directly to Loop. No personal credit check or guarantee required.

Effortless Multi-currency Banking

We’ve Launched An Updated Experience to Make Multi-currency Banking Effortless

Upgrade to lock in the best rates with Loop Plus

Upgrade to lock in the best rates, with just a small monthly fee.

50 Metrics for Amazon FBA Sellers

Loop takes Amazon.com sellers to the next level, and it's easy to get started.

How Loop helps Canadians sell with Amazon.com

Loop takes Amazon.com sellers to the next level, and it's easy to get started.

Breaking Out: The Story of Bushbalm's Booming Growth with Loop Financial

Bushbalm joined Loop in September 2022, when they ramped up their sales in the US market.

Local EUR and GBP Banking

Sell In Europe? Get Paid in Euros (€) or British Pounds (£) with Loop!

Streamline Your Accounts Payable

Configurable Approval Workflows For Your Business Payments

The Better Way To Manage Receipts

Say goodbye to your clunky, old and expensive expense management systems. Use Loop to automatically track your expenses and save some previous hours for both yourself and your team.

Enabling Ciele Athletics To Run Faster 🏃‍♀️

Ciele chose Loop because they needed a banking solution that could keep up with their business. They had a growing amount of spending in the US and their old bank credit cards charged them high FX fees whenever they spent in USD. Loop changed that.

Enable App-Based Multi-factor Authentication with Loop

Secure your Loop Account with an App-Based Multi-factor Authentication

Redeem Your Loop Points For Rewards

With Loop's new rewards feature, you can now easily redeem your Loop Points for gift card rewards.

Navigating the Challenges of Cross-Border Trade: Solutions for CDN Businesses selling to USA customers

There are a variety of solutions available to help Canadian businesses succeed in the USA. In this post, we'll explore some of the most effective options and provide tips on how to choose the best solution for your business.

How to Dispute Errors on Your Business Credit Report

Being declined for credit? You are legally entitled to dispute any inaccuracies on your business credit report.

5 Steps to Incorporating a Business in Canada

Thinking about incorporating? Let's take a look at what business incorporation actually is, what the pros and cons are, and what the steps to incorporating your business look like.

Clickship partners with Loop to support Canadian ecommerce businesses to grow across borders

Clickship, the innovative easy-to-use shipping solution for eCommerce stores, has partnered with Loop, the banking platform for Canadian businesses, to help their businesses save money and accelerate their growth.

Introducing Loop Offers

We’re excited to announce the launch of Loop Offers - a unique and tailored group of exclusive offers which are provided to all Loop members.

Loop partners with Canadian Women in Food to support women-owned businesses

Loop and CWIF share a common mission to support the growth of women entrepreneurs with access to best-in-class tools, resources and capital.

The Loop US Dollar Account Has Arrived

As a Loop cardholder, you are now able to open a free US Dollar Account. Unlike accounts with Canadian banks, the Loop US Dollar Account is US-based which means that you will get a local US ABA Routing Number and your own unique account number.

Loop Enabling Canadian Ecommerce Founders to Do Business Around the World

Global banking for Canadian ecommerce businesses has arrived!

The Definitive Guide to Ecommerce Inventory Management

Learn about the basic concepts of inventory management for ecommerce stores.

Say Hello to Loop Card

A corporate card for your ecommerce business.

The Ultimate Guide to Canadian Business Credit Scores

We have created this guide to help you understand, improve and take advantage of your good credit score.

Inventory Management 101: Lead Times for Ecommerce Businesses

Lead times are an extremely important factor when figuring out your inventory management strategy for your ecommerce business. Learn more about the basics you should have in mind.

How to Test New Product Lines Before Investing in Inventory

A quick guide on how to test new products before making major investments on infrastructure, inventory and your team's resources.

How to Build Your Small Business Credit Score

Similar to your personal credit, your small business has its own separate credit score.

How to Build and Establish Business Credit In Canada

One of the most important aspects of running a business is establishing a reputation with strong credit.