Get transparent FX rates and honest pricing with no fine print, confusing structures and never any surprises.
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FX fees
0% on CAD, GBP, USD and EURO
0% on CAD, GBP, USD and EURO
0% on CAD, GBP, USD and EURO
Physical cards
2 free cards
($5 thereafter)
10 free cards
($5 thereafter)
10 free cards
($5 thereafter)
Virtual cards
20 virtual cards
Unlimited virtual cards
Unlimited virtual cards
Card type
Credit or secured
Credit or secured
Credit or secured
Reward points
1 Loop point on all card spend
2 Loop point on all card spend
2 Loop point on all card spend
Users and cardholders
Unlimited
Unlimited
Unlimited
Apple + Google Pay
Coming soon
Coming soon
Coming soon
Free local bank account details
US, UK and EU
US, UK and EU
US, UK and EU
Account deposits (ACH, SEPA or Faster Payments)
$0
$0
$0
Account minimums
$0
$0
$0
Account fees
$0
$0
$0
Wire fees for international payments
$0
$0
$0
Sending limits
No limit
No limit
No limit
Supported countries
180+
180+
180+
Supported currencies
37
37
37
Processing fee
0.5% + $1
0.25% + $1
lower of $10 or 0.1%
Supported billing currencies
USD and CAD
USD and CAD
USD and CAD
Cards and payments in other currencies
0%
0%
0%
Currency conversion
0.50%
0.25%
0.10%
Mobile receipt capture
Free
Free
Free
Quickbooks and Xero integrations
Free
Free
Free
Custom rules and approval flows
Unlimited
Unlimited
Unlimited
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.
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.
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.
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.
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.
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