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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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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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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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Loop is a financial technology company and not a bank. We work with financial institutions in Canada, the US, UK and EU to power safe and secure money movement on our platform. For more information, visit bankonloop.com/trust.
Funds held in the Loop Canadian Business Operating Accounts are maintained at Peoples Bank of Canada.
Safeguarding our customer funds is our top priority. Today, we keep your money separate from our own, holding it in secure, segregated accounts. By doing this, we ensure that your funds are fully protected, even in the unlikely event that our company faces financial difficulties. That said, we also want to make sure our customers are protected in the event of a failure by one of our bank partners. To do this, we plan to launch CDIC insurance coverage which will provide government protection for funds held in the Business Operating Accounts within the next 12 months.
We know that many businesses rely on e-Transfers to send and receive funds. We’ll be launching this feature with higher limits so you can use e-Transfers to manage a wider variety of business payments! This feature is already under development and we will notify you once it becomes available!
You can set up pre-authorized debits in your account, however you cannot add payees in your Loop Canadian Business Operating Account yet. This feature is currently under development, and we'll notify you when it's ready.
