Loop · Fintechs and neobanks
Loop Global Business Banking Account review
Loop’s Global Business Banking Account gives Canadian companies free local accounts in CAD, USD, GBP and EUR, with unlimited local transfers over EFT, ACH and SEPA and up to 20 virtual cards on the Basic plan. It pairs naturally with Loop’s corporate card for businesses that earn and spend across borders.
Who Loop is best for
Canadian companies selling into the US, UK or Europe and businesses wanting local account details abroad.
Sole proprietors.
Loop’s Global Business Banking Account gives Canadian companies free local accounts in CAD, USD, GBP and EUR, with unlimited local transfers over EFT, ACH and SEPA and up to 20 virtual cards on the Basic plan. It pairs naturally with Loop’s corporate card for businesses that earn and spend across borders.
Fees, features and eligibility
| Monthly fee | C$0 (Basic) |
|---|---|
| Transfers | Unlimited local transfers (EFT, ACH, SEPA) |
| FX and international | No FX fee on card spend in CAD, USD, GBP and EUR |
| Account type | Fintech account |
| Currencies | CAD, USD, GBP and EUR |
| Who can open it | Registered Canadian corporations |
Source: Loop published product information.
What stands out
Pros
- No monthly fee on Basic
- Unlimited local transfers
- Up to 20 virtual cards
Cons
- Registered corporations only
Loop: common questions
Is the Loop account free?
The Basic plan has no monthly fee.
Which currencies does Loop support?
CAD, USD, GBP and EUR.
How do Loop transfers work?
Local transfers are unlimited over EFT, ACH and SEPA.
Used Loop? Help other businesses choose.
