Send E-Transfers in USD

While Interac e-transfers don't support USD transactions, Canadian businesses now have a powerful alternative: Loop.

Loop enables you to send electronic transfers in US dollars seamlessly and efficiently.

Access the American Banking System from Canada

Loop provides Canadian businesses with direct access to the US banking system, complete with full banking details. This means you can:

- Send unlimited ACH transfers in USD
- Receive a dedicated US account number
- Get your own US routing number
- Operate like any American business without registering as a Canadian business
- Enjoy FDIC insurance protection for your funds. Funds deposited into US Dollar Business Accounts may be eligible for up to $250,000 of FDIC insurance. The FDIC’s deposit insurance coverage only protects against the failure of a FDIC-insured depository institution.

Zero Fees, Unlimited Potential

What makes Loop particularly attractive for Canadian businesses is its cost-effective structure:

- No monthly account fees
- Unlimited transactions at no extra cost
- No hidden charges or maintenance fees

How It Works

When you sign up with Loop, you receive legitimate US banking credentials that function exactly like those of any American business. This means you can:

1. Send direct deposits
2. Process payroll in USD
3. Pay US-based vendors and suppliers
4. Receive payments from US clients
5. Manage your US dollar transactions efficiently

Benefits for Canadian Businesses

Having a US banking presence through Loop offers several advantages:

- Simplified Cross-Border Payments: No more complicated wire transfers or currency conversion headaches
- Cost Savings: Eliminate international wire fees and reduce currency exchange costs
- Professional Appearance: Present yourself as a local business to US clients and partners
- Better Cash Flow Management: Handle USD transactions directly without converting to CAD

Getting Started

Setting up your US banking presence with Loop is straightforward. Once your account is active, you'll have all the tools needed to manage your USD transactions efficiently and professionally.

The ability to send electronic transfers in USD is no longer a luxury – it's a necessity for Canadian businesses operating in today's global market. With Loop, you can now handle your US dollar transactions as easily as your Canadian ones.

Loop is a financial technology company and not a bank. The Loop US Dollar Business Accounts are provided and issued by Lewis & Clark Bank, Member FDIC. Funds deposited into US Dollar Business Accounts may be eligible for up to $250,000 of FDIC insurance. The FDIC’s deposit insurance coverage only protects against the failure of a FDIC-insured depository institution.