Loop

As Canada waits for open banking, Toronto-based @bankwithloop says its new direct API connectivity gives business clients more control over their data sharing. betakit.com/loop-aims-to-m…

@ecomjeg @humankind_place Thanks for the mention @humankind_place! @ecomjeg we’re here to support, reach out if we can help you get set up

@humankind_place @bankwithloop Oooh Imma dm u

My Shopify store’s based in Canada. I sell in USD. I get paid in USD. Yet I’m still getting slapped with insane fees on every order: 🇺🇸 US: 3.5% + 1.5% payout fee 🇨🇦 CA: 2.8% + 2% FX + 1.5% payout fee Is it really as simple as changing my store address to the US? Pls send help 😩

@moizali Check us out at bankonloop.com - you can use us to open up a local US Dollar Bank Account which can be connected to PayPal, Shopify, Stripe or any major payment processor - helping you avoid all FX fees.

Request for help: How do you transfer foreign currency from Paypal into USD without paying Paypal's crazy exchange rate? For instance, if you have $10K CAD and $10K GBP, how do you get them into USD without paypal killing you? I thought you could sync WISE to your Paypal account, but you can't.

@Riyazzz Definitely not! Can you PM us your email so can look into this?

@bankwithloop been waiting for a reply from support for days, is this normal?

@CTCooked We just sent a dm!

@bankwithloop I can’t message you because I’m not verified

It's almost year end - if you're a Canadian business, you're probably going to be shocked by the amount of fees you pay to just "bank". That means fees to get paid by Stripe, Shopify, access your bank accounts, transactions, exchange currency etc. There is a better way.

@CTCooked 👀Hmm, would love to investigate! Can you dm us your email and we can take a peek? In the meantime, check your spam for any notifications from support@bankonloop.com.

@bankwithloop Just signed up with loop last week but still waiting to be approved

If you're based in Canada, you can get no fee access to American banking - allowing you to just bill your US clients without the need for Stripe as an intermediary. That can add up to 6% back to your bottom line.

@scottastevenson If you're based in Canada, you can bill your clients directly from a banking platform with fees as low as 0.10% per invoice.

Just broke out Stripe Transaction Fees as its own line on the P&L... Instantly gave me new feelings about Stripe😅

@awilkinson Hey! You should check out @bankwithloop! We offer global banking, credit cards, capital, FX, AP + AR payments and more! We're based right in Toronto which means - yes, now you can get the cool stuff. Check us out at bankonloop.com

I'm trying to build a modern finance stack for my family office (follypartners.com) and automate it as much as possible We are based in Canada🇨🇦, which means we don't get all the cool stuff. Here's what it needs to do: • Banking + credit cards • Monthly net worth + investment reporting (stocks, bonds, cash, treasuries, private equity + venture) • Monthly operational reporting (P&L, balance sheet, cashflow) • Bookkeeping • Accounts payable / accounts receivable • Legal document repository • Annual corporate filings + management Here's what I'm thinking we'll use, but I'd love feedback and tips: • @tryvault for banking, credit cards, AP + AR payments • @Xero for bookkeeping • @MyFO_Tech for net worth + investment reporting • @fathomhq for operational reporting (P&L/BS/Cashflow) • @OwnrCo for annual filings + management What am I missing? Also - is there anyone who is incredible at finance process automation and familiar with Canada that I should hire to help?

We're very proud to be counted as part of the top fintechs in the world according to @CNBC cnbc.com/2023/08/02/cnb…

Your bank should be a partner to your go-to-market strategy. Should help you unlock new revenue streams - profitably and help you scale in new markets. See how Tab Commerce (🇨🇦 Toronto based start-up) did all that with Loop 👇 bankonloop.com/case-studies/t…

@KamranxRahman @Cato_P4 @awilkinson Hey Kamran! Thanks for this feedback, we're working to improve the onboarding process and make it faster. Our CS team is happy to give you a call at any time today and make sure you're set up for success. Chat soon!

@Cato_P4 @awilkinson @bankwithloop Not the best signup/on-boarding process though. Would definitely advise to check that

I'm astounded by how good the modern finance stack is for US-based businesses. Stripe Atlas. Mercury. Deel. Etc. But I'm based in Canada. Almost all my businesses are domiciled here. Canadian operators: what is your fintech stack? Curious what companies/tools we should be using.

@KamranxRahman Hey Kamran! Our CS team mentioned the email was sent out - check your Spam/Junk folder just in case. We'll reach out to you via DMs just in case as well.

@bankwithloop Nothing yet though and no phone numbers to contact? 😅

@bankwithloop your sign up process might be broken… my partner received a consent form to sign (49% shareholder) and he can’t even click the consent form button in the email. No way to finish this…

@sameerhasan @awilkinson If you get tired of good ol' RBC, there's us - the newer, leaner and faster bank...and way less fees too. Loop does banking, credit, payments, FX and more. Check us out at bankonloop.com

@awilkinson Rippling for payroll and US EOR (vs deel) otherwise still QuickBooks and good ol' RBC!

Canadian #amazonfba sellers deserve a banking relationship that prioritizes their growth. With Loop, access no-FX credit cards (with limits up to $1M), get faster and no-fee payouts with global bank accounts (for free) and more. Get started at bankonloop.com/amazon-sellers

@nicolecasperson Following this thread so we can find some great people to work with!

Who's a person that has showcased great allyship (advocacy & amplification) for the women in fintech community? Drop their name - I want to meet them for a thing I'm working on 👀👀👀

@KamranxRahman @awilkinson Wise can be great! But we also do corporate credit cards, banking, billing and more right here in Toronto! Check us out: bankonloop.com

@awilkinson So far just wise.com and stripe cause it’s all I found 🥲

@digimat @awilkinson We couldn't agree more! But we're trying to innovate for entrepreneurs across Canada! Check us out - we do banking, payments, FX, credit and more. We'd be happy to do a demo if you'd like one. bankonloop.com

@awilkinson It's like they stifle innovation on purpose in Canada. The Gov't should be incentivizing competition, instead we have some of the worst monopolies in North America.