#bankonloop — Public Fediverse posts

As an #ecommerce seller that sells worldwide, I deal with many different currencies and exchange rates. Mostly CAD, USD, EUR, GBP.

But normal traditional banks are very limited in that regard. Most of them only deal in CAD and have expensive hidden fees if you use any other currencies. #bank

There are a few newer Canadian banks looking very promising that try to solve this problem. Like Loop (bankonloop), that targets Canadian businesses. #loop #canada #bankonloop

https://www.bankonloop.com

But I think it's still too new for me to use. It still needs to mature. For example:
- It doesn't support #interact payments.
- It doesn't support wire transfer for its canadian accounts.
- I get weird issues related to the locations of those bank accounts.
- etc

For now, I use #wise, but I hope I get to switch to a Canadian alternative like Loop soon.