When your client pays carriers through Loop, each carrier has to be set up before Loop can send it payments. This guide covers each step, who owns it, and how to avoid delays.

A carrier is ready to be paid when:

• Its banking details are submitted and verified.

• It's approved in Loop's payment network.

• Its account has a legal business name and a remittance email.

Who does what

Step-by-step

Step 1: Client shares carrier details

The client sends Loop the following for each carrier:

• Carrier's legal business name

• Main point of contact

• Billing contact (the person who handles payments)

Tip: The main contact often isn't the billing contact. Sharing the billing contact up front avoids delays.

Step 2: Carrier submits banking and invoice details

Loop emails the carrier's billing contact a secure request:

• US bank accounts paid in USD: a link to Loop's secure online form

• Non-USD or non-US bank accounts: Loop's International Bank Form (Canadian carriers paid in CAD use a separate Canada bank form)

The carrier provides:

• Bank account details:

  • US: routing and account number

  • EUR: IBAN

  • GBP: sort code

  • MXN: 18-digit CLABE

  • All currencies except EUR: SWIFT/BIC

• A sample PDF invoice for each currency it bills in

Loop follows up by email until everything is received.

Factoring company? Send a Letter of Assignment (LOA), and Loop will set up the factor as the payee.

Step 3: Bank account verification by phone

Loop's team verifies the bank account with two phone calls to the carrier:

1. A call from Loop's carrier setup team

2. A second call from Loop's finance team

On each call, Loop confirms the bank name, full routing number and full account number.

Loop calls the carrier's publicly listed phone number, not a number given on the banking form. Make sure that number reaches someone who can confirm your banking details, and answer or return Loop's calls promptly. Payments can't be released until verification is complete.

Step 4: Loop sets up the carrier for payment

Loop uses the remit-to address on the sample invoice to set up the carrier in its payment network. Loop then sets the payment method and terms and confirms the carrier's legal name and remittance email are on file.

Step 5: Client approval (if required)

The client also confirms the carrier's banking details directly with the carrier by phone. Then the client emails Loop to confirm the call took place.

The email must:

• State that the client verbally confirmed the banking details the carrier gave them

• Include the name of the person at the client company who made the confirmation

• Include the name and role or title of the person they spoke to at the carrier

• Include the date and time of the call

• Include the phone number used for the call

Loop can't activate the carrier until this email is received.

Sample email:

Subject: Banking verification: [Carrier name]

Hi Loop team,

I confirm that I verbally verified the banking details provided to us by [Carrier name].

• Verified by: [Your name, title]

• Spoke with: [Carrier contact name, role/title]

• Date and time of call: [MM/DD/YYYY, time and time zone]

• Phone number called: [Phone number]

Thank you,
[Your name]

Step 6: Carrier is active

Loop tells the client the carrier is set up. From then on, approved invoices are paid on the client's regular payment schedule.

Read more about checking a carrier's payment onboarding status here: 📄 Payments FAQ

Read more about payments blocked by missing carrier details here: 📄 Payment Issue Discoverability

How to avoid delays

• Use the billing contact, not the main contact, for banking requests.

• Send the right invoice. It should be the carrier's own invoice, in the currency being set up. Not a blank form and not another company's invoice.

• Use the remit-to address from your invoices, not your corporate or legal address.

• Be reachable at your public phone number so Loop can complete both verification calls.

• Watch for emails from Loop. Setup pauses until any requested corrections come back.

Frequently asked questions

Q: How long does setup take?

A: It depends on how quickly the carrier returns its banking details and sample invoice, and how quickly both verification calls are completed. Loop confirms by email once the carrier is active.

Q: Can a carrier be paid in more than one currency?

A: Yes. Each currency needs its own banking details and sample invoice.

Q: How do I update my banking details?

A: If you're already being paid through Loop, contact Loop's dedicated operations team. Every banking change goes through the full setup and verification process again, including both verification calls. Some clients also require approval before a payment goes to a new bank account.