Why do you need my banking information for a loan?

We need your bank information for a few reasons—the most important being that once we're a little more comfortable with each other (meaning you've verified who you are) and you decide to go ahead with a MogoMoney product, the bank account information you've provided is where we'll put your MogoMoney (if you've picked bank deposit as your funding method) and where we will take your agreed-to MogoMoney payment from.