OR …. Mogo entered the wrong password for my Interac e-Transfer! Why would they do that?
Why? To comply with anti-money laundering rules, the name on your e-Transfer must match the name on your MogoAccount. If there is a “name mismatch” where the names aren’t a clear match, we don’t accept the e-Transfer.
Rejecting/Declining e-Transfers: Because there is no option for Mogo to cancel or decline an incoming e-Transfer, we enter the password incorrectly 4 times which automatically voids or cancels the e-Transfer and sends it back to you. You might receive an email from your bank saying that we got the password wrong, but keep in mind we did that on purpose. If we didn’t do this, it would take up to 30 days for the e-Transfer to expire and for the money to be returned to you.
Recovering Your Money: Once we reject your e-Transfer by entering the wrong password, the funds will be returned to you. Depending on your bank, the funds could be automatically deposited back into your bank account, or you might receive an email from Interac or your bank with instructions on how to get the funds deposited back into your bank account.
Try Again: Don't worry, once you fix the name mismatch, you can send another e-Transfer! You need to identify where the name mismatch issue is coming from by comparing your MogoAccount name to the name on the outgoing e-Transfer.
Name Wrong on Bank Account Maybe you have a nickname setup on your bank account, so the name that appears on your e-Transfer is not the same as the name on your bank account? You might be able to fix the issue in your online banking, but you might have to contact your bank if you can’t make the change yourself. Note: If your bank account is a joint account, make sure you are logging into your bank account under your bank card so that the e-Transfer has your name on it rather than the name of the other account holder.
Name Wrong on MogoAccount If the name on your MogoAccount is the problem, then you will need to reach out to us to get it updated. You can chat with us or email us at email@example.com to request a name change. You will need to provide a copy of a valid photo ID from the list below. If we require further documentation, we will let you know. If everything is in order, we will update your account and notify you so you can resend the e-Transfer.
- Provincially issued photo ID (for provinces where Mogo offers products)
- Canadian Driver’s License
- BC Services Card
- Canadian Passport
- Canadian Forces ID Card
- Certificate of Canadian Citizen
- Permanent Resident Card
- Certificate of Indian Status
- Secured Certificate of Indian Status
- Provincial Health Cards (with Photo)
Mogo Visa* Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC). *Trademark of Visa International Service Association and used under licence by Peoples Trust Company.