Mogo has partnered with a company called DecisionLogic to verify your bank account information when you apply for a MogoMoney loan. Verifying your bank account with DecisionLogic is super important to both us and you, our valued MogoMember, to ensure we have the most accurate information and are obtaining it in a securely encrypted and convenient way. Plus, we want to make sure we’re sending your $$ to the right bank account!
Basically, here’s how it works:
- We’ll send you a unique link to verify your bank with DecisionLogic.
- When you click the link, you’ll be taken to the DecisionLogic website and asked to read and then agree to DecisionLogic’s terms and conditions.
- Once you’ve read and agreed to DecisionLogic’s terms, you’ll then be asked to log in to your online banking. When you log in, your bank information will be verified instantly. Don’t worry, Mogo can’t see your online banking login information. Note: If you bank with TD or CIBC, you may be asked to complete a two-factor authentication, meaning a code will be sent to your phone that you’ll need to enter into DecisionLogic. So make sure to have your cell phone handy!
- Mogo will receive a read-only copy of your bank statement from DecisionLogic that will show us your last 90 days of transaction history.