The MogoCard is a one-of-a-kind card that’s good for your wallet and good for the world.

Plant a tree with every tap
Every time you use the MogoCard, you’ll plant a tree—for free. It's an effortless way to fight climate change and become climate positive.

No debt and no credit impact
Since the MogoCard is a reloadable prepaid Visa Card and not a credit card, there is no minimum income or credit check required and you’ll never rack up debt.

Better spending control
The MogoCard is designed to help you keep an eye on your spending so you can effortlessly build your savings.

Free credit score and identity fraud protection
Identity fraud protection typically costs up to $240/year with other providers, but it’s free for 90 days after you register for a MogoAccount and forever with an active MogoCard.

But that’s not all. Here are some more great features of the MogoCard:

• Unlimited free POS transactions in Canada
• Real-time notifications about your transactions, updated balance and card activity
• iOS and Android app
• Chip & PIN and payWave
• Compatible with Apple Pay, Samsung Pay and Google Pay
• Reloadable through your MogoAccount
• Accepted internationally
• 24/7 access to your online account to check your transactions and balance
• Emergency card replacement when you're travelling
• Emergency cash disbursement when you're travelling
• 24/7 servicing for lost or stolen cards

Mogo has partnered with BC based veritree. Veritree was started by the founders of the popular eco-clothing brand tentree. Veritree has built the world's best on-the-ground monitoring and management tool for nature-based solution projects.

Veritree uses advanced blockchain technology which adds additional layers of trust and transparency to nature based solution projects to ensure there is no double counting of trees. Veritree works exclusively with verified planting partners. Veritree's goal is to use technology to rapidly accelerate nature based solutions to combat climate change.

The projects Mogo is initially taking part of are Mangrove tree planting projects in Kenya and Madagascar. While we endeavour to also be part of tree planting projects in Canada we know that global warming and climate change is an global issue that is not limited to a single country.

There are many factors to consider when determining the CO2 a tree can absorb. Our partner veritree, through several studies and research papers, has determined that 1 Mangrove tree can absorb 550 lbs of CO2 over a 25 year period. It is important to note that while veritree monitors newly planted trees for the first 4-5 years of its life, there is always the risk of inclement weather and other natural factors that could impact the planted trees. These factors are included in the calculation used to determine how much CO2 a tree will absorb. veritree is focused on planting local native species which have proven to be hardy.

According to research conducted by veritree Technology Inc. 550 lbs. is an approximate amount based on Above-Ground-Carbon (AGC) and Below Ground Carbon (BGC) sequestration estimates contained in several scientific research papers regarding the carbon sequestration of Mangrove trees (the “Research”). The Research contains various ranges for the rate of carbon sequestration per hectare of land. In order to arrive at the approximate amount of 550 lbs., veritree triangulated data points from the Research regarding AGC and BGC sequestration estimates, and then converted those results into the approximate amount of lbs. per tree.

The 500 lbs of CO2 is calculated to be absorbed over a 25 year period.The 500 lbs accounts for the fact that some trees will have a shorter lifespan than others (with 25 years being a safe average lifetime for a tree).

Trees are planted within 120 days of month end. This means if you use your MogoCard for 15 purchases in the month, 15 new trees will be planted within 120 days of the end of that month.

You have 2 simple options for adding money to your MogoCard:

1. 1. Visa Direct Transfer - free and instant Our transfer mechanism supports Scotiabank, TD Bank, CIBC and Royal Bank VIsa Debit cards. Your information travels encrypted and will be processed based on the standards dictated by the payment card industry. Your money is transferred instantly and no hold will be applied to your bank account, therefore the transfer cannot be cancelled.


2. 2. Interac e-Transfer - free Once you’ve completed your transfer, allow at least 30 minutes⁶ for the money to be added to your available card balance, at which point you can start using your MogoCard right away!

There are limits on the amount of money you can spend or withdraw from your MogoCard at one time.

Here’s a breakdown:

• Maximum amount per transaction: $3,000 limit
• Maximum amount charged to a MogoCard in 24 hours: $5,000 limit
• Maximum cash withdrawal amount per transaction: $500 limit
• Maximum cash withdrawal amount per 24 hours: $500 limit

One of the main differences between prepaid cards and credit cards is that when you spend on a prepaid card you are not borrowing money like you would be with a credit card. When you use a prepaid card, you are spending money that you loaded onto the card, typically from your bank account. Since you’re not borrowing money, you don’t pay interest on prepaid cards like you do with credit cards.

There are some similarities between prepaid cards and debit cards, but there are also some key differences. Debit cards are typically linked to a bank account, like a chequing account or a savings account. So, when you spend using a debit card, the debit card will take that money from the bank account the debit card is connected to. Prepaid cards will only allow you to spend the money that you have loaded onto the card.

Yes! Prepaid cards are great for helping people budget more effectively. Since you have to decide how much money you want to load or transfer onto a prepaid card, it’s a great way to be more mindful with your spending and create an automated spending budget.

Prepaid cards can help you control your spending by only allowing you to spend the amount that you loaded onto the card. They’re also easy to use and they are a viable alternative to credit cards if you don’t want to borrow money or if you’re concerned you won’t be able to pay off a credit card balance in full. Prepaid cards are also often free to apply for and can have less approval criteria than some credit cards, making them more accessible to Canadians.

When you use a prepaid card it doesn’t get reported to the credit bureaus (the big ones in Canada are TransUnion and Equifax). So, using a prepaid card won’t impact your credit score positively or negatively.

One downside of debit cards is that they can allow you to spend more than the amount of money that you have in your bank account. That means that your bank account could go into overdraft, and your bank might charge you hefty overdraft fees. The difference with a prepaid card is that it helps you control your spending by only allowing you to spend the amount of money that you loaded onto the card.