1. (a) What do I need to qualify for Zip Money Loans?

• A minimum annual income of $15,000.

• Be paid through direct deposit.

• Active employment by the same employer for a minimum of 3 months. Mogo loans are not available to customers whose only primary income is derived from pensions, employment insurance, maternity/paternity leave, disability, worker’s compensation or any other government supplements.

• A current bank statement showing 30 days of transactions that clearly identifies your name, account number and your last 2 pay roll deposits.

• A minimum of 2 references.

• Your Social Insurance Number (SIN).

1. (b) What do I need to qualify for Pocket Money Loans?

• A minimum bi-weekly net pay of $500

• Your most recent pay stub

• Active employment by the same employer for 3 months

• A bank statement showing recent transactions

• A minimum of 2 references

• A personal cheque or EFT (Electronic Funds Transfer) form stamped by the bank

• Your SIN number

2. How long does it take to get my money?

If you want to Mogo online your first loan with us can be directly deposited into your bank account (EFT). After that, you can get a loan directly loaded onto your Mogo debit card or you can continue to receive direct deposits into your bank account.

If you want to Mogo at one of our stores the approval is instant and if you are a new customer who has met the Mogo criteria, you will receive your money in as little as 20 minutes on your Mogo debit card. If you are already a Mogo customer you can re-borrow in about 5 minutes. Now that’s Mogo fast.

3. What hours is Mogo open to...Mogo?

Mogo care centre hours are from 7 am to 10 pm Monday to Friday. Saturday from 9 am to 5 pm and Sunday from 11 am to 5 pm. All times in Central Standard Time.

Mogo stores are open from 8 am to 8 pm Monday to Friday. Saturday from 8 am to 6 pm and Sunday from 11 am to 5 pm. All times local.

4. Do I have to Mogo online?

You can Mogo online or in-store – whichever way you’re most comfortable with.

5. Do I have to get a Mogo debit card?

You don’t have to do anything you don’t want to do. You can choose to Mogo via direct deposit, or have a Mogo debit card mailed out to you if you are borrowing online. If you are borrowing at one of our stores you can Mogo via a Mogo debit card or receive a cheque. (Keep in mind, though, that the Mogo debit card it is the fastest and easiest way to re-cash with Mogo and have access to your funds immediately.) All Ontario loans are issued on a Mogo debit card.

6. Can I Mogo on disability, pension, maternity leave or EI?

Currently Mogo only offers service based on employment. That said, Mogo is always looking into new ways to qualify our customers.

7. (a) Does Mogo do a credit inquiry when you borrow Pocket Money?

There is no credit check necessary to borrow Pocket Money. It is a short-term advance designed to help you build healthy financial habits, and avoid never ending and all increasing credit card debt.

7.(b) Does Mogo do a credit inquiry when you borrow Zip Money

Mogo does a credit inquiry when you first apply for Zip Money to verify your application information and make sure you qualify for a loan – our criteria is fair and we loan to 9 out of 10 people that apply.

8. What is Mogo’s approval rating?

Unlike the banks, 9 of 10 people get Pocket Money and Zip Money.

9. (a) How much money can I borrow with Pocket Money?

You can access up to 40% of your net pay the first time you visit (practically on a hand shake!), then on your second trip to Mogo it gets even better... you become immediately eligible to borrow up to 60%* of your net pay every time you visit!

*In BC you can borrow up to 50% of your net pay.

9. (b) How much money can I borrow with Zip Money?

Loans range from $300 all the way up to $1500.

10. How do you determine my rate for Zip Money?

Easy... all of our customers get the best rate out there. In most cases, simply take what a payday loan company would charge you for a two week loan… and that’s all you pay to borrow the same amount for 30 days with Mogo.

11. Why are flexible payment terms like a line of credit not available for Zip Money in British Columbia, Alberta and Ontario?

Mogo is proud to be a licensed lender. We follow regulations that guide us to ensure you repay your loan in full every 30 days in British Columbia, Alberta and Ontario.

12. How do I re-loan online in British Columbia, Alberta and Ontario with Zip Money?

Reloaning is easy, simple and fully automated. All you need is a bank statement (online or paper) and access to email, and you can have a new loan before the end of the day. Click here to reloan now.

13. What are the system requirements to use the Mogo fully automated process?

The system requirements to use the fully automated process is Windows XP or later and Internet Explorer 7 or later. If you don’t have online banking access or can’t use the tool you can fax or e-mail us the required bank statement.