Mogo is a Vancouver-based financial technology company that aims to help consumers manage and control their finances with simple solutions.
Users can sign up for a free MogoAccount in just a few minutes and gain access to six products, including free credit score monitoring, identity fraud protection, a digital spending account with a platinum prepaid Visa card, a digital mortgage, the MogoCrypto account, MogoWealth’s first product that allows for the buying and selling of Bitcoin, and access to smart consumer credit products through MogoMoney.
Mogo receives credit scores directly from Equifax, which are updated every month. Users receive a notification from the app when it is updated, so they can keep track of their score without even thinking about it.
The company has more than 1,000,000 members and a marketing partnership with Canada’s largest news media company (Postmedia Network Canada Corp).
Mogo is currently accepting mobile bank account openings for residents of Canada.
Their pricing model is classified to the 2 contracts, the Cheapest called “Moka” costs $3.99 per month and the Highest called “Moka360” costs $15.00 per month.
The fintech company was founded in Vancouver in 2003 by David Marshall Feller (Linkedin) and went public on the Toronto Stock Exchange in June 2015.
Due to the negative customer reviews and the recurring accusations of unreasonable high-interest rates, we put Mogo on our “Orange Compliance” list.