Will anything change with my Moka account and services?
Nothing about your Moka account, services, or monthly fees is expected to change and we will always communicate with you in advance of any updates to our services.
Is Moka shutting down?
No, Moka is not shutting down.
Moka is partnering with Mogo so that together we can offer a more powerful and comprehensive platform to help you better achieve your financial goals.
What happens to my money in my Moka account?
Your Moka account continues as is and your money remains invested the same way it was.
You still have full access to your funds and withdrawals remain free of any cost. No changes.
What will happen to my Moka app?
You can continue to use your Moka app as you normally would.
Does my Moka account become a Mogo account?
Please continue to use the Moka app as usual!
Our partnership will take shape over the next months, and we’ll be working together to build even better features to help you achieve your financial goals.
If we decide to make any improvements to your Moka account, we will communicate these changes to you in advance.
Do I need to close my Moka account?
You do not need to close your Moka account.
Your Moka account continues to work for you to help you achieve your financial goals.
What if I want to close my Moka account?
We would hate to see you leave, but, as always, you can close your Moka account at any time by reaching out via email or via chat in the Moka app.
What happens to my funds once I close my Moka account?
When you close your Moka account, any remaining balance in your account will be processed and disbursed. Here’s how the process works:
General Fund Transfer Process
Once your Moka account is closed, the remaining balance is automatically processed for withdrawal. The funds will be transferred to your linked funding account. This transfer typically takes 5–7 business days to complete after the account closure date.
TFSA-Specific Considerations
If the funds in your account are part of your Tax-Free Savings Account (TFSA), they will still be automatically withdrawn upon account closure. In this case:
The remaining TFSA balance is disbursed to your linked account.
The transfer follows the same standard processing window as described above, ensuring the funds are available to you once the process is completed.
Key Points to Remember
The disbursement process initiates as soon as your account is closed.
Be sure to monitor your linked account for the transferred funds within the 1–3 business day timeframe. For any further questions, contact Moka’s customer support team.