Getting Started
Before you can withdraw funds, you must first link and verify your bank account. If you have not yet completed this step, please [click here for instructions].
Withdrawals are only permitted to verified bank accounts that are under your name, either as the primary or joint account holder. These verification measures are in place to help prevent fraud and money laundering.
Important: Mogo uses Plaid solely to verify your account ownership — not to transfer funds. Once verified, all withdrawals are processed via EFT (Electronic Funds Transfer) and sent directly to your linked bank account.
Funds Available for Withdrawal
You can withdraw funds at any time, but please note:
Funds tied to pending orders, unsettled trades, or pending withdrawals are not available for withdrawal.
When you sell a stock, you are able to immediately reinvest the cash proceeds into another stock. However, please note that while your cash proceeds may be credited to your account, you won’t be able to withdraw the funds to your bank account until the transaction has settled.
Understanding the Settlement Period
After selling a stock, the cash proceeds appear in your account, but the trade must go through a settlement period before the funds are eligible for withdrawal.
The settlement period typically takes up to 1 business day after the execution date. Once the trade has fully settled, your Available to withdraw balance will be updated to reflect the newly available cash.
How to View Your "Available to Withdraw" Balance
Log in to your Mogo app.
Tap on the Account tab (bottom right corner).
Tap Transfers.
Tap Available to withdraw at the bottom of the screen to view individual account balances.
Select the account you wish to withdraw funds from to confirm the Available to withdraw balance.
How to Withdraw Funds
Tap Withdraw funds.
Enter the withdrawal amount and tap DONE.
Confirm the displayed linked bank account is correct.
Tap Continue to proceed to the confirmation screen.
If everything looks good, tap CONFIRM.
Processing Time: Once your withdrawal request is submitted, please allow 2–3 business days for the funds to arrive via EFT.
Plaid Verification Reminder
At any time during this process, if you are redirected to Plaid and asked to enter your online banking credentials, it means your bank account has not yet been verified.
To verify:
Follow the prompts and select your bank from the list.
Enter your online banking username (or client card number) and password.
Be sure to use your own banking credentials (not your partner’s), as the name on the bank account must match the name on your Mogo account.
Once your bank account is verified, you’ll be able to withdraw your available funds following the steps outlined above.