Why did Mylo change their name to Moka?

In a recent interview, Moka Founder and CEO Philip Barrar told BetaKit that the company has opted for the name change as part of its globalization plans. Barrar explained that Mylo has different meanings and pronunciations depending on the speaker’s language, while Moka has a more consistent pronunciation.

How do I get my money back from Mylo? Withdrawing Funds

You may withdraw all or part of your Balance from your Investment Account to your Funding Source at any time by sending a Withdrawal Request to the Portfolio Manager via the Mylo App. The Portfolio Manager will not charge you fees or penalties to withdraw your funds.

Also, How many users does Moka have? Moka currently has more than 500,000 active members and over 100,000 monthly subscription members, and the company generated approximately $6.5 million of revenue in 2020.

What is Moka AI?

Moka (previously Mylo) is on a mission to help people achieve their financial goals with Canada’s #1 saving and investing app. … The app has been downloaded by 750,000 Canadians, and it rebranded from Mylo to Moka for expansion to France in 2020.

16 Related Questions and Answers

How do I remove my bank account from Moka?

Customer Success

1. Login to Moka backoffice.
2. Visit menu ACCOUNT SETTINGS.
3. Select Bank Account.
4. Choose which bank account you want to edit.
5. Edit the information on the Bank Name, Account Number and Account Holder fields.
6. Click Save.

How long does it take to withdraw from Mylo?

Making withdrawals from your Mylo account is easy. You can do it whenever you want to without worrying about any fees or penalties. One thing I would like to point out is that it takes two to eight business days to withdraw your funds.

How do you stop Moka from taking money?

You can disable your roundups and recurring deposit at any time via the application.


By doing so, you will also pause your transfers.


To do so:

1. Log in to your Moka application;
2. Under Overview, click on any of your goals;
3. At the top right corner, click on the “…” button;
4. Select Funding rules;

How do I stop Moka?

We don’t want you to go! But, if you wish to close your Moka account completely, open the in-app chat and send us a message asking us to close your account. You can also send an email at support@moka.ai from the email address you used to create your account.

Where does Moka invest?

Moka invests your money in Exchange-traded funds (ETFs), which are low fee funds that consist of hundreds — or even thousands — of different stocks or bonds. This means your portfolio will be well diversified, which helps reduce risk.

Where is Moka from?

How much can you make with Moka?

The Moka app rounds up every purchase you make to the nearest dollar and invests the spare change into low-cost exchange-traded funds (ETFs). Receive a cash bonus of $50.00-$500.00 when you open a new Justwealth account.

Can you make money with Moka?

If you’re looking for an easy way to save money and have it invested for you automatically, Moka is a good choice. It’s easy to use, it’s safe, … Still, Moka can get you saving and investing money TODAY. That’s what makes it powerful.

How do I withdraw from Moka?

How can I withdraw my money?

1. Log in to your Moka application;
2. Under the Overview section, click on the goal from which you’d like to withdraw funds;
3. A new window will open, click on the button in the top-right corner “…”;
4. Select Withdraw;
5. Enter the amount you wish to withdraw from your account.

How long does it take to withdraw money from Moka?

How do I withdraw money from Moka? According to Moka, if you have a TFSA, RRSP or non-registered investment account, next-day withdrawals are included at no extra cost. Moka uses EFTs (electronic funds transfers) to process your withdrawal requests within one business day.

How do I close my Mylo account?

1. How to delete Mylo account? You will have to email customer service at supoort@mylo.ai to close your account permanently.

How do I transfer money from my Moka account?

Hi Steven, to withdraw funds go to the Overview section of the app and click “My Goal”. Then, select the button “Withdraw Funds“.

How can I transfer money from Moka to bank account?

How can I withdraw my money?

1. Log in to your Moka application;
2. Under the Overview section, click on the goal from which you’d like to withdraw funds;
3. A new window will open, click on the button in the top-right corner “…”;
4. Select Withdraw;
5. Enter the amount you wish to withdraw from your account.

Can you cancel Mylo?

1. How to delete Mylo account? You will have to email customer service at supoort@mylo.ai to close your account permanently.

How can I transfer money from Moka to bank?

Hi Steven, to withdraw funds go to the Overview section of the app and click “My Goal”. Then, select the button “Withdraw Funds“.

How long does it take to withdraw from Moka?

How do I withdraw money from Moka? According to Moka, if you have a TFSA, RRSP or non-registered investment account, next-day withdrawals are included at no extra cost. Moka uses EFTs (electronic funds transfers) to process your withdrawal requests within one business day.

Why does Moka leak?

The biggest reason for a moka pot leaking is that the upper collector isn’t screwed onto the boiler tightly enough or something is stuck in the thread. Another common problem is that the rubber gasket that sits between the filter basket and filter lid is damaged or sits in the wrong location.

How do I unlink my bank account from Moka?

Customer Success

1. Login to Moka backoffice.
2. Visit menu ACCOUNT SETTINGS.
3. Select Bank Account.
4. Choose which bank account you want to edit.
5. Edit the information on the Bank Name, Account Number and Account Holder fields.
6. Click Save.

Is Moka insured?

Is My Money Safe? … While Moka does invest in a diversified portfolio, there is no guarantee that you will not lose money on your investments. The ETFs that Moka invests in are insured by the Canadian Investor Protection Fund.

Does Moka charge fees?

A Moka account costs $3 per month flat fee. The fees are 0.5% on $0-$100k and 0.4% for amounts over $100k. Wealthsimple Invest is an automated way to grow your money like the world’s most sophisticated investors.