Nearly half of transgender or nonbinary people in Canada feel anxiety, embarrassment, and frustration when their ID doesn’t reflect their true identity, according to a survey by Mastercard. Many of them haven’t changed their gender marker on their formal ID due to the expensive and time-consuming process. To address this issue, Mastercard introduced its True Name feature, which allows cardholders with participating banks to use their chosen name on their cards without a legal name change. BMO became the first financial institution in Canada to offer this feature, providing customers with the option to use their chosen name on their debit and credit cards, as well as their monthly statements. This small change can have a significant impact on achieving financial goals and improving mental health for transgender and nonbinary individuals.
https://www.mastercard.com/news/perspectives/2022/true-name-feature-for-transgender-community/