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LIMITED OFFER! SIGN UP WITH CODE KOHONBA75 AND GET $75 TO NBASTORE.CACOPY CODE


Cash Back


A BETTER WAY TOMANAGE YOUR MONEY

KOHO is your everyday Mastercard account that helps you make progress. Spend,
build, save and earn your way to financial health.

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Partnership


TRUST THE PROGRESS

Level up your finances with KOHO — official partner of the NBA.

Sign up with code KOHONBA75 and get $75 to NBAstore.ca, plus a chance to win
tickets to the NBA games.



Spend



MONEY BACK ON YOUR SPENDING

Get up to 5% instant cash back on your spending, and earn even more with our
cash back partners.


Save



MORE SAVINGS, LESS EFFORT

With the best interest rate in Canada of up to 5%, and clever in-app savings
tools, you can save smarter, not harder.


Build



TLC FOR YOUR CREDIT HISTORY

Whether it’s for a car loan, a mortgage, or just for the future, you could
increase your score by up to 22 points after just 3 months using Credit
Building.*


Trust



SAFE, SOUND, AND SECURE

KOHO’s top tier security means your money is always protected. And you can
easily lock your card in-app if you ever lose it.



$1M

Cash back earned

4.8

App store rating

+1M

Users

#1

Rated Canadian financial app




How to sign up



Download the KOHO app and sign up for an account, or hit the link below to get
started.

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How to sign up



Pick from Essential, Extra, or Everything for a 30 day free trial.

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Start earning more interest, better cash back, and managing your money like a
pro.

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How to sign up



Yep, it’s that simple.

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Join over one million users taking control of their finances with KOHO

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FAQs

WHAT EXACTLY IS KOHO?

KOHO is a no-fee spending and savings account where you can get instant cash
back and earn interest on your entire account. You get a prepaid reloadable
Mastercard that gives you all the spending power of a credit card without any
fees or interest.

With a KOHO card you can only draw from funds that are already yours, unlike a
credit card. This key difference makes you spend more mindfully and effectively
save more. It’s connected to a smart budgeting app that simplifies day-to-day
finances with spending insights and balance updates after each purchase. As a
result, the average KOHO user saves 7% of whatever money they load into their
account.

HOW DOES KOHO WORK AND WHAT CAN I USE IT FOR?

It’s pretty simple. You add funds to your KOHO account in one of three ways:
e-Transfer from your regular bank account, loading through an existing
Mastercard or Visa debit, or by direct deposit. This is when you have your
work’s payroll directly deposit your paycheque, or you can sign up for Canada
Revenue Agency (CRA) direct deposit to receive government payments directly to
your KOHO account. Plus, you can now set up Interac® Autodeposit with your
personal email address too, so adding funds has never been easier!

Once you've added funds, you can use your KOHO card, either in person or online,
to make purchases just like you would with any debit or credit. KOHO runs on the
Mastercard network, so merchants can treat your KOHO card just like a normal
credit card transaction.

You can use KOHO for everyday spending as well as stashing away your savings,
all from one account. You can earn cash back on your spending, earn interest on
your entire balance, and use in-app features that’ll help you manage your money
like a pro.

OKAY, SO WHERE DOES KOHO PUT MY MONEY?

We’ve partnered with federally regulated banks to hold any money you load onto
your KOHO card. This means that if anything were to happen to us (and that’s a
big if!), your money would be safe and you’d be able to access it. If you place
your money in our interest-bearing accounts, not only will you get a high
interest rate, but your funds will also be eligible for CDIC insurance.

WHAT MAKES KOHO DIFFERENT FROM A REGULAR DEBIT ACCOUNT?

The big difference is that we’re digital-first. We prioritize financially
empowering our users over things like branded ATMs (though KOHO works at any ol’
ATM, and we won’t charge you for using one). Consequently, we can keep our costs
low and aim to pass these savings to our users.

Plus, depending on which plan you choose, you can earn up to 2% cash back on
things like your weekly shop, your Uber ride, or your sushi take-out. And up to
5% cash back when you shop with our partners.

Also, our app is pretty awesome.

WHAT MAKES THE KOHO APP AWESOME?

We’ve put in the research time to make it dead simple to use, and there are lots
of built-in ways to make the most of your money.

We tweak and improve our app in order to release updates every two weeks. Which,
to be frank, is not a thing banks can say. Banks usually release a new version
of their apps once a year.

WHAT ARE KOHO PLANS?

KOHO has three plans you can choose from: Essential, Extra, or Everything. Each
plan offers something different, so depending on how you want to use KOHO you
can choose a plan that will work for you. And you can always switch plans at the
end of your current billing cycle.

SO, WHAT IS A VIRTUAL CARD?

A virtual card is basically a digital card that lives in the app. You can use it
to make online purchases or add it to Apple, Samsung, or Google pay to use in
stores. The virtual card uses a different number to your physical one, so it
helps protect your physical card number when you’re shopping online.

All plans come with a virtual card that you can use to start spending right
away. Just tap "my cards" in the app to find yours.

CAN I GET A PHYSICAL CARD?

You sure can, once you’ve opened your account and downloaded the app, tap the
card image on the home screen, scroll down and select "Get a Card" then follow
the prompts to get set up. Your card should land on your doorstep within 10 days
once your account is verified.

DOES USING OR APPLYING FOR A KOHO CARD IMPACT MY CREDIT SCORE?

When you set up your KOHO account we run what’s called a soft credit check,
which doesn’t affect your credit score (phew!). We have to do this part to
adhere to strict Canadian financial regulations and in order to make sure your
account is secure and protected against fraud.

IS KOHO CONSIDERED A CREDIT CARD?

Your physical and virtual KOHO cards are prepaid cards. However, if you're asked
whether you're paying with "debit or credit" at the checkout line, advise the
cashier you're paying with credit. The same will apply when using an ATM to
withdraw cash.

HOW LONG DOES IT TAKE FOR MONEY TO ARRIVE IN MY KOHO ACCOUNT?

You can now set up Autodeposit for your KOHO account using your own email. That
means you don't have to manually accept an Interac e-Transfer and your funds
will be in your account once the transfer has been sent by the sender — whether
that’s you or someone else. There’s no need to answer a security question, so
your funds are less at risk of being intercepted by fraudsters.

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The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to
license by Mastercard International Incorporated. Mastercard and the circles
design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links
for more information on our Privacy Policy and Accessibility Policy. © 2024 KOHO
Financial Inc.

* Credit scores are based on complex models involving a variety of factors.
Consistent on-time payments help improve credit scores. Missed or late payments
may cause credit scores to decrease. Outcomes may vary among users.