Managing money is no longer just about keeping a checking account at the bank. With innovative fintech apps, Canadians now have better tools at their fingertips to save, earn, and build credit without hidden fees. One such platform leading the way is KOHO — a prepaid Visa card and app designed to help you take control of your financial life.
In this article, we’ll break down what KOHO is, how to use it, its unique features, and why it might be the perfect addition to your financial toolkit.
What is KOHO?
KOHO is a fintech app paired with a prepaid Visa card that works like a debit card but comes with the perks of a rewards credit card. It’s available to Canadians and offers cash back, savings features, and credit-building tools.
Unlike traditional banks, KOHO doesn’t charge monthly fees (unless you choose a premium plan), making it a cost-effective way to manage your money while earning rewards.
How to Use KOHO
Getting started with KOHO is simple:
- Sign up online or through the KOHO app.
- Load funds onto your KOHO card from your bank account (it functions like a prepaid card).
- Spend anywhere Visa is accepted, online or in-store.
- Track spending and savings goals through the app.
Since KOHO is a prepaid card, you can’t go into debt, which makes it a safe choice for anyone who wants the perks of a rewards system without worrying about interest rates.
Unique Features of KOHO
1. Cash Back on Everyday Purchases
Earn instant cash back on groceries, dining, and select categories. With certain plans, you can unlock higher cashback rates.
2. High-Interest on Your Balance
Unlike regular bank accounts, KOHO offers interest on your entire balance, helping your money grow while it sits in your account.
3. Credit Building Tool
For a small monthly fee, KOHO can report your payments to credit bureaus, helping you build or repair your credit history without taking on traditional credit card debt.
4. Financial Insights & Budgeting Tools
The KOHO app provides detailed spending insights, savings goals, and automatic round-up features, making it easier to save without even thinking about it.
5. No Hidden Fees
KOHO is transparent. There are no surprise charges for everyday use, which is a refreshing alternative to traditional banks.
6. Global Travel & Connectivity
KOHO’s top-tier plans (especially Everything) include no foreign transaction fees, your first international ATM withdrawal free, an eSIM with free data (1–3 GB/mo), and optional travel insurance to safeguard your trips.
7. Borrowing Tools: Line of Credit, Cash Advance, Pay Later
Buy Now Pay Later (Pay Later): Convert eligible purchases ($100–$1,000) into manageable installments over 3, 6, or 9 months. Transparent fees, no credit checks for approval, but missed payments may impact your credit score
Line of Credit: Borrow between $1,000 and $15,000 via KOHO’s partnership with Fora. Get fast approval, same-day access, interest only on what you use, and no extra fees. Available in select provinces (including Nova Scotia) KohoBetaKit.
KOHO Cover: A $2/month bundle that gives you access to interest-free cash advances up to $250, financial coaching (worth up to $425), free credit reports, and priority support—with no credit check required Koho.
Bonus: Get Started with a Referral Reward
💡 Just found an awesome finance app that earns you cash back on groceries, high interest on your entire balance, and has tools to build credit history. Get it all + a gift when you join KOHO today!
👉 Use my referral code ZXBKVO4H or sign up through this link and we both get rewarded. Easy money! 💰
Final Thoughts
KOHO is more than just a prepaid Visa card — it’s a modern financial solution for Canadians who want to save smarter, earn rewards, and take control of their money without the stress of credit card debt. Whether you’re looking to build your credit, earn on everyday purchases, or simply find a no-fee banking alternative, KOHO is worth checking out.
If you want a card that works as hard as you do, KOHO might be the right fit. Don’t forget to use the referral code above to maximize your rewards when signing up.
