Prepaid Cards

KOHO offers a spending account with a reloadable prepaid card. A KOHO account is like a chequing account, with the perks of a credit card. Just like a chequing account, you can put money into your KOHO account and then spend that money however you see fit. And like a credit card, you will get cash back and other perks, plus you can use your card anywhere Mastercard is accepted.

How does it work? It is pretty simple: you add funds to your KOHO account either through e-Transferring from your regular bank account or by having your work’s payroll deposit your paycheque directly (Direct Deposit). Then, you use your KOHO card, either in person or online, to make purchases, just like you would with debit or credit. The card is a prepaid Mastercard and for merchants your card acts just like a normal credit card transaction.

  • KOHO is a full-service app and reloadable prepaid credit card with no hidden fees.
  • KOHO is a free chequing account that acts like a debit card but gives you all the spending power of a credit card without the interest or fees.
  • KOHO is the only account with truly no monthly fees, no interest charges, no e-Transfer fees, and no NSF fees.
  • Get 0.5% cashback on all purchases. Plus, you can earn up to an extra 5% cashback at select merchants.
  • Boost your savings! With your free KOHO account, you can earn 1.2% interest** on both your spending and savings account.
  • Get all the beloved KOHO account features and receive more bang for your buck with Premium! Start getting 2% cashback on groceries, eating & drinking and transportation and 0.5% for all other purchases. No fees on foreign transactions+.
  • Up to $100k of your funds are eligible for CDIC protection. In other words, your money is safe with us.
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