Why should I get KOHO?

Asked by: Larry Wolf  |  Last update: February 9, 2022
Score: 4.2/5 (42 votes)

There's no doubt that KOHO is legit. Although the best travel credit cards in Canada offer a ton of benefits, KOHO is a great no fee, card/app that encourages Canadians to spend and save in one spot. You'll never spend more money than you have and you'll earn some cash-back rewards in the process.

Why should I use KOHO?

KOHO is a no-fee spending and savings account here to simplify your personal finances. It's a bit like a spending account, with the perks of a credit card. ... And we're like a credit card in that we offer cash back and other perks, plus you can use your KOHO reloadable prepaid credit card anywhere Visa is accepted.

What's the catch with KOHO?

At this point, you're probably asking yourself, “What's the catch?” since this all sounds way too good to be true. But, the fact of the matter is that there are no hidden charges when you use KOHO. That's right - none.

Is KOHO card good?

KOHO Premium is the best prepaid Visa card in Canada, and you can use it to earn rewards on all your spending and all your savings. You can read more about this and another KOHO card here.

Is my money safe with KOHO?

Is KOHO Safe? Yes, KOHO is just as safe as any other big bank in Canada. They've partnered with People's Bank; a federally regulated CDIC-insured financial institution, to store their user's money. Moreover, they have additional security measures like their in-app card locking feature.

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Can I trust KOHO with my money?

Since KOHO is partnered with Peoples Trust, a federally regulated and CDIC-insured bank, your money is safe if anything were to happen to KOHO. In a worst-case scenario (which is highly unlikely to happen), you'd be able to get your money back via Peoples Trust.

Is KOHO safe Canada?

Canadian financial institutions are extremely safe, and KOHO is no exception. KOHO stores your money in Peoples Trust, a federally regulated banking institution. That means if—and that's a big if—KOHO goes under, you'd still receive all your money through Peoples Trust.

Which is better stack or KOHO?

Overall Winner: KOHO

While they charge 1.5% on foreign transactions, they provide cash back on every purchase, send e-Transfers, and offer a joint account. If you're a frequent traveler, Stack's 0% on foreign transactions and higher discounts might appeal to you more.

Is KOHO a real bank?

KOHO Financial Inc.

(styled as KOHO) is a Canadian fintech company based in Toronto. While not a bank itself, the company provides banking services in partnership with Peoples Trust through a mobile app and prepaid Visa card.

Can you accept e transfer with KOHO?

Learn how friends and family members can send funds to your KOHO account! This means that you can now accept Interac e-Transfers from friends, family, and business accounts to KOHO!* The sender will just need to send the e-Transfer to your unique email address found in-app (ex.

Is KOHO a good company to work for?

Great place to work

Demanding but overall a good experience; Start-up atmosphere where you're expected to turn on a dime and juggle a myriad of responsibilities. The best part of the job is the people you work with and come across.

Can you use KOHO at Costco?

Note: KOHO is also a VISA card, and there are a few retailers like Costco and No Frills that often don't accept VISA. If you want to use a prepaid card at those places, and it's a big concern, check out STACK instead—it's a Mastercard.

Can I use KOHO in the States?

Yes! For sure! You can use your KOHO Visa card wherever Visa is accepted.

What is the KOHO metal card?

KOHO is a prepaid card that works like a hybrid between a free chequing account and a credit card. Using your KOHO Visa card, you can pay for purchases online and in-store wherever Visa credit cards are accepted worldwide.

What time do direct deposits go in KOHO?

This should be done by 12 PM EST. As you continue getting direct deposits from the same source to your KOHO account, they'll be loaded earlier in the day. If you haven't received a direct deposit by 12 PM EST on your expected payday, reach out to us in-app to assist!

Can I use KOHO to book a flight?

You can totally use your KOHO card to book flights. Be sure to select 'credit' as the form of payment or ask the merchant to register your KOHO card as a credit card when you're ready to make your purchase.

Is Capital One pulling out of Canada?

As previously reported, Capital One is ending its relationship with Costco Canada and pulling out as the exclusive Mastercard partner of the retail giant. In a deal announced Thursday, CIBC will take over the existing Canadian Costco credit card file, with more than $3 billion in outstanding balances.

How long does it take to get a KOHO card?

Your KOHO card will come within 10 days. We happen to have the sweetest gosh darn User Support Team in all of finance, so feel free to reach out via our in-app chat. ? Thousands of Canadians have joined KOHO ? Be the next!

Why do I want to work here answer?

“I see this opportunity as a way to contribute to an exciting/forward-thinking/fast-moving company/industry, and I feel I can do so by/with my … ” “I feel my skills are particularly well-suited to this position because … ”

How long do Etransfers take KOHO?

This can take up to 45 minutes. Once we receive it, it will be processed in the order in which we receive it. For users that don't have third-party e-Transfers enabled, the sender name on the e-Transfer must match the name of the KOHO account holder.

How long does an e-transfer take KOHO?

This process is manual and can take anywhere from 5 min to a few hours. If you are experiencing issues, here are some tips: You can try to cancel and resubmit the e-transfer.

Does KOHO have auto deposit?

Here's the step-by-step: 1️⃣ In the KOHO app you'll see all the information you need to send an e-Transfer by tapping the $ symbol > Add funds to your account > Load via e-Transfers. Most of our users have now migrated to our auto-deposit method, so you'll only need to make a note of your unique e-Transfer email!

Does KOHO have tap?

If your purchase happens to go through without you needing to input your PIN, don't sweat, this can happen sometimes. You're still good to go, and you can use the tap function from here on out.

How many members does KOHO have?

Koho, which has a mobile application that provides a no-fee savings account, has grown its user base to more than 500,000 since the pandemic hit in March, 2020.