KOHO Referral Code and Review 2022 ($20 Bonus)

Last Updated on May 19, 2022 by Canadian Reviews

KOHO is a free, prepaid Visa card with a feature rich mobile application that provides real-time insights and tools to help you save and grow your money.

It is similar to a credit card and a chequing account combined. A credit card you are borrowing money and getting rewards. With a chequing account you are spending your own money, but not being rewarded. KOHO takes these two products and smashes them together. Use your own money… and get rewards!

Read our review below to learn more about KOHO and you can also receive a $20 bonus when you sign up. If you are just looking for a KOHO referral code, here is ours: KOHOBONUS

About KOHO

The fintech company KOHO was founded in 2014 and officially launched in 2017. They partnered with Peoples Trust to provide their banking services and VISA for their card offering.

They are also backed by established investors like the Power Group, Drive Capital and Portag3.

They advertise no hidden fees or fine print. KOHO is rooted in the belief that better financial solutions for all Canadians exist. And are working to make that happen.

KOHO Features

No Fees: KOHO does not change any fees for their basic accounts. Including the KOHO Visa, and Joint Accounts.

  • $0.00 – Monthly account fees
  • $0.00 – NSF fees
  • $0.00 – e-Transfer fees
  • $0.00 – Interest charges

The only fees are for their premium account subscription, or credit building services.

0.5% cash back – Get 0.5% cash back on all your purchases. Although not as high as a credit card, this is straight forward and simple. No points, limits, or category juggling. Just real cash back in your pocket.

And much better then using your debit card that offers no cash back at all.

Premium users can get up to 2% on select categories. You can also use in-app or partner offers to get additional cash back boosts up to 5%.

Automatic Saving – This feature lets you roundup all your purchases to the nearest $1 and automatically puts this money into savings for you. This helps you save your money without really thinking about it or missing that small amount. But it really adds up over time.

Have a big purchase you are saving up for? KOHO lets you create savings goals and helps you save for that big trip or purchase.

Budgeting – KOHO provides tools to help you budget and stay on track with your financial goals. Preload your spending money to make budgeting easy, get balance updates after each purchase, and use spending insights to stay on track.

You can even get access to free financial coaching

Early Payroll: If you have direct deposit set up. You can get access to your funds up to $100 three days before your payday. This free feature is available to help their customers out if you need your money just a bit sooner.

Payday loan companies are significantly more expensive. KOHO wants to help you keep your money in your pocket. They do not change any fees or interest for this service.

KOHO Verdict

  • No Fees
  • Earn 0.5% on all your transactions
  • Earn bonus powerup cash back at partners
  • Earn 1.2% interest on your balance
  • Apple Pay, Google Pay Compatible
  • Real-time spending insights
  • Automatic RoundUp and Savings


    KOHO is a free, prepaid Visa card with a feature rich mobile application that provides real-time insights and tools to help you save and grow your money. Get a $20 sign up bonus when you use a KOHO referral code.

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