KOHO

KOHO is a smart spending and savings account that’s changing the way Canadians bank.

You get a free spending account that earns instant cash back on every purchase, and an app that helps you save money. Since KOHO works like a debit account, you’ll avoid the pesky interest that comes with a regular credit card.

KOHO: Your Smart Spending and Saving Partner

Brief: KOHO revolutionizes personal finance management for Canadians by offering a seamless way to spend, save, and manage money. With a virtual ecosystem designed for accessibility and efficiency, KOHO users embrace a no-hidden-fees policy and a vast array of features to optimize their financial well-being.

Core Features:

• 🚀 Instant Access: Sign up and get a Virtual Visa Card to start transacting within minutes.
• 💲 Zero Hidden Fees: Say goodbye to overdraft, minimum balance, and unnecessary service fees.
• 💰 Cashback Rewards: Accumulate 0.5% cashback on everything, with 2% in key categories for KOHO Premium members.
• ⏱️ Early Payroll Feature: Get $100 of your paycheque up to 3 days early or on-demand for a small fee.
• 🏦 Effective Savings Tools: Utilize real-time notifications and automated savings to effortlessly save money.

Pros:

• 👍 High Savings Rate: Users average a 7% monthly saving of funds added to their KOHO account.
• 👍 Comprehensive Banking: Pay bills, transfer funds, and set up direct deposit without hassles.
• 👍 Robust Security: Funds are safeguarded by CDIC insured Peoples Trust, and users are protected by Visa’s Zero Liability policy.
• 👍 Responsive Development: KOHO evolves through user feedback, ensuring a platform built for and by its users.

Cons:

• 👎 Exclusivity: Services are tailored for Canadian residents only, limiting global reach.
• 👎 Cashback Limits: Higher cashback rates are restricted to KOHO Premium accounts.
• 👎 Credit Facility Absence: There’s no credit line available, which might not suit all financial needs.
• 👎 Limited Early Payroll: Free early access to payroll is capped at $100, with additional access requiring fees.

Price:

• 💵 KOHO offers a fee-free experience with no hidden charges for its basic features. KOHO Premium, which provides additional perks, is a paid upgrade with the pricing details available in-app or on the official website.

Download KOHO now for an innovative approach to managing your finances with ease and efficiency. Start a journey towards savvy spending and strategic saving, all wrapped in a secure and user-centric environment.