Who Can Benefit From the KOHO Premium Prepaid Mastercard?
Anyone who wants to be more mindful of their spending will benefit from the KOHO Premium Prepaid Mastercard. Also, it’s suited for you if you’ll benefit from the high cashback earnings rate offered for essential categories.
The KOHO Premium Prepaid Mastercard is ideal for anyone who earns enough to offset the $84 yearly fee.
With KOHO’s credit building service, anyone who wants to rebuild or build their credit can benefit from this card. Also, if you want to place your money somewhere to earn interest, KOHO Save can be handy.
Do I Qualify for the KOHO Premium Prepaid Mastercard?
The eligibility requirements for the KOHO Premium Prepaid Mastercard include:
- A valid Canadian residency
- Age of majority in your province (at least 18 or 19 years old)
There’s no minimum income required for this card.
Will I Earn Cashback While I’m on the 30-Day trial?
Yes. You’ll get all the benefits of a KOHO premium account, including the 2% cashback on three major spending categories.
When Will I Get My Cashback Rewards?
KOHO deposits the cashback you earn into your account 1-2 days after every purchase.
What Makes KOHO Different?
KOHO provides all of its services digitally, except for ATM withdrawals. They prioritize financially empowering users and keeping costs low. Their aim is to pass as many savings as possible to their users.
Should I Keep My Regular Bank Account Even If I Have KOHO?
You can use your regular bank account as a backup and KOHO for your day-to-day needs. It’s up to you. You can also use KOHO for your personal finance needs, including having your paycheque deposited directly into your account.
Can I Transfer My Money to Another Account?
Yes, you can transfer your money to another account. E-transfers are free and unlimited.