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Limited time only: Get a $20 bonus* with code: COMPAREWISE - Claim this offer

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  • $84 Annual Fee
  • $20 Welcome Bonus
  • 6% Rewards Rate
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Limited time only: Get a $20 bonus* with code: COMPAREWISE - Claim this offer

KOHO Premium Prepaid Mastercard Overview

Editorial Note: Comparewise is supported by our readers. When you find products and services through links on our site, we may earn commission.

*Limited time only – Get a $20 cash bonus with code: COMPAREWISE by opening an account and making a purchase with KOHO card within 30 days after registration (this works with both virtual and physical cards).

The KOHO Premium Prepaid Mastercard can be just what you need to earn cashback on everyday purchases. With an earn rate of 2% cashback on three major categories and 0.5% cashback on everything else and up to 4%, this card is valuable for most cardholders.

Also, the KOHO Premium Prepaid Mastercard doesn’t carry any foreign transaction fees. Unlike most cards that charge a foreign exchange fee of 2.5%, you’ll save on that fee. This means you won’t return home with high fees charged to your account after your travels.

koho 20 bonus promo banner mastercard- comparewise

The KOHO Premium Prepaid Mastercard further proves worth it with its unique perks. This includes a $20 referral bonus, 1 free international ATM withdrawal every month, and higher velocity limits. Also, you can benefit from KOHO Credit Building and KOHO Save.

With a KOHO premium account, you also benefit from their price protection service. All you have to do is send KOHO your past receipts, and they’ll search for a better deal. If they find one, they’ll credit the difference to your KOHO account.

koho no fees instant cashback on every purchase

Essential Information





Card Type



The KOHO Premium Prepaid Mastercard has a lucrative welcome bonus and valuable cashback rewards.


The KOHO Premium Prepaid Mastercard earns:

  • 2% cashback on three major categories, including food and drinks, public transport, and groceries, and
  • 0.5% cashback on everything else, and up to 4%.
koho-mastercard-on desk-comparewise

Other Perks

As a KOHO Premium Prepaid Mastercard cardholder, you will receive the following benefits.

  • A price protection service that will credit the difference in the price of a purchase made with your KOHO card.
  • $20 referral credit for any friend who signs up and makes their first purchase within 30 days of registration.
  • 1 free international ATM withdrawal every month. This means you’ll save $5 when you make a withdrawal abroad.
  • Maximum ATM withdrawals of $800 per day and an account balance limit of $40,000.
  • Access to a virtual and physical card.
  • Seamless depositing of funds through e-transfer or direct deposit.
  • Ability to make purchases wherever you see a Mastercard logo.
  • On-demand financial coaching.
  • Priority user support.
  • Protection policy to secure your card.
  • Ability to add your card to Samsung, Google, and Apple Pay.
  • Real-time spending notifications.
  • Ability to rebuild your credit score with KOHO Credit Building.
  • 1.2% interest on spending and savings through KOHO save.
  • 30-day free trial.

Costs and Fees

The KOHO Premium Prepaid Mastercard carries the following costs and fees.

  • Monthly fee: $4 (Essential plan), $9 (Extra plan), $19 (Everything plan)
  • Additional card fee: $0
  • Inactivity fee: $1 (for accounts that have been open for 13 months and inactive for 6 months)
  • Foreign transaction fee: 0%
  • International ATM withdrawal fee: $5

Cash Back Partners

Get extra cash back when you make a purchase with KOHO partners.

– Altitude Sports
– Attitude
– Baskin Robbins
– iQ
– Indigo
– Indochino
– Kernels
– Open Farm
– Pizza 73
– Pizza Pizza
– Sunwing
– Vitamix
– Well.ca
– Branch
– Booking.com
– Buffalo David Bitton
– Chefs Plate
– Contiki
– Frank And Oak
– Kit Ace
– Rakuten Kobo
– Meyer
– Nature Market
– Reebok
– 10 Tentree
– The Last Hunt

FAQs about the
KOHO Premium Prepaid Mastercard

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.

General Terms

View the Mastercard Cardholder Agreement here.

KOHO Premium Prepaid Mastercard Details

Network Provider
Card Type
Rewards, Secured
Rewards Type
Annual Fee
Purchase Interest Rate
Credit Needed
Poor (300 - 559)

KOHO Premium Prepaid Mastercard Offices

Phone Number
Weekdays: 9 am-9 pm ET Weekends: 9 am-5 pm ET
25 E 6th Ave Vancouver BC V5T 1J3 Canada
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KOHO Premium Prepaid Mastercard Card Details
  • Min. Credit :
    Poor (300 - 559)
  • Card Type : Rewards, Secured
  • Reward Type : Cashback
  • Providers : KOHO
  • Network Provider : Mastercard
KOHO Premium Prepaid Mastercard Social Media
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