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  • $84 Annual fee
  • $20 Welcome Bonus
  • 2% Rewards Rate
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Limited time only: Get a $20 bonus* with code: COMPAREWISE - Claim this offer

KOHO Premium Prepaid Visa Overview

KOHO has recently switched to Mastercard! Check out the KOHO Premium Prepaid Mastercard here.

*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 Visa card 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, this card is valuable for most cardholders.

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Also, the KOHO Premium Prepaid Visa card 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.

The KOHO Premium Prepaid Visa card 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.

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Essential Information





Card Type



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


The KOHO Premium Prepaid Visa earns:

  • 2% cashback on three major categories, including food and drinks, public transport, and groceries, and
  • 0.5% cashback on everything else.
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Other Perks

As a KOHO Premium Prepaid Visa 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 Visa logo.
  • On-demand financial coaching.
  • Priority user support.
  • Visa 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 Visa carries the following costs and fees.

  • Annual fee: $84
  • 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
– Branch
– Buffalo David Bitton
– Chefs Plate
– Contiki
– Frank And Oak
– Kit Ace
– Rakuten Kobo
– Meyer
– Nature Market
– Reebok
– 10 Tentree
– The Last Hunt


Who Can Benefit From the KOHO Premium Prepaid Visa Card?

Anyone who wants to be more mindful of their spending will benefit from the KOHO Premium Prepaid Visa card. Also, it’s suited for you if you’ll benefit from the high cashback earnings rate offered for essential categories.

The KOHO Premium Prepaid Visa 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 Visa Card?

The eligibility requirements for the KOHO Premium Prepaid Visa card 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.

KOHO Premium Prepaid Visa Details

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

KOHO Premium Prepaid Visa 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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April 10, 2022

Been racking up $20 referral bonuses 😉 I mean its good. Referred a friend, signed up, verified, made a purchase, and we both got a $20 in an hour!

But its a prepaid Visa – its not a bank account. I’ve tried to apply for credit and such; and they couldn’t accept KOHO Statement or my account; because its not a bank account. Maybe one day tho!

April 10, 2022

I’ve been using Koho for almost 2 years and I’m very satisfied with it. I use it as my personal wallet (i.e. “personal expenses” account), considering that my main bank account is the one I use for family & life expenses. It’s easy to setup, easy to use; the Savings Goals feature works like a charm to save money in the background. I always use the digital card for online purchases and I’ve never had any security or fraud related problems. I won’t use it as my main account, but for personal stuff it’s a great fit.

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KOHO Premium Prepaid Visa Card Details
  • Min. Credit :
    Poor (300 - 559)
  • Card Type : Rewards, Secured
  • Reward Type : Cashback
  • Providers : KOHO
  • Network Provider : Visa
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KOHO Premium Prepaid Visa Reviews
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