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  • $0 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 Prepaid Visa Overview

KOHO has recently switched to Mastercard! Check out the KOHO 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).

In Canada, prepaid cards are not as common as credit cards. So when you find one, it’s like discovering a diamond amongst coal. With the KOHO Prepaid Visa Card, you’ll get the best of both worlds: no account fees and excellent cash back rewards.

KOHO doesn’t charge monthly ATM withdrawal and card cancellation fees. So the KOHO Prepaid Visa Card is one of the most cost effective cards in the market. Besides the cost savings you receive as a cardholder, you earn 0.5% cashback on all your purchases. What’s more, at select merchants, you can earn up to 6% cashback.

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The KOHO Prepaid Visa Card is entirely risk-free. You aren’t dealing with credit, so you won’t have to pay anyone. Instead, you load cash onto your card by funding the attached account. That way, you spend your own money, and you don’t risk running into debt.

This card is ideal if you want to build better spending habits. You’ll have access to the KOHO app equipped with budgeting tools. Saving is easier with KOHO as well. You can automate your savings and set saving goals through the app.

KOHO thought of just about everything you’d need to improve your financial health:

  • Build your credit for only $7/month
  • Earn interest on spending and savings
  • Pay expenses on time and save part of your income automatically
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Essential Information





Card Type



As a cardholder, every time you refer someone to KOHO, you’ll be eligible for a referral credit. In addition, the KOHO Prepaid Visa Card automatically enrols you in KOHO’s cashback program.

Referral Bonus

When you refer someone to KOHO, both of you will receive $20. They must make their first purchase within 30 days of registration, or else neither of you will receive the bonus.


As a KOHO Prepaid Visa cardholder, you will earn:

  • 0.5% cash back on all purchases
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Cash Back Partners

With the KOHO Prepaid Visa, you’ll receive up to 6% extra cash back at the following KOHO partners.

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

Other Perks

Besides earning cashback rewards, KOHO Prepaid Visa cardholders receive the following benefits.

  • Unlimited e-transfers.
  • 1.2% savings interest on spendable, RoundUp, and savings balances.
  • Save as you spend with the RoundUp feature. This feature will round all your card purchases to the nearest $1, $2, $5, or $10.
  • Lock your card at any time through the KOHO app.
  • Access to a credit building feature to improve your credit score.
  • Visa Zero Liability protects you from unauthorized transactions made with your card.
  • Access a $100 advance of your salary through KOHO’s Early Payroll feature.
  • A virtual card to use for online shopping.
  • Ability to add your card to Samsung, Google, and Apple Pay.

Costs and Fees

  • Monthly fee: $0
  • The annual interest rate on purchases: N/A
  • Inactivity fee: $1.00
  • INTERAC e-transfer fee: $0
  • EFTs from your bank: $0
  • Card cancellation fee: $0
  • ATM Withdrawal fee: $0
  • Visa Direct Load Fee: 75¢ per transaction (on transactions of or below $300)
  • Foreign transaction fee: 1.5%
  • KOHO Credit Building: $7/month
  • KOHO Early Payroll Instant: $5/month


Should I Get the KOHO Prepaid Visa Card?

This depends on what you want in a card and your spending needs. If you want a card that will improve your credit score, the KOHO Prepaid Visa Card isn’t for you. The reason is that it doesn’t report account activity to the credit bureaus. However, you can add a credit building feature to your account for a fee.

If you want to save on account fees while earning cash back, the KOHO Prepaid Visa Card is for you. It’s also great for monitoring your spending habits and automating savings.

Is the KOHO Prepaid Visa Card a Credit Card?

No. The KOHO Prepaid Visa Card is a prepaid card. However, it has an aspect unique to credit cards: it earns you cash back.

How Is the KOHO Prepaid Visa Card Different from a Debit Card?

You’ll be charged various fees for anything from account maintenance to transactions with a debit card. The KOHO Prepaid Visa Card doesn’t charge account fees. You won’t have to pay a monthly fee, and you won’t be charged when you make ATM withdrawals.

Can I Use the KOHO Prepaid Visa Card Anywhere?

Absolutely. The KOHO Prepaid Visa Card runs on the Visa network. Visa is one of the world’s largest payment processing networks. So you can use your card at several stores in Canada and abroad wherever you see the Visa logo.

Will the KOHO Prepaid Visa Card Improve My Credit Score?

Unfortunately, the KOHO Prepaid Visa Card won’t improve your credit score. Since it’s not a credit product, any activity in your account isn’t reported to the credit bureaus. However, you can sign up for KOHO’s credit building feature to improve your credit score.

How Do I Apply for the KOHO Prepaid Visa Card?

You apply for the KOHO Prepaid Visa Card online. Simply visit KOHO’s website and tap the open account button in the upper right-hand corner. You’ll be required to complete a form, which should take less than five minutes.

What Fees Are Charged on the KOHO Prepaid Visa Card?

KOHO charges an inactivity fee of $1 when your account has been open for 13 months but inactive for six months. Also, if you make purchases that aren’t in Canadian dollars, you’ll be charged a foreign transaction fee of 1.5%.

KOHO Prepaid Visa Details

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

KOHO 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 with KOHO for over 5 years so far and I’m loving the service and efficiency of the card! I do lots of traveling & Premium Membership defiently makes it worth that small fee if you have many transactions to make online or out of seas. Had little issue with connection few days ago and thanks to Chat Support I had same day response with guidance on how to fix my issue I had and back to normal within few hours. I defiently recommend if you make lots of transactions or want to save Money on the side many good services on the App 🙂 + The new Cover me that came out on the new update is super cool if ever low on cash 50$ over draft.
Not sure why people below are complaining all their issues seemed like a obvious problem that could have been avoided from their end again don’t forget this Is not a Normal bank to go full extended on stuff you would at regular bank. It is a Well trusted money institution with variety of options.

April 10, 2022

Wow. These reviews confuse me. They have really good reviews on play store so I guess their customer service is horrible? Full disclosure: I haven’t had to contact customer service because the app has been great and worked seamlessly. I love the app. I love the way it is all digital. Why are you guys requesting a plastic card? It is a digital app. Put it into your google and apple pay. I’ve referred 4 people and gotten my own 20 dollars for signup this past week for that free $100 to pay off my post Christmas credit card. (Paid my phone bill with my KOHO and used my phone bill money to pay off the Christmas credit card).
Why would you guys give up your bank account for koho? You need etransfers from your bank account to fund koho. It isn’t a bank account. It is a prepaid Visa. It is a convenience card with awesome referral program. I can make $1000! 100 down. $900 to go ♡♡♡ Maybe I’ll sign up for a new Netflix trial with it for a free month of Netflix ♡ love this “card” (digital)

April 10, 2022

Never had an issue and the one and only time I contacted support with a general question, they replied within seconds and answered my question no problem! The referral bonus is awesome, the credit building rocks, and the price matching is unmatched!! Definitely recommend KOHO!!

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KOHO 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 Prepaid Visa Reviews
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