All KOHO plans put cash back in your pocket
In most day-to-day situations, Prepaid Visa and Prepaid Mastercard work almost the same.
Both run on major payment networks, both can be used online and in-store, and both are loaded with your own money, not a credit limit.
For most people, the real difference isn’t the logo on the card—it’s which company is issuing the card and what features come with it (cash back, fees, app experience, budgeting tools, etc.).
Make Essential your no fee account
KOHO Essential
With KOHO Essential:
It has a low monthly plan fee that can be waived when you set up direct deposit or add +$1,000.
Use a prepaid Mastercard® for groceries, bills, subscriptions, and travel.
Grow your savings with a 2% interest savings rate on your entire balance.
Earn 1% cash back on groceries, eating & drinking, and transportation.
You can add Credit Building for $10/month, it's an affordable way to build your credit history
Enjoy unlimited transactions and free e-transfers (never worry about fees when sending money to someone again).
What Visa and Mastercard Prepaid Cards Have in Common
Whether it’s Visa or Mastercard, prepaid cards generally:
Are reloadable – you add money before you spend
Work on a global card network (online and in-store)
Don’t come with a revolving credit balance
Let you shop online without a traditional credit card
Help you limit spending to what you’ve loaded
For everyday use, both networks are widely accepted in Canada and abroad.
When the Network Might Matter
In practice, the network (Visa vs Mastercard) only matters a bit in these cases:
Specific merchants or countries that strongly prefer one network
Certain extras or protections that might be tied to a particular card program
Personal preference if you’ve had better luck with one network’s acceptance historically
But again, most people won’t notice a big difference in daily life between prepaid Visa and prepaid Mastercard.