Why You Should Get a KOHO Prepaid Mastercard

A KOHO Prepaid Mastercard® gives you most of what you want from a chequing account and credit card—without actually going into debt.

You load your own money, use it everywhere Mastercard is accepted, and manage everything in the KOHO app.

1. You Spend Your Own Money (Not Borrowed Money)

KOHO is prepaid, which means:

• You only spend what you load into your account

• There’s no interest on purchases and no traditional overdraft

• It’s easier to avoid the “credit card spiral” of balances and fees

2. Cash Back + Interest on Your Balance

With KOHO, your money doesn’t just sit there:

• You earn cash back on eligible purchases (like groceries, eating out, transit, etc., depending on your plan)

• You can earn high interest on the money in your account

So your everyday spending and parked cash both work harder than they would in a basic savings account.

3. Fewer Annoying Fees

KOHO is built to cut out a lot of the fees people are used to with traditional banking:

• No NSF/overdraft interest

• No transaction fees

• No surprise interest charges

• Plans designed to feel like a transparent monthly subscription

You keep more of your money for actual goals, not bank costs.

4. Built-In Budgeting and Savings Tools

The KOHO app is designed to help you stay on top of your money, not just swipe:

• Real-time spend tracking by category

• Easy ways to set aside money for goals (like travel, an emergency fund, or big purchases)

• Notifications that keep you aware of every transaction

It’s a simple way to see where your money is going and nudge more of it toward savings.

5. Credit Building (Optional)

On top of the prepaid card, you can add KOHO Credit Building as a monthly subscription:

• KOHO sets up a line of credit in your name

• Reports your on-time payments to Equifax

• Helps you build credit history over time

6. Great for Online Shopping and Travel

A KOHO Prepaid Mastercard works almost anywhere you’d use a regular card:

• Online purchases and subscriptions

• Tap, chip, and PIN in stores

• Travel spending, with Everything plan offering better perks and no FX fees

7. Easy to Start, Easy to Use

Because KOHO is prepaid and app-based:

• You can sign up digitally

• Load money via e-Transfer, direct deposit, or linked accounts

• Manage everything from your phone

No long branch visits or complex product menus.