Will Instant Pay work with my bank?

Back to learn

Will Instant Pay work with my bank?

Rounding it up

  • Instant Pay from KOHO is a form of earned wage access that lets you get up to 50% of your earned wages at the end of each day that you work.

  • KOHO’s Instant Pay program is designed to operate within your company’s existing payroll structures, so it should work with whatever Canadian bank that you already use to get your paycheque via direct deposit.

  • KOHO also supports transfers to most banks in Canada. If you’re concerned that your financial institution won’t be supported, reach out to KOHO’s customer support team for specific guidance on your situation.

  • If you choose to receive your funds via Instant Pay using a non-KOHO bank account, you will need to pay a small fee every time you request early access to your paycheque.

  • You can avoid this fee completely by having your Instant Pay funds sent directly to your KOHO account.

7 min read

Gaby Pilson
#earned wage access#payroll#Instant Pay

Gaby Pilson

Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.

Recent Articles

Bank of Canada raises interest rates

How fast does your credit score go up in Canada?

Will personal loans impact my credit score?

Can I get a personal loan with bad credit?

What kind of loans can I get in Canada?

Should I split my money between banks?

Related articles

Why are employers signing up for Instant Pay?

4 mins

Ryan Severance

With Instant Pay, employers have a new way to reward hard workers. Here’s how Instant Pay programs are revolutionizing payday.

Why are employers signing up for Instant Pay?

4 mins

Ryan Severance

With Instant Pay, employers have a new way to reward hard workers. Here’s how Instant Pay programs are revolutionizing payday.

#Instant pay

#payroll

#payday

#earned wage access

#paycheque

# small business

#hiring

logo.koho

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.