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Privacy Policy

KOHO Financial Inc. (“KOHO”, “we”, “us” or “our”) is committed to protecting the privacy and confidentiality of personal information in our possession and control. This Privacy Policy explains the measures we take to fulfill these commitments and describes the manner in which KOHO collects, uses, maintains, discloses and otherwise treats personal information of users (each, a “User”) of our website at www.koho.ca and the KOHO mobile application (collectively with all subpages and successor pages, the “Site”) as well as through other products and services offered by KOHO (collectively the “Services”) and other interactions with our clients and prospective clients.

Your Consent: By using the Site, registering for or obtaining a Service and/or providing us with personal information, you consent to the collection, use and disclosure of your personal information as described in this Privacy Policy. Capitalized terms that are used but not defined in this Privacy Policy have the meaning given to those terms in the KOHO User Terms.

In order to exercise any of your rights described herein you can contact us using the details in the “Contacting Us” section below.

Personal Information We Collect: We collect personal information from Users directly, through their interactions with the Site and the Services, and through third parties, as described below.

We collect personal information from Users in a variety of ways, including, but not limited to, when Users visit or use our Site, register for or use a Service, and in connection with other activities, services, features or resources we make available on or through our Site. Users may be asked for, as appropriate, name, address, email address, telephone number, date of birth, government ID information, social insurance number, payroll provider, occupation, employer or other related organization, and banking or other account information.

Users may also provide us with other personal information when they contact us with questions, inquiries, complaints or suggestions. We also collect information about how Users use our Site and Services.

We also collect information about your use of our Services, including information about your transactions using your Card (such as transaction date, amount and location).

We may collect personal information from third party partners with User consent. For example, with your consent we may collect credit score and related information from credit bureaus.

If you create an account, you agree that we may verify your name, address, phone number, and other account details with information about you held by third party or publicly available sources (such as identity verification providers, fraud prevention services, government registries and your mobile service provider) in order to verify your identity and help protect against potential fraud, such as when someone other than you is trying to use your account or conduct a transaction without your permission, and you provide your consent for them to disclose and/or compare your information for this purpose. Your personal information will not be shared with these third parties for any other purpose.

Information we Collect Automatically through our Site:

We may collect information about Users whenever they interact with our Site. This information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information. We use this information to understand how Users interact with our Sites, and to make improvements.

Cookies and Similar Technologies. Our Site uses a technology called “cookies”. A cookie is a tiny element of data that the Site can send to your browser, which may then be stored on your hard drive so that you can be recognized when you return. We use cookies on the Site to enhance User experience and in order to deliver personalized recommendations, products and services. We also use cookies to provide us and our service providers with information about your use of the Site and other websites that we and they may use to personalize the Site or other content such as advertising in accordance with your interests and preferences (e.g. language preference) and improve your user experience. You may set your Web browser to notify you when you receive a cookie or to not accept certain cookies. However, if you decide not to accept cookies from the Site, you may not be able to take advantage of all of the features of the Site.

Tracer Tags & Web Beacons. The Site may also use a technology called “tracer tags” or “Web Beacons”. This technology allows us to understand which pages you visit on the Site. These tracer tags are used to help us optimize and tailor the Site for you and other future visitors to the Site.

Online Advertising. We may use third parties to serve our advertisements on our Site or other websites. These companies may use cookies, tracer tags or web beacons to report certain information about your visits to our Site and other websites (such as web pages you visit and your response to ads) in order to measure the effectiveness of our marketing campaigns and to deliver ads that are more relevant and tailored to you, both on and off our Site.

How we use Collected Information: KOHO may collect and use Users’ personal information for the following purposes:

  • To provide Services: We use information in order to register Users for a Service, to provide and administer our Services and to resolve any issues relating to a Service.

  • To process your application for a Card (including to verify your identity) and, if a Card is issued to you, to provide you with services relating to your Card (including to administer your Card and to process your Card transactions).

  • To respond to inquiries and provide and improve customer service: We use information to respond to a User’s inquiries, questions, and/or other requests. Information users provide helps us respond to customer service requests and support needs more efficiently

  • To personalize user experience: We may use the information we collect to personalize a User’s experience when they visit or use the Site or Services. We may also use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site

  • To improve our Site: We may use the information we collect, including feedback Users provide, to improve our Site and Services.

  • To run a promotion, contest, survey or other Site feature: We use information to administer contests, promotions, surveys and other Site features.

  • For marketing purposes: We may use personal information in order to better understand our User’s needs and preferences in order to provide them with information and offers that we believe may be of interest to them. We may provide information and offers by any means, including by e-mail, in-app notifications, push notifications, SMS and display advertising. Users may opt out of having their personal information used for these purposes by contacting us as described below.

  • For research and analytics: We may use the information we collect to generate aggregate or de-identified data, which is not capable of identifying any particular User. We may use aggregate and de-identified data for any lawful purpose, including research and analytics.

  • For our other reasonable business purposes: We may use information to detect and prevent fraud, for legal compliance purposes, to enforce our agreements with Users and to maintain business records. We may also use information for other purposes with User consent or as permitted or required by law.

How We Protect Your Information: We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of Users’ personal information. Personal information is maintained on our servers or those of our service providers and is accessible to authorized employees, representatives and agents who require access in connection with their job responsibilities.

Your online access to certain of your personal information is protected with a password you select. We strongly recommend that you do not disclose your password to anyone. We will never ask you for your password in any unsolicited communication (such as letters, phone calls or email messages). If we learn of a breach, we will inform you and the appropriate authorities of the occurrence of the breach in accordance with applicable law.

Sharing your Personal Information: We may disclose personal information to third parties (including outside of Canada) as necessary to provide the Services that a User has requested.

We may disclose personal information to third parties, such as identity verification providers, fraud prevention services, government agencies and mobile service providers, in order to verify your identity, contact information and account details, as described in the Personal Information We Collect section above.

We may disclose your personal information and payment history to credit bureaus for the purposes of updating and maintaining the information in their records.

We may use service providers to perform specialized services on our behalf such as data hosting or processing services, banking, payment processing services, research, marketing and analytics, customer service, digital support or mail distribution. Our service providers may at times be responsible for processing personal information. They are provided only the information necessary to perform the service. In addition, we require them to protect the information in a manner that is consistent with our Privacy Policy and security practices.

We may disclose personal information in connection with the proposed or actual financing, securitization, insuring, sale, assignment or other disposal of all or part of KOHO or our business or assets, for the purposes of evaluating and/or performing the proposed transaction. Assignees or successors of KOHO or our business or assets may use and disclose your personal information for similar purposes as those described in this Privacy Policy.

We may disclose personal information in other circumstances with User consent or as permitted or required by law, including as required by foreign laws applicable to us, our affiliates and service providers.

We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.

We may transfer personal information we collect about you to jurisdictions other than the jurisdiction in which the information was originally collected and your personal information may be processed and stored outside of your jurisdiction of residence, including outside of Canada. Those jurisdictions may not have the same data protection laws as your jurisdiction of residence and your personal information may be subject to applicable foreign laws. If we transfer your personal information to other jurisdictions, we will protect that personal information in the manner described in this Privacy Policy.

Your Choices: You may withdraw your consent to our collection, use and disclosure of personal information at any time, by contacting us as described in the “Contacting us” section below. Please note that your right to withdraw consent is subject to contractual and legal restrictions and reasonable notice. If you withdraw your consent, certain functionality of the Site may not be available to you and we may not be able to provide you with certain Services.

You may ask us to close your account by using the “Cancel Account” button in our mobile application. Please see the User Terms for additional information about account cancellation.

You may ask that we not use your personal information for marketing purposes by contacting us as described in the “Contacting us” section below or by using a unsubscribe feature found within our marketing communications, where applicable. Please note that if you ask us not to use your personal information for marketing purposes, you may still see certain types of ads from us (for example, online), but these will not be tailored to your interests.

Children’s Privacy: Our Site is not directed to children under the age of sixteen and we do not knowingly collect information from children under the age of sixteen on our Site. If we become aware that we have inadvertently received information from a visitor under the age of sixteen on our Site, we will delete the information from our records.

User Submitted Content: Users may be able to submit reviews, content and other information and materials that users have created through our Site and through third party social media platforms. ANY OPINIONS EXPRESSED IN ANY SUCH USER SUBMITTED CONTENT ARE SOLELY THOSE OF THE USERS THAT SUBMITTED THE CONTENT AND DO NOT NECESSARILY REFLECT THE OPINIONS, POLICY OR POSITION OF KOHO. USERS ASSUME ALL RISKS ASSOCIATED WITH SUCH CONTENT, INCLUDING, BUT NOT LIMITED TO, ANY THIRD PARTY’S RELIANCE ON ITS QUALITY, ACCURACY, OR RELIABILITY, OR ANY DISCLOSURE OF INFORMATION IN YOUR USER CONTENT THAT MAKES YOU OR OTHERS PERSONALLY IDENTIFIABLE. YOU HEREBY AGREE THAT KOHO HAS NO RESPONSIBILITY OR LIABILITY WHATSOEVER FOR ANY SUCH ACTIVITIES. YOU ALSO AGREE AND UNDERSTAND THAT YOUR USER CONTENT IS NOT SPONSORED OR ENDORSED BY KOHO, AND YOU WILL NOT IMPLY THAT YOUR USER CONTENT IS IN ANY WAY SPONSORED OR ENDORSED BY KOHO.

Third Party Websites: Our Site may contain links to other websites that we do not own or operate. Also, links to our Site may be featured on third party websites on which we advertise. We provide links to third party websites as a convenience to the user. These links are not intended as an endorsement of or referral to the linked websites. The linked websites have separate and independent privacy policies, notices and terms of use, which we recommend you read carefully. We do not have any control over such websites, and therefore we have no responsibility or liability for the manner in which the organizations that operate such linked websites may collect, use or disclose, secure and otherwise treat your personal information.

Safeguarding Credit Card Information: We protect personal and credit card information in our possession or control from loss, theft, alteration and misuse. The safeguards employed by us to protect your personal information depend on the sensitivity, amount, distribution, format and storage of the personal information. Although technologies can make it easier for fraud to occur, we employ around-the-clock monitoring systems and controls to detect and prevent fraudulent activity. We also build fraud prevention measures into our due diligence processes and regularly update our fraud detection/prevention methods. While we take precautions to protect your personal information from loss, theft, alteration, or misuse, no system or security measure is completely secure. Any transmission of your personal information and credit card information is at your own risk and we expect that you will use appropriate measures to protect this information as well.

Retaining Your Personal Information: We will retain personal information for as long as reasonably necessary to perform the Services you have requested, protect our Site and Services and related systems from fraud or other unlawful activity, meet our legal obligations, and protect and enforce our legal rights. If you withdraw your consent to our processing of your personal information or cancel your account, we will no longer use or disclose your personal information to provide the Services, but we may retain your personal information as necessary for the purposes noted above.

Changes to our Privacy Policy: KOHO may update or change this Privacy Policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about we handle personal information. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your continued use of the Site or Services following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting Us: You may request access to or correction of your personal information in our custody or control, by writing to the address below, attention Chief Security Officer. Our Chief Security Officer is responsible for the protection of personal information. Your right to access or correct your personal information is subject to applicable legal restrictions. We may take reasonable steps to verify your identity before granting access or making corrections. If you have any questions about this Privacy Policy, or our personal information handling practices generally, please contact us at:

KOHO
www.koho.ca
67 Mowat Ave, Suite 200, Toronto, ON, M6K 3E3, Canada
privacy@koho.ca

This document was last updated on August 24, 2022.

KOHO USER TERMS

The following terms and conditions apply to the use of the products and services offered by KOHO Financial Inc.:

I.

II.

III.

IV.

V.

VI.

When you see the following terms used throughout the terms and conditions, they will always have the following meanings:

  • Card” or “KOHO Card” means a plastic or virtual KOHO Prepaid Mastercard® or KOHO Premium Prepaid Mastercard.

  • “Cardholder” means an individual who requests, activates, receives or uses a Card. The Cardholders of joint KOHO Accounts are also referred to as “Joint Cardholders”.

  • KOHO”, “we”, “us” or “our” means KOHO Financial Inc.

  • “KOHO Account” means your regular or Joint account with KOHO to facilitate your spending/savings conducted via your KOHO Card supported by the KOHO App.

  • “KOHO App” means the KOHO application downloaded from the App Store or Google Play Store, as well as any affiliated web interface(s) made available to sign-up for KOHO products and services.

  • You” and “your” means a KOHO user, including a Cardholder.

KOHO Customer Service – You can contact KOHO Customer Service:

  • through the KOHO App – you can download this from the App Store or Google Play™

  • by emailing support@koho.ca

  • by calling our customer service toll-free number at 1-855-564-6999 (KOHO-999)

  • in writing at 67 Mowat Ave #200, Toronto, ON, M6K 3E3

I. KOHO CardHolder Agreement — Mastercard

This Section applies to your KOHO Mastercard Prepaid Card or KOHO Premium Mastercard Prepaid Card, as applicable. By activating or using your Card or allowing anyone else to use your Card, you are agreeing to the terms and conditions in: (i) this KOHO CardHolder Agreement - Mastercard; (ii) the KOHO Privacy Policy; and (iii) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. SUMMARY OF IMPORTANT CARD DETAILS

Use of Card: You can use your Card anywhere that Mastercard is accepted to make purchases or ATM withdrawals. When you use your Card, your Card balance will decrease. You must ensure that there is a sufficient balance on the Card to cover the full amount of transactions made with the Card. Your Card is reloadable. Funds can be loaded onto your Card in a number of ways, as explained further below.

Card Information, Expiry and Balance: For up-to-date Card terms and conditions or to check your balance for free, contact KOHO customer service. Your right to use the funds loaded onto your Card will not expire but your plastic card may expire. If funds remain on the Card after the “good thru” date, simply contact KOHO customer service for instructions on how to receive a replacement Card free of charge or to arrange for the return of your funds.

Fees and Limits: Certain Fees and limits will apply to the use of your Card – see the Fees and Limits section of this KOHO CardHolder Agreement - Mastercard. These are subject to change. Please keep your contact information up to date.

Card Restrictions: Cardholders must be of the age of majority in the province or territory where they reside. You may not use your Card to commit or facilitate any illegal or prohibited activity. We may suspend or deactivate your Card and/or KOHO Account or decline a transaction at any time if we suspect illegal activity or fraud. You do not have the right to stop the payment of any transaction you conduct with the Card. You may not add funds to your Card via wire transfer. Your Card (or card number) cannot be used for “cashback” transactions where a merchant charges you an amount greater than the price of the goods and services purchased. Your Card may also not work at unattended terminals (such as parking or pay at the fuel pump stations). Use of your Card in certain countries may be restricted by applicable law.

Funds loaded onto the Card are not a “deposit” and are not insured by the Canada Deposit Insurance Corporation (CDIC).

Protection of Card and PIN; Lost or Stolen Cards: You must take all reasonable steps to protect your Card and PIN against loss, theft or unauthorized use. You should not maintain a written record of, or disclose the PIN to a third party, including family members and friends. In the case of a joint KOHO Account, you may only use the Card and PIN issued to you. Avoid PIN combinations that may be easily guessed by others. If you lose your Card and/or PIN or you become aware that your PIN may have become known to someone else, or if you have reason to believe that someone has made an unauthorized transaction with your Card, or may attempt to use your Card without your permission, you must IMMEDIATELY lock your Card in the KOHO App and notify KOHO customer service. If you do not notify us IMMEDIATELY then all transactions carried out on your Card before you notify us will be considered to have been made by you.

2. KOHO CARD USE

(a) Using Your KOHO Card: Subject to the Card limits and other terms of these KOHO CardHolder Agreement - Mastercard, you can use your Card anywhere that Mastercard is accepted to make purchases or ATM withdrawals. When you use the Card, the amount of the purchase or withdrawal, plus any applicable fees and taxes, will be deducted from your Card balance. Your Card may not be used for any illegal or prohibited activity. If you authorize another person to use the Card you agree, to the extent permitted by law, that you will be liable for all transactions arising from that person’s use of the Card.

You can also use your KOHO Account to pay bills by adding the recipient as a payee or to set up pre-authorized debits (or “direct debits”) to make regular, recurring payments – to do this we will issue you transit, institution and account numbers to provide to your payee (these numbers will refer to a payment processing account that we have created for you to facilitate the direct debit from your KOHO Account and do not correspond to a deposit account held by you at a financial institution).

Bill payments and direct debit can be set up through the KOHO App. We are not responsible if you provide a payee with incorrect information or if payments to a payee do not reach the payee in time.

You must ensure that there is a sufficient spendable balance on your Card to cover the full amount of each transaction made with the Card including applicable fees and taxes – and including any direct debits that you have set up – or else your transaction may be declined. If you have allocated a portion of your balance to“Vault” that portion of your balance will not be available for transactions (see “Loading and Allocating Funds on Your KOHO Card below). If your KOHO Account has a negative balance, you must repay us the amount of the negative balance right away (unless you have opted-in to the KOHO Cover Bundle – see the separate KOHO Cover Bundle terms and conditions). We may disable or suspend your Card and KOHO Account if you have a negative balance.

If the balance on your Card is not sufficient to cover a full point of sale transaction amount, you may ask the merchant if they will accept a split tender transaction in order to cover the difference with another form of payment (e.g. cash, cheque, credit or debit). If you fail to inform the merchant that you would like to complete a split tender transaction prior to using your Card, your Card may be declined. Merchants do not have to and may not agree to accept split tender transactions.

For some transactions, we or the merchant (for example, gas stations, restaurants, hotels or car rental companies) may pre-authorize up to 20% (or more) above the purchase amount to ensure there are sufficient funds available on your Card to cover any tips or incidental expenses. In such cases, your transaction will be declined if your balance will not cover the transaction amount plus the additional amount. A pre-authorization places a ‘hold’ on an amount of your available Card funds until we release it, which in some cases we will not do until the merchant sends us the final payment amount of your purchase. The hold is typically removed between 5-15 business days for most transactions. During the hold period, you will not have access to the pre-authorized amount.

(b) Who Issues Your KOHO Card: The Card is issued and distributed by KOHO. KOHO administers the KOHO Card program including the provision of balance information and delivery of communications to Cardholders through the KOHO App and/or KOHO website or using contact details provided through the KOHO App.

Funds loaded to your KOHO Account are held at one of our financial institution partners, such as Peoples Trust Company. Peoples Trust Company is a regulated financial institution subject to oversight from the Office of the Superintendent of Financial Institutions (OSFI). All of our financial institution partners are subject to oversight by Canadian regulators.

(c) Loading and Allocating Funds on Your KOHO Card: Your KOHO Card is reloadable. You can load funds onto your Card by e-Transfer from a bank account, a supported debit card or direct deposit, or by any other method that we may make available from time to time. See koho.ca or the KOHO App for full details and instructions on available reload methods. e-Transfer services are supported by bank partners, including Peoples Trust Company.

If you request to set up direct deposits to your KOHO Account (automatic deposits of payroll or government benefits) we will issue you transit, institution and account numbers to provide to your employer or benefits provider (these numbers will refer to a payment processing account that we have created for you to facilitate the direct deposit to your KOHO Account and do not correspond to a deposit account held by you at a financial institution).

The time before funds become available may vary between load methods, but generally funds loaded to your Card will be available immediately after the load is confirmed by us. Your KOHO Account is not a deposit account, and funds loaded onto your KOHO Card are not a deposit, and they do not establish a separate individual deposit account. You will not receive interest on your Card balance unless you have opted-in to KOHO Earn Interest – see below.

We may offer different features from time to time that allow you to allocate certain portions of your Card balance to be held for different purposes, like to meet certain spending or savings goals. See koho.ca for full details.

(d) Transactions Made in Foreign Currencies: If you make a purchase using your Card in a currency other than in Canadian dollars, the amount deducted from the available funds in your Card Account will be converted by Mastercard into Canadian dollars. The applicable exchange rate will be determined by Mastercard from the range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate Mastercard itself receives. The exchange rate used for the conversion on the processing date may be different than the rate that was in effect on the date you performed the transaction and may include a margin, which is the difference between the exchange rate Mastercard is able to obtain for the foreign currency and the actual foreign exchange rate Mastercard uses for the conversion into Canadian dollars and may be an indirect cost to you. We will add the Foreign Exchange Transaction Fee to your transaction amount (see the Card Fees and Limits section). If a foreign currency transaction is refunded to your Card, the exchange rate determined by Mastercard will be used to convert your refund to Canadian dollars and the rate in effect on the day that the refund is processed may differ from the rate in effect on the transaction date or posting date. This means that the amount that is credited to your Card for a refund of a foreign currency transaction will, in most cases, be different than the amount that was originally charged to your Card for that transaction. We subtract the Foreign Exchange Transaction Fee from the amount that we refund to your Card (see the Card Fees and Limits section).

(e) Protection Against Loss, Theft, or Unauthorized Use: If your Card is lost or stolen, you must lock your Card in the KOHO App and notify KOHO customer service immediately. If you lose the Card, someone might be able to use the balance on the Card. It can be used without a PIN to make purchases. If you lose your Card and/or PIN or you become aware that your PIN may have become known to someone else, or if you have reason to believe that someone has made an unauthorized transaction with your Card or may attempt to use your Card without your permission, you must IMMEDIATELY lock your Card in the KOHO App and notify customer service. If you do not notify customer service IMMEDIATELY then all transactions carried out on your Card before you notify customer service will be considered to have been made by you. We will refund any remaining balance after we have processed all transactions completed before we had an opportunity to act on your information or, if the Mastercard Zero Liability Policy applies, all transactions for which you are covered under the Mastercard Zero Liability Policy. A replacement Card with any remaining balance (less any applicable fees as stated in the “Card Fees and Limits” section) will be issued to you after you report the Card lost or stolen and consent to a card re-issue.

With the Mastercard Zero Liability Policy, you will not be liable for any unauthorized use of the Card on any transactions processed by Mastercard if you meet the policy conditions. The Mastercard Zero Liability Policy will not generally apply to commercial cards or to transactions that are not processed by Mastercard, and you must establish to our satisfaction that you are not responsible for the disputed transaction. Verification of a Zero Liability claim can take up to 120 calendar days once all the paperwork has been received and confirmed by us, and may require a police investigation.

(f) Joint Accounts: Certain KOHO Accounts may be opened as joint accounts where there are two Cardholders who are permitted to hold and use a Card. In that case, this Agreement applies to both joint Cardholders and each joint Cardholder is jointly and severally liable (in Quebec, solidarily) to us for any negative balance or any other amounts that may be owing to us under this Agreement.

Each joint Cardholder understands that the available balance of the joint KOHO Account may be reduced by the other joint Cardholder allocating funds for savings, authorizing transactions against the Card through purchases, ATM withdrawals, direct debit authorizations, pre-authorization holds or otherwise as permitted under this Agreement. Each joint Cardholder knowingly accepts the risk that their transactions may be rejected by us for insufficient funds if the balance is used by the other joint Cardholder. It is the sole responsibility of the joint Cardholders, jointly and severally, to ensure there are sufficient funds loaded on the joint KOHO Account to cover their transactions.

Each joint Cardholder agrees that we may process transactions and accept instructions initiated by either joint Cardholder, acting alone, in any fashion permitted under this Agreement, and all joint Cardholders will be bound by the instruction and transactions as if jointly given or approved. Each joint Cardholder is entitled to receive information on the joint KOHO Account, including use of the joint KOHO Account by other joint Cardholders, without the approval of any other joint Cardholder. All funds loaded for use on a joint KOHO Account will be subject to a right of survivorship (except in the province of Quebec), so that they become the property of the surviving Cardholder if the other dies, however, in the event of death, each joint Cardholder agrees that we may provide information about the joint KOHO Account and their use to the estate representative, executor or trustee of the deceased joint Cardholder. If we are given written notice of the death or incapacity of any joint Cardholder, or we are notified that the joint KOHO Account ceases to be jointly held, we may place a hold on the funds loaded into the joint KOHO Account or allow the joint KOHO Account to continue to operate for the benefit of the remaining joint Cardholders.

WITHOUT PREJUDICE TO ANY CLAIMS THE JOINT CARDHOLDERS MAY HAVE AGAINST EACH OTHER, EACH JOINT CARDHOLDER AGREES THAT THEY SHALL NOT CLAIM AGAINST US FOR ANY LOSS ARISING OUT OF OPERATION OF THE JOINT ACCOUNTS ON THE INSTRUCTIONS OF ANY JOINT CARDHOLDER, AND THAT WE ARE NOT RESPONSIBLE FOR THE CONDUCT OF ANY JOINT CARDHOLDER.

(g) Ownership of the KOHO Card: The Card is owned by us and will remain our property. We may refuse to issue a Card to you or allow you to use your Card to make a purchase at any time and for any reason. We will mail the physical Card to the address you provide. All Cardholders must be the age of majority in the Canadian province or territory where they live. You must return or destroy the Card upon our request. You will be solely and completely responsible for the possession, use and control of the Card.

3. ADDITIONAL KOHO CARD FEATURES AND OPTIONS

(a) KOHO Cashback: You can find full details regarding cash back rewards and our cash back partners on koho.ca.

(b) Subscription Plans: If you hold a KOHO Card, you are eligible to opt into additional tiers of Card benefits to access additional rewards, features and offers (Subscription Plan”). There are multiple levels of Subscription Plans, each of which includes different perks, benefits and fees. You may opt into a particular level of a Subscription Plan within the KOHO App. You will be charged a non-refundable subscription fee in the signup process associated with your selected Subscription Plan for your continued receipt of the Subscription Plan benefits (“Plan Subscription Fee”). The Plan Subscription Fee may be charged on a monthly or annual basis (or other periodic interval, as disclosed during the subscription enrollment).

If you choose to pay on a monthly basis and, for example, you opt into a Subscription Plan on March 15, your first Subscription Plan Fee will be charged on that date. Thereafter, on the 15th of each month we will deduct the fee from your Card balance. If you wish to change your Subscription Plan, you may do so at any time by selecting the relevant option within the KOHO App or by contacting KOHO customer service. You may switch your Subscription Plan at any time and you will be charged the Plan Subscription Fee for the relevant Subscription Plan on the next billing date after KOHO has received your request to change. You authorize KOHO to automatically renew and charge the then current Plan Subscription Fee for your selected Subscription Plan.

Enrolling in a different tier of Subscription Plan will replace your current subscription. Benefits received in different Subscription Plans will be replaced and are not additive. For example, if you receive a 1% cash back reward from a Subscription Plan, and upgrade to a Subscription Plan to a Subscription Plan with a 2% cash back reward, the higher rate will replace the lower rate, rather than stacking.

In addition to our rights set out above, in the case of an insufficient Card balance to cover your Plan Subscription Fee on your monthly billing date, your Subscription Plan will cease immediately.

If you wish to reactivate to a higher tier of Subscription Plan, you will have to manually toggle the desired Subscription Plan from within the KOHO App. You will be permitted to activate a higher tier Subscription Plan only if you have a minimum Card balance equal to the relevant Plan Subscription Fee.

(c) KOHO Earn Interest: This section only applies to users who have opted into KOHO Earn Interest. If you have opted into KOHO Earn Interest, your Card balance is held with our referral partner Wealthsimple Investments Inc. (“Wealthsimple”). Under the referral arrangement with Wealthsimple, KOHO receives an interest rate spread on amounts that KOHO users fund to their Save account. KOHO, in turn, may apply some of the interest rate spread we receive to users' Save accounts.

Current interest rates are available on the KOHO App and may change at any time without notice. Interest rates are per year, calculated daily and paid monthly. Interest is calculated by taking your closing daily balance and multiplying it by the interest rate to user, then dividing that by 365 days. These daily portions are added together and paid to your Save account monthly. Notwithstanding, interest payments are not prorated and you will only receive interest payments if you are enrolled in KOHO Earn Interest on the monthly interest payment date.

The KOHO Save User Agreeement provided in the KOHO App sets out the applicable terms and conditions. The KOHO Save User Agreement supplements this Agreement but does not supersede, replace or otherwise amend this Agreement. Applicable fees, limits and benefits that apply to your Card will continue to apply when you opt in to KOHO Earn Interest.

4. COLLECTING AND USING YOUR PERSONAL INFORMATION

Personal Information Consent: By applying for a Card, you consent to the collection, use, disclosure and retention of your personal information by us and our service providers for purposes relating to your application for a Card and your use of a Card (if issued to you) and as otherwise described in our Privacy Policy. If you do not consent to the collection, use, disclosure and retention of your personal information, you may not apply for or use a Card. As explained in our Privacy Policy, you may withdraw your consent at any time by cancelling your Card and all related services from us by contacting KOHO customer service.

5. OTHER LEGAL REQUIREMENTS

(a) Disputes: If you believe a transaction on your Card is incorrect, you must notify us of your dispute within sixty (60) calendar days of the transaction date. Following your notification, you will need to complete and email a dispute form to the customer service team within ninety (90) calendar days of the transaction date. You can obtain a dispute form from customer service. Please note that this form must be received within ninety (90) calendar days of the date of the disputed transaction or you will have been deemed to have accepted such transaction.

If you identify an error in any transaction record, you must address such error with the applicable merchant or ATM operator. If there is any dispute in regard to purchases you make using the Card, you agree to settle such disputes with the merchant from whom the purchase was made. Please ask the merchant for any return policy that may apply to purchases made with the Card. We are not responsible for any problems you may have with any goods or services that you purchase with your Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the balance on your Card in place of cash.

If we reimburse you for a refund claim you’ve made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with the KOHO Card, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your KOHO Card. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your KOHO Card, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you.

(b) Cancellation: You may cancel this Agreement at any time by contacting KOHO customer service. We may cancel this Agreement at any time, with or without cause. Upon cancellation by you or us, you must immediately stop using your KOHO Account and destroy the Card. We will transfer any remaining balance on your Card to you within forty-five business days of cancellation, less any outstanding fees and pre-authorized payments (direct debits).

6. CARD FEES AND LIMITS

(a) Fees: The following Fees will apply to the use of your Card.

KOHO CARD FEES* KOHO Mastercard Prepaid Card
ATM Withdrawals1 Free
Foreign Exchange Transaction Fee2 1.5%
Visa Direct Load Fee per transaction (for transactions of or under $300) 75 ¢
Visa Direct Load Fee per transaction (for transactions over $300) Free

*Your financial institution may charge additional fees for the electronic funds transfer from your bank account, over which we have no control.

1Additional fees for ATM withdrawals may be charged by the ATM operator, over which we have no control.

2More information about Foreign Exchange Transaction Fee is included above in the Transaction Made in Foreign Currencies section of this Agreement.

II. TERMS OF USE FOR MOBILE PAYMENT SERVICES

This section outlines the terms & conditions that apply when you choose to add a Card to an eligible mobile payment wallet (a “Wallet”). By adding your Card to a Wallet, you are agreeing to: (i) these Terms of Use for Mobile Payment Services; and (ii) the KOHO Privacy Policy.

1. Adding your Card: Your Card may be added to an eligible Wallet by following the instructions of the Wallet provider. Your Card may be added to multiple Wallets and used on multiple mobile devices. You may not add a Card to a Wallet or use a Card in a Wallet if at any time: (i) your Card or KOHO Account is not in good standing; (ii) your Card has been cancelled or suspended; (iii) we cannot authenticate the Card in accordance with our procedures; (iv) we suspect there may be fraud in connection with your Card or use of your Card, or (v) we have suspended or terminated your Card’s eligibility for use with a Wallet.

2. Your Cardholder Agreement Terms Do Not Change: The KOHO CardHolder Agreement - Mastercard continue to apply to your Card when you add your Card to a Wallet. These Terms of Use for Mobile Payment Services are supplemental to the KOHO CardHolder Agreement - Mastercard but nothing in these terms supersedes, replaces or otherwise modifies your KOHO CardHolder Agreement - Mastercard. Applicable fees, limits and benefits that apply to your Card will continue to apply when you use a Wallet to conduct transactions with your Card.

3. Third Party Terms: Your use of your Card in a Wallet is also subject to the terms of use of the Wallet provider, third party wireless companies, and/or data service providers and other third parties who are involved in the operation of the Wallet or the provision of mobile devices or device software through which the Wallet operates, including their privacy policies in respect of their collection, use and disclosure of your personal information. None of these third party service providers are related to or controlled by us. You should review the Wallet provider and other service provider terms and conditions carefully, including to understand your obligations to the Wallet provider and other service providers, disclaimers of responsibility and limitations of liability of the Wallet provider and other service providers, restrictions on use of the Wallet, security of the Wallet and any mobile device used with the Wallet, and how your personal information will be collected and used, and how collection, use and disclosure of your information may be controlled in respect of the Wallet using a mobile device on which you store the Wallet.

4. Issuer Is Not Responsible for the Wallet: You may use any Card added to a Wallet to make purchases wherever the Wallet is accepted. Information about the Card and certain recent transactions may also be made available through a Wallet. The Wallet may not be accepted everywhere your Card is accepted. We are not a party to your agreements with the Wallet provider or any service providers, we do not provide any support or assistance for any hardware, software, or other services of a service provider related to the operation of the Wallet or a mobile device used with the Wallet. We are not responsible for the performance or non-performance of the Wallet provider or any other service provider. We are not responsible for or liable to you, for any failure of a Wallet, for security of the Wallet or your personal information stored in the Wallet or on any mobile device that you use with the Wallet. Questions regarding how to use a particular Wallet and the terms and conditions of the Wallet should be addressed to the Wallet provider.

5. Security: You agree to protect and keep confidential your User ID, passwords and all other authentication information required for your use of a Card in a Wallet. If you share these credentials with others, third parties may be able to use your Card through a Wallet and access Card information made available through the Wallet. You agree to delete your Card from the Wallet before you deliver your Mobile Device to any Mobile Device service or when you retire or discard your Mobile Device. You also agree that you are solely responsible to ensure the safety and security of your Mobile Device and you agree that you will implement reasonable security protocols to protect the Mobile Device and the Wallet from unauthorized use, including but not limited to password and/or biometric protection to restrict access to your Mobile Device, ensuring that you do not provide passwords or add biometric verifications to your Mobile Device for any person that you have not authorized to use your Wallet. You will not add your Card to a Wallet on any Mobile Device that has been compromised through “jail breaking” or any other similar alteration. You agree to notify us immediately if your Mobile Device is lost or stolen. You will be responsible for the full amount of any losses if you fail to notify us of the loss or theft of your Mobile Device. Except as expressly provided in this Agreement, the KOHO CardHolder Agreement - Mastercard, or unless prohibited by law, you are responsible and liable for all transactions conducted through the Wallet using your Card and, in any event, you will be liable for any transactions conducted by anyone using authentication codes or biometric or other verifications that grant access to, and allow use of, your Mobile Device where you store the Wallet.

6. Fees: We do not charge a fee for adding a Card to a Wallet or using your Card in a Wallet. The Wallet provider or other Service Provider(s) may charge fees in connection with your use of a Wallet, over which we have no control. Service Provider fees may form part of the transaction amount that is charged to your Card when using the Wallet and the nature and amount of those fees may be unknown to us. You agree that Service Provider fees will be charged to your Card when processing a transaction conducted using the Wallet and that you are responsible for paying such Service Provider fees. You agree that we are not responsible for identifying, disclosing or verifying Service Provider fees and that charging such fees to your Card is not a “Billing Error” as contemplated below or in the KOHO CardHolder Agreement - Mastercard.

7. Billing Errors: Some transaction details may be presented to you on your Mobile Device through your Wallet. We do not guarantee that the transaction information displayed through your Wallet will be accurate or complete. Some transactions displayed through your Wallet may be pending charges that are temporary and subject to change. When reviewing your transaction history for errors or otherwise you should review the statements or transaction history for your Card available from us.

8. Ending or Suspending Use of a Wallet: We can end or suspend your ability to use a Card in a Wallet at any time and have the right to block transactions made with a Card through a Wallet at any time. You agree to remove your Card from any Wallet as we direct, immediately upon request by us. You may remove your Card from a Wallet at any time by following the instructions provided by the Wallet provider.

III. KOHO BUNDLE PRODUCTS

A. KOHO Credit Building Bundle

This section outlines the terms & conditions that govern the credit building bundle of services extended to you by KOHO from time to time (the “KOHO Credit Building Bundle”) as set out in more detail below. By subscribing to the KOHO Credit Building Bundle through the KOHO App, you are agreeing to: (i) these KOHO Credit Building Bundle terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To subscribe for KOHO Credit Building Bundle, your KOHO Account must be in good standing which means your KOHO account must be active and you must have activated your physical card. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

2. Credit Building Bundle

The KOHO Credit Building Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for a non-refundable fee displayed in the subscription process in your KOHO (“Subscription Fee”).

The term of the KOHO Credit Building Bundle is six (6) months or such other term displayed in your KOHO App (“Subscription Term”) and includes:

  • Access to an in-house financial coach;

  • Access to our no-fee, no interest line of credit;

  • Your monthly credit score, updated each month and showing monthly progress; and

  • KOHO reporting your payment activity to a credit bureau to help build credit history.

After the expiry of your Subscription Term, this agreement will be automatically renewed for a successive term equal to your Subscription Term or such other term displayed in your KOHO App thereafter unless you notify KOHO in the KOHO App of your intention not to renew the KOHO Credit Building Bundle.

KOHO is not a credit repair or credit counseling organization or similarly regulated organization under other applicable law and does not provide credit repair services. The KOHO Credit Building Bundle is not a credit repair tool and KOHO makes no representation or promise that it will improve your credit record, credit history or credit rating or provide you with any assistance in that regard.

3. How it Works

If you meet the eligibility criteria above and you have opted-in to the KOHO Credit Building Bundle through the KOHO App, you will have access to the above-noted bundle of services. When you subscribe to the KOHO Credit Building Bundle, you will be able to select to pay the Subscription Fee either monthly or in advance for the initial Subscription Term. We will deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (PAD) – see the Pre-Authorized Debit Agreement section of this Agreement, or such other payment method as we may offer from time to time. Please refer to the terms and conditions for KOHO Credit Building for more details on the no fee, no interest line of credit.

KOHO may, in its sole discretion, suspend, amend or discontinue the KOHO Credit Building Bundle, including any individual component of the overall bundle, at any time.

B. KOHO Cover Bundle

This section outlines the terms & conditions that govern the credit building services extended to you by KOHO from time to time (the “KOHO Cover Bundle”) as set out in more detail below. By subscribing to the KOHO Cover Bundle through the KOHO App, you are agreeing to: (i) these KOHO Cover Bundle terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To subscribe for the KOHO Cover Bundle:

  • your KOHO Account must be active; and

  • you must not have failed to pay any Subscription Fee or any other amount that you have owed to KOHO.

KOHO reserves the right to add additional eligibility criteria in its sole discretion.

2. KOHO Cover Bundle

The KOHO Cover Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for a non-refundable fee disclosed in the signup process in your KOHO App (“Subscription Fee”). The term of the KOHO Cover Bundle is one (1) month or such other term displayed in your KOHO App (“Subscription Term”). On the expiration of a Subscription Term, the KOHO Cover Bundle will be automatically renewed for a successive term equal to your Subscription Term or such other term displayed in your KOHO App thereafter unless you notify KOHO in the KOHO App of your intention not to renew the KOHO Cover Bundle. The KOHOCover Bundle includes:

  • Access to an in-house financial coach; and

  • Ability to opt in to KOHO Cover.

3. How it Works

If you meet the eligibility criteria above and you have opted-in to the KOHO Cover Bundle through the KOHO App, you will have access to the above-noted bundle of services. When you subscribe to the KOHO Cover Bundle, we will automatically deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (PAD) – see the Pre-Authorized Debit Agreement section of this Agreement, or such other payment method as we may offer from time to time. Please refer to the terms and conditions for KOHO Cover for more details on the credit extended to you.

KOHO may, in its sole discretion, suspend, amend or discontinue the KOHO Cover Bundle, including any individual component of the overall bundle, at any time.

C. KOHO Flexible Credit Building Bundle

This section outlines the terms & conditions that govern a bundle of services extended to you by KOHO (the “KOHO Flexible Credit Building Bundle”) as set out in more detail below. By subscribing to the KOHO Flexible Credit Building Bundle through the KOHO App, you are agreeing to: (i) these KOHO Flexible Credit Building Bundle terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To access the KOHO Flexible Credit Building Bundle, your KOHO Account must be in good standing which means your KOHO Account must be active. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

2. KOHO Flexible Credit Building Bundle

The KOHO Flexible Credit Building Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for a non-refundable fee displayed in the subscription process in your KOHO App (“Subscription Fee”).The term of the KOHO Flexible Credit Building Bundle can be monthly, annually or such other term displayed in your KOHO App (“Subscription Term”) and includes:

  • Access to an in-house financial coach;

  • Access to our no-fee, no interest flexible line of credit;

  • Your monthly credit score, updated each month and showing monthly progress; and

  • KOHO reporting your payment activity to a credit bureau to help build credit history.

After the expiry of your Subscription Term, this agreement will be automatically renewed for a successive term equal to your Subscription Term or such other term displayed in your KOHO App thereafter unless you notify KOHO in the KOHO App of your intention not to renew the KOHO Flexible Credit Building Bundle.

KOHO is not a credit repair or credit counseling organization or similarly regulated organization under other applicable law and does not provide credit repair services. The KOHO Flexible Credit Building Bundle is not a credit repair tool and KOHO makes no representation or promise that it will improve your credit record, credit history or credit rating or provide you with any assistance in that regard.

3. How it Works

If you meet the eligibility criteria above and you have opted-in to the KOHO Flexible Credit Building Bundle through the KOHO App, you will have access to the above-noted bundle of services. When you subscribe to the KOHO Flexible Credit Building Bundle, you must pay the Subscription Fee either monthly or annually for the initial Subscription Term. We will deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (PAD) – see the Pre-Authorized Debit Agreement section of this Agreement, or such other payment method as we may offer from time to time. Please refer to the terms and conditions for KOHO Flexible Credit Building line of credit for more details on the no fee, no interest flexible line of credit.

KOHO may, in its sole discretion, suspend, amend or discontinue the KOHO Flexible Credit Building Bundle, including any individual component of the overall bundle, at any time.

IV. KOHO LENDING PRODUCTS

A. KOHO Credit Building

This section outlines the terms & conditions that govern the KOHO no-fee, no-interest line of credit (“KOHO Credit Building”) extended to you by KOHO. By requesting KOHO Credit Building through the KOHO App, you are agreeing to: (i) these KOHO Credit Building terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To access KOHO Credit Building, your KOHO Account must be in good standing which means your KOHO Account must be active, you must have activated your physical card and you must have subscribed to the KOHO Credit Building Bundle. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

Failure to repay a KOHO Credit Building line of credit will automatically make you ineligible for future KOHO lines of credit. KOHO will obtain your credit score to display to you within the KOHO App and will report to a credit bureau(s) in connection with KOHO Credit Building. By signing up for KOHO Credit Building, you consent to KOHO obtaining your credit score and credit report solely for the purposes of this product and to report to a credit bureau(s).

2. Line of Credit

KOHO Credit Building is a no-fee, no-interest line of credit. The terms of the KOHO Credit Building line of credit are set out below:

KOHO Credit Building
Credit Limit: $225, or such other credit limit extended in our sole discretion
Interest: 0%
Non-Interest Charges: None
Minimum Payment: (a) If the full outstanding balance amount is equal to or is less than $67.50, the minimum payment amount equals the full outstanding balance amount; or
(b) If the full outstanding balance amount is greater than $67.50, the minimum payment amount equals $67.50.
Payment Due Date: 30 days following a drawdown and then every 30 days while there is an outstanding balance
NSF Fee: $0
Statements: Information about your Line of Credit and repayments will be made available in your monthly statement, accessible in the KOHO App.

To obtain information about your KOHO Account or your line of credit, please contact KOHO customer service. Fees are subject to change – see “Amendments” under the General Terms That Apply To All KOHO Products And Services section below.

3. How it Works

If you meet the eligibility criteria above and you have opted-in to KOHO Credit Building through the KOHO App, you will be issued a KOHO Credit Building line of credit in the amount of $225 or such other credit limit extended in our sole discretion.You are able to draw down on your KOHO Credit Building line of credit directly from the KOHO App. If you draw down on your KOHO Line of Credit it may take up to three (3) days for funds to appear in your KOHO Account.

Non-payment of any outstanding balances owed will negatively impact your credit score.

KOHO does not guarantee that your credit score will increase solely by maintaining a KOHO Credit Building line of credit. Credit scores are generated by combining a number of factors. Maintaining available credit the outstanding balance, available credit, carrying a low balance on your KOHO Line of Credit and making payments made on to your KOHO Line of Credit are examples of such inputs.

B. KOHO Instant Pay

This section outlines the terms & conditions that govern the KOHO Instant Pay no-fee, no-interest line of credit facility (“KOHO Instant Pay”) extended to you by KOHO. By requesting KOHO Instant Pay through KOHO, you are agreeing to: (i) these KOHO Instant Pay terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility:

To access KOHO Instant Pay, you must be in good standing with KOHO which means:

  • you must sign-up for a KOHO Account;

  • your KOHO Account must be active; and

  • you must (i) have direct deposit set up on your KOHO Account (an automatic deposit of payroll or government benefits), evidenced by having had at least one direct deposit into your KOHO Account, or (ii) link an external bank account to your KOHO Account (an “External Account”).

Failure to repay any payment due on your KOHO Instant Pay will automatically make you ineligible for future participation in the KOHO Instant Pay program.

KOHO will not obtain your credit score or credit report or report to any credit bureau in connection with signing up for a KOHO Account or KOHO Instant Pay without your consent.

By signing up for KOHO Instant Pay, you consent to KOHO collecting and using information from your payroll provider, employer or other related organization for the limited purpose of offering this program. If your payroll provider, employer or other related organization is unable to disclose your information to us, you may be unable to participate in the KOHO Instant Pay program.

2. Line of Credit:

KOHO Instant Pay is a no-fee, no-interest line of credit. The terms of KOHO Instant Pay are set out below:

KOHO Instant Pay Limit: You can see your credit limit in your monthly statement, accessible in the KOHO App
Interest: 0%
Non-Interest Charges: None
Minimum Payment: Total amount of any outstanding Instant Pay Advance(s) on the Payment Due Date
Payment Due Date: The date of your next direct deposit
NSF Fee: $0
Statements: Information about your KOHO Instant Pay and repayments will be made available in your monthly statement, accessible in the KOHO App

To obtain information about your account or your line of credit, please contact KOHO customer service.

3. How it Works

If you meet the eligibility criteria above and you have opted in to KOHO Instant Pay through the KOHO App, you can request an advance on your KOHO Instant Pay line of credit at any time (an “Instant Pay Advance”) up to your KOHO Instant Pay credit limit. Each Instant Pay Advance request may be for a set amount based on your current gross earned wages (your “Earnings”), as follows:

  • up to 50% of Earnings if you have direct deposit set up. For example, if you have $100 in Earnings, you can request an Instant Pay Advance of up to $50 to be immediately credited into your KOHO Account.

  • up to 30% of Earnings if you’ve linked an external bank account. For example, if you have $100 in Earnings, you can request an Instant Pay Advance of up to $30 to be immediately credited into your KOHO Account.

At your request, and for immediate access, we will transfer your Instant Pay Advance to another Canadian bank account for a $3.50 service fee or to your KOHO Account for a $2 service fee. Alternatively, you can still have access to your Instant Pay Advance for free on the next business day. Fees are subject to change – see “Amendments” under the General Terms That Apply To All KOHO Products And Services section below.

Your Earnings information and KOHO Instant Pay credit limit will be displayed in the KOHO App. KOHO receives the Earnings information directly from your employer or a related party, who is solely responsible for its accuracy and the timeliness of transmission for the purposes of enabling your access.

C. KOHO Cover

This section outlines the terms and conditions that govern the KOHO Cover service (“Cover”) which is an open credit facility extended to you by KOHO for use with your KOHO Account. By requesting access to Cover through the KOHO App, you are agreeing to: (i) these KOHO Cover terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To access KOHO Cover, you must have an active KOHO Account and you must have subscribed to the KOHO Cover Bundle. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

Failure to repay any KOHO Cover Advance will automatically make you ineligible for future access to KOHO Cover. KOHO may obtain your credit score or credit report and report to a credit bureau(s) in connection with providing KOHO Cover.

2. How it works

If you meet the eligibility criteria above and you have opted in to KOHO Cover through the KOHO App, you will be issued a line of credit in the amount shown in the KOHO App (a “KOHO Cover Advance”).

You may cancel your enrolment in KOHO Cover at any time through the KOHO App. Upon cancellation, no further KOHO Cover Advances will be extended and any outstanding KOHO Cover Advance(s) will be due on the next Payment Due Date. You may only request and receive one KOHO Cover Advance at any time.

3. Cost of Credit

There are no fees and no interest payable on any KOHO Cover Advance. The terms of each KOHO Cover Advance are set out below:

KOHO Cover Advance Credit Limit: You can see your credit limit in your monthly statement, accessible in the KOHO App
Interest: 0%
Non-Interest Charges: None
Minimum Payment: None, unless enrolment in KOHO Cover or the KOHO Cover Bundle has been canceled or a KOHO Cover Bundle Subscription Fee payment has been missed (a “Termination Event”), in which case the full amount of the KOHO Cover Advance will be due immediately.
Payment Due Date: Immediately upon a Termination Event
NSF Fee: $0
Statements: Information about your KOHO Cover Advance repayments will be made available in your monthly statement, accessible in the KOHO App

To obtain information about your KOHO Account or KOHO Cover, please contact KOHO customer service. Fees are subject to change – see “Amendments” under the General Terms That Apply To All KOHO Products And Services section below.

D. KOHO Flexible Credit Building

This section outlines the terms & conditions that govern the KOHO no-fee, no-interest flexible line of credit (“KOHO Flexible Credit Building”) extended to you by KOHO. By requesting KOHO Flexible Credit Building through the KOHO App, you are agreeing to: (i) these KOHO Flexible Credit Building terms and conditions; (ii) the KOHO Privacy Policy; (iii) the Pre-Authorized Debit Agreement set out below; and (iv) the General Terms that Apply to all KOHO Products and Services set out below, and all of these together are your “Agreement” with us.

1. Eligibility

To access KOHO Flexible Credit Building, your KOHO Account must be in good standing which means your KOHO Account must be active, and you must have subscribed to the KOHO Flexible Credit Building Bundle. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

Failure to repay a KOHO Flexible Credit Building line of credit will automatically make you ineligible for future KOHO lines of credit. KOHO will obtain your credit score to display to you within the KOHO app and will report to a credit bureau(s) in connection with the line of credit. By signing up for the KOHO Flexible Credit Building line of credit, you consent to KOHO obtaining your credit score and credit report solely for the purposes of this product and to report to a credit bureau(s).

2. Line of Credit

KOHO Flexible Credit Building is a no-fee, no-interest line of credit. The terms of the KOHO Flexible Credit Building line of credit are set out below:

KOHO Flexible Credit Building Credit Limit: An amount equal to the Security Funds (as defined below)
Interest: 0%
Non-Interest Charges: None
Minimum Monthly Payment: Lesser of $10 or the outstanding balance
Line of Credit Payment Due Date: 30 days following your first draw on the line of credit and every 30 days thereafter while there is an outstanding balance
NSF Fee: $0
Statements: Information about your line of credit and repayments will be made available in the KOHO App.

To obtain information about your KOHO Account or your line of credit, please contact KOHO customer service. Fees are subject to change – see “Amendments” under the General Terms That Apply To All KOHO Products And Services section.

3. How it Works

If you meet the eligibility criteria above and you have opted-in to the KOHO Flexible Credit Building through the KOHO App, you will be asked to deposit funds, in an amount between $50 and $500, or such other amount of funds accepted for deposit in our sole discretion, which will be held as collateral for your payment obligations hereunder (“Security Funds”). You will be issued a line of credit in an amount equal to the Security Funds. You are able to draw down on your line of credit directly from the KOHO App.

Non-payment of any outstanding balances owed may negatively impact your credit score.

KOHO does not guarantee that your credit score will increase solely by maintaining a KOHO Flexible Credit Building line of credit. Credit scores are generated by combining a number of factors. Maintaining available credit, the outstanding balance, carrying a low balance on your KOHO line of credit and making timely payments on your line of credit are examples of such factors.

4. Security Funds

The Security Funds are not insured by the Canada Deposit Insurance Corporation and will be held in an account at a depository institution we select.

The Security Funds may be used to offset any obligations, indebtedness or liabilities you incur under or relating to this Agreement (“Obligations”) (and effect compensation in respect of the Obligations, if you are a resident of the province of Quebec). You have no right to access or withdraw the Security Funds, except as described below.

Any interest earned on the Security Funds will be retained by KOHO and become our sole property.

Application of Security Funds. Upon a default event (as described in Section VI.5, a “Default Event”), the termination of this Agreement, or the cancellation or suspension of your KOHO Account, without limiting any other rights we have under law or this Agreement, we may withdraw and set off (and effect compensation, if you’re a resident of the province of Quebec) all or part of the Security Funds against your Obligations (whether or not then immediately due and payable) without prior notice or demand for payment. Any Security Funds that we withdraw and set off against your Obligations pursuant to this Agreement will reduce your Obligations but will not be considered a payment on your Card Account, including for credit reporting purposes, or for purposes of determining whether a Default Event has occurred and is continuing. You are responsible for any Obligation remaining after Security Funds have been applied, and we may report (or continue to report) your Account as delinquent.

Withdrawing of the Security Funds is in our sole discretion.

5. Pledge and Security Interest/Hypothec

In consideration for the issuance of your line of credit, you agree that:

As collateral security for the prompt payment and performance of your Obligations, you hereby pledge, hypothecate (in case of a hypothec without possession, for an amount equal to the Security Funds) and grant to KOHO a security interest in and over the Security Funds provided by you to us as collateral for payment of your Obligations (such pledge, hypothec and security interest, the “Collateral Security”). This Collateral Security applies regardless of when Security Funds are provided to KOHO, and this Collateral Security may be an express condition for your Card Account. You agree to take any actions we request to evidence, perfect, render opposable to third parties or protect the first ranking security/lien position of our Collateral Security in the Security Funds. If you are a resident of the province of Quebec, you also agree that (i) all Security Funds shall secure the prompt payment and performance of your Obligations, and that (ii) should we make a recording at the applicable register of a hypothec without possession in and over the Security Funds in our favour, that does not mean that we do not also hold a pledge (hypothec with possession) in and over the Security Funds for an unlimited amount as security for the prompt payment and performance of your Obligations.

Legal Proceedings. You represent that there are no lawsuits or bankruptcy proceedings that might affect our Collateral Security in the Security Funds. You have not and will not attempt to pledge, hypothecate, grant or transfer an interest in the Security Funds to any person other than KOHO.

Release of Collateral Security. We will not discharge or release our Collateral Security in the Security Funds until all Obligations have been satisfied and performed, and we are not obligated to advance any further funds or credit to you.

Attachment; No Obligation to Advance. You confirm that value has been given by KOHO to you, that you have rights in the Security Funds at the date of this Agreement and that you and KOHO have not agreed to postpone the time for attachment of our Collateral Security to any of the Security Funds. Our Collateral Security shall have effect and be deemed to be effective whether or not the Obligations or any part thereof are owing or in existence before or after or upon the date of this Agreement. Neither the acceptance of this Agreement, including the Collateral Security granted under this Agreement, nor the provision of any financial accommodation by us shall oblige us to make any further financial accommodation available to you or any other person.

You agree that our Collateral Security in and over the Security Funds is in addition to, and not in substitution of and does not replace, the set-off and compensation rights that you have granted to us in respect of the Security Funds or that we may otherwise have by virtue of law.

V. PRE-AUTHORIZED DEBIT AGREEMENT

By requesting KOHO Credit Building, KOHO Instant Pay, KOHO Cover or KOHO Flexible Credit Building (each, a “KOHO Credit Product”), you promise to repay us the Minimum Payment on each Payment Due Date or an earlier date should you wish to do so. Repayment will be made by charge to your KOHO Account, by pre-authorized debit (PAD) to your KOHO Account or PAD to your linked external bank account on each Payment Due Date with the effective date of the PAD authorization being the date at which you opt into your KOHO Credit Product. You are entitled to prepay the full outstanding balance of your KOHO Credit Product at any time without any prepayment charge or penalty. If your KOHO Account does not hold sufficient funds to pay the Minimum Payment on the Payment Due Date and we are otherwise unable to recover the Minimum Payment (for example, from a linked external bank account), we may charge you the balance of your KOHO Account and collect the remainder of the amount owing from you.

By requesting KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle Subscription, you promise to pay us the Subscription Fee as a charge against the balance of your KOHO Account or by PAD to your KOHO Account or linked external bank account with the effective date of the PAD authorization being the date at which you opt into the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle.You authorize KOHO to debit your KOHO Account monthly for the Subscription Fee, beginning one month following the date on which you opted-in to the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle, continuing until the expiry of the Subscription Term. You authorize PADs in this manner each time you re-subscribe to the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle.Any Subscription Fee paid is non-refundable.If your KOHO Account does not hold sufficient funds to pay the Subscription Fee on the Payment Due Date and we are otherwise unable to recover the Subscription Fee (for example, from a linked external bank account), we may charge you the balance of your KOHO Account and collect the remainder of the amount owing from you.

This is a personal PAD. If any payment date falls on a weekend or statutory holiday, such amount will be debited by KOHO on the next business day.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account or linked external bank account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account or linked external bank account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to your KOHO Credit Product/Credit Building Product or to your KOHO Account or linked external bank account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any KOHO Credit Product at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. To more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO customer service.

VI. GENERAL TERMS THAT APPLY TO ALL KOHO PRODUCTS AND SERVICES

1. Transaction Details

All Card transactions, any advance that is extended on your KOHO Account, and the details of your repayments, will be reflected in the KOHO App. If you notice an item in error and wish to dispute it, you must inform KOHO customer service within 90 days of the date that the item was first posted to the KOHO App. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

2. Communications and Notifications

KOHO will communicate with you by way of the KOHO App. In addition to this method of communication, KOHO may contact you and provide notices via email. When we use email, we will send you electronic correspondence, including notifications, to the email address you provide to us through the KOHO App on sign-up. It is your responsibility to keep your email address up to date. You understand that if you do not keep your email address up to date, we may not be able to complete the sign-up process or otherwise contact you.

3. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including any part, feature, eligibility criteria or any of the other terms and conditions relating to any KOHO Credit Product or other KOHO products and services without notice.

We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website and/or KOHO App. You are responsible for informing us of any change in your mailing or email address, by contacting KOHO customer service and for checking koho.ca and/or the KOHO App, on at least a monthly basis, for such notifications or updates to this Agreement.

If you use your KOHO Account, make a repayment on a KOHO Credit Product or request a new advance on a KOHO Credit Product after we have made a change to this Agreement and given you any required notice, you will be considered to have agreed to the change.

In our efforts to continuously improve KOHO products and services, from time to time, KOHO may offer limited pilots or campaigns in order to solicit feedback on any brand, design, feature, content, or current or potential product and service. The terms and conditions for any pilot or campaign may be different from the terms and conditions of this Agreement. Notice of any different terms and conditions will be disclosed through the pilot or campaign notification or as required by law.

4. Termination and Suspension

You may terminate any KOHO product or service, or this entire Agreement, or the ability for us to withdraw your funds by way of PAD at any time, by contacting KOHO customer service. We may terminate all or part of this Agreement or any KOHO product or service at any time. If this Agreement is terminated by you or by KOHO, you must immediately repay the outstanding amount that you owe us and follow the Card cancellation procedures set out in the KOHO CardHolder Agreement - Mastercard.

We may also terminate, suspend or limit usage on your Card or KOHO Account, or any other KOHO product or service at our sole discretion.

5. Default

You will be in default under this Agreement in respect of a KOHO Credit Product or KOHO Credit Building Product if you:

  • fail to pay a Minimum Payment on a Payment Due Date or fail to pay a Subscription Fee, your payment is returned to us or dishonoured, or if we believe for any reason that you that you will be unable to pay a Minimum Payment or Subscription Fee,

  • cancel or revoke the PAD authorization set out in Section V without a replacement authorization,

  • close your KOHO Account or are in default under Section I KOHO CardHolder Agreement - Mastercard,

  • have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party, or

  • die.

If you are in default for any of the above reasons, we may, in our discretion:

  • charge you a non-sufficient funds (NSF) fee,

  • request that you immediately repay any outstanding amount that you owe to us,

  • suspend or terminate current or future access to your KOHO Credit Product or KOHO Credit Building Product or any other services that KOHO may make available from time to time, and/or

  • suspend or terminate your KOHO Account.

6. Limitation of Liability

This section is not applicable to Quebec consumers.

To the fullest extent permitted by applicable laws, KOHO will not under anycircumstances be liable to you or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to any KOHO product or service, or in respect of our provision of KOHO products or services or our suspension or termination of a KOHO product or service.

WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.

By opting into the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle, you agree that the use of the financial coaching service does not constitute financial or investment advice and should not be interpreted as such. The information received through the financial coach should be reviewed by an independent financial or investment professional. You are solely responsible for your own financial and investment research and decisions and KOHO will not be responsible for any loss or damage you may incur as a result of your use of the financial coaching service or any other service that KOHO may make available in the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle.

KOHO does not guarantee that your credit score will increase solely by accessing the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle. Credit scores are generated by combining a number of factors and the KOHO Credit Building Bundle, KOHO Cover Bundle or KOHO Flexible Credit Building Bundle is one such input.

7. No Warranty of Availability or Uninterrupted Use

From time to time, the KOHO App or KOHO Card or Account services may be inoperative, and when this happens, you may be unable to use your KOHO Card or KOHO Account, including making purchases, obtaining information about the balance on your Card or requesting an advance. Please notify KOHO customer service if you have any problems using your KOHO Card or KOHO Account. You agree that we are not responsible for any interruption of service.

8. Governing Law

Unless you are a Quebec consumer, this Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties.

9. No Waiver

No consent or waiver by either party to, or of any breach or default by, the other party in its performance of its obligations under this Agreement will be deemed or construed to be a consent to, or a waiver of, a continuing breach or default or any other breach or default of those or any other obligations of that party. No consent or waiver will be effective unless in writing.

10. Severability

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

11. Assignment

You may not assign any of your rights or obligations under this Agreement. We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

12. Entire Agreement

This Agreement sets forth the entire understanding and Agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or Agreements with respect to such subject matter.

13. Miscellaneous

The Card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated.

Mastercard® is a registered trademark of Mastercard International Incorporated. All other trademarks and service marks belong to their respective owners.

Agreements updated March 15, 2023.

Customer Complaint Policy

Step 1) Contact our User Success Team

If you have a complaint, KOHO can help you resolve it. In order to resolve your complaint as accurately and efficiently as possible, we ask that you have any supporting documents or information that might be relevant to your complaint, prior to reaching out.

You may contact our User Success team at support@koho.ca

Please do not use this process for any law enforcement or court related proceedings.Any such inquiries should be directed to our team at fraud@koho.ca

Step 2) Escalate your complaint to a Tier II User Success Agent

Our knowledgeable Tier I User Success team is always your first point of contact and are often able to address your concerns and arrive at a resolution. In situations where you don’t feel satisfied with the response you’ve received, please let the Tier I User Success Agent know and you’ll be referred to a Tier II User Success Agent or you may contact our Tier II User Success team at complaints@koho.ca

Step 3) Escalate your complaint to a User Success Team Lead or Manager

If you aren’t satisfied with the resolution offered by the Tier II User Success Agent, please let them know. Your complaint will then be sent to a User Success Team Lead.

The User Success Team Lead will perform an investigation and reach out to you with a review of the case and their recommendations.

Step 4) Escalate your complaint to the Head of our User Success Team

If your complaint has not been resolved, it may be escalated to the Head of our User Success Team. The Head of our User Success Team is the most senior designated officer appointed to address escalated complaints within KOHO. This is the final point of escalation to address your complaint.

We aim to resolve or close complaints within 56 days from when you first communicated the complaint to us.

Updated April 1, 2023

Terms of Service

  • By accessing koho.cawhatthefee.ca or the KOHO mobile application (collectively with all subpages and successor pages, the “Site”), you acknowledge these terms and conditions of use and agree to be contractually bound by them. If you do not agree to these terms, please discontinue accessing the Site immediately.

  • We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time without further notice and you agree to be bound by such modifications, alterations or updates, which shall be effective immediately upon being posted on the Site. Please check these terms and conditions periodically for any changes. Your continued use of the Site following posting of the changes will indicate your acceptance of such modified terms and conditions.

  • The content of the Site is published by KOHO Financial Inc. (“KOHO”), a Canadian corporation.

  • The Site is only intended to provide you with general information and is neither an offer to sell nor a solicitation of an offer.

  • Information on the Site is not intended to provide legal, accounting, financial or tax advice or other professional advice, and should not be relied upon in that regard.

  • Except to the extent prohibited by law (such as for exclusions of implied warranties if you are a consumer under the meaning of the Quebec Consumer Protection Act who is a resident of Quebec (“Quebec Consumer”), the Site is provided on an “as is” and “as available” basis, without any representations, warranties or conditions of any kind, whether expressed or implied, and including without limitation implied representations, warranties or conditions of title, non-infringement, merchantability, fitness for a particular purpose, performance, durability, availability, timeliness, accuracy, reliability or completeness, all of which are hereby disclaimed by KOHO to the fullest extent permitted by applicable law.

  • Every effort has been made to ensure that the material contained on the Site is accurate at the time of publication, but you expressly agree that use of the Site is at your sole risk and that it is your responsibility to evaluate the accuracy, completeness and usefulness of all information provided through the Site.

  • To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a Quebec Consumer) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of use of, or inability to use, or any reliance on, the Site, any of its content or links (including without limitation any inaccuracies or viruses), or any web browser or other equipment or as a result of any unauthorized access to the Site or any data breach involving the Site.

  • Your use of the Site will be in compliance with all applicable laws. You will not: Use the Site for illegal purposes; Intentionally interfere with or damage the operation of the Site or any other users’ enjoyment of it, by any means, including uploading or otherwise disseminating viruses, spyware, worms or other malicious code or file with contaminating or destructive features.

  • By accessing the Site, you agree to indemnify and hold harmless KOHO, suppliers and their respective directors, officers and employees from and against any and all actions, proceedings, costs, claims, liabilities, damages and expenses (including reasonable legal fees) arising from or in connection with a breach of these terms and conditions or the use or misuse of the Site.

  • The contents of the Site are protected by applicable copyright and trademark laws. Unauthorized use or exploitation of such content is strictly prohibited including without limitation, unauthorized downloading, retransmission, storage in any medium, copying, redistribution, reproduction, or republication of the Site, or any part thereof, for any purpose.

  • Other sites accessed by hypertext appearing in the Site may have been independently developed by parties other than KOHO. KOHO does not guarantee the accuracy, integrity or quality of information contained in such other sites. Your use of such other sites is subject to the terms and conditions of use and the privacy policies contained within such other sites.

  • Links to other sites are provided for your convenience only. KOHO does not control such other sites and is not responsible or liable in any way for their content. KOHO’s inclusion of links to such other sites should not be taken as KOHO’s endorsement or approval of such other sites, their content, the third parties named therein, or their products and services, nor is any liability assumed for incompatibility, non-suitability, viral infection or other destructive/disruptive components on or from such other sites.

  • KOHO may provide you with marketing or promotional materials through the Site.

  • KOHO may have arrangements in place in connection with any such marketing or promotional materials where we may be entitled to receive a referral or other fees from third parties. Please refer to KOHO’s privacy policy for more information on our use and protection of your personal information.

  • Links to the Site without the express written permission of KOHO are strictly prohibited. To request permission, please contact support@koho.ca. The framing, mirroring, scraping or data-mining of the Site or any of its content in any form and by any method is strictly prohibited.

  • KOHO cannot guarantee complete confidentiality or security for information that is transmitted electronically. By accessing the Site, you acknowledge that KOHO is not responsible for any damages or losses you may suffer as a result of your electronic transmission of confidential or sensitive information to us. Please refer to KOHO’s privacy policy for more information.

  • No consent or waiver by either party to, or of any breach or default by, the other party in its performance of its obligations under these terms and conditions of use will be deemed or construed to be a consent to, or a waiver of, a continuing breach or default or any other breach or default of those or any other obligations of that party. No consent or waiver will be effective unless in writing.

  • If any provision of these terms and conditions or part thereof is found by a court of competent jurisdiction to be unlawful, void, or for any reason unenforceable, then that provision or part thereof shall be deemed to be severed from the rest of these terms and conditions and shall not affect the validity and enforceability of any remaining provisions.

  • These terms and conditions are governed by the laws of the province of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. By accessing the Site you hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to the Site, these terms and conditions of use or any related matters.

  • For Quebec Consumers Only: The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the law of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties.

  • KOHO is a trademark of KOHO Financial Inc. All product and company names are trademarks or registered trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. Any product names, logos, brands, and other trademarks or images featured or referred to within the KOHO website are the property of their respective trademark holders.

KOHO Non-Reloadable Visa* Prepaid Card Cardholder Agreement

Please read this Agreement carefully and retain a copy for your records.

The following terms and conditions apply to your use of the KOHO Non-Reloadable Visa Prepaid Card.

By purchasing, activating, signing and/or using the Card, you are agreeing to these terms and conditions and fees outlined below.

Information disclosure summary (detailed terms and conditions will follow):

Card issuer: This card is issued by Peoples Trust Company pursuant to licence from Visa International Incorporated.

Card information and balance: For up-to-date Card terms and conditions, to obtain the expiry date of your Card, if you have questions regarding the Card Balance, or to log a complaint, you may call customer service at 1-855-564-6999  or visit www.koho.ca for free. 

Card restrictions: 

  • The Card is not returnable.
    • The Card is not refundable.
    • You cannot reload the Card with more funds.
  • Use of the Card in certain countries may be restricted by law.
  • Regular pre-authorized debit (PAD) transactions, where you authorize a company or organization to withdraw funds from the Card, are not permitted. All PAD transactions will be rejected and Peoples Trust Company will not be liable for any costs incurred by you as a result.
  • The Card use may be restricted by some online merchants.
  • The Card cannot be used for pay-at-the-pump transactions.
  • You cannot make cash withdrawals from the Card.
  • You may not use your Card to commit or facilitate illegal activity.
  • The Card is not eligible for protection under any Zero Liability policy (https://www.visa.ca/en_CA/pay-with-visa/security.html).
  • The Card is subject to maximum transaction limits, as set out below. Peoples Trust Company may change these limits in accordance with Applicable Law and will post notice on www.koho.ca at least thirty (30) days in advance of the date such change is to come into effect. The change will take effect on the date indicated in the notice. Your continued use of the Card, after the change to the limits has come into effect, will be taken as your acceptance of that change.
Limits
Maximum Card Balance $80.00
Maximum daily spend at point-of-sale $80.00
Maximum number of point-of-sale- transactions / day 15

Please also note: The Card may be deactivated at any time if fraud, related to the Card or use of the Card, is suspected.

Card expiry and access to funds: Your right to use the funds loaded on the Card does not expire. If funds remain on the Card after the expiry date, contact customer service for directions on how to receive a replacement Card. 

Fees: The table below sets out the fees that may be imposed upon the Card. You acknowledge being advised of the fees and agree to pay all fees charged under this Agreement.

Fees
Activation Fee $5.95
Foreign exchange charge 1.5%
Funds loaded onto the Card are not insured by the Canada Deposit Insurance Corporation (CDIC).

Lost or stolen Card: You must take all reasonable steps to protect the Card against loss, theft, or unauthorized use. If the Card has been lost or stolen, or if you have reason to believe that someone has made an unauthorized transaction with the Card, or may attempt to use the Card without your permission, you must call customer service immediately at 1-855-564-6999.All transactions carried out on the Card before you notify us will be considered to have been made by you.

Split tender transactions: If the Balance on the Card is insufficient to cover the full Transaction Amount, you may request the merchant to conduct a split tender transaction, which is where you use the Card as partial payment of the Transaction Amount and then pay the remainder of the amount with another form of payment (e.g. cash, cheque, credit or debit). If you fail to inform the merchant that you would like to complete a split tender transaction prior to swiping the Card, the Card may be declined. Some merchants may require payment for the remaining Balance in cash. Merchants do not have to and may not agree to accept split tender transactions.

Key Cardholder Responsibilities under this Agreement:

  • You must take all reasonable steps to protect the Card against loss, theft, or unauthorized use. If you lose the Card, you must call customer service immediately.
  • You must activate and/or sign the Card as instructed upon receipt of the Card.
  • You must surrender the Card to us immediately upon request by us.
  • You must ensure that there is a sufficient Balance on the Card to cover the full amount of transactions made with the Card.
  • The Card use may be restricted by some online merchants.
  • If you find an error in any transaction record, you must communicate the error to the merchant with whom you made the transaction.
  • If you wish to dispute a transaction on your Card, you must notify us in writing of your dispute within sixty (60) days of the transaction date.
  • You must only use our online resources as set out in ‘Website and Availability’, below.

 

Detailed Terms and Conditions: 

Definitions:

  • ‘Agreement’ means this KOHO Non-Reloadable Visa Prepaid Card Cardholder Agreement between Peoples Trust Company and the Cardholder and all documents that are expressly referred to herein, which govern your use of the KOHO Non-Reloadable Visa Prepaid Card.
  • ‘Amendment’ refers to any change to a term or condition of this Agreement or to the addition of a new term or condition.
  • ‘Applicable Law’ means the Trust and Loan Companies Act (Canada), the Personal Information Protection and Electronic Documents Act (Canada), the Act Respecting the Protection of Personal Information in the Private Sector (Québec), the Consumer Protection Act (Québec), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), PCI DSS or any other statute, regulation or operating rule of any Governmental Authority or any other regulatory authority that Peoples Trust Company and the Program Sponsor are subject to, or any bylaw, operating rule or regulation of Visa.
  • ‘Balance’ means the amount of the funds that are loaded onto the Card.
  • ‘Card’ refers to the KOHO Non-Reloadable Visa Prepaid Card purchased, activated, received or used by the Cardholder.
  • ‘Cardholder’ means you or any other individual who has purchased, received, activated or used the Card.
  • ‘Distributor’ means each distribution agent and/or retail outlet which offers the Cards for sale to consumers. A Distributor is not an agent, mandatary or representative of Peoples Trust Company.
  • ‘Foreign exchange charge’ means the foreign exchange service charge of 1.5%.
  • ‘Governmental Authority’ means any federal, provincial, territorial, regional, municipal or local governmental authority, quasi-governmental authority (including the Office of the Superintendent of Financial Institutions), government organization, commission, board, professional agency, tribunal, organization, or any regulatory, administrative or other agency, or any political or other subdivision, department, or branch of any of the foregoing, in each case to the extent it has jurisdiction over Peoples Trust Company and/or the Program Sponsor or any Person, property, transaction, activity, event or other matter related to this Agreement. The above definition is deemed to include any interim or permanent transferee or successor of a Government Authority’s underlying mandate, function or activity.
  • ‘PCI DSS’ means a multifaceted security standard defined by Payment Card Industry Security Standards Council and includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures.
  • ‘Transaction Amount’ is the amount that is debited from the Balance in connection with the Cardholder’s use of the Card to purchase goods or services, which includes the amount of the Balance to be transferred, the Card service charges and the taxes imposed to complete the transaction. 
  • ‘Visa’ means Visa International Incorporated, and its successors and assigns.
  • ‘Visa Conversion Rate’ means the rate that we pay to Visa to convert foreign currency to Canadian currency plus the Foreign exchange charge.
  • ‘we’, ‘us’, and ‘our’ mean Peoples Trust Company, and our successors, subsidiaries, affiliates or assignees. 
  • ‘Website’ means www.koho.ca.
  • ‘you’, ‘your’, and ‘yours’ each mean the Cardholder.

 Acceptance: This Agreement constitutes a binding agreement between you and us with respect to the terms of use of the Card.

The Visa Prepaid Card: The Card is a Visa Prepaid Card that can be used anywhere that Visa is accepted. The Card use may be restricted by some online merchants. Activating the Card: The Card has no value until it is activated by the cashier at the time of purchase, and signed by you on the back, where indicated. Upon activation, and dependent on the value of the Card you purchase, you will be charged a one-time activation fee in the amount set out in the table marked ‘Fees’ in the Information Disclosure Summary section found at the beginning of this Agreement.

Ownership and Use of the Card: To use the Card, simply present the Card at the time of payment, and sign the receipt with the same signature you used when you signed the Card. The Card can be used to pay the full amount of the purchase and applicable taxes, so long as the Balance remaining on the Card is sufficient. The Card is, and will remain, our property. The Card is not a credit card, charge card, or debit card, and its usage will not enhance nor improve your credit rating. No interest dividends or other earnings or returns will be paid on the Card. Neither the Card nor the Balance is a deposit account. You have no right to write cheques on, or demand repayment of, the outstanding Balance on the Card, but are strictly limited to the right to use the Card, in accordance with this Agreement, as payment for goods and services from merchants who accept Visa. The Card use may be restricted by some online merchants. Use of the Card in certain countries may be restricted by law.

As you use the Card, the Card’s Balance will be reduced by the full amount of each purchase including taxes, charges and other fees, if any. We may, in our sole discretion, cancel or suspend any features or services of the Card at any time, with or without cause, with thirty (30) days’ notice to you or as otherwise required by Applicable Law.

You are solely and completely responsible for the possession, use, and control of the Card. You must surrender the Card to us immediately upon request by us. If you authorize another person to use the Card, you agree, to the extent permitted by law, that you will be liable for all transactions arising from use of the Card by such person. You should retain the receipt as a record of the transaction. 

You agree that we are not required to verify the signature on any sales draft prepared in connection with a transaction on the Card, and we may authorize and process a transaction even if the signature on the sales draft is different than the signature on the Card. You do not have the right to stop the payment of any transaction you conduct with the Card. We are not liable to you for declining authorization for any transaction, regardless of our reason. 

Some merchants (including, but not limited to, restaurants, hotels, or car rental companies) may pre-authorize the transaction amount for the purchase amount plus up to 20% (or more) above the purchase amount to ensure that there are sufficient funds available on the Card to cover any tips or incidental expenses. In such cases, your transaction will be declined if the Card Balance will not cover the transaction amount plus the additional amount.

A pre-authorization will place a ‘hold’ on an amount of your available Card funds until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the pre-authorization amount on hold in excess of that final payment amount will be released. It may take up to fifteen (15) business days for the pre-authorization hold to be removed, and timing may vary depending on the type of merchant.

During the hold period, you will not have access to the pre-authorized amount.

Information About Balance: It is your responsibility to ensure that there is a sufficient Balance on the Card to cover transactions plus any pre-authorized amounts. To obtain the current Balance amount, or the transaction history, call customer service toll-free at 1-855-564-6999 or visit the Website. The Card Balance will reflect all transactions that have been posted to our system. You are not allowed to exceed the Balance available on the Card for any transaction.

If you attempt to use the Card when there is insufficient Balance available to cover the full Transaction Amount, the transaction in most instances will be declined. However, if due to a systems malfunction or for any reason whatsoever, a transaction occurs despite insufficient Balance on the Card, creating a negative amount, you agree to reimburse us, upon request, for the amount of the Transaction Amount in excess of the Balance.

Transactions Made in Foreign Currencies: We convert transactions made in a foreign currency to Canadian dollars using the Visa Conversion Rate in effect on the day the transaction is posted to the Card. The Visa Conversion Rate in effect on the posting date may differ from the rate in effect on the date of the transaction. 

However, if a foreign currency transaction is refunded to the Card, the Visa Conversion Rate used to convert your refund to Canadian dollars for the Card is the rate that we pay to Visa minus the Foreign exchange charge. Additionally, the rate that we pay to Visa may not be the same as the rate that existed on the date the transaction was refunded. For these reasons, the amount that is credited to the Card for a refund of a foreign currency transaction will, in most cases, be less than the amount that was originally charged to the Card for that transaction.

Protection Against Loss, theft, or Unauthorized Use: If your Card is lost or stolen, you will be asked to provide us with your name, the Card number, the expiry date, and the original Card value and transaction history. We cannot re-issue a Card if you do not have your Card number. If you lose the Card, someone might be able to use the Balance on the Card. We will have a customer service representative or automated voice response service available seven (7) days a week, twenty-four (24) hours a day that will allow immediate cancellation of the Card upon your request. If our records show that a Balance still remains on the Card, we will cancel the Card and make such Balance amounts available to you on a re-issued Card. It may take up to fifteen (15) business days to process your re-issue request.  

You agree, to the extent permitted by Applicable Law, to cooperate with us in our attempts to recover from unauthorized users and to assist in their prosecution.

Notification and Change of Terms: Subject to the limitations of Applicable Law, we may at any time change or remove any of the terms and conditions of, or add new terms or conditions to this Agreement, except that we will never add any new fees to your Card or increase any existing fees. We will post any such changes, as well as the most recent version of this Agreement, on the Website. As of the effective date included in any notice, the changed or new terms will apply to the Card, including, without limitation, all future transactions made using the Card. You are responsible for checking our Website for such notifications. You will be deemed to accept and be bound by the amendment upon use of the Card following the effective date of the Amendment. If you do not agree to any change of this Amendment, you agree to immediately stop using the Card and notify us that you are terminating this Agreement. Notwithstanding the foregoing, advance notice of any change may not be given if it is necessary to make any such change immediately in order to maintain or restore the security of the Card or any related payment system or comply with Applicable Law. If such a situation does arise, then you will be given notice as soon as reasonably possible in the circumstances.

Purchase Disputes and Refunds: If you believe a transaction on your Card account is incorrect, you must notify us in writing of your dispute within sixty (60) days of the transaction date. Following your notification, a form will need to be completed and emailed to the customer service team at support@koho.ca within ninety (90) days of the transaction date. You can obtain a dispute form by calling 1-855-564-6999 and following the prompts for lost or stolen cards. Please note that this form must be received within ninety (90) days of the date of the disputed transaction or you will have been deemed to have accepted such transaction.

If you identify an error in any transaction record, you must address such error with the applicable merchant. If there is any dispute in regard to the purchase of goods or services you made using the Card, you agree to settle such disputes with the merchant from whom the purchase was made. Please ask the merchant for any return policy that may apply to purchases made with the Card. We are not responsible for any problems you may have with any goods or services that you purchase with your Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the Balance on your Card in place of cash.

Arbitration: Subject to all other terms of this Agreement, and to the extent not prohibited by Applicable Law, you agree that any claim of any kind against us, the Program Manager, or Visa arising from or related to this Agreement or the use of the Card (i) shall be resolved by final and binding arbitration before a single arbitrator at Vancouver, British Columbia and (ii) shall not be brought through class or individual litigation proceedings. If such a claim is advanced by class proceeding by any other person on your behalf, you will opt out of, or not opt into, such proceedings as circumstances dictate.

Complaints: If you have a complaint or inquiry about any aspect of your Card, first attempt to resolve the complaint or inquiry by calling our toll-free customer service number at 1-855-564-6999  If customer service is unable to resolve the complaint or inquiry to your satisfaction, please call us at 1-855-694-6214 or submit your complaint or inquiry through the form found on the Website (https://www.peoplestrust.com/en/about-us/contact/). We will do our best to resolve your complaint or inquiry.

If for some reason we are unable to resolve the issue to your satisfaction, you may refer your inquiry or complaint to the Ombudsman for Banking Services and Investments at 1-888-451-4519 for resolution. If the Cardholder has a concern regarding a potential violation of a consumer protection law, a public commitment, or an industry code of conduct, the concern may be communicated at any time to the Financial Consumer Agency of Canada, either in person, by letter, by telephone, or through its website at:

 

Financial Consumer Agency of Canada

427 Laurier Avenue West, 6th Floor

Ottawa, ON, K1R 1B9

Telephone: 1-866-461-3222

www.fcac-acfc.gc.ca

 

Our complaints policy can be found online at: https://www.peoplestrust.com/en/about-us/resolving-your-concerns/.

Notice Of Data Protection And Privacy Policy: Information We Collect/Information Security: We may obtain personal information (“Cardholder Information”) about you, including information (i) provided to us by the Distributor, such as your name and/or your address, (ii) provided by you contacting our customer Service (see the Contact Information section of the Agreement), and (iii) about purchases you made with the Card, such as the date of the purchase, the amount and the place of purchase. We may also obtain information from providers of identification services and demographic information. You may communicate with us through our customer service toll-free number or the Website with regards to requests to access or rectify information related to you that we have obtained. If such information is obtained from providers of identity verification data and demographic information, we will inform you of your right of access and rectification in relation to the file held by the personal information agent and will indicate to you the manner in which and the place where you may have access to the reports or recommendations and cause them to be rectified, where necessary. Only those persons who need it to perform their job responsibilities are authorized to have access to Cardholder Information unless otherwise specifically disclosed or agreed to by you. We maintain physical, electronic, and procedural security measures that comply with Canadian regulations to safeguard Cardholder Information.

 

Safeguarding Your Personal Information: We protect personal information in our possession or control from loss, theft, alteration and misuse. The safeguards employed by us to protect your personal information depend on the sensitivity, amount, distribution, format and storage of the personal information. Although technologies can make it easier for fraud to occur, we employ around the clock monitoring systems and controls to detect and prevent fraudulent activity. We also build fraud prevention measures into our due diligence processes and regularly update our fraud detection/prevention methods. While we take precautions to protect your personal information from loss, theft, alteration, or misuse, no system or security measure is completely secure. Any transmission of your personal data is at your own risk and we expect that you will use appropriate measures to protect your personal information as well.

 

Disclosure: We may use Cardholder Information (including the transfer of your information to individuals or organizations in the United States) to process Card transactions, to provide customer service in other countries in which we service our Cardholders, to process claims for lost or stolen Cards, to help protect against fraud, and to conduct research and analysis with our Cardholders through mail, phone or email surveys. If you have provided your consent, we and/or our Distributor may use Cardholder Information for direct mail communications and/or emails about upcoming promotions and offers. We will provide information about you and your participation in the program to the Distributor. We may provide certain Cardholder Information to others as permitted by Applicable Law, such as to government entities or other third parties in response to subpoenas.

The laws on data protection in other jurisdictions, to which we may transfer your information, may differ from those in your jurisdiction and any personal information transferred to another jurisdiction will be subject to law enforcement and national security authorities in that jurisdiction. Subject to these laws, we will use reasonable measures to maintain protections of your personal information that are equivalent to those that apply in Canada. You hereby give your consent to such cross-border transfers (including the United States) of such personal information to third parties for the purpose set out above.

Should you not wish to accept these data protection terms and conditions, or wish to withdraw your consent and cancel the Card, you must communicate with customer service and request we cancel the Card and discontinue any further use of your personal information.

Peoples Trust Company’s Privacy Policies: Our general personal information practices are described in our privacy policy, as amended from time to time, available online at https://www.peoplestrust.com/en/legal/privacy-security/privacy/.

No Warranty of Availability or Uninterrupted Use: FROM TIME TO TIME CARD SERVICES MAY BE INOPERATIVE, AND WHEN THIS HAPPENS, YOU MAY BE UNABLE TO USE YOUR CARD OR OBTAIN INFORMATION ABOUT THE BALANCE ON YOUR CARD. PLEASE NOTIFY US IF YOU HAVE ANY PROBLEMS USING YOUR CARD. YOU AGREE THAT WE ARE NOT RESPONSIBLE FOR ANY INTERRUPTION OF SERVICE.

Assignment: At our sole discretion, we may assign our rights and responsibilities under this Agreement at any time and without notice to you. If we do make such an assignment, then this Agreement will remain binding on you and your respective executors, administrators, successors, representatives and permitted assigns. 

Third Party Claims: In the event we reimburse you for a refund claim you have made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with the Card, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your Card. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your Card, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you. If we do not exercise our rights under this section, we do not give up our rights to exercise them in the future.

Disclaimer of Warranties: EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT AND EXCEPT FOR ANY APPLICABLE WARRANTIES SET OUT IN THE CONSUMER PROTECTION ACT (QUÉBEC), WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.

Limitation of Liability: EXCEPT IN QUÉBEC, OR AS EXPRESSLY REQUIRED BY THIS AGREEMENT OR APPLICABLE LAW, WE WILL NOT BE LIABLE TO YOU FOR PERFORMING OR FAILING TO PERFORM ANY OBLIGATION UNDER THIS AGREEMENT UNLESS WE HAVE ACTED IN BAD FAITH. WITHOUT LIMITING THE FOREGOING, WE WILL NOT BE LIABLE TO YOU FOR DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES BEYOND OUR CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, INSURRECTION, WAR, RIOTS, FAILURE OF MERCHANTS TO PERFORM OR PROVIDE SERVICES, FAILURE OF COMMUNICATION SYSTEMS, OR FAILURES OF OR DIFFICULTIES WITH OUR EQUIPMENT OR SYSTEMS. ALSO WITHOUT LIMITING THE FOREGOING, WE WILL NOT BE LIABLE TO YOU FOR ANY DELAY, FAILURE OR MALFUNCTION ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, ANY PAYMENT SYSTEM OR ANY CUSTOMER SERVICE FUNCTION. IN THE EVENT THAT WE ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL AND DIRECT DAMAGES. IN NO EVENT WILL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR SPECIAL DAMAGES (WHETHER IN CONTRACT, TORT, OR OTHERWISE), EVEN IF YOU HAVE ADVISED US OF THE POSSIBILITY OF SUCH DAMAGES.

Website and Availability: Although considerable effort is made to ensure that our Website and other operational and communications channels available around the clock, we do not warrant these channels to be available and error free at all times. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures, nor will we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labour disputes and armed conflicts. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses that may affect your computer or other equipment. You agree to act responsibly with regard to the Website and its use. You will not violate any laws, interfere or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten or harass anyone, gain any unauthorized entry, or interfere with the Website’s systems and integrity.

Entire Agreement: This Agreement sets forth the entire understanding and Agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or Agreements with respect to such subject matter.

Governing Law: The parties agree that any claim or action brought pursuant to this Agreement will be brought in the exclusive jurisdiction of the courts of British Columbia and this Agreement will be construed in accordance with and governed by the laws of the Province of British Columbia and the laws of Canada applicable therein.

FOR RESIDENTS OF QUÉBEC ONLY: The parties attorn to the jurisdiction of Québec and this Agreement will be construed in accordance with and governed by the laws of the province of Québec and the laws of Canada applicable therein.

Section Headings: Section headings in this Agreement are for convenience of reference only, and will not govern the interpretation of any provision of this Agreement.

Severability: If any of the terms of this Agreement are invalid, changed by Applicable Law or declared invalid by order of court or regulatory authority, the remaining terms of this Agreement will not be affected, and this Agreement will be interpreted as if the invalid terms had not been included in this Agreement.

Contact Information: If you have questions regarding the Card, or need to report a lost or stolen Card, you may call customer service at 1-855-564-6999 or email: support@koho.ca or write to customer service at KOHO Customer Service, 67 Mowat Ave #200, Toronto, ON, M6K 3E3

*Visa Int./Peoples Trust Company, Licensed User

Updated: September 27, 2019

Peoples Trust Company Terms of use for Mobile Payment Services

Last modified: [April 22]

These Terms of Use for Mobile Payment Services (the “Terms”) apply when you choose to add a prepaid card issued by Peoples Trust Company (“Card”) to an eligible mobile payment wallet (each, a “Wallet”). In these Terms, “you” and “your” refer to the cardholder of the Card, and “we,” “our,” “us” and “Issuer” refer to the issuer of your Card, Peoples Trust Company.

When you add a Card to a Wallet, you agree to these Terms:

  • Applicability of Terms: These Terms apply to your loading and use of your Card in each Wallet. You understand that your use of your Card in a Wallet is also subject to the agreements or terms of use of the Wallet provider, third party wireless companies, and/or data service providers and other third parties who are involved in the operation of the Wallet, services related to the Wallet, transactions conducted using the Wallet, or provision of devices or device software through which the Wallet operates (“Mobile Devices”), none of whom are related to or controlled by us (each, a “Service Provider”).

  • Adding your Card: Your Card may be added to an eligible Wallet by following the instructions of the Wallet provider. Only Cards that we indicate are eligible can be added to a Wallet. Your Card may be added to multiple Wallets and used on multiple Mobile Devices. You may not add a Card to a Wallet or use a Card in a Wallet if at any time: (i) your Card or related account is not in good standing; (ii) your Card has been cancelled or suspended; (iii) we cannot authenticate the Card in accordance with our procedures; (iv) we suspect there may be fraud in connection with your Card or use of your Card, or (v) we have suspended or terminated your Card’s eligibility for use with a Wallet. Additional requirements or restrictions may also be imposed by Service Providers.

  • Your Cardholder Agreement Terms Do Not Change: The terms of the cardholder agreement that govern your Card as amended by us from time to time (“Cardholder Agreement”) continue to apply to your Card when you add your Card to a Wallet. These Terms are supplemental to the Cardholder Agreement. Nothing in these Terms supersedes, replaces or otherwise modifies your Cardholder Agreement. For example, any applicable fees or charges that apply to your Card will continue to apply when you use a Wallet to conduct transactions with your Card.

  • Issuer Is Not Responsible for the Wallet: Subject to restrictions in this Agreement, you may use any Card added to a Wallet, through the Wallet and Service Provider Mobile Devices and services, to make purchases wherever the Wallet is accepted. Information about the Card and certain recent transactions may also be made available through a Wallet. The Wallet may not be accepted everywhere your Card is accepted. You acknowledge and agree that we are not a party to your agreements with any Service Providers, we do not provide any support or assistance for any hardware, software, or other services of a Service Provider related to the operation of the Wallet or a Mobile Device used with the Wallet. We are not responsible for the performance or non-performance of the Wallet provider or any other Service Provider regarding any agreement you enter into with the Wallet provider, any other Service Provider or associated third‐party relationships that may impact your use of a Wallet. Issuer is not responsible for or liable to you, for any failure of a Wallet, for security of the wallet or your personal information stored in the wallet or on any MOBILE DEVICE that you use with the wallet,or for any loss, injury, damage, harm, cost or inconvenience you may suffer as a result of a failure or inability to use a Wallet for any transaction, security breach of the wallet or a servcice provider device, or arising generally from any act, failure to act, or representation by or on behalf of a Service Provider. You should review Service Provider terms and conditions carefully to understand your agreements with a Service Provider, including but not limited to your obligations to the Service Provider, disclaimers of responsibility and limitations of liability of the Service Provider, restrictions on use of the Wallet, relating to security of the Wallet and any Mobile Device used with the Wallet, and how your personal information will be collected and used by any Service Provider, and how collection, use and disclosure of your information may be controlled in respect of the Wallet using a Mobile Device on which you store the Wallet. Questions regarding how to use a particular Wallet and the terms and conditions of the Wallet should be addressed to the Wallet provider.

  • Security: You agree to protect and keep confidential your User ID, passwords and all other authentication information required for your use of a Card in a Wallet. If you share these credentials with others, third parties may be able to use your Card through a Wallet and access Card information made available through the Wallet. You agree to keep the Mobile Device on which the Wallet is stored safe and secure and you agree to notify us if your Mobile Device is lost or stolen. You will be responsible for the full amount of any losses if you contributed to the unauthorized use of your Card or if you failed to notify us as required in the terms of your Cardholder Agreement or if you fail to notify us of the loss or theft of your Mobile Device. You agree to delete your Card from the Wallet before you deliver your Mobile Device to any Mobile Device service or when you retire or discard your Mobile Device. You also agree that you are solely responsible to ensure the safety and security of your Mobile Device and you agree that you will implement reasonable security protocols to protect the Mobile Device and the Wallet from unauthorized use, including but not limited to password and/or biometric protection to restrict access to your Mobile Device, ensuring that you do not provide passwords or add biometric verifications to your Mobile Device for any person that you have not authorized to use your Wallet, and that you will not add your Card to a Wallet on any Mobile Device that has been compromised through “jail breaking” or any other similar alteration. Except as expressly provided in this Agreement, the Cardholder Agreement, or unless prohibited by law, you are responsible and liable for all transactions conducted through the Wallet using your Card and, in any event, you will be liable for any transactions conducted by anyone using authentication codes or biometric or other verifications that grant access to, and allow use of, your Mobile Device where you store the Wallet.

  • Fees: Issuer does not charge fees for adding a Card to a Wallet or using your Card in a Wallet, however any fees and charges disclosed in your Cardholder Agreement, if applicable, will continue to apply to the use of your Card. We may charge fees for adding or using a Card in a Wallet in the future, in which case we will amend the fees disclosed in your Cardholder Agreement to include those fees. In addition, the Wallet provider or other Service Provider(s) may charge fees in connection with your use of a Wallet, over which we have no control. Service Provider fees may form part of the transaction amount that is charged to your Card when using the Wallet and the nature and amount of those fees may be unknown to us. You agree that Service Provider fees will be charged to your Card when processing a transaction conducted using the Wallet and that you are responsible for paying such Service Provider fees. You agree that we are not responsible for identifying, disclosing or verifying Service Provider fees and that charging such fees to your Card is not a “Billing Error” as contemplated below or in the Cardholder Agreement.

  • Billing Errors: You are responsible for identifying and notifying us of any billing errors in accordance with the terms and in the timeframes required by your Cardholder Agreement. We will address any potential error in accordance with the terms disclosed in the Cardholder Agreement. Some transaction details may be presented to you on your Mobile Device through your Wallet. We do not guarantee that the transaction information displayed through your Wallet will be accurate or complete. Some transactions displayed through your Wallet may be pending charges that are temporary and subject to change. When reviewing your transaction history for errors or otherwise you should review the statements or transaction history for your Card available from us or through the program manager for your Card.

  • Ending or Suspending Use of a Wallet: We can end or suspend your ability to use a Card in a Wallet at any time and have the right to block transactions made with a Card through a Wallet at any time. You agree to remove your Card from any Wallet as we direct, immediately upon request by us. You may remove your Card from a Wallet by following the instructions provided by the Wallet provider.

  • Privacy and Security: As set out in your Cardholder Agreement, we may collect and use your personal information (“Cardholder Information”) to process Card transactions, to provide our services from other countries from which we service our cardholders, to process claims for lost or stolen Cards and to help protect against fraud and for regulatory compliance purposes. We may share Cardholder Information with entities that provide services on our behalf, as necessary for these purposes. You agree that by adding your Card to a Wallet, we may also share Cardholder Information with the Wallet provider, the Card networks (e.g., Visa*) and Service Providers in order to facilitate any Wallet services you request; to make information about your Card transactions available to you in a Wallet; and/or to enable you to obtain Wallet services. We will not authorize any Service Providers or other third parties to share or use such information for any other purposes. We do not control how third parties use information they receive in connection with your use of your Card in a Wallet. You may obtain information about the privacy policies of the Wallet provider and Service Providers by contacting them directly. Issuer’s privacy policy is available at https://www.peoplestrust.com/en/legal/privacy-security/privacy/.We may provide certain Cardholder Information to others as permitted or required by law, such as to any governmental authority, Service Providers or third parties in response to subpoenas, court orders, or requests from law enforcement or other governmental authorities to establish or exercise our legal rights and to defend against legal claims.You recognize and agree that Cardholder Information may be transferred to, and stored and/or processed outside the jurisdiction in which you reside (including the United States). Any Cardholder Information transferred to another jurisdiction will be subject to the laws of that jurisdiction, which may differ from those in the jurisdiction where you reside. These laws may permit governments, tribunals, law enforcement, regulatory and national security authorities in that jurisdiction to access Cardholder Information in certain circumstances.
    You agree that we, our service providers, or any affiliates, agents or service providers on behalf of us or our service providers, may use written or verbal means to contact you regarding the Card, activity relating to the Card or your use of the Card, in connection with the Wallet. This includes, but is not limited to, contact by manual calling methods, text or SMS messages, email, pre-recorded or artificial voice messages, and/or automatic telephone dialing systems. You agree that these entities may use any e-mail address or any telephone number that you provide now or in the future, including a number for a cellular phone or other wireless device, regardless of whether you incur charges as a result, to advise you about activity relating to the Card. You agree that these entities may monitor and record telephone calls between you and them to assure quality service and for staff training purposes.Should you not wish to accept these privacy terms and conditions, or wish to withdraw consent and, therefore, terminate your use of your Card in the Wallet, you must communicate with our customer service at the number printed on the back of your Card and the customer service of the Wallet provider and discontinue any further use of the Card in the Wallet. You may be able to deactivate certain communications of data relating to your Card to the Wallet and Mobile Device on which the Wallet is stored using the functionality of the Mobile Device.Electronic Communications. You agree to receive electronic communications from us, including SMS to your Mobile Device and emails to the email address we have on record for you. We may send you electronic communications when you add and/or use your Card with a Wallet. We are not responsible for the failure of the delivery of an electronic communication that may prevent registering or using your Card with a Wallet, even if the contact information we have from you is correct. You may revoke your consent to receiving electronic communications from us at any time by communicating with customer service using the phone number printed on the back of your Card. You are responsible for informing customer service if the contact information we have from you has changed.

  • Disclaimer of Warranties: YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT THE USE OF ANY CARD PROVISIONED IN A WALLET IS AT YOUR SOLE RISK.. THE FOLLOWING STATEMENT DOES NOT APPLY IN QUEBEC: TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY CARD MADE AVAILABLE TO YOU THROUGH A WALLET IS PROVIDED TO YOU “AS IS” AND “AS AVAILABLE”, WITH ALL DEFECTS THAT MAY EXIST FROM TIME TO TIME AND WITHOUT WARRANTY OF ANY KIND. ISSUER, ON BEHALF OF ITSELF AND ITS SUPPLIERS, HEREBY DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH RESPECT TO ANY CARD PROVISIONED IN A WALLET, EITHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, QUIET ENJOYMENT, AND NON-INFRINGEMENT OF THIRD PARTY RIGHTS.

  • Complaints: If you have a complaint or inquiry about any aspect of the use of your Card, please first attempt to resolve the complaint or inquiry by calling the Customer Service number at number printed on the back of your Card. If Customer Service is unable to resolve the complaint or inquiry to your satisfaction, please submit your complaint or inquiry through the form found at https://www.peoplestrust.com/en/about-us/contact/. We will do our best to resolve your complaint or inquiry. If for some reason we are unable to resolve the issue to your satisfaction, you may refer your inquiry or concern to the Ombudsman for Banking Services and Investments at 1-888-451-4519 for resolution. You may also communicate the complaint or inquiry to: Financial Consumer Agency of Canada
    427 Laurier Avenue West, 6th Floor
    Ottawa, ON, K1R 1B9
    Tel.: 1-866-461-3222
    www.fcac-acfc.gc.ca

  • Governing Law: The parties attorn to the jurisdiction of British Columbia and these terms of use shall be construed in accordance with, and governed by, the laws of the Province of British Columbia and Canada to the fullest extent permitted by law. FOR CONSUMERS RESIDING IN QUÉBEC ONLY: The parties attorn to the jurisdiction of Québec and this Agreement will be construed in accordance with and governed by the applicable laws of Québec and Canada.

  • Changes to Terms: Subject to the limitations of applicable law, we may amend any term or condition of these Terms at our discretion from time to time, including increasing or adding new fees (an “Amendment”). We will post Amendments and the then current version of these Terms on our Website. Amendments will be posted at least thirty (30) days in advance of the Amendment taking effect. An Amendment will take effect on the date indicated in the notice. If the Amendment increases your obligations or a reduces our obligations, you may refuse the Amendment and either remove your Card from any Wallet without cost, penalty or cancellation indemnity or cancel your Card following the process set out in the Cancellation section of the Cardholder Agreement, no later than thirty (30) days after the Amendment comes into force. We may also make changes to our services without notice if necessary to maintain or restore security of the Card or any related payment system or to comply with applicable law. We will give notice of such changes as soon as possible.

  • Questions: If you have any question, dispute, or complaint about a Wallet, you should contact the Wallet provider using the information it provided to you. If you have any question, dispute, or complaint about a Card, you should contact us by telephone at: 1-855-564-6999 or email at team@koho.ca.

  • Language: It is the express wish of the parties that this Agreement and any directly or indirectly related documents be drawn up in English. Les parties ont exprimé la volonté expresse que cette convention et tous les documents s’y rattachant directement ou indirectement soient rédigés en anglais.

*Trademark of Visa International Service Association and used under licence by Peoples Trust Company

KOHO Advance Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO Advance no-fee, no-interest line of credit facility (“KOHO Advance”) extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”). By requesting KOHO Advance through the KOHO App, you agree to these terms and conditions.

1. Eligibility:

To access KOHO Advance, your KOHO Account must be in good standing which means:

  • a) your KOHO Account must be active, and

  • b) you must have Payroll Direct load set up on your KOHO Account and have received at least one payroll direct load of $100 or more in the current or previous calendar month. For example, to be eligible for the program in March, you must have received a direct load of $100 or more in February or March.

Failure to repay a KOHO Advance will automatically make you ineligible for future KOHO Advances. KOHO will not obtain your credit score or credit report or report to any credit bureau in connection with KOHO Advance without your consent.

2. Line of Credit:

KOHO Advance is a no-fee, no-interest line of credit. Some terms and conditions of KOHO Advance will vary (as set out below) depending on whether or not you have subscribed for KOHO Bundle.

 

With subscription to KOHO Bundle

Without subscription to KOHO Bundle

KOHO Advance Limit:

$100

$100

KOHO Canada Life* Advance Limit:

$500

$500

Interest:

0%

0%

Non-Interest Charges:

None

None

Availability of each KOHO Advance:

Any time

Three days prior to a scheduled Payroll Direct load

Minimum Payment:

Total amount of Advance

Total amount of Advance

Minimum Payment Due Date:

No later than 30 days after each Advance. You select your repayment date at the time of each Advance.

No later than three days after each Advance. You select your repayment date at the time of each Advance

NSF Fee:

$0

$0

Statements:

Information about your Advances and repayments will be made available in you in your monthly statement, accessible in the KOHO app.

*This is available to Canada Life users only and does not extend to other KOHO users (Regular, Joint or Premium)

3. How it Works

If you meet the eligibility criteria above and you have opted-into KOHO Advance through the KOHO App, you can request an Advance up to your KOHO Advance limit. If you have subscribed to KOHO Bundle, you can request an Advance up to the amount of your KOHO Advance Limit at any time. If you have not subscribed to KOHO Bundle, you can request an Advance up to the amount of your KOHO Advance Limit up to three days prior to your next-scheduled Payroll Direct load. You must select your repayment date (the “Payment Due Date”) at the time that you request the Advance which may be no later than 15 days following the date of the Advance for the KOHO Bundle and three days without the KOHO Bundle. KOHO Advance funds will then be credited to your KOHO Account based on the terms noted above.

4. Repayment

By requesting a KOHO Advance, you promise to repay us the amount of the Advance on the Payment Due Date that you have selected or an earlier date should you wish to do so. Repayment of each of your Advances will be made by pre-authorized debit (PAD) to your KOHO Account with the effective date of the PAD authorization being the date at which you opt in to the KOHO Bundle. This is a personal PAD .If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to KOHO Advance or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any Advance at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. To more information on recourse rights, contact your financial institution or visit www.payments.ca.

5. Transaction Details

Any Advance you request and the details of your repayments will be reflected in the transaction feed of the KOHO app. If you notice an item in error and wish to dispute it, you must inform customer service via in-app chat or by calling 1-855-564-6999 within 90 days of the date that the item was first posted to your transaction feed. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

6. Default

You will be in default under this Agreement if you:

  • a) fail to repay an Advance on the Payment Due Date, or if we believe for any reason that you that you will be unable to repay an Advance,

  • b) cancel or revoke the PAD authorization without a replacement authorization;

  • c) close your KOHO Account or are in default under your KOHO Cardholder Agreement,

  • d) are in default under the KOHO Bundle Terms and Conditions;

  • e) have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • f) commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party, or

  • g) die.

If you are in default for any of the above reasons, we may, in our discretion:

  • a) charge you a non-sufficient funds (NSF) fee,

  • b) request that you repay any outstanding Advance immediately,

  • c) suspend or terminate access to future KOHO Advances, and/or

  • d) suspend or terminate your KOHO Account.

7. Termination

You may terminate this Agreement or the ability for us to withdraw your funds by way of PAD at any time by withdrawing from KOHO Advance within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the KOHO Advance program at any time. If this Agreement is terminated by you or by KOHO, you must immediately repay the amount of any outstanding Advance. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

8. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.

9. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to KOHO Advance. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you have an outstanding Advance, if you request a new Advance or if you make a repayment after we have made a change to this Agreement, you will be considered to have agreed to the change.

10. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, KOHO Advance, or in respect of our provision of KOHO Advance or our suspension or termination of KOHO Advance.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

KOHO Bundle Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO Advance no-fee, no-interest line of credit facility (“KOHO Advance”) extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”). By requesting KOHO Advance through the KOHO App, you agree to these terms and conditions.

1. Eligibility:

To access KOHO Advance, your KOHO Account must be in good standing which means:

  • a) your KOHO Account must be active, and

  • b) you must have Payroll Direct load set up on your KOHO Account and have received at least one payroll direct load of $100 or more in the current or previous calendar month. For example, to be eligible for the program in March, you must have received a direct load of $100 or more in February or March.

2. KOHO Bundle

The KOHO Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for a $5 fee (“Subscription Fee”). The term of the KOHO Bundle is a maximum of 15 days (“Subscription Term”) and includes:

  1. Unlimited access to our in-house financial coach

  2. Ability to opt into KOHO Advance, our no-fee, no interest line of credit

3. How it Works

If you meet the eligibility criteria above and you have opted-into the KOHO Bundle through the KOHO App, you will have access to the bundle of the above-noted bundle of services. When you subscribe to the KOHO Bundle, we will automatically deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (PAD). If you do not utilize any services in the KOHO Bundle, the Subscription Fee will be refunded to you at the end of the Subscription Term. Please refer to the terms and conditions for the KOHO Advance product for more details on the no fee, no interest line of credit.

4. Payment

Payment of the Subscription Fee will be made by PAD to your KOHO Account with the effective date of the PAD authorization being the date at which you opt in to the KOHO Bundle. This is a personal PAD. If you cancel or revoke our ability to withdraw funds by PAD for these purposes, you will not have access to the KOHO Bundle until you provide a new authorization or another payment method that is acceptable to us, in our sole discretion.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. For more information on recourse rights, contact your financial institution or visit. www.payments.ca.

5. Default

You will be in default under this Agreement if you:

  • a) fail to pay the Subscription Fee, your payment is returned to us or dishonoured, or if we believe for any reason that you that you will be unable to pay the Subscription Fee,

  • b) cancel or revoke the PAD authorization without a replacement authorization;

  • c) close your KOHO Account or are in default under your KOHO Cardholder Agreement,

  • d) are in default under the KOHO Advance Terms and Conditions,

  • e) have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • f) commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party, or

  • g) die.

If you are in default for any of the above reasons, we may, in our discretion:

  • a) charge you a non-sufficient funds (NSF) fee,

  • b) request that you repay any outstanding Advance immediately,

  • c) suspend or terminate access to the KOHO Bundle or any other services that KOHO may make available from time to time, and/or

  • d) suspend or terminate your KOHO Account.

6. Termination

You may terminate this Agreement and our ability to withdraw funds by way of PAD at any time by withdrawing from the KOHO Bundle within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the KOHO Bundle program at any time. If this Agreement is terminated by you or by KOHO and you have not used the KOHO Bundle, the Subscription fee will be refunded, but it will not be if you terminate after using the KOHO Bundle in accordance with this agreement. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

7. Limitation of Liability

By opting into the KOHO Bundle you agree that the use of the financial coaching service does not constitute financial or investment advice and should not be interpreted as such. The information received through the financial coach should be reviewed by an independent financial or investment professional. You are solely responsible for your own financial and investment research and decisions and KOHO will not be responsible for any loss or damage you may incur as a result of your use of the financial coaching service or any other service that KOHO may make available in the KOHO Bundle.

8. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.

9. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria, the offerings within the KOHO Bundle or any of the other terms and conditions relating to KOHO Bundle. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. if you subscribe to a new KOHO Bundle or use the KOHO Bundle services after we have made a change to this Agreement, you will be considered to have agreed to the change.

10. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, KOHO Bundle, or in respect of our provision of KOHO Bundle or our suspension or termination of KOHO Bundle.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.


KOHO Credit Building Bundle Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the services extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”) from time to time (the “Credit Building Bundle”) as set out in more detail below. By subscribing to the Credit Building Bundle through the KOHO App, you agree to these terms and conditions.

1. Definitions

In this Agreement, “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO App.

2. Eligibility

To access the Credit Building Bundle, your KOHO Account must be in good standing which means your KOHO Account must be active and you must have activated your physical card. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

3. Credit Building Bundle

The Credit Building Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for the monthly fee displayed in the subscription process in your KOHO App (“Subscription Fee”). The term of the Credit Building Bundle is six (6) months (“Subscription Term”) and includes:

  • 1) Unlimited access to our in-house financial coach;

  • 2) Access to, our no-fee, no interest line of credit;

  • 3) Your monthly credit score, updated each month and showing monthly progress; and

  • 4) KOHO reporting your payment activity to a credit bureau to help build credit history.

On the expiration of the Subscription Term, you will have to re-enroll in order to continue receiving the benefits of the Credit Building Bundle.

4. Term

The term of this Agreement and the Credit Building Bundle shall commence on the date this Agreement is accepted by you and will continue for an initial six (6) month term (the “Initial Term”), unless this Agreement is terminated earlier in accordance with the provisions of this Agreement. This Agreement will be automatically renewed for successive six (6) month terms thereafter (each six (6) month period, a “Renewal Term” and each Renewal Term collectively with the Initial Term, the “Subscription Term”) unless you notify KOHO in the KOHO App of your intention to not renew the Credit Building Bundle.

5. How it Works

If you meet the eligibility criteria above and you have opted-into the Credit Building Bundle through the KOHO App, you will have access to the above-noted bundle of services. When you subscribe to the Credit Building Bundle, we will automatically deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (“PAD”) as set out in the following section. Please refer to the terms and conditions for the Credit Building Line of Credit for more details on the no fee, no interest line of credit.

6. Payment

In the KOHO App, when you register for the Credit Building Bundle, you shall be required to select to pay the Subscription Fee either monthly or in advance for the Initial Term. You may change this selection at any time in the KOHO App. Payment of the Subscription Fee will be made by PAD from your KOHO Account at the beginning of the month in which payment is due, with the effective date of the PAD authorization being the date at which you opt into the Credit Building Bundle. This is a personal PAD. You authorize KOHO to debit your KOHO Account for the Subscription Fee based upon the payment frequency selected. All Subscription Fees are non-refundable. In the event this Agreement is terminated for any reason prior to the expiry of the Subscription Term, KOHO shall have no obligation to refund any amounts to you. You authorize PADs in this manner each time you are required to pay the Subscription Fee for the Credit Building Bundle. If any payment date falls on a weekend or statutory holiday, such amount will be debited by KOHO on the next business day.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to the Credit Building Bundle or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion with no liability to you. We reserve the right to demand repayment on any line of credit balance or outstanding Subscription Fees at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this authorization. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD authorization. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO app or at 1-855-564-6999.

7. Default

  • You will be in default under this Agreement if you:

  • a) fail to pay the Subscription Fee, your payment is returned to us or dishonoured, or if we believe for any reason that you that you will be unable to pay the Subscription Fee,

  • b) cancel or revoke the PAD authorization without a replacement authorization;

  • c) close your KOHO Account or are in default under your KOHO Cardholder Agreement,

  • d) are in default under the Credit Building Line of Credit Terms and Conditions,

  • e) have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • f) commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or

  • g) die.

If you are in default for any of the above reasons, we may, in our discretion:

  • a) request that you repay any outstanding Subscription Fee immediately (subject to applicable law);

  • b) suspend or terminate access to the Credit Building Bundle or any other services that KOHO may make available from time to time; and/or

  • c) suspend or terminate your KOHO Account.

8. Termination

You may terminate this Agreement and our ability to withdraw funds by way of PAD at any time by withdrawing from the Credit Building Bundle within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate or suspend this Agreement and the Credit Building Bundle at any time for any reason. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

9. Limitation of Liability

By opting into the Credit Building Bundle, you agree that the use of the financial coaching service does not constitute financial or investment advice and should not be interpreted as such. The information received through the financial coach should be reviewed by an independent financial or investment professional. You are solely responsible for your own financial and investment research and decisions and KOHO will not be responsible for any loss or damage you may incur as a result of your use of the financial coaching service or any other service that KOHO may make available in the Credit Building Bundle.

You further agree that KOHO does not guarantee that your credit score will increase solely by accessing the Credit Building Bundle. Credit scores are generated by combining a number of factors and the Credit Building Bundle is one such input.

10. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.

11. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria, the offerings within the Credit Building Bundle or any of the other terms and conditions relating to Credit Building Bundle. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you subscribe to a new Credit Building Bundle or use the Credit Building Bundle services after we have made a change to this Agreement, you will be considered to have agreed to the change.

12. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, Credit Building Bundle, or in respect of our provision of Credit Building Bundle or our suspension or termination of Credit Building Bundle.

This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

KOHO Credit Building Line of Credit Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO no-fee, no-interest line of credit (“KOHO Line of Credit”) extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”). By requesting KOHO Line of Credit through the KOHO App, you agree to these terms and conditions.

1. Definitions

In this Agreement, “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO App.

2. Eligibility

To access KOHO Line of Credit, your KOHO Account must be in good standing which means your KOHO Account must be active, you must have activated your physical card and you must have subscribed to the KOHO Credit Building Bundle. KOHO reserves the right to add additional eligibility criteria in its sole discretion. This program is not available to residents of Saskatchewan.

Failure to repay a KOHO Line of Credit will automatically make you ineligible for future KOHO Lines of Credit. KOHO will obtain your credit score to display to you within the KOHO app and will report to a credit bureau(s) in connection with KOHO Line of Credit. By signing up for the KOHO Line of Credit, you consent to KOHO obtaining your credit score solely for the purposes of this product and to reporting to a credit bureau(s).

3. Line of Credit

KOHO Line of Credit is a no-fee, no-interest Line of Credit. The terms of the KOHO Line of Credit are set out below:

KOHO Line of Credit

Initial Credit Limit:

$750

Initial Advance:

$225

Interest:

0%

Non-Interest Charges:

None

Minimum Payment:

$225

Payment Due Date:

30 days following the Initial Advance and then every 30 days while there is an outstanding balance.

NSF Fee:

$0

Statements:

Information about your Line of Credit and repayments will be made available in you in your monthly statement, accessible in the KOHO app.

To obtain information about your KOHO Account or your Line of Credit, please contact KOHO through the KOHO App or by calling customer service at 1-855-564-6999.

4. How it Works

If you meet the eligibility criteria above and you have opted-into KOHO Line of Credit through the KOHO App, you will immediately be granted an advance of $225 on your KOHO Line of Credit (this is the “Initial Advance”). The Initial Advance will be credited to your KOHO Account on your opt-in date based on the terms noted above.

After your Initial Advance, we recommend that you do not request any additional advances on your KOHO Line of Credit. This is because your credit score is more likely to improve if you continue to have credit available rather than maintaining a balance that is at or near your Credit Limit. If you require access to your full Credit Limit, the KOHO Credit Building Line of Credit may not meet your needs and we may recommend that you move to a different KOHO product.

After repaying your Initial Advance on the Payment Due Date, you will immediately be granted a new advance of $225 on your KOHO Line of Credit (“Subsequent Advances”). This process will repeat each month for the duration of the Subscription Term as described in the Credit Building Bundle Terms and Conditions and each subsequent Subscription Term thereafter, if applicable.

By agreeing to these terms and conditions, you hereby agree to receive Subsequent Advances in accordance with this agreement.

KOHO does not guarantee that your credit score will increase solely by accessing the KOHO Line of Credit. Credit scores are generated by combining a number of factors and the outstanding balance, available credit and payments made on your KOHO Line of Credit are examples of such inputs.

5. Repayment

By requesting a KOHO Line of Credit, you promise to repay us the Minimum Payment on each Payment Due Date. Repayment of your KOHO Line of Credit will be made by pre-authorized debit (PAD) to your KOHO Account on each Payment Due Date with the effective date of the PAD authorization being the date at which you opt into KOHO Line of Credit. If any payment date falls on a weekend or statutory holiday, such amount will be debited by KOHO on the next business day. This is a personal PAD. You are entitled to prepay the full outstanding balance of your KOHO Line of Credit at any time without any prepayment charge or penalty.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to KOHO Line of Credit or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any outstanding balance on your KOHO Line of Credit at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this authorization. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD authorization. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO app or at 1-855-564-6999.

6. Transaction Details

If you notice an item any errors and wish to dispute it, you must inform customer service via in-app chat or by calling 1-855-564-6999 within 90 days of the date that the item was first posted to your transaction feed. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

7. Default

You will be in default under this Agreement if you:

  • a) fail to make a Minimum Payment on the Payment Due Date, or if we believe for any reason that you that you will be unable to make a Minimum Payment or otherwise repay a KOHO Line of Credit,

  • b) cancel or revoke the PAD authorization without a replacement authorization;

  • c) close your KOHO Account or are in default under your KOHO Cardholder Agreement,

  • d) are in default under the KOHO Credit Building Bundle Terms and Conditions;

  • e) have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • f) commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party, or

  • g) die.

If you are in default for any of the above reasons, we may, in our discretion:

  • a) request that you repay any outstanding Line of Credit balance immediately (subject to applicable law),

  • b) suspend or terminate access to future KOHO Lines of Credit, and/or

  • c) suspend or terminate your KOHO Account.

8. Termination

You may terminate this Agreement or the ability for us to withdraw your funds by way of PAD at any time by withdrawing from KOHO Line of Credit within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the KOHO Line of Credit program at any time. If this Agreement is terminated by you or by KOHO, you must immediately repay the amount of any outstanding KOHO Line of Credit Balance. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

9. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.

10. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to KOHO Line of Credit. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you have an outstanding balance on your Line of Credit, if you request new funds from your KOHO Line of Credit or if you make a repayment after we have made a change to this Agreement, you will be considered to have agreed to the change.

11. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, KOHO Advance, or in respect of our provision of KOHO Advance or our suspension or termination of KOHO Advance.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties.

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

KOHO Credit Building Line of Credit Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO no-fee, no-interest line of credit (“KOHO Line of Credit”) extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”). By requesting KOHO Line of Credit through the KOHO App, you agree to these terms and conditions.

1. Definitions

In this Agreement, “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO App.

2. Eligibility

To access KOHO Line of Credit (a) your KOHO Account must be in good standing which means your KOHO Account must be active; (b) you must have activated your physical card and you must have subscribed to the KOHO Credit Building Bundle; and (c) the KOHO Credit Building Bundle Terms and Conditions applicable to you must be active. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

Failure to repay a KOHO Line of Credit in accordance with this Agreement will automatically make you ineligible for any future KOHO Lines of Credit. KOHO will obtain your credit score to display to you within the KOHO App and will report to a credit bureau(s) in connection with the KOHO Line of Credit. By signing up for the KOHO Line of Credit, you consent to KOHO obtaining your credit score solely for the purposes of this product and to reporting to a credit bureau(s).

3. Line of Credit

The KOHO Line of Credit is a no-fee, no-interest Line of Credit. The terms of the KOHO Line of Credit are set out below:

KOHO Line of Credit

Credit Limit:

$225

Interest:

0%

Non-Interest Charges:

None

Minimum Payment:

Full outstanding balance, if the outstanding balance is less than $67.50; or, the maximum of either 30% of the outstanding balance or $67.50

Payment Due Date:

30 days following a drawdown and then every 30 days while there is an outstanding balance

NSF Fee:

$0

Statements:

Information about your Line of Credit and repayments will be made available in your monthly statement, accessible in the KOHO app.

To obtain information about your KOHO Account or your Line of Credit, please contact KOHO through the KOHO App or by calling customer service at 1-855-564-6999.

4. How it Works

If you meet the eligibility criteria set out herein and you have opted to receive a KOHO Line of Credit through the KOHO App, you will be issued a KOHO Line of Credit in the amount of $225. You are able to draw down on your KOHO Line of Credit directly from the KOHO App. If you draw down on your KOHO Line of Credit it may take up to three (3) days for funds to appear in your KOHO Account.

Non-payment of any outstanding balances owed will negatively impact your credit score.

KOHO does not guarantee that your credit score will increase solely by maintaining a KOHO Line of Credit. Credit scores are generated by combining a number of factors. Maintaining available credit , carrying a low balance on your KOHO Line of Credit and making payments to your KOHO Line of Credit are examples of such inputs.

5. Repayment

By requesting a KOHO Line of Credit, you promise and agree to repay to us the applicable Minimum Payment amount on each Payment Due Date. Repayment of your KOHO Line of Credit will be made by pre-authorized debit (“PAD”) from your KOHO Account on each Payment Due Date with the effective date of the PAD authorization being the effective date of this Agreement. This is a personal PAD. You are entitled to prepay the full outstanding balance of your KOHO Line of Credit at any time without any prepayment charge or penalty. If your KOHO Account does not hold sufficient funds to pay the Minimum Payment on the Payment Due Date, we may charge you the balance of your KOHO Account and collect the remainder of the amount owing from you.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO.  You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to KOHO Line of Credit or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any outstanding balance on your KOHO Line of Credit at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this authorization. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD authorization. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO app or at 1-855-564-6999.

6. Transaction Details

If you notice an item any errors and wish to dispute it, you must inform customer service via in-app chat or by calling 1-855-564-6999 within 90 days of the date that the item was first posted to your transaction feed. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

7. Default

You will be in default under this Agreement if you:

  1. fail to make a Minimum Payment on the Payment Due Date, or if we believe for any reason that you that you will be unable to make a Minimum Payment or otherwise repay a KOHO Line of Credit;

  2. cancel or revoke the PAD authorization without a replacement authorization;

  3. close your KOHO Account or are in default under your KOHO Cardholder Agreement;

  4. are in default under the KOHO Credit Building Bundle Terms and Conditions;

  5. have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement;

  6. commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or

  7. die.

If you are in default for any of the above reasons, we may, in our discretion:

  1. require that you immediately repay the full outstanding balance (if any) of the KOHO Line of Credit;

  2. suspend or terminate access to future KOHO Lines of Credit and other KOHO products and services; and/or

  3. suspend or terminate your KOHO Account.


8. Termination

You may terminate this Agreement or the ability for us to withdraw your funds by way of PAD at any time by withdrawing from KOHO Line of Credit within the KOHO App or by calling customer service at 1-855-564-6999.

This Agreement shall terminate automatically upon termination or expiry of the KOHO Credit Building Bundle Terms and Conditions applicable to you. Please note that any termination of the KOHO Line of Credit does not relieve you of your obligations to pay the Subscription Fee under the KOHO Credit Building Bundle Terms and Conditions. We may terminate or suspend this Agreement and the KOHO Line of Credit at any time for any reason. Upon any termination, suspension or expiry of this Agreement and/or the KOHO Line of Credit, for any reason, you agree and are required to immediately repay to KOHO the full outstanding balance amount of the KOHO Line of Credit (if any). For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

9. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.


10. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to KOHO Line of Credit. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you have an outstanding balance on your Line of Credit, if you request new funds from your KOHO Line of Credit or if you make a repayment after we have made a change to this Agreement, you will be considered to have agreed to the change.

11. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party. 

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, KOHO Line of Credit, or in respect of our provision of KOHO Line of Credit or our suspension or termination of KOHO Line of Credit.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

AODA: Integrated Accessibility Standards Regulation (IASR)

Employment, Information & Communications, Customer Service & Built Environment Policy

Intent

KOHO is committed to providing a barrier-free environment for all stakeholders, including KOHO Users, employees, job applicants, suppliers, and any visitors who enter the KOHO office, work for KOHO, access information provided by KOHO, or use the KOHO product.

KOHO will work to break down the barriers that prevent or limit persons with disabilities from employment, use of the KOHO product, the KOHO office, and information and communication through the implementation of accessibility standards.

Definitions

Accessible formats: Include but are not limited to large print, recorded audio and electronic formats, braille, and other formats usable by persons with disabilities.

Assistive device: A technical aid, communication device, or other instrument that is used to maintain or improve the functional abilities of people with disabilities.

Communication supports: Captioning, alternative and augmentative communication supports, plain language, sign language, and other supports that facilitate effective communications.

Conversion-ready: An electronic or digital format that facilitates conversion into an acceptable format.

Disability: The temporary, prolonged, or permanent reduction or absence of the ability to perform certain commonplace activities or roles sometimes referred to as activities of daily living.

Service animal: An animal that can be recognized by visual indicators such as a vest or harness that is being used by an individual with a disability for reasons relating to the person’s disability.

Support person: Another person who accompanies an individual with a disability in order to help with communication, mobility, personal care, medical needs, or access to goods and services.

Guidelines

General

Establishment of Accessibility Policies and Plans

KOHO will develop, implement, and maintain policies governing how it will achieve accessibility through these requirements.

KOHO will include a statement of its commitment to meeting the accessibility needs of persons with disabilities in a timely manner in its policies. These documents will be made publicly available in an accessible format upon request.

KOHO will establish, implement, maintain, and document a multi-year accessibility plan outlining its strategy to prevent and remove barriers and meet its requirements under the IASR. Accessibility plans will be made available in an accessible format upon request and will be posted on our website.

KOHO will review and update its accessibility plan once every five years and will establish, review, and update our accessibility plans in consultation with persons with disabilities or an advisory committee. Annual status reports will be prepared that will report on the progress of the steps taken to implement KOHO’s accessibility plan. This status report will be posted on our website. If requested, the report will be created in an accessible format.

Procuring or Acquiring Goods and Services, or Facilities

KOHO will incorporate accessibility criteria and features when procuring or acquiring goods, services, or facilities. The only exception is in cases where it is impracticable to do so.

Training Requirements

KOHO will provide training on the IASR accessibility requirements and Ontario’s Human Rights Code as they pertain to individuals with disabilities. This applies to all employees and volunteers, individuals who participate in developing KOHO policies, and all other persons who provide goods, services, or facilities on KOHO’s behalf. Training will be provided as soon as is reasonably practicable, but no later than June 30, 2021. Training will be provided regularly to new employees and as changes to KOHO’s accessibility policies occur.

Records

KOHO will maintain records on the training provided, when it was provided, and the number of employees who were trained.

Employment

KOHO will make every effort to identify, remove, and prevent barriers by developing inclusive employment procedures that support persons with disabilities with accommodations during the recruitment and selection stages, and throughout the employment life cycle.

Recruitment and Hiring

KOHO understands that improving workplace accessibility and ensuring an accessible recruitment and selection process for applicants with disabilities can expand the pool of talented candidates. Upon request, KOHO will provide candidates with reasonable accommodations during the interview and selection process. Where an accommodation is requested, KOHO will consult with the applicant to arrange suitable accommodations, such as providing the application in an alternate or accessible format.

KOHO interview process will focus on experience and skills and will not discriminate against candidates who have a disability or require an accommodation. KOHO is committed to hiring decisions that are unbiased and based on qualifications and past experience. Successful candidates will be made aware of policies and supports for accommodations upon completion of the recruitment process.

Training and Development

KOHO recognizes that skills development and career planning can enrich the employment experience, increase engagement, and reduce turnover for individuals with disabilities. KOHO will align training and development programs to meet the needs of employees with disabilities and provide training as soon as reasonably practicable upon the person being assigned to applicable duties. Training programs will be designed with flexibility to allow customization for the individual requirements of the employee, such as providing training materials in accessible or conversion-ready formats that take into account the needs of the employee. KOHO will consider employee barriers when implementing performance management processes, or when offering career development, employment support, or advancement opportunities.

Communication

KOHO will provide or arrange for accessible formats and communication supports for employees, upon request. KOHO will consult with the employee to determine the specific barrier and the best way to provide support. Such accessible formats and communication supports are conversion-ready and will be provided in a timely manner and at no additional cost to employees.

When communicating with or providing information to an employee who requires accommodation or assistance due to a disability, KOHO will ensure that all communication with the individual is completed in a manner that takes into account the individual’s disability. Where an assistive device is used, KOHO will reasonably accommodate the use of the device.

Emergency Response

If necessary or if requested, KOHO will create individualized workplace emergency response plans for employees with disabilities. The emergency response plan will consider the unique challenges created by the individual’s disability and the physical nature of the workplace and will be created in consultation with the employee. If an employee with a disability requires assistance from a support person during an emergency, KOHO will designate a fellow employee to act as such.

Customized emergency response plans will be reviewed when:

  • The employee moves to a different physical location in the organization;

  • The employee’s overall accommodation needs, or plans are reviewed; or

  • KOHO reviews general emergency response policies.

Accommodation

The duty to accommodate is required of all employers, in all jurisdictions in Canada, and encompasses providing respect and dignity, individualized accommodation, integration and participation, and barrier-free designs. KOHO will provide individual accommodations to support the needs of employees with disabilities. Personalized accommodation plans will be designed to allow employees to contribute and participate in job related functions and activities to the best of their abilities. The process of accommodating individuals will take a consultative approach and is a shared obligation of KOHO, the employee, and any applicable professionals required to assist the employee throughout the process.

Return to Work

KOHO is committed to a supportive return-to-work program and will develop and implement return-to-work processes for employees who are absent from work due to a disability and require accommodations in order to return to work. KOHO will work with the employee to develop an individualized return-to-work plan and support the employee in the transition period by addressing any barriers. The return-to-work process will outline the steps KOHO will take to facilitate the employee’s return to work and use documented individual accommodation plans.

Redeployment

If an employee cannot be accommodated in their current position, even with accommodations to either the job processes or hours, KOHO will consider redeployment by placing the employee in an alternative position within KOHO. The People & Culture team will work with the employee to determine whether there is another available position. If the accommodation requires a substantial change in the position, involving duties or hours, the position may be redesigned.

Inability to Accommodate

KOHO will provide workplace accommodation up to the point of undue hardship. Undue hardship may occur where it is established that no forms of appropriate accommodation exist, or where the creation of accommodation would create a health and safety hazard or cause unreasonable costs for the organization.

Where a necessary accommodation is found to cause undue hardship on the organization, KOHO will work to find a fair and equitable compromise that meets the needs of the employee and the organization to the greatest extent possible.

Information & Communication

Accessible Formats and Communication Supports

Unless deemed unconvertible, KOHO will provide or arrange for the provision of accessible formats and communication supports for persons with disabilities upon request. Accessible formats and communication supports will be provided in a timely manner and at no additional cost to the individual.

KOHO will account for the person’s accessibility needs when customizing individual requests and will consult with the individual making the request to ensure suitability.

KOHO will make the availability of accessible formats and communication supports publicly known.

Emergency Procedures, Plans or Public Safety Information

KOHO will ensure that all publicly available safety and emergency information, such as evacuation procedures and floor plans of the KOHO office, are provided in an accessible format or with appropriate communication supports upon request.

Accessible Websites and Web Content

KOHO will ensure that our website and web content conform to the Web Content Accessibility Guidelines (WCAG) as outlined in the IASR, and will refer to the legislation for specific compliance deadlines and requirements.

Training Resources and Materials

Upon request, KOHO will provide or arrange for the provision of the following information in an accessible format to past, current, and potential employees with disabilities:

  • Training resources and materials;*

  • Program information, such as course requirements, descriptions, and availability.

Accessible formats will account for the needs of the individual to whom the material is being provided.

*Training resources and materials may be provided in an accessible or conversion-ready format.

Training for Coaches & Facilitators

In addition to the general training requirements, KOHO will provide all coaches and facilitators with accessibility awareness training.

Records

KOHO will maintain a record of all training provided. Training will include the dates when training was provided and the number of people who were trained.

Producers of Educational or Training Materials

KOHO will create and make available accessible or conversion-ready materials, including textbooks and print-based supplementary learning resources upon request.

Exceptions

The Information and Communications Standards do not apply to:

  • Products and product labels;

  • Unconvertible information or communications; or

  • Information that the organization does not control either directly or indirectly through a contractual relationship.

Unconvertible Information or Communications

If it is determined in consultation with the requesting party that information or communications are unconvertible, KOHO will ensure that the individual who made the request is provided with an explanation and a summary of the information.

KOHO will classify information or communications as unconvertible where:

  • It is not technically practicable to convert; or

  • The technology required to make the conversion is not readily available.

Customer Service

Access to Product & App

KOHO will seek to provide barrier-free access to the KOHO product and app for all users. Accessibility requirements will be assessed and incorporated as the product and app continues to be built. Where barriers cannot be removed, alternate means for accessing the product will be provided to the best of KOHO’s ability.

Communication

KOHO understands the importance of accessible digital and non-digital forms of communication and will do its best to provide accessible types of communication and information to all individuals with disabilities. Such accessible formats and communication supports will be provided upon request, in a timely manner and at no additional cost.

Service Disruptions

Service disruptions may occur for reasons that may or may not be within the control or knowledge of KOHO. In the event of any temporary disruptions to services that users with disabilities rely on to access or use the KOHO product and services, reasonable efforts will be made to provide advance notice.

When disruptions occur, KOHO will:

  • Update the KOHO app with information about the disruption;

  • Contact users by any other method that may be reasonable under the circumstances.

KOHO will make every reasonable effort to indicate when services will resume and suggest alternatives that can be utilized during the disruption. In some circumstances, such as in the situation of unplanned temporary disruptions or emergencies, advance notice may not be possible.

User Feedback

User feedback can lead to improved service, increased clientele, and a reduction in complaints. KOHO will ensure that feedback can be provided by users with disabilities through a variety of mechanisms, such as by phone, e-mail, or social media. Feedback forms, along with alternate methods of providing feedback verbally (by telephone) or written (mail, website, or e-mail), will be available upon request.

Customers who provide formal feedback will receive acknowledgement of their feedback, along with any resulting actions based on concerns or complaints that were submitted.

Building Accessibility

KOHO will work to ensure that the KOHO Office, including building interior and exterior, are designed to facilitate barrier-free access to goods or services for employees. If areas of the built environment are not accessible for certain individuals with disabilities, KOHO will work with the individual to provide an alternate means of access.

Multi-Year Accessibility Plan for Integrated Accessibility Standards Regulation

Intent

This 2021 to 2022 accessibility plan outlines the policies and actions that KOHO will put in place to improve opportunities for people with disabilities in accordance with the requirements communicated under the Integrated Accessibility Standards, Ontario Regulation 191/11.

Statement of Commitment

KOHO believes in equal opportunity and is committed to providing a barrier-free environment that allows all people to maintain their independence and dignity. This barrier-free environment extends to our employees, users, job applicants, and any visitors who may enter our virtual or physical office space. As an organization, we respect and uphold the requirements set forth under the Accessibility for Ontarians with Disabilities Act (2005) and its associated Regulations and strive to meet the needs of individuals with disabilities in a timely and effective manner.

KOHO understands that we have a responsibility for ensuring a safe, dignified, and welcoming environment for everyone. We are committed to ensuring our organization’s compliance by incorporating accessibility legislation into our policies, procedures, equipment requirements, training, and best practices. We will review these policies and practices annually, as organizational changes occur, or in anticipation of compliance deadlines. In addition, we will strive to meet the needs of individuals with disabilities in a timely and effective manner.

Providing an accessible and barrier-free environment is a shared effort, and we are committed as an organization to working with the necessary parties to make accessibility for all a reality.

If you encounter web content that you are unable to access due to a web accessibility issue, please email accessibility@koho.ca.

Plan

Requirements

Planned Action

Responsibility

Target Date

General Requirements

Accessibility policies, practices & procedures

  • Publish KOHO’s commitment to AODA and related policies & procedures
  • Make available to employee on Notion
  • Make available externally on KOHO’s website

People and Culture

June 30, 2021

Multi-year accessibility plan

  • Develop a multi-year plan and outline a strategy to prevent and remove barriers and address the current and future requirements of AODA

Employment

Recruitment & Hiring

  • Add accessibility and accommodation commitment statement in all job descriptions

June 30, 2021

Training & Development

  • Provide training to all employees on the requirements of the Regulation and on the Human Rights Code as it pertains to persons with disabilities
  • Add training to onboarding program
  • Provide specific training for User Success Agents who are interacting with the public on behalf of KOHO
  • Provide specific training for all coaches, facilitators or persons involved in the creation or facilitation of employee training at KOHO
  • Maintain a record of the dates when training is provided and the number of individuals to whom it was provided
  • Training will re-occur when there are changes to the accessibility policies

People and Culture

June 30, 2021

Communication

  • Develop a policy committing to making information and communication systems and platforms accessible to persons with disabilities and outline the process for achieving this

People and Culture

Emergency Response and Procedures

  • Update emergency procedures to ensure they meet the needs of persons with disabilities
  • Upon request, provide the information in an accessible format or with communication supports as soon as practicable
  • Consult any persons with a disability in the case of a request for an alternative accessible format and communication supports

People and Culture

Return to Work Plans

  • Partner with a return to work specialist (Acclaim) to consult on the development of individualize return to work plans as needed

People and Culture

Information & Communication

Accessible Website & Web Content

  • KOHO website and web content on those sites to conform with WCAG 2.0 level AA

Marketing

2021

Customer Service

User Feedback

  • Implement a mechanism for collecting feedback from users in multiple forms (phone, mail in form, email, social media, etc.)
  • Include publicly available contact details for users to provide feedback specifically about KOHO’s accessibility of content

User Success

2021

App Accessibility

  • Assess accessibility of KOHO app, develop a plan to address current accessibility barriers, and consider accessibility requirements as the app evolves

Product

2022

Built Environment

Building Accessibility

  • Liaise with Toronto Carpet Factory to understand current accessibility standards and publish policy information on Notion
  • Liaise with Toronto Carpet Factory to understand current accessibility standards and publish policy information on Notion
  • Ensure that any new spaces obtained are a barrier-free design for current and future employees with disabilities
  • Ensure that any spaces rented or obtained for future company events will feature barrier free design

People and Culture

2021

Transportation

Transportation

  • This standard does not apply to KOHO

KOHO Instant Pay Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO Instant Pay no-fee, no-interest line of credit facility (“KOHO Instant Pay”) extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”). By requesting KOHO Instant Pay through KOHO, you agree to these terms and conditions.

1. Definitions:

In this Agreement, the following terms have the following meanings:

  • “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO application.

  • “Payroll Direct Load” means a form of load where you enter into a direct deposit arrangement with your employer so that your payroll is automatically paid in a manner that permits it to be loaded into your KOHO Account.

  • “KOHO App” means the KOHO application downloaded from the App Store or Google Play Store, as well as any affiliated web interface(s) made available to sign-up for KOHO and access KOHO Instant Pay.

2. Eligibility:

To access KOHO Instant Pay, you must be in good standing with KOHO which means:

  • you must sign-up for a KOHO Account;

  • your KOHO Account must be active; and

  • you must have Payroll Direct Load set up on your KOHO Account, evidenced by having had at least one Payroll Direct Load into your KOHO Account or you must link an existing bank account to your KOHO account.

Failure to repay any payment due on your KOHO Instant Pay will automatically make you ineligible for future participation in the KOHO Instant Pay program.

KOHO will not obtain your credit score or credit report or report to any credit bureau in connection with signing up for a KOHO Account or KOHO Instant Pay without your consent.

By signing up for KOHO Instant Pay, you consent to KOHO collecting and using information from your payroll provider, employer or other related organization for the limited purpose of offering this program. If your payroll provider, employer or other related organization is unable to disclose your information to us, you may be unable to participate in the KOHO Instant Pay program.

3. Line of Credit:

KOHO Instant Pay is a no-fee, no-interest line of credit:

KOHO Instant Pay Limit: You can see your credit limit in your monthly statement, accessible in the KOHO App
Interest: 0%
Non-Interest Charges: None
Minimum Payment: Total amount of any outstanding Instant Pay Advance(s) on the Payment Due Date
Payment Due Date: The date of your next paycheque or Payroll Direct Load
NSF Fee: $0
Statements: Information about your KOHO Instant Pay and repayments will be made available in your monthly statement, accessible in the KOHO App

To obtain information about your account or your Line of Credit, please contact KOHO through the KOHO App or by calling customer service at 1-855-564-6999.

4. How it Works

If you meet the eligibility criteria above and you have opted-in to KOHO Instant Pay through the KOHO App, you can request an advance on your KOHO Instant Pay line of credit at any time (an “Instant Pay Advance”) up to your KOHO Instant Pay credit limit. Each Instant Pay Advance request may be for a set amount based on your current gross earned wages (your "Earnings"), as follows:

  • up to 50% of Earnings if you have Payroll Direct Load set up. For example, if you have $100 in Earnings, you can request an Instant Pay Advance of up to $50 to be immediately credited into your KOHO Account.

  • up to 30% of Earnings if you’ve linked an existing bank account. For example, if you have $100 in Earnings, you can request an Instant Pay Advance of up to $30 to be immediately credited into your KOHO Account.

At your request, and for immediate access, we will transfer your Instant Pay Advance to another Canadian bank account for a $3.50 service fee or to your KOHO account for a $2 service fee. Alternatively, you can still have access to your Instant Pay Advance for free on the next business day. We may change the amount of the fee as KOHO Instant Pay develops. We will provide you with notice of any changes in fees, in accordance with the notice section of these Terms.

Your Earnings information and KOHO Instant Pay credit limit will be displayed in the KOHO App. KOHO receives the Earnings information directly from your employer or a related party, who is solely responsible for its accuracy and the timeliness of transmission for the purposes of enabling your access.

5. Repayment

By requesting an Instant Pay Advance, you promise to repay us the Minimum Payment on each Payment Due Date or an earlier date should you wish to do so. Repayment of each of your Instant Pay Advances will be made by pre-authorized debit (PAD) to your KOHO Account or, if there are insufficient funds in your KOHO Account to repay the Minimum Payment of an Instant Pay Advance on a given Payment Due Date, by PAD to your linked existing bank account, in either case with the effective date of the PAD authorization being the date at which you opt into KOHO Instant Pay. This is a personal PAD. You are entitled to prepay the full outstanding balance of your KOHO Instant Pay Advance at any time without any prepayment charge or penalty.

You authorize KOHO to debit the account provided by you for all amounts owed to us from time to time under the KOHO Instant Pay Terms and Conditions, and Cardholder Agreement.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to KOHO Instant Pay or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any KOHO Instant Pay Advance at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. To more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO App or at 1-855-564-6999.

6. Transaction Details

Any Instant Pay Advance that you request and the details of your repayments will be reflected in the KOHO App. If you notice an item in error and wish to dispute it, you must inform customer service via in-app chat or by calling 1-855-564-6999 within 90 days of the date that the item was first posted to the KOHO App. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

7. Communications and Notifications

KOHO will communicate with you by way of the KOHO App, e.g., once your earned funds are available for withdrawal. In addition to this method of communication, KOHO may contact you and provide notices via email. When we use email, we will send you electronic correspondence, including notifications, to the email address you provide to us through the KOHO App on sign-up. It is your responsibility to keep your email address up to date. You understand that if you do not keep your email address up to date, we may not be able to complete the sign-up process or otherwise contact you.

8. Default

You will be in default under this Agreement if you:

  • fail to repay a Minimum Payment on a Payment Due Date, or if we believe for any reason that you that you will be unable to make a Minimum Payment or otherwise repay an Instant Pay Advance;

  • cancel or revoke the PAD authorization without a replacement authorization;

  • close your KOHO Account or are in default under your KOHO Cardholder Agreement;

  • have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement;

  • commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or

  • die.

If you are in default for any of the above reasons, we may, in our discretion:

  • request that you repay any outstanding Instant Pay Advance immediately;

  • suspend or terminate access to future Instant Pay Advances; and/or

  • suspend or terminate your KOHO Account.

9. Termination

You may terminate this Agreement or the ability for us to withdraw your funds by way of PAD at any time by withdrawing from KOHO Instant Pay within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the KOHO Instant Pay program at any time. If this Agreement is terminated by you or by KOHO, you must immediately repay the amount of any outstanding KOHO Instant Pay. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

10. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy. You can find a copy of KOHO Privacy Policy at: https://www.koho.ca/legal#PrivacyPolicy

11. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to KOHO Instant Pay. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you have an outstanding Instant Pay Advance, if you request a new Instant Pay Advance or if you make a repayment after we have made a change to this Agreement, you will be considered to have agreed to the change.

12. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.


We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party without notice to you.

You hereby expressly waive any and all rights of set-off that you have, may have, or be entitled to, in law, in equity, or otherwise, relating to, or deriving from:

  • this Agreement, the KOHO Instant Pay, any financing agreement, related agreement or document or of any applicable laws; and

  • any loan or other indebtedness that may now or in the future be owing or deemed to by owing to you to KOHO or its successors and assigns.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, KOHO Instant Pay, or in respect of our provision of KOHO Instant Pay or our suspension or termination of KOHO Instant Pay.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

KOHO Instant Pay is a service exclusively offered by KOHO and not by Peoples Trust Company.

Effective Date: August 25th, 2021



KOHO Cover Bundle Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the services extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”) from time to time (the “Cover Bundle”) as set out in more detail below. By subscribing to the Cover Bundle through the KOHO App, you agree to these terms and conditions.

1. Definitions

In this Agreement, “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO App.

2. Eligibility

To access the Cover Bundle, your KOHO Account must be in good standing which means your KOHO Account must be active and you must have activated your physical card. KOHO reserves the right to add additional eligibility criteria in its sole discretion. Failure to repay any Subscription Fee or any other amount that was owed to KOHO will automatically make you ineligible for future access to Cover Protection. This program is not available for residents of Saskatchewan.

3. Cover Bundle

The Cover Bundle is a subscription service that provides access to a collection of KOHO products and services in exchange for the monthly fee disclosed in the signup process in your KOHO App (“Subscription Fee”). The term of the Cover Bundle is one (1) month (“Subscription Term”) and includes:

  • Unlimited access to our in-house financial coach;

  • Ability to opt in to Cover Protection;

On the expiration of the Subscription Term, the Subscription Term will automatically renew for a further thirty (30) days unless you have canceled your subscription in the KOHO App, you have missed a Subscription Fee payment, you are otherwise in default (as described below) or this Agreement has been terminated (a “Termination Event”).

4. How it Works

If you meet the eligibility criteria above and you have opted-into the Cover Bundle through the KOHO App, you will have access to the above-noted bundle of services. When you subscribe to the Cover Bundle, we will automatically deduct the Subscription Fee from your KOHO Account by way of pre-authorized debit (PAD) as set out in the following section. Please refer to the terms and conditions for KOHO Cover Protection for more details on the credit extended to you.

5. Payment

Payment of the Subscription Fee will be made by PAD to your KOHO Account with the effective date of the PAD authorization being the date at which you opt into the Cover Bundle. This is a personal PAD. You authorize KOHO to debit your KOHO Account monthly for the Subscription Fee, beginning on the date on which you opted into the Cover Bundle, continuing until a Termination Event.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against your KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to the Cover Bundle or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment on any line of credit balance or outstanding Subscription Fees at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this authorization. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD authorization. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO app or at 1-855-564-6999.

6. Default

You will be in default under this Agreement if you:

  • a) fail to pay the Subscription Fee, your payment is returned to us or dishonoured, or if we believe for any reason that you will be unable to pay the Subscription Fee,

  • b) cancel or revoke the PAD authorization without a replacement authorization;

  • c) close your KOHO Account or are in default under your KOHO Cardholder Agreement,

  • d) are in default under the KOHO Cover Protection Terms and Conditions,

  • e) have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement,

  • f) commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or

  • g) die.

If you are in default for any of the above reasons, we may, in our discretion:

  • a) request that you repay any outstanding Subscription Fee immediately (subject to applicable law);

  • b) suspend or terminate access to the Cover Bundle or any other services that KOHO may make available from time to time; and/or

  • c) suspend or terminate your KOHO Account without notice.

7. Termination

You may terminate this Agreement and our ability to withdraw funds by way of PAD at any time by withdrawing from the Cover Bundle within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the Cover Bundle program at any time. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

8. Limitation of Liability

By opting into the Cover Bundle, you agree that the use of the financial coaching service does not constitute financial or investment advice and should not be interpreted as such. The information received through the financial coach should be reviewed by an independent financial or investment professional. You are solely responsible for your own financial and investment research and decisions and KOHO will not be responsible for any loss or damage you may incur as a result of your use of the financial coaching service or any other service that KOHO may make available in the Cover Bundle.

9. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy.

10. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria, the offerings within the Cover Bundle or any of the other terms and conditions relating to Cover Bundle. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you do not cancel your subscription to the Cover Bundle or if you use the Cover Bundle services after we have made a change to this Agreement, you will be considered to have agreed to the change.

11. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, Cover Bundle, or in respect of our provision of Cover Bundle or our suspension or termination of Cover Bundle.

This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

KOHO Cover Protection Terms and Conditions

This agreement (the “Agreement”) outlines the terms & conditions that govern the KOHO Cover Protection service (“Cover Protection”) which is an open credit facility extended to you by KOHO Financial Inc. (“KOHO”, “we” or “us”) for use with your KOHO Account. By requesting access to Cover Protection through the KOHO App, you agree to these terms and conditions.

1. Definitions

In this Agreement, “KOHO Account” means your regular, Joint or Premium account or a combination thereof with KOHO to facilitate your spending/savings conducted via your KOHO Card (plastic, metal, Premium or Joint) supported by the KOHO App.

“KOHO App” means the KOHO application downloaded from the App Store or Google Play Store, as well as any affiliated web interface(s) made available to sign-up for KOHO and access Cover Protection.

2. Eligibility

To access Cover Protection, you must have an active KOHO Account and you must have subscribed to the Cover Bundle. KOHO reserves the right to add additional eligibility criteria in its sole discretion.

Failure to repay any Cover Advance will automatically make you ineligible for future access to Cover Protection. KOHO may obtain your credit score or credit report and may report to a credit bureau(s) in connection with providing Cover Protection.

3. How it works

If you meet the eligibility criteria above and you have opted in to Cover Protection through the KOHO App, you will be issued a line of credit in the amount shown in the KOHO App (a “Cover Advance”).

You may cancel your enrolment in Cover Protection at any time through the KOHO App. Upon cancellation, no further Cover Advances will be extended and any outstanding Cover Advance(s) will be due on the next Payment Due Date.

4. Cost of Credit

There are no fees and no interest payable on any Cover Advance:

Cover Advance Credit Limit: You can see your credit limit in your monthly statement, accessible in the KOHO App
Interest: 0%
Non-Interest Charges: None
Minimum Payment: None, unless enrolment in Cover or the Cover Bundle has been canceled, a Cover Bundle Subscription Fee payment has been missed or this Agreement has been terminated (a “Termination Event”), in which case the full amount of the Cover Advance will be due immediately.
Payment Due Date: Immediately upon a Termination Event
NSF Fee: $0
Statements: Information about your Cover Advance repayments will be made available in your monthly statement, accessible in the KOHO App

To obtain information about your account or Cover Protection, please contact KOHO through the KOHO App or by calling customer service at 1-855-564-6999.

5. Repayment

By enrolling in Cover Protection, you promise to repay us the Minimum Payment on each Payment Due Date or an earlier date should you wish to do so.

Payment of the Minimum Payment on each Payment Due Date will be made by pre-authorized debit (PAD) to your KOHO Account with the effective date of the PAD authorization being the date at which you enrol in Cover Protection. If any payment date falls on a weekend or statutory holiday, such amount will be debited by KOHO on the next business day. This is a personal PAD. You are entitled to prepay the full outstanding balance of your outstanding Cover Advance(s) at any time without any prepayment charge or penalty. If your KOHO Account does not hold sufficient funds to pay the Minimum Payment on the Payment Due Date, we may charge you the balance of your KOHO Account and collect the remainder of the amount owing from you.

If you do not have sufficient funds in your KOHO Account to pay the Minimum Payment on a Payment Due Date, in addition to our rights set out in Section 8, the next time you load funds into your KOHO Account, you authorize us to deduct the Minimum Payment from those funds and your KOHO Account balance will be reduced accordingly.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against the KOHO Account.

You may revoke this PAD authorization at any time upon providing 10 business days’ notice to KOHO. You may obtain a sample cancellation form, or more information on your right to cancel a PAD authorization at your financial institution or by visiting www.payments.ca.

If you cancel or revoke our ability to withdraw funds by PAD for these purposes, we may suspend or terminate your access to Cover Protection or to your KOHO Account until you provide a new authorization or another repayment method that is acceptable to us, in our sole discretion. We reserve the right to demand repayment of any Cover Advance at any time, upon notice to you.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. To more information on recourse rights, contact your financial institution or visit www.payments.ca.

For any questions about this PAD authorization, contact KOHO through the KOHO App or at 1-855-564-6999.

6. Transaction Details

Any Cover Advance that is extended on your KOHO Account, and the details of your repayments, will be reflected in the KOHO App. If you notice an item in error and wish to dispute it, you must inform customer service via in-app chat or by calling 1-855-564-6999 within 90 days of the date that the item was first posted to the KOHO App. If you don’t notify us within that time period, then you agree that your transactions and balances are accurate and you will not be permitted to dispute them later. We may debit or make adjustments to your KOHO Account at any time for any amount that was credited in error.

7. Communications and Notifications

KOHO will communicate with you by way of the KOHO App, e.g., if we have extended an Cover Advance to you. In addition to this method of communication, KOHO may contact you and provide notices via email. When we use email, we will send you electronic correspondence, including notifications, to the email address you provide to us through the KOHO App on sign-up. It is your responsibility to keep your email address up to date. You understand that if you do not keep your email address up to date, we may not be able to complete the sign-up process or otherwise contact you.

8. Default

You will be in default under this Agreement if you:

  1. fail to repay a Minimum Payment on a Payment Due Date, or if we believe for any reason that you will be unable to make a Minimum Payment or otherwise repay an Cover Advance;

  2. cancel or revoke the PAD authorization without a replacement authorization;

  3. close your KOHO Account or are in default under your KOHO Cardholder Agreement;

  4. have provided us with any false information, fail to maintain the eligibility criteria or if you fail to comply with any part of this Agreement;

  5. commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or

  6. die.

If you are in default for any of the above reasons, we may, in our discretion:

  1. request that you repay any outstanding Cover Advance immediately;

  2. suspend or terminate access to future Cover Advances; and/or

  3. suspend or terminate your KOHO Account.

9. Termination

You may terminate this Agreement or the ability for us to withdraw your funds by way of PAD at any time by withdrawing from Cover Protection within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the Cover Protection program at any time. If this Agreement is terminated by you or by KOHO, you must immediately repay the amount of any outstanding Cover Advance. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

10. Privacy

Your privacy is important to us. KOHO will collect, use and disclose your personal information in accordance with our Privacy Policy. You can find a copy of KOHO Privacy Policy at: https://www.koho.ca/legal#PrivacyPolicy

11. Amendments

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to Cover Protection. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes. If you have an outstanding Cover Advance, if you request a new Cover Advance or if you make a repayment after we have made a change to this Agreement, you will be considered to have agreed to the change.

12. General

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party without notice to you.

You hereby expressly waive any and all rights of set-off that you have, may have, or be entitled to, in law, in equity, or otherwise, relating to, or deriving from:

a. this Agreement, the Cover Protection service, any financing agreement, related agreement or document or of any applicable laws; and

b. any loan or other indebtedness that may now or in the future be owing or deemed to by owing to you to KOHO or its successors and assigns.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, Cover Protection, or in respect of our provision of Cover Protection or our suspension or termination of Cover Protection.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

Cover Protection is a service exclusively offered by KOHO and not by Peoples Trust Company.

Effective Date: 03/2022

Premium Plus Card Benefits Terms and Conditions

By requesting access to Premium Plus Card Benefits, you are agreeing to: (i) these Premium Plus Card Benefits terms and conditions; (ii) the KOHO Privacy Policy; (iii) the CardHolder Agreement – Visa, and all of these together are your “Agreement” with us.

If you hold a KOHO Card and have received a communication from KOHO inviting you to register for Premium Plus Card Benefits, you are eligible to opt in to “Premium Plus Card Benefits” to access additional rewards, features and offers, by opting in through your app or email. You will be charged the subscription fee disclosed in the signup process every thirty days for your continued receipt of the Premium Plus Card Benefits (the “Premium Plus Subscription Fee”).

Enrolling in the Premium Plus Card Benefits will replace your subscription to KOHO Premium. While enrolled, you will receive both the Premium Benefits and the Premium Plus Benefits. If you earn bonus interest as a result of your subscription to Premium Plus Card Benefits in excess of the interest earned as a result of your subscription to another KOHO product, such interest will be earned only on the first $1,000 of funds loaded onto the Card.

Payment of the Premium Plus Subscription Fee will be made by pre-authorized debit (“PAD”) to your KOHO Account with the effective date of the PAD authorization being the date at which you opt in to the Premium Plus Card Benefits. This is a personal PAD. If you cancel or revoke our ability to withdraw funds by PAD for these purposes, you will not have access to the Premium Plus Card Benefits until you provide a new authorization or another payment method that is acceptable to us, in our sole discretion. You authorize KOHO to debit your KOHO Account monthly for the Premium Plus Subscription Fee, beginning on the date on which you opted into the Premium Plus Card Benefits.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against your KOHO Account.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

If you wish to cancel your Premium Plus Card Benefits, you may do so at any time by selecting “Cancel KOHO Premium Plus Subscription” within the Manage KOHO Premium Plus section from within the KOHO App or by contacting KOHO customer service. You will no longer be charged a Premium Plus Subscription Fee once KOHO has received your request to cancel and you will lose access to the Premium Plus Card Benefits.

In addition to our rights set out in the Cardholder Agreement, in the case of an insufficient Card balance to cover your Premium Plus Subscription Fee on your monthly billing date, your Premium Plus Card Benefits will cease immediately and the provisions of the Cardholder Agreement regarding KOHO Cards, including fees and limits, will apply from the monthly billing date on which your Card balance was insufficient.

You may terminate this Agreement and our ability to withdraw funds by way of PAD at any time by withdrawing from the Premium Plus Card Benefits within the KOHO App or by calling customer service at 1-855-564-6999. We may terminate this Agreement or the Premium Plus Card Benefits program at any time. For any other questions about this Agreement, contact KOHO at 1-855-564-6999.

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to Premium Plus Card Benefits. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes.

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, Premium Plus Card Benefits, or in respect of our provision of Premium Plus Card Benefits or our suspension or termination of Premium Plus Card Benefits.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties.

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

Subscription Plans Terms and Conditions:

By requesting access to Subscription Plans, you are agreeing to: (i) these Tiers terms and conditions; (ii) the KOHO Privacy Policy; (iii) the CardHolder Agreement – Visa, and all of these together are your “Agreement” with us.

If you hold a KOHO Card you are eligible to opt into different tiers of card benefits to access additional rewards, features and offers, by opting in through your KOHO Account (a “Subscription Plan”). There are multiple levels of Subscription Plans, each of which offers different perks and benefits, and requires a different subscription fee. You will be charged the monthly subscription fee disclosed in the signup process (the “Plan Subscription Fee”).

For example, if you opt into a Subscription Plan on March 15, your first Plan Subscription Fee will be charged on that date, and on the 15th of each month thereafter, by deducting the fee from your Card balance. If you wish to change your Subscription Plan, you may do so at any time by selecting the relevant option within the KOHO App or by contacting KOHO customer service. You will be charged the Plan Subscription Fee for the relevant Subscription Plan on the next billing date after KOHO has received your request to change.

Enrolling in a higher tier of Subscription Plan will replace your subscription to KOHO Premium. Benefits in different Subscription Plans will be replaced and are not additive. For example, if you receive a 1% cash back reward from a Subscription Plan, and upgrade to a Subscription Plan with a cash back reward, the higher rate will replace the lower rate, rather than stacking.

Payment of the Plan Subscription Fee will be made by pre-authorized debit (“PAD”) to your KOHO Account with the effective date of the PAD authorization being the date at which you opt into a paid Subscription Plan. This is a personal PAD. If you cancel or revoke our ability to withdraw funds by PAD for these purposes, you will not have access to the paid Subscription Plans until you provide a new authorization or another payment method that is acceptable to us, in our sole discretion. You authorize KOHO to debit your KOHO Account monthly for the Plan Subscription Fee, beginning on the date on which you opted into a paid Subscription Plan.

You agree to waive all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from your KOHO Account under this agreement including, without limitation, pre-notification of the amount or payment dates of all debits drawn against your KOHO Account.

You have certain recourse rights if any PAD does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this Agreement. For more information on recourse rights, contact your financial institution or visit www.payments.ca.

In addition to our rights set out in the Cardholder Agreement, in the case of an insufficient Card balance to cover your Plan Subscription Fee on your monthly billing date, your Subscription Plan will cease immediately.

If you wish to reactivate a higher tier of Subscription Plan, you will have to manually toggle the desired Subscription Plan from within the KOHO App. You will be permitted to activate a higher tier of Subscription Plan only if you have a minimum Card balance equal to the relevant Plan Subscription Fee.


You may terminate this Agreement and our ability to withdraw funds by way of PAD at any time by withdrawing from the paid Subscription Plan within the KOHO App. We may terminate this Agreement or the Subscription Plan program at any time. For any other questions about this Agreement, contact KOHO.

We reserve the right, in our sole discretion, to modify, alter or otherwise update these terms and conditions at any time, including the eligibility criteria or any of the other terms and conditions relating to Subscription Plans. We will give you advance notice of any changes where we are required to do so by law and this Agreement will always reflect the most current terms and conditions. Changes will take effect on the date specified in any notice, or else on the date that an updated Agreement is posted on the KOHO website. Please check this Agreement regularly for any changes.

If any part of this Agreement is found by a court to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of the Agreement and will not affect the validity and enforceability of the remainder of this Agreement.

We may sell, assign, or transfer all or any of our rights and obligations under this Agreement at any time to a third party.

To the fullest extent permitted by applicable laws, KOHO will not under any circumstances be liable to you (except if you are a consumer in Quebec) or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to, Subscription Plans, or in respect of our provision of Subscription Plans or our suspension or termination of Subscription Plans.

Unless you are a Quebec consumer: This Agreement is governed by the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to this Agreement.

For Quebec consumers only:

  • The parties attorn to the jurisdiction of the courts of the province of Quebec and these terms and conditions of use shall be governed by and interpreted in accordance with the laws of the province of Quebec, without reference to its conflict of laws provisions, and the federal laws of Canada applicable therein.

  • These terms and conditions of use and all related documents have been drafted in the English language at the express request of the parties. Le présent document ainsi que tous documents s’y rattachant ont été rédigés en langue anglaise à la demande expresse des parties

The KOHO Terms of Use are incorporated by reference and continue to apply to your use of the KOHO App, website and any KOHO product or service.

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