Access
extra money

We don't perform any credit checks for when you apply to use Pay Later. However if you end up using it, missed payments may be reported to the credit bureaus.

We don't charge any interest. However, until all amounts are fully repaid, you will be charged a monthly fee that will be disclosed before you sign up for the Pay Later plan. Additionally, an NSF fee of $15 (capped at once per month) may also be charged in case a payment fails to clear.

Yes, we charge a monthly fee until all amounts in your payment plan are fully repaid. The amount of the fee will be shown in the app before you sign up for the Pay Later plan, so don’t worry about having to commit before you see the cost. If a scheduled payment can’t be collected because there aren’t enough funds in your Spendable account on the due date, a $15 NSF fee will apply. If the balance remains unpaid, additional $15 NSF fees will be charged on a monthly basis.

The Pay Later feature isn't available to everyone yet. Once you qualify for Pay Later and make an eligible transaction, you'll receive a notification inviting you to convert the eligible transactions into a payment plan. To improve your chances of getting Pay Later, we suggest that you keep using KOHO regularly and make sure to pay any subscription fees for other KOHO features on time

We have specific internal criteria and eligible merchants for Pay Later. Upon making an eligible purchase, if you qualify for Pay Later, you'll see eligible transactions in your KOHO app. However, there are general criteria that your purchases must meet: The transactions must be within a 30-day period. The transaction amounts must be over $100. The transaction amount must be within your Pay Later limit. Head to the main spend tab and select "Pay Later” to see your limit.

You can have only one active Pay Later plan at a time. However, you are allowed to merge several transactions into a single Pay Later plan.

Since your KOHO account is a prepaid Mastercard, Pay Later plan works a bit differently. You can sign up for Pay Later on an eligible purchase after you’ve made it. That means you don’t have to take a loan up front to make a purchase. Instead, the money will be deposited in your Spendable after you’ve created your Pay Later plan.

Once your Pay Later plan is successfully created, the money will be deposited into your Spendable account usually within 48 hours 🎉! Important to know: Our support agents cannot expedite this process.

Your Pay Later payments are collected automatically each month on your billing date. KOHO will always try to collect whatever amount is available in your Spendable balance, even partial payments. If a full payment can’t be collected due to insufficient funds, an NSF fee of $15 may be applied. If the payment continues to remain unpaid, additional NSF fees may be charged in subsequent months. You also have the option to pay off your plan early through the KOHO app. But keep in mind that we currently only support full payment of the remaining balance on your plan, so partial payments aren't available. To make an advance payment, simply go to your active Pay Later plan, click the calendar in the top right corner, select your current active plan and proceed to click Pay Early.