KOHO Prepaid Visa

KOHO Regular Plan:

- Comes with no annual fee

- Gives you 0.5% cashback on everything

- Has all the features of KOHO debit card

- 1.5% exchange fee for foreign transactions

- ATM fees in another country of $2-$3

What is KOHO?

KOHO is a physical pre-paid VISA card that integrates flawlessly with a mobile app that lets you stay in control of your spending. This card is free and can be loaded with a certain amount of money.

You can use the KOHO card to make purchases to your favourite retailers, earn cash back, round up your purchases in order to save the change, and gain access to the Premium features which offers you additional benefits.

Basically, KOHO is a one-of-a-kind hybrid card that offers you the best of both worlds. First, it allows you to spend your hard-earned cash and even get some money back. Second, it allows you to spend money overseas.

KOHO Key Features and Benefits

KOHO comes with certain features and benefits that make it quite unique. Regardless of the version you choose, be it Regular or Premium, you get access to the following features:

- 1% cash back for all your purchases during the first 90 days (you need to use a referral code)

- Accepted worldwide: you can use the KOHO card in any country where VISA is accepted

- You can select your own design and colour combination to personalize your card and make it totally unique

- 0.5% Power Up cashback on any purchase after the first 90 days

- Round-Up feature: KOHO card enables you to round up your purchases in order to maximize your savings

- Comes with no NFS fees

- No interest rate whatsoever

- FX fees just 1.5%: the usual norm is 2.5%

- Easy connection to PayPal and quick online purchases

- Bill payment: you can pay your bills with ease thanks to this feature which integrates with all Canadian utility companies

- You can easily fund your account using e-transfer or direct deposit

- Leverage the joint accounts feature and get a common account with your spouse, family member or close friend

- Compatible with Apple Pay

- Real-time insights and budgeting categories to enable you to stay on top of any unforeseen payment and leverage analytics to save more money

- KOHO is the partner of Peoples Trust, a CDIC and federally regulated bank. This means that your money is safe. In the worst-case scenario of KOHO failure, you'll be able to receive your money via Peoples Trust.

KOHO Pricing

The Regular plan is free of charge. However, it takes around $2-$3 for foreign ATM withdrawals and another 1.5% for exchange rate. You have a daily transaction limit of 15 and an account balance limit of $20k. You can withdraw $600 per day from the ATM, but you get no price matching or free financial coaching.