KOHO Review
What KOHO offers, how the referral bonus works and whether it's worth signing up.
Last reviewed: October 2026
Overall Rating
The KOHO referral code KOHOBONUS40 pays $40 after a single purchase of $20 or more, which makes it one of the larger and easier bonuses in its category. The no-fee card, the cashback on groceries and transport, and the credit building tool give you reasons to keep it afterward.
About KOHO
Founded in 2014 in Toronto, KOHO has grown to serve over 1 million Canadians. Your KOHO balance is held in trust at Peoples Bank of Canada, a CDIC member institution, providing up to $100,000 in deposit protection.
KOHO offers a no-fee prepaid Visa card with cashback, up to 3.5% interest on your balance, a credit building feature, and tools like RoundUps and Instant Pay to help you save more and spend smarter. Use code KOHOBONUS40 or click Get Started to claim your $40 sign-up bonus.
1M+
Canadians use KOHO
Up to 3.5%
Interest on your balance
Founded 2014
Toronto-based fintech
CDIC Protected
Funds held at Peoples Bank
What KOHO Offers
The main products you get with a KOHO account.
KOHO Prepaid Visa
A Visa prepaid card linked to your KOHO account. Spend anywhere Visa is accepted and earn cashback on every purchase. No credit check required.
KOHO Savings
Earn up to 3.5% interest on your entire balance with no minimum deposit and no lock-in periods. Interest compounds daily and is paid monthly.
KOHO Credit Building
Build your credit score without a hard credit check by subscribing to KOHO's credit building feature, which reports positive payment history to Equifax.
KOHO Premium
An optional paid plan that unlocks higher cashback rates, free international transfers, financial coaching, and zero foreign transaction fees.
RoundUps
Automatically round up every purchase to the nearest dollar and transfer the difference into your savings. A simple, hands-off way to save more.
Instant Pay
Access up to $100 of your upcoming paycheck early at no cost, helping you cover expenses before payday without a loan.
Key Features
What stands out about KOHO in everyday use.
- $40 cash bonus when you sign up with code KOHOBONUS40 and make your first purchase
- No monthly fees on the base KOHO account, ever
- Up to 3.5% interest on your entire KOHO balance
- Earn 1–2% cashback on groceries, eating and drinking, and transportation
- Build your credit score with KOHO Credit Building, no hard credit check
- Zero foreign transaction fees on KOHO Premium
- Instant peer-to-peer money transfers to other KOHO users
- RoundUps to automatically grow your savings with every purchase
- No minimum balance and no overdraft fees
- Virtual card available immediately, use with Apple Pay and Google Pay
Is KOHO Right for You?
It's a good fit if
you want a no-fee everyday card with cashback.
You might skip it if
you need a savings or investing platform as your main account.
Ready to claim your $40 bonus?
See how the KOHO referral code works, the terms to watch for and the steps to claim it.
KOHO Referral Code