The KOHO Premium Visa is a prepaid card that offers high rewards and no foreign transaction fees.

Annual Fee
Extra Card Fee
Card Type
Cash Advance
Balance Transfer
Personal Income
Household Income
Canadian resident who has reached the provincial age of majority.
Price Protection Yes

Please review your insurance certificate for details, exclusions and limitations of your coverage.

A rare, premium prepaid credit card that earns you up to 2% on your purchases.

Sign up through us using the code “CCGBONUS” and earn 1% extra cash back for the first 90 days.

Earn 2% cash back on gas, groceries, restaurants, and transit purchases.

Earn 0.5% on all other purchases.

Earn bonus rewards at select merchants with KOHO Merchant Powerups.

Easily add to your balance with either Interac e-transfer or direct payroll deposit.

Charges no foreign transaction fees, saving you 2.5% on purchases made in other currencies.

Includes price protection insurance.

Refer friends to KOHO and you'll both earn 1% extra cash back on all purchases for 90 days.

Direct deposit your payroll and earn bonus rewards.

Unlimited Interac e-transfers – they'll even cover your bank's Interac fee (if applicable).

$84 annual fee or $9 monthly fee.

Get access to free financial coaching.

One free international ATM withdraw per month.

If we find your match, we’ll give you up to $25 when you refer your friends.*

Our Review

Want a prepaid card, but also a premium experience? Then say hello to the KOHO Premium Visa. For a fee of either $84 a year or $9 a month, you'll earn great rewards while saving on other fees in the process.

How KOHO works

Before getting into the features, what is KOHO and how does it work? You're basically getting a basic chequing account with a prepaid Visa to use for purchases.

And because it's a bank account, it's easy to get money into it. You can simply send an Interac e-transfer to your account, and get it loaded instantly.

Or, you can choose to send your payroll deposit directly to your KOHO account if you want. And since KOHO has free Interac e-transfers, it's easy to send your money to another account if you need to.

As a bonus, when you send your first direct deposit into your account (of at least $500), you'll earn a bonus 0.5% cash back on all purchases for the following 90 days.

Getting cash back rewards

For simple and easy-to-use cash back rewards, the KOHO Premium Visa has some great earn rates.

You'll earn:

  • 2% cash back on groceries, restaurants, and transportation, and
  • 0.5% cash back on all other purchases.

To top it off, when you use our apply link and enter promo code CCGBONUS, you'll earn an additional 1% cash back for 90 days.

Your rewards are easy to use too. 1 - 2 days after every purchase, they get deposited into your KOHO account so you can use them for your next purchase.

KOHO also has bonuses when you refer a friend. For every friend you refer who makes their first purchase within 30 days, you'll both receive 1% bonus cash back for 90 days.

The fees that are waived

To keep your KOHO Premium Visa, you have to pay either a monthly or yearly fee. But with the fee comes extra savings as well.

Here's what having KOHO Premium will save you, on top of what the offers.

No foreign transaction fees

Most credit and prepaid cards charge a foreign exchange fee of 2.5%. But not KOHO Premium. In fact, you'll pay no fee at all. Save that 2.5% for yourself on all your purchases that are made with your KOHO Premium Visa.

1 free international ATM withdrawal per month

Travelling outside the country?

Your KOHO Premium account comes with 1 free ATM withdrawal every month, saving you up to $5 if you need some cash and you're outside of Canada.

KOHO also charges no ATM fees inside Canada as well.

Price matching

KOHO Premium also has a rare insurance coverage – price matching. If something you recently purchased goes down in price, KOHO can help you get the difference credited to you.

How does it work? Scan the transactions in the app and look for a magnifying glass next to it – this purchase is eligible for price matching.

Simply take a picture of your receipt using your phone's camera and upload it through the app, or send your emailed receipts to [email protected].

If KOHO finds a deal you may have missed, they'll either credit your account automatically or let you know how you can get your price match.

It's a great tool to help save money and get you the best deal possible.

In summary

KOHO has a great offering for a premium prepaid card – perks, low fees, and great rewards.

But if you don't like the annual or monthly fee involved, then take a look at the , which also offers rewards on every purchase.

The best part? It's easy to switch back and forth between the 2 if you find that one of them isn't right for you.

What are your thoughts?

Pairs well with...

Featured In:

The Globe and Mail
Toronto Star
Financial Post
New York Times