KOHO – Cashback, Rebates & Rewards

What makes it terribly sad is that I was a day one KOHO client and I remember what the company was like when product managers spoke with you and you truly felt like you mattered. While it’s not all been doom and gloom, KOHO has lost a lot of respect because it did what many startups do and scaled its business faster than it could service its clients. Awkward code, outsourced support, inconsistent communications about products and features are all true. What the other reviews here won’t tell you though is that it wasn’t always like this and anyone who has spoken to a Product Manager or even Daniel knows the passion the team has for better banking for Canadians. When KOHO works, it works awesomely and the features are quite robust. We often become entitled and expect a Big 5 Bank experience from something like this but KOHO is about informing yourself and taking the reins on your own finances. That being said, when those independent minded souls come to support, assume it means we’ve exhausted our resources. The frontline support is an insult and if anything, provides reason for Government/Agency Regulations of FinTech akin to the OBSI as adjudicator or CTRC for telecoms. Enough is enough. Fix your frontline support and your reviews will skyrocket.

I'll be honest I'm floored by the sheer… I'll be honest I'm floored by the sheer volume on negative reviews on this platform. I've been using KOHO for years and only have good things to say about it to people and so has anyone who actually ended up trying using it. They don't charge monthly fees for a basic account. They never charge any fees for bouncing a PAD payment. (usually $45 for the payer and $45 for the payee that will in return pass back onto you). They give interest on any money you have in your account (No set minimum like most banks). They don't charge any fees to withdraw money from the ATM (the ATM itself will still charge you $2 or $3 as usual). They give cashback on your purchases just like some traditional credit cards but without having to pass a credit check for the hire tier rewards cards. The reason I initially signed up for an account was because my TD Visa Debit wasn't supported with Google Pay and KOHO cards were. I was tired of having to always carry a wallet when I had a perfectly capable phone for tap payments. I was able to use tap and pay on my phone with the KOHO virtual card day one after signing up. I actually only came to ca.trustpilot.com because I wanted a reference that the company was legit in a social media post I was making that shared my promo code since I've had nothing but good experiences with them figured can't hurt to share with others and at the same time both make $20 after they register, load and spend $5 within the first 30 days. Needless to say the Trustpilot link I came for most likely won't be very useful. My guess is someone with a bad experience is far more likely to come here to review then one with a good experience which will ultimately skew the score one way.

I've been using Koho for 6 months. I've had a great experience! I will say that finding the chat for support is difficult, but I didn't find them to be slow like others did.

*** update: someone else replied and clarified it shows when you resubscribe - no reminders so disappears until you re-add. Multiple accounts of poor communication with staff however! So credit builder hits the 6th month period and it disappears unless you resubscribe - no reminders. My points dropped and its not on my file. I asked Koho agent when I resubscribe would it show the historical good payment history in the last subscription (more then 6 months). According to the agent (unless they trained him wrong), it doesn't. You start at month 1 which doesn't make any sense because we're trying to build credit and good payment history without credit checks. In short, use another provider, they don't seem to incorporate advice anyways and customer service is a hill to get through plus you lose your credit builder history - neocard and other secured credit providers don't do this - history is that important. if the agent was wrong I'll correct reivew otherwise not staying after 6 months to do good and have it lost. And will get invest more in neocard credit builder or get a secured or non-secured card elsewhere for what its worth. PS NOT promoting anything Canadas non-credit check - credit builder market is just that small sadly, I also report rent.

Started using it last 3 months. Had some issues with payment but it got resolved. Loving it so far. Nice to have cash back reward [cash back is not that big but it doesn't hurt to have few cents back on your every purchase right!] :)