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Overview of the KOHO Essential

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Earning categories


On gas, groceries, eating & drinking, and transportation, restaurants (including fast food & drinks)


On select merchants

Detailed card summary

Benefits & features

  • Earn 1% cash back on groceries, eating & drinking, and transportation. Plus, up to 50% extra cashback from select merchants.
  • Earn 5% interest on both your spending and savings account. Your funds will also be eligible for CDIC insurance. Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.
  • Get Essential for $0 when you set up Direct Deposit or load $1000 per month.
  • Choose from one of four exciting card colours. Receive both a physical and virtual card.
  • Start adding funds and shopping online while you wait for your physical card to arrive in the mail. No need to budge from your couch to make online purchases. Just use your virtual card!
  • Card Security – KOHO provides a different card number to help protect your physical card number when you’re shopping or booking services online
  • Add your KOHO card to Apple, Samsung or Google Pay
  • Automate your savings with Goals and RoundUps. Rounding up every purchase lets you stash away some savings, while Goals make it easier to save for whatever it is that makes you happy
  • Lock in savings with Vault that keeps the funds you don’t want to spend separate from your spendable balance
  • Create custom budgets and track your spending habits. Know where you’re at in real time with instant notifications every time you spend.

How to redeem

How to get approved