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KOHO Easy Joint Prepaid Card review

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KOHO Easy Joint Prepaid Card
Monthly Fee
Cost per transaction
Foreign transaction fee
1% cash back

Our verdict

Share your account and earn cash back when you spend money with the fee-free KOHO Joint Prepaid Card.

KOHO offers a free prepaid reloadable Mastercard that can also work as a chequing and savings account at the same time. You can earn cashback rewards on most purchases and you can upgrade your plan to unlock additional perks. When you open a KOHO account, you will be on the free plan (Easy) and you can switch to the Joint account. Load money onto your Joint Prepaid Mastercard and use it to buy things like you would use a debit card or a regular credit card.

Best for: Those looking for a joint prepaid card that they can share with family members.


  • Unlimited 1% cash back on groceries and transportation, and up to an extra 5% cash back with select merchants
  • No monthly account fee
  • Build your savings by earning interest with KOHO Save
  • Avoid common credit card and banking fees


  • Doesn't help to improve your credit score
  • KOHO is 100% online and there is no in-person assistance available

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
Earn 1% cash back on groceries and transportation. Plus, earn 0.5% interest on your entire balance.

What is KOHO?

KOHO is an online financial platform that offers basic, premium and joint accounts to customers. Every account offers a number of different features, and each one comes with a reloadable prepaid Mastercard card that’s linked to your account balance and will let you earn cash back whenever you make purchases.

Once you load money into your account, you’ll be able to use this card wherever Mastercard is accepted. You won’t pay interest when you spend money on your card since you’re never borrowing actual “credit.” If you want to earn interest on your money while you spend, you can also choose to sign up for “KOHO Save” with any account you hold. For more, read our KOHO review.

KOHO Joint Prepaid card: the basics

If you’re looking to open a joint account with a prepaid card that will let you share your finances with a friend or loved one while you earn cash back on your purchases, check out the KOHO Easy Joint Prepaid Card.

  • No annual fee. This card has a $0 fee.
  • Cashback return. Earn Unlimited 1% cash back on groceries and transportation, and up to an extra 5% cash back with select merchants.
  • No interest. Save on interest payments since you can only use money that’s already in your account (which means you’ll never go into the red).

How does KOHO’s joint account work?

Joint accounts have many of the same features as regular accounts do, with a couple of added benefits. At least one of you need to have a regular KOHO account in order to invite the other to open a joint account. After you open your joint account, you and your partner will receive your own virtual card which you can use for online purchases until you receive your physical cards in the mail.

Here are some of the perks of using KOHO’s joint prepaid card:

  • Get cashback on all purchases that both you and your partner make
  • Easily share finances with your partner
  • Set shared savings goals
  • Get instant notifications when you or your partner spends

The perks

  • Virtual card. In addition to your physical card, you’ll also get instant access to a virtual card that you can use to make online purchases.
  • Free e-transfers. Avoid paying for e-transfers when you send money to friends and family from your account.
  • Pre-authorized debits. Get money deposited directly into your account from your paycheque or another form of government subsidy or income.
  • Joint savings tools. Set savings goals or choose to round up every dollar you spend and funnel the difference into your rainy-day fund.
  • Instant notifications. Get an alert sent directly to your phone or email whenever anyone spends money from your shared account.
  • 3rd Party e-transfers.KOHO users can now accept Interac e-Transfers from friends, family, and business accounts to their KOHO accounts.
  • Referral Bonus. Refer a friend and both of you will earn $20 each once your referral makes their first purchase within 30 days of signing up. Users are able to refer up to 50 friends allowing to earn up to $1000 in referral cash bonuses.
  • Add KOHO Cover. Add KOHO Cover for $5 a month and get up to $50 zero-interest overdraft protection, which can help you make a purchase when you don’t have enough cash in your account. This limit increases up to $250 if you continue to pay the monthly subscription fee. The cover subscription also comes with financial coaching services. There's no application process, no effect on credit score, and no late fees.

What to watch out for

  • No access to credit. The KOHO Easy Joint Prepaid Card functions like a debit card, so you won’t be able to spend any funds that you don’t already have in your account.
  • No welcome bonus. You won’t get any special sign-up bonuses or accelerated cashback rates in your first few months of card ownership.
  • Foreign transaction fees. You’ll have to pay a 1.5% foreign transaction fee for every dollar you spend outside of Canada.
  • Limited insurance. This card doesn’t offer basic insurance like purchase protection or extended warranty.
  • Few travel perks. You won’t get any premium travel perks like travel insurance, car rental insurance or airport lounge access with this card.

What should I know before I apply?

Eligibility requirements

To apply for the KOHO Easy Joint Prepaid Card, you need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least the age of majority in your province or territory (18 or 19 years old).

Required documents and information:

  • Your name, residential status and contact information
  • Your social insurance number (SIN) and date of birth
  • Your email address and phone number

How to apply for a new KOHO account

  1. Click “Go to Site” on this page to be securely directed to your KOHO account application
  2. Read through the disclosure statement details and click “Accept & Continue”
  3. Complete the application with details that include your name, email address, social insurance number and birth date
  4. Review and submit your application

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Get a reloadable and secure card with the same benefits as a standard credit card.

Bottom line on the Koho Joint card

The KOHO Easy Joint Prepaid Card is a hybrid card that lets you spend money out of your shared account (like a debit card) while earning cashback and other rewards (like a credit card). Although it doesn’t offer access to real credit, it’s a great way to share your finances with a partner. It offers Unlimited 1% cash back on groceries and transportation, and up to an extra 5% cash back with select merchants, along with a number of other benefits like shared savings goals, free e-transfers, stylish cards and instant notifications when anyone spends money out of your account.

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