Which purchases qualify for the higher cashback return?<\/h4>
Find out more about which purchases qualify for each cashback category below:<\/p>
- Groceries.<\/strong> Get rewarded for shopping with small corner stores, organic markets and large grocery chains.<\/li>
- Recurring bills.<\/strong> Get a solid return whenever you pay a monthly bill (for example, your phone or utility bill).<\/li>
- Dining out.<\/strong> Earn cashback at restaurants, bars and coffee shops \u2013 including takeout and food delivery.<\/li><\/ul><\/div>
The perks<\/h3>- Savings tools.<\/strong> Set savings goals or choose to lock your funds away in the KOHO vault so you don\u2019t spend them.<\/li>
- Optional credit building.<\/strong> Pay an additional $7 per month to get access to a small line of credit. Repay it on time and build your credit history.<\/li>
- Optional roundups.<\/strong> To help you save money, every purchase you make with your KOHO card can be rounded to the nearest $1, $2, $5 or $10 (you choose the amount). The difference gets stored away for a rainy day.<\/li>
- Referral bonus.<\/strong> Refer a friend and both of you will earn $20 each once they make their first purchase within 30 days of signing up.<\/li>
- Bank-level protection.<\/strong> If KOHO ever goes bankrupt, your funds will be protected up to $100,000 by the Canadian Deposit Insurance Corporation (CDIC).<\/li>
- Add KOHO Cover.<\/strong> 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\u2019t 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\u2019s no application process, no effect on credit score, and no late fees.<\/li>
- Ability to waive low monthly fee.<\/strong> Deposit $1,000 per month to your KOHO Essential account or set up a recurring direct deposit in order to pay $0 a month.<\/li><\/ul>