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    Koho Review

     
    Budgeting and Saving money has become easier due to the growth of the information that we have been
     
    given via the internet, Learning this skill is very important as it helps you learn how to put your needs
     
    before your wants.However finding a service that helps you spend money and a decent return may not be
     
    quite as easy to find the right one, numerous banking services offer various cash bank incentives on their
     
    credit card accounts in order to help you save more money when you spend. That being said having to
     
    find a way in which you can get great cashback offers without having to worry about going into debit is a
     
    much safer option and this is what makes Koho different from the rest. In this informative post you will
     
    find out more about Koho and how you can maximize your finances with it which, can
     
    definitely help you reach your financial goals when it comes to being more effective with your money.
     
    Note : Please not that this information is not financial advise and that the information is sole based on
               
               Experience.
     
    Tip : The key to creating a Good Budgeting strategy is to make sure that you separate the things you want
     
            from the things you need its very important.
     

    What is Koho ?

     
    Seeing that the Koho service is fairly new to the scene the best thing for us to do is to know what
     
    exactly it is, so to begin with KOHO is not a banking service even though it allows you to perform various
     
    financial actions like other banks. However it is just a Visa card service which means that this can be used
     
    anywhere in the world there for providing ease of access and mobility.Getting to use this service is fairly
     
    easy which will be shown later but in order to do so you have to be located in Canada, but might expand
     
    as time goes by. The visa card works well with the Koho application which you can download from the
     
    respective app store for your device.
     
     

    Does Koho Build Credit & Is it A Credit Card  ?

     
    Even though it has got various monetary options it is only a prepaid Visa card which means it cannot be
     
    used to build credit and it cannot be used to repair your credit score, so being a prepaid card it can only
     
    be used to load money into it. Thereby making this card an able for crediting services because it is limited
     
    based on the money that you put into it.
     
     

    What Are the Benefits of Using Koho ?

     
    Even though the first thing that you hear when you see a Koho advert is the great cashback offers that
     
    you can get, there are various kinds of advantages when it comes to using this visa card service.
     
    Here are just some of the advantages that you get when you choose to use it.
     

    1. Koho Has Great Cashback offers

     
    As this is the most pronounced thing about using this it will be the first benefit that will be discussed,
     
    cashback offers are a percentage of money returned to you after you have spent it on a purchase.This is a
     
    very important thing to remember because Koho allows its customers to round up there purchases to the
     
    nearest $1,$5,$10 depending on the option that you have chosen during the initial set up,this option can
     
    be changed later if you want to switch your preference making this a great option if you’d like to increase
     
    your return.
     
                                                                    
     
     

    How does This Cashback Process happen ?

     
    The money that you get back after your purchases is received as spendable money in the form of a Power
     
    up which can be directly deposited into your balance with just a simple tap, Koho offers upto 0.5% returns
     
    on all your purchases that you have made which can be quite a good amount.In a post on the Koho
     
    website it stated that the average Canadian that has engaged with this service has saved over $400 within
     
    the first two weeks of using it, making this even more of a great selection when it comes to saving money.
     

    2. Personalization

     
    One of the most important things in life is to be able to personalize your experience and this is a place
     
    where Koho allows you to do that,Upon signing up you will be able to choose which colour you want your
     
    card to be.Which is definitely a plus because it makes you look even more unique , they offer you a wide
     
    range of color combinations which means there is something for everyone.
     
     

    3. Using Direct Deposit

     
    In terms of receiving your pay check the moment you get paid, this service has a feature that will enable
     
    you to do so called Payroll direct. In order to set it up all you need to do is simply link your payroll
     
    information with your Koho account which is very quick and simple to do and you’d be all set to go, this
     
    can be very convenient if you want to make sure you save the most out of your money.
     
     

    4. Saving Money With Ease

     
    One of the main problems as to why people fail to save money is because some of the services that they 
     
    might be using aren’t automated,with this you do get the chance at using a feature that is called savings.
     
    The savings feature will help you save money by deducting a specific amount of money from your account
     
    which will then be put towards the goal that you would like to achieve. This feature does come in handy
     
    when you’re trying to save for that special family vacation or that dream home, another advantage is that
     
    you can now create a joint savings account which even makes setting a certain amount of money
     
    between to people even better. An Example is shown below.
     
                                                                      
     

    5. Worldwide Usage  

     
    Having the ability to move with your card even when you travel abroad is a huge plus as it makes
     
    accessing funds easy,this is what is offered here as well , this is due to the fact that the card is visa
     
    enabled which makes international transactions easier to do without attracting any additional fees.
     

    6. koho Offers Virtual Cards

     
    The ability to protect your information whilst you are shopping online is a must and creating a Koho
     
    account comes in handy, by signing up for this service you not only get a physical card to use but you are
     
    given a virtual card as well.This virtual card has got a different card number than your physical one which
     
    makes giving the details of your actual card irrelevant, this virtual card can be used when shopping online
     
    as well as for loading your card with funds if you’ve got accounts like Paypal e.t.c With this service you are
     
    also able to remotely block your card from being used in case you dropped it ,which might came in handy
     
    because these cards do have the Tap to pay feature.
     

    Disadvantage of Using Koho ?

     
    The major problem that has been faced when it comes to using this service is loading the money into your
     
    account. Although Koho does offer e money transfer by using interac, sometimes the process may
     
    become strainous as you’ll have to use it multiple times for different transfers. However they do offer
     
    direct banking transactions but these may take longer than the e transfer, this is the main problem of
     
    using this service.
     
     

    How to Get Started With Koho ?

     
    The process of signing up for this service is very simple and quick to do , here are some of the steps you
     
    might want to know to get you prepared for the sign up.
     
     

    Step 1

     
    You’ll need to log on to the Koho website where you can download the mobile application to your phone
     
    or you can just head over to your respective mobile store, as this is available for both Iphone and android.
     
     
    Step 2
     
    After you download it you’ll need to create an account and start to verify your identity, this could be done
     
    by sending them either your current phone bill , bank statement or even your drivers license. When this is
     
    completed you will be able to personalize your card.
     
     

    Step 3

     
    You’ll just have to wait for your card to be shipped to you which can take upwards to two weeks
     
    depending on your location, but the good thing is you can still load your funds and use the virtual card
     
    that is provided. That’s how simple getting this card is , However Koho is now offering a premium service
     
    which will look at below.
     
     

    What is Koho Premium ?

     
    Signing up for Koho is free, however it does have a premium version that you can opt for which you can
     
    uses as soon as you start.Here are some of the perks that you can get when using the Premium version.
     
    • The premium package allows you to receive free financial advise from withing the application
     
    • You are able to load more money into your account and withdraw larger amounts at the ATM when compared to the standard version
     
    • Unlike the standard version you get upto 2% cashback on all purchases as compared to the standard version where you get 0.5%
     
    • Because this is the premium option you’ll have to pay an extra $84 as an annual fee.
     
    • Price checking is only available for premium and this feature allows you to save even more money by allowing you to scan receipts of items you had purchased to see if the prices have changed to give you the best deals
     
     
    Note : This feature is only available for specific stores you can find out more on there website.
     
    You can use code VIE2QCZW or sign up here to get an extra percentage added to your cashback when
     
    ever you purchase items.
     

    How to maximize Your Koho Earnings ?

     
    So those are the major things that you need to know about the Koho Visa Card service , but I’d also like to
     
    talk about how you can maximize your cashback opportunities.Here are some of the ways you can
     
    increase your potential earnings with this service.
     

    Take Advantage of Powerups

     
    Remember that power ups supercharge your account with spendable money, so its important to make
     
    sure that you are consistently using your card in order to get more from it.For instance if you are going
     
    shopping online or buying groceries at the store, it definitely has to be an essential.This card is also great
     
    if you are using it for smaller Items such as vending machines, that way it becomes even easier for your
     
    power ups to accumulate without you even paying attention to them.
     

    Using Koho Partner Applications

     
    One of the good things about using this service is that it has some merchants that it has partnered with in
     
    in order to give you the opportunity of getting additional returns on your purchases, it has partnered with
     
    merchants that provide different services that and these are companies such as Foodora, Well.ca , Chef
     
    plate , Frank and Oak as well as Fresh u to mention but a few.When you use your card at these stores you
     
    will become eligible to get an extra cashback that ranges from 1.5% to even more than 4% , this is very
     
    useful when buying large ticket items and great for nights when you eat out.
     
     
    In addition to those tips you might as well try and link your paycheck by using payroll direct feature that
     
    was mentioned earlier on, as this can also increase your return by quite alot.So having said that it is
     
    important that you get the most out of your experience with this service in order for you to enjoy it .
     
     
    I hope this review about the Koho Visa card was helpful to you and made it easier for you to decide
     
    whether or not this service was the one for you . Don’t forget to use code VIE2QCZW or sign up here to
     
    get an extra percent bonus that will be added to your cashback which will increase the rate of your return.
     

     

     

     

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