How to Use KOHO Online Banking

Prerequisites

• Canadian resident aged 16 or older (18+ in some provinces)
• Valid government-issued photo ID (driver's license or passport)
• Canadian phone number for SMS verification
• Email address
• Canadian address (can be temporary or permanent)
• No credit check required for basic account

Getting Started with KOHO

1. Download KOHO App: Install from App Store (iOS) or Google Play (Android)
2. Start Registration: Tap "Get Started" to begin account creation
3. Enter Phone Number: Provide Canadian phone number for SMS verification
4. Verify SMS Code: Enter the verification code sent to your phone
5. Create Account: Set up email address and secure password
6. Choose Your Plan: Select free plan or premium plan options
7. Provide Personal Info: Enter name, address, and date of birth
8. Upload ID: Take photos of government ID for verification
9. Get Virtual Card: Receive instant virtual card details
10. Fund Account: Add money via e-Transfer or set up direct deposit

Setting Up Your KOHO Card

1. Virtual Card Setup: Your virtual card is available immediately in the app
2. Add to Digital Wallets: Add card to Apple Pay, Google Pay, or Samsung Pay
3. Order Physical Card: Request physical card delivery (usually 5-7 business days)
4. Activate Physical Card: Follow in-app instructions when card arrives
5. Set PIN: Choose your 4-digit PIN for ATM and in-store purchases
6. Enable Notifications: Turn on real-time transaction alerts
7. Set Spending Limits: Configure daily or monthly spending limits

Funding Your Account

Adding Money via Interac e-Transfer

1. Get Transfer Details: Find your unique e-Transfer email in the app
2. Send from Other Bank: Send e-Transfer from your primary bank account
3. Use Security Answer: The security answer is provided in the KOHO app
4. Funds Available: Money appears in your account within minutes

Setting Up Direct Deposit

1. Find Account Details: Locate routing and account numbers in app settings
2. Contact Employer/Benefits: Provide your KOHO account details
3. Complete Direct Deposit Form: Use KOHO's routing number and your account number
4. Test Deposit: Some employers do test deposits first
5. Confirm Setup: Verify direct deposit is working correctly

Creating & Managing Savings Goals

1. Access Goals Section: Navigate to "Goals" in the app menu
2. Create New Goal: Tap "+" to add a new savings goal
3. Name Your Goal: Give your goal a descriptive name (e.g., "Emergency Fund")
4. Set Target Amount: Enter your target savings amount
5. Choose Timeline: Set a target date for reaching your goal
6. Enable Auto-Save: Set up automatic transfers to your goal
7. Track Progress: Monitor progress with visual indicators
8. Adjust as Needed: Modify goals and contributions anytime

Maximizing High-Interest Savings

Understanding Interest Rates

• Interest rates vary by plan (free vs. premium)
• Interest calculated daily on your full balance
• Interest paid monthly to your account
• No minimum balance required to earn interest
• Higher rates available with premium plans

Optimizing Your Savings

1. Keep Money in KOHO: Maintain higher balances to earn more interest
2. Set Up Goals: Use savings goals to build larger balances
3. Enable Round-Ups: Save spare change from every purchase
4. Consider Premium Plans: Evaluate if higher rates justify plan costs
5. Monitor Earnings: Track monthly interest payments in transaction history

Using Credit Building Features

1. Enroll in Credit Building: Opt into KOHO's credit building program
2. Make Regular Deposits: Consistent account funding helps build credit
3. Use Your Card Regularly: Make purchases and pay them off
4. Maintain Positive Balance: Keep your account in good standing
5. Monitor Credit Score: Track improvements through the app
6. Follow Best Practices: Use educational resources provided by KOHO
7. Be Patient: Credit building takes 3-6 months to show results

Managing Spending & Budgeting

Using Spending Categories

1. Review Auto-Categories: KOHO automatically categorizes transactions
2. Adjust Categories: Manually correct any miscategorized spending
3. Set Category Budgets: Create spending limits for different categories
4. Monitor Progress: Track spending against budget limits
5. Get Alerts: Set up notifications when approaching budget limits

Enabling Round-Up Savings

1. Access Settings: Go to app settings or savings section
2. Enable Round-Ups: Turn on automatic round-up savings
3. Choose Multiplier: Select 1x, 2x, or higher round-up amounts
4. Select Destination: Choose which savings goal receives round-ups
5. Monitor Savings: Watch small amounts add up over time

Bill Payments & Transfers

Paying Bills

1. Navigate to Bill Pay: Find "Pay Bills" in the app menu
2. Add Payee: Search for and add companies you want to pay
3. Enter Account Info: Add your account number with the payee
4. Set Payment Amount: Enter the amount you want to pay
5. Choose Payment Date: Select immediate or schedule for later
6. Set Up Recurring: Make it a recurring payment if desired
7. Confirm Payment: Review and authorize the payment

Sending Interac e-Transfers

1. Select Send Money: Choose e-Transfer option in the app
2. Enter Recipient: Add email address or phone number
3. Set Amount: Enter the amount to send
4. Add Message: Include optional personal message
5. Create Security Question: Set question and answer for recipient
6. Send Transfer: Confirm and send the e-Transfer

Troubleshooting Common Issues

Frequently Asked Questions