KOHO Referral Code: Get an Exclusive $40 Sign Up Bonus
Use our exclusive KOHO referral code to get a $40 cash bonus after your first $20 purchase. Here's how the bonus works, what to watch for, and whether KOHO is worth it.
KOHO is a Canadian prepaid Visa card and app that works like a simple spending and savings account. It isn't a bank, and there's no credit check to sign up. You load money onto the card, spend it, and earn cash back and interest along the way. If you want something easy that helps you keep an eye on your spending, it's a decent place to start.
Our review
A simple, low-friction account that is easy to open and easy to use. The free plan covers the basics, but the best cash back and interest rates sit behind a paid plan.
How the KOHO referral bonus works
Sign up with our referral link or code and you get an exclusive $40 cash bonus after your first purchase. This bonus is only available to people who use our code. Use the code KOHOBONUS40 at signup if it isn't filled in for you.
Here's what has to happen for it to count:
- Sign up as a new member using the referral link or the code KOHOBONUS40.
- Verify your account. You'll need to confirm your identity in the app.
- Load your card. Add money to your KOHO account from another bank.
- Spend at least $20 within 30 days. Online or in person both work, with the virtual or physical card.
The bonus is paid as cash into your KOHO balance once you meet the spend requirement.
What you get
- An exclusive $40 cash bonus after your first qualifying purchase
- A prepaid Visa card with a virtual version you can use right away
- Cash back on everyday purchases, with higher rates on paid plans
- Interest on your balance, with rates that depend on your plan
- No credit check to open an account
How to claim the KOHO bonus
- 1
Use the referral link or code
Click the button below to open KOHO with the referral applied. If it is not filled in automatically, enter the code KOHOBONUS40 during signup. - 2
Create and verify your account
Download the app, sign up and confirm your identity. Your virtual card is ready as soon as you are approved. - 3
Add money to your account
Move funds from your bank to KOHO so you have something to spend. - 4
Spend $20 or more within 30 days
Make a purchase of at least $20 with your virtual or physical card. Online or in store both count. - 5
Check your balance
Once your purchase qualifies, the $40 bonus is added to your KOHO balance.
Pros
- Easy signup with no credit check
- Virtual card available right away
- No monthly fee on the free plan
- Cash back and interest on your balance
- An exclusive $40 bonus for one $20 purchase
Cons
- You must spend $20 within 30 days to get the bonus
- The best cash back and interest rates need a paid plan
- It is a prepaid card, not a full bank account
- Only new members qualify for the signup bonus
Is KOHO worth it?
For most people signing up for the bonus, yes. The bar is low: open the account, put $20 on the card and buy something you were already going to buy. That's an easy $40.
Whether you keep using it depends on how you spend. If you want a simple card that gives you a little back on everyday purchases and helps you stay on budget, it fits well. If you need a full chequing account with all the usual bank features, treat KOHO as a companion account rather than a replacement.
One tip: check which plan you're on before you count on the higher cash back and interest rates. Those are tied to paid plans, and the free plan earns less.
Other informational sources
If you want more details, here are some other sources of information:
KOHO Referral Code Thread | KOHO Referral Code Website
Frequently asked questions
How much is the KOHO referral bonus?
What is the KOHO referral code?
Do I have to make my first purchase in person?
What if I forget to enter the code?
Do I need a credit check to open a KOHO account?
Can I refer friends too?
Referral terms change without notice. Always confirm the current details on KOHO's site before you sign up.
