Koho Review 2022: Petro Canada Prepaid Credit Card

Petro Canada Prepaid Credit Card

Koho presently supplies the very best pre-paid Mastercard bank card in Canada, with absolutely zero fees (consisting of no surprise costs), the ability to earn cash money back on all purchases, in addition to a convenient selection of various other totally free and also paid devices in a convenient online site that assists Canadians take control of their financial resources with real-time understandings regarding costs, credit scores health and also more.

What is Koho?

Koho is a financial institution in Toronto, Ontario that provides their solutions both as a physical, reloadable, no-fee mastercard and also a convenient as well as well made app that offers other integrated individual money tools along with additional optional economic products and services. Their solutions are developed to help all Canadians much better conserve, spend, and spending plan their cash like a pro.

Does Koho Fee Fees?

No. Koho does not bill fees. Making Use Of the Koho Prepaid Mastercard is entirely complimentary. Unlike many various other popular competitors, there are no monthly charges, and also no charges to fill funds onto the card. Keep in mind: Koho does bill foreign purchase charges, if utilizing their card to make acquisitions in foreign currencies. However, they use an optional costs service with a month-to-month cost that can waive these costs for people that perform a great deal of international transactions on their Mastercard. Unlike a lot of pre-paid bank card, there are likewise no charges for taking out money from an ATM. In addition, you can likewise send out unrestricted Interac Etransfers for free. Surprisingly there is likewise no NSF fees billed by Koho.

Does Koho Offer Cash-Back?

Yes. Koho uses a base rate of 0.5% cashback on all purchases made with the Koho Card. Asserting this money back is easy, as you can squander your incomes in just a few clicks whenever and any place. Additionally, Koho offers a regular monthly subscription service called Koho Premium which allows you to make 2% cash back on all your daily essential acquisitions.

How Can I Add Funds to my Card?

Loading cash onto your Mastercard is incredibly easy. This can be performed with Interac Etransfer, so that funds are available to invest in the Mastercard instantly. No awaiting days for settlements to clear the bank. Moreover, the card can be loaded via an existing visa debit card. In addition, you can likewise establish your payroll straight down payment to make sure that your pay cheque is deposited directly onto your Koho card. This unlocks a higher rate of interest on financial savings, along with unlocks other costs attributes within the Koho application.

Are my Funds Safe With Koho?

Funds included in your Koho card are CDIC guaranteed, thanks to Koho partnering with People’s Trust fund, a government controlled Canadian financial institution. Your Koho card is additionally covered by Mastercard’s Zero Obligation policy, which protects you in the case of unauthorised card use.

What Features Are Included in Koho Premium?

For $9 each month, Koho customers can sign up for the optional Koho Costs Solution. This allows you to gain 2% cash money back on all groceries, transportation and eating and alcohol consumption, as well as 0.5% base rate cashback on every little thing else. Koho Premium also waives international purchase fees, and unlocks 1 free global ATM withdrawal per month. Costs individuals likewise obtain a special costs physical card, which Koho describes as a snappy new vertical design.

Does Koho Construct my Credit History?

Because this is a prepaid Mastercard, there is no debt check to acquire one. You can just spend what you have actually loaded onto the card. You never ever have a balance due to repay, so looking for and using the card does not influence your credit score. For Canadians thinking about developing their credit rating, Koho provides an ingenious Credit scores Home builder product. By paying $7 per month, Koho will report favorable debt info to Transunion and Equifax that can enhance your credit rating. This product is most definitely worth taking a look at, as it even allows you to select the debt utilization percent to report monthly.

Finally, the Koho Prepaid Mastercard is by far the best reloadable Mastercard available in Canada. With their no-fee spending, immediate cash-back on daily acquisitions, as well as innovative app and online website, it is a fantastic option to aid you take control of your financial resources.

Go here to get $20 cashback when you enroll in a Koho account as well as make your first card acquisition within one month