Vancouver-based fintech app Koho launches exclusively across Canada

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  • Nil

    so ..wait…. so … it is free but I have to pre-pay to use it so it sounds to me like a free loan of my money to this Koho company that nobody has ever heard of. Ah …or I can just link my bank account and pay and just pay everything from my bank account but using this card instead of using my debit card…. wow…that makes things so much easier, plus I avoid the cash back or other perks that I would get by using a true credit card. It’s all good though, it is for free …well at least most of it as there are still some fees for international transactions.

    but it is a Canadian company and they already duped 10.000 people to use it already! wow! we should all grab one while we can. such a good deal will not last long!

    One more thing, it looks that it is issued by People’s Trust, a virtual bank that 2 years ago was hacked and breach all clients’ confidential information, including mine. They “took it upon themselves” to put a credit alert on my credit file so I do not fall victim of identity fraud. So now every time when I sign up for a new service (like 2 months ago to change my internet provider) I have to go through endless hours of explanations and verification over the phone and a personal identification with an ID at a postal office.

    Anyways…just another one of the Mobylesyrup news

    • Bill___A

      It is an option, and a choice for some people. It will succeed or fail in the marketplace based upon many factors. Someone had a vision and wanted to try it out. We’ll see. I wish them success. There are many prepaid debit cards now…

  • Tim3Tripp3r

    One thing to note: The Koho card is “electronic use only” – this is printed right on the front of the card. The card does not have raised numbers or chip. It does have the 3 digit security code on the back and a magnetic stripe. Not sure that you will be able to use this physically at some places in person.

    • bar1010

      It works everywhere I’ve taken it. Even paying for gas at the pump.

  • Cmarenburg

    I’ve been Beta testing Koho for a few months and it’s great. The idea is a spending card – which I love. It works a lot like a bank account in the sense I can move money around easily, and also choose to have my paycheck​ direct deposited.

    It’s more than just a pre-paid card. It helps with saving money. The Koho app breaks down large goals in to small daily goals that are automatically transferred to a separate saving section. Is it new, no, is it meant for young adults totally.