Money Management, Personal Finance

5 Ways KOHO Can Help You Get Ahead

by KOHO KOHO helps Canadians gain control over their money

Summary: KOHO app to help with my finances

So you want to level up your personal finances (who doesn’t?), but aren’t sure where to begin. Huddle in, because we’re about to tell you the simplest and simply the best way to do it: with innovative Fintech companies like KOHO that prioritize people over profit.

You may have seen KOHO floating around in the digital space—it’s an app that helps you budget, spend and save smarter—and all without the exorbitant fees.

This may seem too good to be true but luckily for us, financial apps like KOHO are very real and very ready to help get you  ahead financially. Here are 5 ways that KOHO can help you get ahead with your finances.

1. No fees = more money for your pocket

Ever catch yourself wondering questions like, “Why is my bank charging me to withdraw my own funds?” Or, “Is it cheaper to just store my money underneath my mattress?” You’re not alone.

In fact, these very questions are the reasons why some finance apps arose in the first place, KOHO being one of them. They’re our favourite among the no-fee finance apps, particularly because the no-fee thing is very much their thing. No account fees, no ATM fees, no NSF (non-sufficient funds) fees… We could go on, but you get the point.

By managing your day to day finances without the fees, you’re able to put money where you really want it to be: in your pocket. We think that’s pretty beautiful.

2. Get cash back for free

With a lot of these finance apps, you don’t just save money—you make money too! It happens primarily in the form of cash back. While previously reserved for higher-fee credit cards, the newer financial apps have made it readily available to all for free. With KOHO specifically, you get a minimum 0.5% instant cash back on literally everything, plus even more when you shop with their brand partners (and there’s a lot of them). Now that’s how you shop smart with just one account.

3. KOHO Savings—set it and forget it

You know it, we know it—life gets busy, and no one wants to add another item to their to-do list. Good thing that KOHO has features that automate your savings! For example, KOHO allows you to create  custom savings goals, whether it’s for a new pair of shoes or your next vacation. Then, the app will automatically contribute a set amount per day, week, or month, so you can easily reach your goals!

On top of their own “Goal” feature, KOHO also has a little something called “RoundUps.” It rounds up your purchase to the nearest $1, $2, $5, $10 (you get to choose!) and stashes it away until you’re ready to hit that all-glorious “cash out” button.

4. Don’t just save money, save time

We’re not the biggest fans of visiting our local bank branch. We’d rather spend that time reading, trying out new restaurants, and on the occasional TikTok scroll. That’s why we’re all for digital-first financial apps, where everything you’d do at a traditional bank branch, you can now do from the comfort of your own couch.

Plus, KOHO has a word class support team if you’re ever in need of assistance. KOHO clients can either email their comments to [email protected] or chat with KOHO’s support team directly through the app 7 days a week.

5. Interested in higher interest rates?

You work hard for your money, shouldn’t your money work hard for you too? That’s the logic behind KOHO’s interest earning feature that offers 1.2% (2 times the national average) interest earned on every penny in your KOHO account.

Earning interest is one of the easiest and most passive ways to grow your money, especially with some of the market-leading interest rates we’ve observed among apps like KOHO. Plus,  KOHO is equipped with CDIC insurance, which means your money is insured up to $100,000. Pretty sweet, right?

Well, there you have it—the five wonderful ways KOHO’s no-fee finance app can get you ahead in life.  KOHO provides powerful ways to help you manage and grow your money, and we think it’s about time you try them out.

Sign up with KOHO by using the MODERNMONEY code at this link and you will receive $20 in your account on sign up! And then, from there, you can earn $20 for every friend you refer to KOHO (and they will also receive $20 when they sign up). Everyone’s a winner!

About KOHO

We want Canadians to be able to travel more, retire sooner, and live more balanced lives. With an app and a reloadable card, KOHO is a totally new approach to spending and saving. Tens of thousands of Canadians are already using KOHO to spend smarter, save quicker, and restore financial balance. We have the best user support in Canada, maybe the world, and a growing team of hungry fintech enthusiasts ready to change the way Canadians spend and save, for good. We’ve raised 2 rounds of funding, won the NASDAQ award for Best FinTech Co, and we’re hiring.

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