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KOHO Core (prepaid Mastercard)

KOHO · Mastercard

KOHO Core (prepaid Mastercard)

  • Cash back
  • No income requirement stated
See it on KOHO's site Checked against KOHO's site on November 12, 2026
Annual fee
$0
Additional card: None stated
Cash back
1%
Purchase interest
Not applicable (prepaid)
Foreign transactions: 1.5%
Welcome offer
Up to 10% cash back on purchases for your first 3 months (up to $100), with a promo codeNo end date stated · checked Nov 12, 2026

What you earn

  • 1%cash back Groceries Dining Transit

KOHO states no cap on these earn rates.

What this card gives back for your spending

For a typical household's card spending ($3,245 a month), this card gives about $128 a year back after fees: $128 cash back, less $0 in fees.

Rewards at this card's earn rates for that spending, minus the annual fee. Insurance, lounge access and welcome offers are not counted in dollars. Spending is Statistics Canada's average household (Survey of Household Spending, 2023), split into card categories by CardNorth.

Compare it with all 162 cards we've checked, from 24 banks, in the card finder

Fees and interest

Annual fee$0
Additional cardNone stated
PurchasesNot applicable (prepaid)
Cash advancesNot applicable (prepaid)
Balance transfersNot applicable (prepaid)
Foreign transactions1.5%

Who can apply

IncomeNone stated
QuebecOffered
Card typePersonal, Mastercard

Perks and coverage

  • Balance interest

Coverage has conditions and limits. Read KOHO's certificate of insurance or benefit terms before relying on it.

Good to know

A prepaid card

KOHO Financial Inc. issues the card, a prepaid Mastercard. You load it with money before you spend, and you can’t spend more than you load. Opening an account needs no minimum deposit or credit check.

Formerly KOHO Essential

KOHO’s free plan was listed as Essential and is now listed as Core. Essential charged no fee once you set up direct deposit or added $1,000, while Core needs no direct deposit or minimum balance.

How cash back is paid

Cash back is applied once a purchase settles, typically in 2-3 business days, and you can cash it out in the app at any time. If you owe a Cover balance, cashed-out cash back pays it down first. Partner deals in the app add cash back on top of the plan rate, deposited within 30 to 90 days.

What earns the category rate

The rate depends on the merchant category code each merchant sets, which can differ by location or payment terminal, for example at Walmart or Costco. A ride share would likely count as transportation, but flights and trains don’t. Non-purchase transactions earn nothing, such as ATM withdrawals, e-Transfers, bill payments, pre-authorized debits, direct deposits, crypto, remittances or gambling.

Interest on your balance

The 2% interest starts once you opt in on the Interest page in the app, and is calculated daily and paid monthly. The rate can change without notice.

Questions

What does KOHO Core earn?
It earns 1% cash back on groceries, transportation and eating & drinking, no cash back on everything else.
How is KOHO Core cash back paid?
Cash back is applied once a purchase settles, typically in 2-3 business days, and you can cash it out in the app at any time.
What is the monthly fee for KOHO Core?
$0 a month, with no direct deposit or minimum balance needed.
Can I withdraw cash with KOHO Core?
Yes, with the physical KOHO card at ATMs on the Cirrus network. KOHO owns no ATMs, so the operator may charge a $2-3 out-of-network fee.

Sources

The figures and rules on this page come from these sources, last checked against them on November 12, 2026. About CardNorth.

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