KOHO referral code “MONEYNINJA20” will give you a $20 bonus when you make your first purchase with the KOHO card within 30 days of registration.
Once you have an account, refer friends and family to the KOHO app and earn a cash bonus for every person that joins using your link. Full details of KOHO’s referral offer below.
For more current bank offers, see our bank bonuses page. The most popular offers are from Chase Bank, SoFi, and Axos Bank.
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KOHO Referral Code MONEYNINJA20
New users who open a KOHO account using the referral code MONEYNINJA20 will get a $20 cash bonus when they make their first purchasing using the KOHO card.
How To Get Referral Bonus:
- Open a new KOHO account with this link.
- Enter the referral code MONEYNINJA20 during account registration.
- Fund your account for any amount.
- Make a purchase for any amount using your KOHO card.
- Receive a $20 cash bonus deposited into your account.
Please make sure that you manually add the promo code during account registration because the application will not auto-populate with one.
What is KOHO?
KOHO is a free savings account that helps Canadians simplify their personal finances. It comes with the KOHO card, a prepaid Mastercard that allows you to easily spend, save, budget, and manage your account. Features include:
- Get 1% cashback on groceries, bills, and services
- Get up to 5% extra cashback when you shop online or in-store with partners
- Earn 0.5% to 2% interest on your entire balance depending on your subscription plan
There’s no credit check or monthly fees to worry about. Your money is also protected by CDIC, up to CAD $100,000.
KOHO Referral Program
Refer a friend to KOHO and both of you will get a $20 referral bonus. Here’s how to find your personalized referral code and share it with others.
- Find your personal referral code in the KOHO app by clicking on the Perks tab.
- Share your code via text, email, or other methods.
- Earn $20 once your friend signs up and makes their first purchase within 30 days of registration.
You can refer up to 50 friends, which means the maximum you can earn through this referral program is $1,000 (50 x $20).
The Bottom Line
If you were looking to open an account, the $20 sign-up bonus is a nice little cherry on top.
KOHO is a good financial app for Canadians who are new to credit or are looking to build up their credit. This is similar to popular US-based fintech apps like Chime or second-chance checking accounts like Chase Secure Banking℠.
Unlike other bank accounts that you can accidently overspend and incur penalties on, KOHO will only approve transaction amounts that are at or below your current account balance.
For people who need a little push to save, you can elect to round up your purchases to the nearest dollar. This amount will then be applied to your savings goal (e.g. home renovation, holiday vacation, big ticket appliance, etc.). The idea is you won’t miss these small amounts, but they’ll add up quickly to your next goal.
They also offered something called KOHO Premium for $9 monthly or $84 annually. This comes with a few additional benefits, namely the increased 2% cash back on three categories you spend the most on. I don’t think it’s worth it in my opinion. You’d have to spend $5,600 annually in those three categories to breakeven on the $84 annual fee.