KOHO Early Payroll: Get $100 Before Payday and Save on Fees

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by Enoch Omololu


Advertiser Disclosure

If you find it challenging to cover your bills just before your next payday arrives, KOHO Early Payroll is here to help.

This new feature on the innovative KOHO app makes $100 available 3 days before your paycheque is deposited into your account.

Early Payroll is free of charge and the KOHO app and prepaid Visa card also pay you up to 2% cash back on all your purchases.

Read on to learn about how the KOHO Early Payroll feature works.

What is KOHO?

KOHO is a free chequing account that offers a versatile mobile app and a prepaid card you can use from anywhere (online and in-store) where Visa is accepted.

Unlike a traditional chequing account, a KOHO account is free and can help you save on outrageous bank fees.

The KOHO app and Visa card offer a ton of benefits including:

  • 0.50% cash back on all purchases; up to 2% cash back with KOHO premium
  • 1.20% interest rate on your entire balance when you set up direct deposit
  • Automatic saving of your spare change
  • $0 monthly account fees, e-Transfer fees or NSF fees
  • Early access to $100 from your paycheque
  • Access to a premium 16g metal card
  • Expense tracking and budgeting capabilities
  • Security of your funds via CDIC
  • Free financial coaching
  • Payment options via Apple Pay and Google Pay

KOHO is available as a personal, joint or premium account. It is not a credit card and does not affect your credit score.

Get more details about what KOHO offers in this KOHO Visa Prepaid review.

When you sign up here, you receive a $20 bonus. No promo code is required.

KOHO Early Payroll Review

What is KOHO Early Payroll?

This new KOHO feature gives users access to $100 three days before their paycheque arrives. What this means is that if funds are tight before your payment date, you may no longer need to seek out a payday loan.

Early Payroll gives you access to $100 for free (no fees or interest) and when your paycheque arrives, the amount is deducted. Simple as that!

To use Early Payroll, simply get KOHO and set up a direct deposit. Once you have completed this step, you can opt into the Early Payroll program.

You also earn an extra 0.50% in cash back for 90 days when you select direct deposit and receive your first deposit of $500 or more.

With KOHO, there are just so many ways to earn cash back. And, this service saves you the ridiculous interest rates charged by predatory payday loan services in Canada.

Sign up for KOHO Early Payroll.

Is KOHO Safe?

KOHO is legit. They have partnered with Peoples Trust a federally regulated bank so that your money is insured by Canada Deposit Insurance Corporation up to $100,000.

Over 175,000 Canadians use KOHO to save on fees and earn cash back. It’s no wonder the app is featured on our list of the best cash back apps in Canada.

KOHO Early Payroll

What Does KOHO Cost?

A regular KOHO account is free and has no monthly maintenance fee. You earn 0.50% on any purchases you make using the card.

Users can choose to upgrade their account to KOHO Premium and earn up to 2% cash back on transportation, groceries, and restaurant spending, plus pay no FX fees when they shop abroad.

KOHO Premium has a $9 monthly fee.


I have been a KOHO user for close to 2 years now and have enjoyed it so far.

$0 fees and a ton of cash back earned since joining make it a no-brainer and I happily recommend it to others.

Sign up here to get started.

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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