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KOHO Metal Card Review: Cash Back Rewards and 16gms of Premium Goodness

KOHO is a prepaid card that works like a hybrid between a free chequing account and a credit card.

Using your KOHO Visa card, you can pay for purchases online and in-store wherever Visa credit cards are accepted worldwide.

In addition, you get a 0.50% to 2.00% cash back instantly after every purchase, which is a perk that’s hard to come by these days…even for premium credit cards that come with high fees.

KOHO offers its users access to a premium limited edition metal card that looks great in your wallet and weighs 16 grams.

Learn more about the KOHO metal credit card, its benefits, price, and how to earn cash back on your everyday purchases.

The KOHO limited edition metal cards are no longer available. That said, you can still choose from four colour types for the regular card or get KOHO Premium. You can also check this list of metal credit cards in Canada.

Who is KOHO?

KOHO is one of Canada’s top challenger banks.

Founded in 2017, the company offers a prepaid reloadable Visa card and app you can use to pay your bills, cash your paycheque, save on foreign exchange fees, and, more importantly, earn cash back all day long!

When you open a KOHO account, you receive a prepaid Visa card you can reload and an app with budgeting capabilities.

Their plastic Visa card comes in various colour combinations depending on your liking, including:

  • Sunkissed Skinny Dip card
  • Gilded Cotton Candy card
  • Blueberried Caviar card, and
  • Frozen Cherry Soda card

KOHO is partnered with several well-established financial institutions, including Portag3, Peoples Trust, Drive Capital, and Visa.

You can learn more about KOHO in this review.

KOHO Prepaid Visa Credit Cards

Sign up to get a $20 bonus (use CASHBACK referral code).

KOHO Card Accounts

You can open various KOHO accounts and get a physical card.

  1. KOHO Regular Account: Has $0 monthly fees and you earn 0.50% cash back on all purchases.
  2. KOHO Joint Account: Has a $0 monthly fee, you earn 0.50% cash back, and can share savings goals with a partner.
  3. KOHO Premium Account: You pay $9 per month ($84/year) and get an additional 1.50% cash back when you make purchases in three categories of spending. This account also offers other perks detailed below.

KOHO Card Benefits

In addition to having a snappy-looking card in your wallet, a KOHO account offers the following privileges:

  • Earn 0.50% cash back on every purchase when you pay with your KOHO Visa
  • No account fees for regular KOHO or Joint accounts
  • Earn extra cash back (up to 5%) at participating retailers
  • Get spending insights and budget using the KOHO app
  • Access to a physical and Virtual Prepaid Visa card
  • Free access to KOHO Earn Interest (1.20%)
  • Roundup feature that saves your spare change
  • CDIC insurance to protect your funds
  • Ability to pay bills, send Interac e-Transfers, and invest your money using the app
  • Earn extra cash back when you refer friends (up to $1,000)
  • Access to a physical and Virtual Prepaid Visa card
  • Access to Early Payroll and a portion of your paycheque 3 days early for free

If you opt for a KOHO Premium account, you pay $0 per month and additionally enjoy:

  • 2% cash back on grocery, restaurants, and transportation purchases
  • 0% FX fee when you make purchases in a foreign currency
  • 1 free international ATM withdrawal per month
  • Price matching
  • Free financial coaching

As per the company, the average KOHO user reduces their spending by 15% and saves almost $500 within weeks of joining KOHO.

Related: KOHO Credit Building Review

KOHO Metal Card Price (no longer available)

The KOHO metal card has a one-time price tag of $159, and the fee is significantly reduced by $109 when you refer at least two friends to the app.

To qualify for the rebate, your referrals must sign up using your KOHO referral code and make a purchase using their card within 30 days of opening an account.

With two referrals, you pay $50 for a KOHO Metal Card.

You can retroactively claim your rebate if you can get two referrals within 60 days of purchasing your metal card.

To purchase the KOHO metal card, open a free account and place an order in-app.

KOHO Metal Card

Is KOHO Safe?

KOHO keeps your funds with People’s Trust, a CDIC-insured financial institution based out of Vancouver.

The protection provided by CDIC is up to $100,000 per depositor.


A regular KOHO account has no fees. If you open a KOHO premium account, you pay a $9 monthly fee.

All users can choose from a selection of four colour-coded plastic cards and get a free virtual card as well as in-app to make purchases easy via Apple Pay or Google Pay.

In addition, you can opt to purchase a KOHO metal card at a cost of $159 or $50 when you refer at least two friends.


Another prepaid card option in Canada is the STACK Mastercard.

Similar to KOHO, STACK offers cash back at several retailers; however, you don’t earn cash back on all purchases.

Users of the STACK card do not pay FX fees, and the app also helps you track your spending and budget.

STACK does not have a metal card. You can get more details about this card in my STACK Mastercard review.


KOHO helps Canadians save on bank fees.

If you are leery of credit cards because they increase your chances of getting into debt and overspending, a KOHO prepaid Visa card solves that problem.

Even with their regular no-fee card, you earn a significant 0.50% cash back on all purchases.

And, if you want to feel good with a spanky premium card, consider adding a KOHO prepaid card to your wallet.

KOHO Metal Card Review


A KOHO prepaid Visa card gives you up to 2% cash back on all purchases. Spice up your wallet with the KOHO metal card and enjoy the benefits of a hybrid between a credit and debit card.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

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 is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

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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