KOHO Referral Code: How to Get a $40 Cash Bonus

If you are looking for one of the easiest cash bonuses available in Canada right now, KOHO is hard to beat. Just sign up, activate your card, and make a single purchase over $20 — and you walk away with $40 cash in your account. No direct deposit requirements, no minimum balance, no hoops to jump through.

KOHO is a Canadian fintech company offering a prepaid Visa card with cashback rewards, automatic savings features, and a credit building program — all with no monthly fees on the base plan. Here is everything you need to know about claiming your bonus.

KOHO Referral Code

Use referral code KOHOBONUS40 when signing up — claim the KOHO bonus.

How the KOHO Referral Program Works

The KOHO referral bonus is one of the most straightforward in Canadian banking:

Sign up for a new KOHO account using referral code KOHOBONUS40
Order and activate your KOHO prepaid Visa card
Make at least one purchase over $20
Receive a $40 cash bonus credited to your KOHO account within 5 business days

That is it. There is no minimum account balance, no direct deposit required, and no waiting period. Just one small purchase and the $40 is yours.

Where to Enter the KOHO Referral Code

The referral code KOHOBONUS40 is entered during the account sign-up process in the KOHO app. Here is how:

Download the KOHO app on iOS or Android
Tap "Get Started" and begin the registration process
When prompted, enter referral code KOHOBONUS40 in the referral code field
Complete the sign-up and order your KOHO card
Activate the card and make any purchase over $20

Important: The referral code must be entered during sign-up. It cannot be applied to an existing KOHO account, so make sure to enter it before completing registration.

What Do You Get With KOHO?

KOHO is more than just a prepaid card. Here is what the platform offers:

Prepaid Visa Card — KOHO gives you a no-fee prepaid Visa that works anywhere Visa is accepted. You can use it in-store, online, and for subscriptions. A virtual card is available instantly in the app while you wait for the physical card to arrive.

Cashback Rewards — KOHO offers up to 5% cashback at select partner retailers, plus a base cashback rate on all other purchases depending on your plan. Cashback is earned automatically and added to your balance in real time.

RoundUps — Every time you make a purchase, KOHO rounds up to the nearest dollar and sets the difference aside in a savings goal automatically. It is a hands-free way to build savings without thinking about it.

Credit Building — KOHO offers an optional Credit Building subscription that reports your KOHO activity to Equifax, helping you build or improve your credit score over time without taking on debt.

Budgeting and Spending Insights — The KOHO app breaks down your spending by category and gives you real-time visibility into where your money is going, making it one of the more useful budgeting tools available to Canadians.

Direct Deposit — You can set up your paycheque or government payments to deposit directly into your KOHO account using your personalized account and transit numbers, just like a traditional bank account.

Is KOHO Safe?

Yes. KOHO is a registered Canadian financial technology company. Funds held in your KOHO account are stored with Peoples Trust Company, a federally regulated Canadian financial institution. Deposits are eligible for CDIC (Canada Deposit Insurance Corporation) protection, giving you the same deposit safety net as a traditional bank.

How Does KOHO Compare to Other No-Fee Banking Options?

KOHO is a great fit for everyday spending and earning cashback, but it is worth knowing the alternatives:

Simplii Financial — up to $500 in cash rewards for new clients who add direct deposit. Better if you want a full chequing account backed by a Big Five bank. Simplii bonus
Neo Financial — up to $35 bonus with a no-fee Mastercard and up to 5% cashback at partner retailers. Use code E6B8C9Y7 — Neo Financial bonus
Wealthsimple — $25 bonus with a $100 deposit. Better suited if you also want to invest. Use code US0EBW — Wealthsimple bonus

KOHO stands out for the simplicity of its bonus — no deposit minimums, no direct deposit requirements, and one of the fastest payouts available.

Verdict

The KOHO referral bonus is the easiest $40 you can earn in Canadian banking right now. One purchase over $20 is all it takes. Combined with cashback rewards, RoundUps, and a built-in credit builder, KOHO is a genuinely useful everyday financial tool — not just a one-time bonus play.

Use referral code KOHOBONUS40 and claim your KOHO bonus when you sign up today.