Very disappointing. Came here from a survey on Carrot, which made this app sound like a budgeting tool, not a new bank account. Incredibly misleading.
The insight tab in the app actually made a positive impact on how I manage my income. Something all bank apps should provide but don't. Koho sets a standard of how banking apps should be managed and designed.
I've never been one to be financially responsible, but now that I have kids I wanted something that was essentially Mint but in the form of an actual pre paid visa card/account. I own my own business so Mint would pull from all my accounts and I couldn't stick to a set plan or set clear goals. Koho has been truly awesome as it allows me to set aside money for groceries, entertainment for fam and have a limited amount of funds available for online purchases without exposing my core visa debit bank card. I was able to quickly identify where I was wasting money (Uber Eats) and how much I was actually spending on groceries as a 1st month benchmark. The following month I was able to fine tune my spending and cut down on Tim Horton's to allocate to a fund I called "No Coffee" which would take $3.30 a day for a monthly goal of $150. I would then easily send this money to my wife. I also get money back on each purchase that gets stored in a power up category, which quickly adds up per month. My smartwatch gets notified every time the card is used which is great in the event the card number is compromised, you can turn the card off via the app. Highly recommend this app!
In the survey on carrot it looked like a plain budgeting app. Better to be upfront as budgeting, prepaid credit/debit card banking app.
I saw this on the Carrot app, seemed like an app to help you budget... I only noticed it was a prepaid card after I signed up. Seems kind of sketchy as they were not upfront about it. Now I have an extra card...
I found this app on the Visa Canada website, after trying to find an additional prepaid card to go with my current one. So far, so good.
Just a quick sweep of the proverbial eavestroughs to get the app squeaky clean for spring. We shooed away a teeny bug and tightened the security hatches. Over the past couple of releases we’ve optimized speed, our goals feature, and adding funds to your account—so make sure you’re revelling in the full splendour of the latest version by getting this update.