The top benefits of Koho Essential Mastercard
✅ 1% cashback on groceries, food, drinks, and transportation
✅ 2.5% annual interest on all your account balance
✅ Up to $100,000 CDIC protection when earning interest
✅ Unlimited free transfers and instant e-Transfers
✅ No monthly fee with recurring deposits of $1,000 or more
Why we think Koho Essential Mastercard is worth considering
The Koho Essential Mastercard is designed to give you real daily advantages without overcomplicating things. Cashback on everyday essentials like groceries, transit, and meals means you actually see value in regular spending. At the same time, your account balance grows passively with 2.5% annual interest — helping you save without effort.
One of its strongest points is zero monthly fees, as long as you keep up with simple deposit rules, like adding $1,000 per month or setting a direct deposit. This makes Koho Essential practical for those who prefer to avoid hidden costs. You also get instant access to a virtual card, full app control, and unlimited e-Transfers to move your money around easily.
If you’re looking for a tool to manage daily spending and grow savings at the same time, Koho Essential fits well. It’s ideal for people who want control over their money without dealing with interest rates or traditional credit card debt. Everything is straightforward, from earning cashback to accessing funds securely via Apple Pay and Google Pay.
Author’s opinion
Experts highlight that Koho Essential Mastercard offers a unique blend of flexibility and reward. The 1% cashback and 2.5% interest make it more than just a spending tool — it’s a way to make your money work quietly in the background. However, since this is a prepaid card linked to your balance, it doesn’t offer credit or large limits, which might not suit those needing extra credit lines.
Still, for people focused on managing expenses, earning small rewards, and avoiding fees, Koho Essential delivers well. The ability to use a virtual card, earn on your balance, and get protection under CDIC (when opted for interest) makes it a solid choice for digital users. It’s an option to consider if you prefer modern, app-based finance management without risking debt.
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