How To Transfer Money to KOHO: 4 Easy Steps (2024)

KOHO is an alternative, cheaper, and more effective way of saving and spending your hard-earned cash in Canada.

I’m a fan of KOHO and have reviewed them on Wealth Awesome before. So, let’s find out how to transfer money to KOHO and start taking advantage of their innovative services.

There are three ways to transfer funds into your KOHO account: e-transfer, Mastercard debit, or direct deposit. Once your KOHO account has money, you can start spending with your reloadable Mastercard card or saving within your interest-bearing accounts.

Let’s go through each of these options now.

How To Transfer Money To KOHO


  1. Go onto your KOHO app, click $, Add funds, and then “e-Transfer from your bank.”
  2. Write down or copy-paste your unique e-Transfer email address, which is listed under “e-Transfer yourself at this email.”
  3. On desktop or mobile, log into the bank/credit union you want to transfer the funds from (i.e. CIBC, BMO, TD, Vancity, etc.), and go to the e-Transfer section. Create a new contact with your unique e-Transfer email you noted in step 2. You can name it whatever you like, such as “your name + KOHO.” Note: you only have to do this once!
  4. Send your e-Transfer as usual! Note: your regular e-transfer charges apply.

If you’re a regular e-transfer user, you may be familiar with accepting them from the receiving end using a password. With KOHO, however, auto-deposit is automatically enabled for most users, and the funds will automatically show up in your Koho account without any additional steps.

Is somebody else other than you sending funds to your KOHO? They can use the email from step 2 to do so, just like you!

If you do not see the funds in your account within three hours, KOHO recommends reaching out to them via their app.

Mastercard debit

How To Transfer Money To KOHO:Visa debit

This is the swiftest and easiest way to add funds to your KOHO account because everything is done through their app – without having to visit the online services of your other financial institution.

However, it is only available to those who have a personal Mastercard Debit card (that is, a card that shows the Mastercard Debit insignia on the front). The Mastercard Debit must have your own name on it, must not be expired, and be registered to your home address (also the same address on your KOHO file).

If you have a Mastercard Debit card under your name, you can follow these steps to quickly and efficiently load funds onto your KOHO account:

  1. Open the KOHO app, go to $, Add Funds, and Mastercard Debit.
  2. Enter the necessary details of your Mastercard Debit.
  3. Input the amount you’d like to load from your Mastercard Debit card to your KOHO account.
  4. Click Add Funds. The funds should arrive only within a few minutes.

Please note that although your first Mastercard Debit fund upload is free of charge, there is a $0.75 charge for subsequent transfers if they are less than $300. For transfers above this amount, there is no charge.

Direct deposit

Direct deposit

The third and final method to transfer funds to your KOHO account is through direct deposit. These are simply pre-authorized credits to your account put through by your employer, payroll department, or government agency.

  1. Open the KOHO app, click the $ symbol, “Set up direct deposit,” and then go ahead and download the direct deposit void cheque form. The depositor will need this information to put the funds directly into your KOHO account.
  2. Important: you need to make sure that the depositor is using the exact information that is on the form you’ve provided them. More specifically, your name on the direct deposit must exactly match the name on your KOHO account.
  3. Ensure that the direct deposit will be within your account’s velocity limits (which is $20000 per transaction for standard accounts). Once sent, direct deposits will be in your account within one to two business days. To see the full list of KOHO’s velocity limits, head here.

Please note that other than these three ways, there are no other methods to transfer money into your KOHO account. This means that cash, cheques, or wire transfers are not accepted, and you will not be able to use these methods to fund your account.

This is because KOHO is simply a financial service (not a bank or credit union) and thus does not have a SWIFT code or IBAN number associated with it.

Can I deposit cash into KOHO?

Can I deposit cash into Koho?

You cannot deposit cash into your KOHO account. If you’re wondering, however, you can withdraw cash from your account through the use of ATMs.


In total, there are three ways to transfer money to KOHO: e-transfer, direct deposit, and Mastercard Debit.

I hope this post was helpful for you. If you’re wondering about virtual credit cards in Canada (like KOHO), I’ve ranked the best four here on my website!

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Read about how he quit his 6-figure salary career to travel the world here.

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