KOHO Joint Prepaid Mastercard®

Easily share saving goals and finances with your partner

Updated: Jul 4, 2024

Advertiser Disclosure

KOHO Joint Card is a reloadable prepaid card issued by a Toronto-based fintech company - KOHO Financial. It is designed especially for couples - or any two people who would like to manage their finances together without completely merging their budgets. As of recently, it's licensed by Mastercard.




0% Fixed



15 User Ratings

KOHO Joint Prepaid Mastercard®

at Koho Financial Secured website

Apply Now

Introductory APR


Intro APR Period


Recommended Credit

Bad Credit OK

Key Features

  • Shared savings goals
  • 0.5% cash back all purchases
  • Easily share finances
  • Credit building on demand
  • 1.2% APY with KOHO Earn Interest
  • No account fees
  • Referral bonuses
  • Instant notifications when you and your partner spend

Our Take

KOHO Joint is one of three payment options from KOHO, in addition to KOHO Prepaid and KOHO Premium. The Joint prepaid card and account are available only in the free version, which is hardly a bad thing. The card is affordable, the account comes with great perks, and the budgeting app is user-friendly. Is KOHO Joint card a good choice for what you need, though?

KOHO Joint Prepaid Card is Best for

Before spending the next few minutes reading about a card you don’t need, allow us to save you some time – if you prefer managing your money alone, KOHO Joint isn’t suitable for you. It is a joint account1, so you’ll get two connected cards for two people. If you fall under any of these categories, KOHO Joint should be an excellent choice:

  • Couples (or any two people) who want to manage their finances together;
  • People who’d rather be in charge of their funds than return credit to banks;
  • Couples who are trying to develop healthy spending habits and save more;
  • Those who are looking for alternative ways to earn interest and build credit.

What Are KOHO Joint Prepaid Mastercard Advantages?

If you’re looking into joint accounts for you and your (financial) partner, your search might end right here. Right off the bat, we must say that KOHO Joint offers a couple of benefits that you won’t be able to find anywhere else. It’s smart, reliable, and practical, but it’s not for everyone. The pros of choosing a KOHO Joint prepaid card are:

Financial independence from banks

KOHO Joint is a prepaid reloadable card, which works in a similar fashion to debit cards. There is no credit or reporting to banks and other financial institutions. You load your funds to the card and spend your money however and whenever you want. It’s complete financial freedom. Of course, you can use KOHO Joint as your primary account and have your payroll transferred directly to your card. You can also pay your bills using a Koho app. However, if you want to receive eTransfers and write cheques to non-KOHO accounts, that’s one thing you won’t be able to do. The good with this Joint is – your partner will have a an account too.

Shared funds and family management

This brings us to KOHO Joint’s star feature – the budgeting solution for couples. Everything you do with your money will be visible in real-time to your chosen account partner, and vice versa. Every time you use your card, the other person will receive a notification. If you’re comfortable with this level of transparency, KOHO Joint will help you manage your money. It also allows you to set shared savings goals2, like for travel and expensive purchases. Saving for a joint financial goal is easier than being frugal on your own. There’s a certain gamification element to it, which promotes healthy competition and collaboration.

KOHO Joint is completely free of cost

Arguably the best advantage of using any KOHO card (aside from Premium) is the price. The Joint account card will costs $0 for you and your partner. There is no monthly fee, no transaction fee, no eTransfer fee, and no NSF fee. The only time you’ll have to pay is when you’re making a foreign transaction – 1.5%.

The ability to save while spending

KOHO Financial has made a name for itself by staying true to frugality and healthy personal financing. All three types of KOHO accounts, including Premium, offer excellent opportunities for saving and earning money. The company allows you to save while spending and earn while saving. The following features are the best in this regard:

  • An award-winning 0.5% cash back on all purchases made with a Joint card;
  • Earning up to an additional 5% cash back at select merchants online and offline;
  • Rounding up your transaction amount and stashing your change;
  • Setting savings goals and working towards them together with your partner one day at a time;
  • A 1.2% interest on deposit for both spending and savings accounts;
  • KOHO’s new referral program allows you to earn up to $1000; 
  • The Early Payroll feature advances you a $100 from your payroll without any additional fees.

Perhaps the greatest opportunity for earning money using the card is provided by KOHO’s amazing 1.2% APY rate. The only thing you have to do is apply for the Earn Interest program when you’re opening an account and make a direct deposit of any amount.

Credit-building program on prepaid

Credit-building on prepaid used to be impossible before KOHO started offering this option a couple of months ago – it’s a simple program that requires you to take a line of credit and make a $7 repayment. Every time you make a payment, KOHO Financial reports that to the credit bureau. It is an on-demand option, so you don’t have to participate.

Are There Any Drawbacks?

KOHO Joint comes with a very few disadvantages, nighter of which should be a deal-breaker. Even so, you should consider the things you don’t get with KOHO Joint Card, compare them with what the competition has to offer and draft your own list of pros and cons accordingly. The cons of choosing a KOHO Joint prepaid card are:

Not great for travel

If you and your partner are frequent travellers, KOHO Joint might fail you the moment you cross the Canadian border. First, there’s a 1.5% fee on every foreign transaction, which means you’ll lose money every time you purchase something in non-Canadian currency. Second, there aren’t any travel perks with Koho Joint. Most issuers offer some kind of rewards program for users who fly often or long distances. While KOHO Premium gives cash back for transportation, Koho Joint also falls short in this regard. There’s no travel insurance, car rental insurance, or airport lounge access either.

Limited insurance

Speaking of insurance, you won’t be getting even the basic perks that are already a staple in the payment card industry. KOHO won’t cover your phone or car, but the greatest drawback is the complete absence of purchase protection or extended warranty.

Similar Offers and Alternatives

Bottom Line

Despite the unexplainable lack of travel perks and insurance, KOHO Joint is still a fantastic prepaid card that delivers on its promises in every way. If you need a joint account, then this is probably it. Who wouldn’t love a 0.5% cash back on everything and a 1.2% interest rate?

On top of its savings-oriented capabilities, KOHO Joint Prepaid Card comes with excellent budgeting tools for shared finances. You and your KOHO partner will have access to each other’s accounts, share couples’ goals, and track the other person’s savings and chequing accounts. It’s a great way to split the check.

All in all, KOHO Joint is a great choice for frugal couples.

Frequently Asked Questions

Reference Index

  1. What is a joint bank account? Bankrate
  2. 8 reasons couples should combine finances. Business Insider
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Basic Information
Issuer: Koho Financial
Network: Mastercard
Category: Consumer (Premium)
Best Used For:
  • Guaranteed Approval
  • Debit Cards
  • Build Credit
  • No Min Income Required
  • Beginners Card
  • Virtual Card
Rewards: Yes
Reward Types:
  • CashBack Rewards
  • Universal Rewards
Reward Units: Cash
Rates & Fees
Annual Fee: $0
Opening Min: $10
Application Fee: $0
Other Fees:
  • Foreign Currency fee: 1.5%
  • Credit builder: $10 / month
  • Extra card fee: $0
  • NSF fee: $0
  • e-Transfer fee: $0

KOHO Joint Prepaid Mastercard® Alternatives

KOHO Joint Prepaid Mastercard®

KOHO Joint Prepaid Mastercard®


Annual Fee


Regular APR


Intro APR


Rec. Credit Score

Bad Credit OK

*The information provided for KOHO Joint Prepaid Mastercard® is believed to be accurate at the time of evaluation or recent update on July 4, 2024. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.

KOHO Joint Prepaid Mastercard®

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KOHO Joint Prepaid Mastercard®

KOHO Joint Prepaid Mastercard®

Rec. Credit Score: Bad Credit OK

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