KOHO Cash Advance
KOHO Cover offers instant cash advances with no interest, no credit checks, and no hidden fees, providing Canadians with a smarter way to manage short-term cash flow. Users can access up to $250 instantly through the KOHO app to bridge the gap between paydays. Repayment is automatic on the next direct deposit, offering a transparent and flexible solution.
Expert Review
Best For
Canadians who need a very small amount of money to bridge the gap between paydays without credit checks or interest charges.
Our Take
KOHO Cover is not a loan in the traditional sense, but rather an interest-free cash advance feature within the KOHO financial app. It is designed to help Canadians manage short-term cash flow gaps without resorting to high-interest payday lenders. With advances up to $250, no interest, and instant access, it serves as a micro-solution for everyday money hiccups.
What We Like
- No interest charged on advances
- Instant funding through the KOHO app
- No credit checks or paperwork required
- Automatic and flexible repayment on next direct deposit
- Transparent fee structure with no hidden charges
Where to Improve
- Maximum advance amount is limited to $250, not suitable for larger expenses
- Requires a subscription to the KOHO Cover bundle, incurring a monthly fee
- Does not contribute to building credit history
Verdict
KOHO Cover is a solid option for managing minor, short-term cash flow gaps, especially for existing KOHO users seeking a low-cost and convenient solution. While it's not for large financial needs or credit building, it offers a cleaner and safer alternative to traditional payday loans for small, immediate expenses.
Brand Signals & Trust
Years in Business
12+
Geographic Reach
Canada-wide
Product Diversity
1 product
Customers Served
Over 1.7 million
Trust Badges
Quality Lender, No Credit Check
Products Offered
KOHO Cover (Cash Advance)
Amount Range
Up to $250
Interest Rate
0% APR (has fees)
Term
No fixed repayment schedule (typically on next direct deposit)
Funding Speed
Instant
Eligibility
- Must subscribe to the KOHO Cover bundle (starts at ~$2/month)
- Must have an active KOHO account
- No credit check required
- No proof of income required
Google Reviews
346 Google reviews
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Wednesday: 6:00 AM – 9:00 PM
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Worst experience ever!!!! Beware of fraudsters using this company name. Made me sign a contract for 10k promising to put funds in my account after every transaction to their bitcoin machine. All they did was empty my accounts and I feel so stupid for letting it happen. This is all my doing giving passcodes to my banking. What a time to be frauded at Xmas. Please if you use this service make sure you are talking to someone who actually works there. This guy Harvey Brien took me for ride for 4 days promising funds would be in my account. Now I have to close everything and call numbers to make sure my name don't get frauded again. I have already made a police report. Unbelievable heart ache this has caused me. Also be ware he will tell you I made this comment because I never qualified for the loan but reality he took the only money I had. Had 1600 when he first called me now my account is -1147
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How KOHO Cash Advance Compares
Quick Eligibility Check
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