Deposit via Bill Pay
Purpose: This feature allows you to transfer funds from an external bank account into your KOHO account by treating your KOHO account as a bill payee.
How It Works:
Navigate to your external bank’s online portal.
Use the bill pay feature to add KOHO Financial as the payee.
Enter your unique 9-digit KOHO account number (you can find this account number by going to Add Money > Deposit via Bill Pay in-app).
Specify the deposit amount (up to $100,000, depending on your bank).
Money typically arrives in your KOHO account within 1-3 days.
Paying a Bill with KOHO
Purpose: This feature lets you use your KOHO account to pay bills directly, such as for utilities, credit cards, or subscriptions.
How It Works:
In the KOHO app, tap the $ symbol > Pay Bills.
Search for and select the payee (e.g., your utility provider or credit card company).
Enter the account information for the payee.
Submit the payment at least 2 business days before the due date.