How can I pay for my Credit Building subscription fee?
If you signed up for Credit Building, we’ll take the monthly fee from your KOHO balance. This charge will appear as Credit Building Subscription in your transactions.
Quick tip: To avoid missed charges, add a backup payment method like a debit or credit card. In your app, go to Profile Icon > Payment Methods > Add Backup Payment Method.
What happens if my KOHO account doesn't have enough money for the subscription fee?
If you don’t have enough money in your KOHO account for the monthly Credit Building subscription fee, and you don't have a backup payment method set up, your payment will be marked as missed. Our collections service will then attempt to withdraw the fees for two more days.
If there are three missed fee payments in a row, your Credit Building will go into NSF (Non-sufficient funds) status.
My Credit Building account is showing NSF status. How can I pay the outstanding Credit Building subscription fee to fix it?
To pay your outstanding Credit Building subscription fee, simply add money to your KOHO account. We recommend using e-Transfer or setting up direct deposit.
If you have enough money in your account, but the fee isn't being collected, adding money to your account may trigger our system to process the payment.
My Credit Building was in an NSF state. How will I know when my Credit Building subscription fee was automatically collected?
A charge will appear as Credit Building Subscription in your transactions.
If my Credit Building fee is in NSF status, will I have to repay my line of credit if I withdrew my Credit Building money?
Yes. We’ll first attempt to collect the full outstanding payment on your billing date. If the first attempt is unsuccessful, because you don’t have enough money in your account, we will try to collect a minimum payment of $67.50.
We will try to collect the line of credit repayment up to three times. After the third attempt, your payment will be in NSF. You’ll be unable to withdraw a payment in an NSF state.
When the payment is in NSF, we will collect the entire outstanding balance of the withdrawn line of credit.