With KOHO, you get paid faster*. We process payments as soon as we receive them, usually the night before pay day. If anything comes up during the process, we’ll contact you directly with the next steps.
Heads up: we don’t process direct deposits on Sundays or holidays.
*While Direct Deposits are typically received and processed the evening before your scheduled payday, the actual timing may vary depending on when the payment is issued. Please allow up to 2 business days for complete processing.
Does KOHO process direct deposits every day?
We process direct deposits Monday to Saturday. If your deposit falls on a Sunday or holiday, it will be processed the next business day.
Are there any requirements for direct deposits to KOHO?
Yes, there are important requirements to keep in mind:
Name match: The name on your deposit should closely match the name on your KOHO account.
For example, if your KOHO account is under the name "Jacob Yixin Chen," a deposit from "Jacob Chen" or “Yixin Chen" would generally be accepted, but names that are significantly different may be rejected.
No international wires: KOHO doesn’t support SWIFT or IBAN codes, so we can't accept international transfers.
If anything comes up during the processing, we'll contact you directly with the next steps to resolve any issues.
How do government benefits deposits work with KOHO?
The Canada Revenue Agency (CRA) will send you a notification in advance to let you know the general timeline for when your benefit payments will be sent. The payments may not have been issued yet, but this lets you know roughly when to expect them.
💡 You can also check the CRA’s benefit payment dates to see when deposits are expected.