We’ve updated how your KOHO Savings account works. This change is rolling out gradually, so you might not have it yet.
Your Goals and RoundUps now function as a dedicated Savings account, separate from your Spendable balance 💰
What changed?
Goals and Roundups now act as their own Savings balance, similar to how your Vault works.
That means:
Your Spendable balance is used for everyday transactions
Your Savings balance (Goals + RoundUps combined) is set aside
Your Vault remains separate for longer-term savings
You can still see all of these in the same place in the app. What’s different is how the money can be used.
What this means for your Goals and RoundUps
Your Goals and RoundUps balances are now protected from everyday spending.
The balance in your Savings:
Can’t be used directly for card purchases
Can’t be used for bill payments
Can’t be used for pre-authorized debits
If you want to use money from your Savings, cash out your Goal or RoundUps to your Spendable balance. Transfers are instant and can be done anytime.
What you’ll see in-app
1. Easier to see what you can spend
Only your Spendable balance changes when you make a purchase.
Your Savings balance stays set aside unless you move money in or out.
This makes it easier to know exactly how much you can spend without touching your savings.
2. RoundUps or Goals cash outs in your transaction history
You’ll see these because money moved between your Savings and your Spendable balance.
When you:
Cash out a Goal
Cash out RoundUps
The money transfers from Savings back to Spendable. That transfer shows up in your activity feed so you can keep track of it.
You can also see your contributions and cash-outs in your Save activity feed. We show these so you always know how much you’ve added, how much you’ve moved, and how your money is growing.
How spending works with Goals and Roundups
Only your Spendable balance can be used for:
Card purchases
E-transfers or K2Ks
Bill payments
Pre-authorized debits
Other money movement
If there isn’t enough money in your Spendable balance, the transaction will be declined even if you have enough money in your Goals or RoundUps.
To complete the transaction:
Move money into your Spendable balance. You can:
Withdraw from Vault
Cash out a Goal
Cash out a Roundup
Retry the payment
What happens to Goals and RoundUps on my Joint account?
If you have a Joint account, this update applies there as well.
Goals and RoundUps in your Joint account will function as a shared Savings balance for that account. Both account holders can continue to view and manage the savings.
Over the next few months, all accounts will be automatically migrated to the new Savings experience.
If you’d like to switch sooner, you can manually migrate by:
Cashing out all RoundUps
Deleting all Goals (deleting a Goal will cash out the balance first)
Once there are no active Goals or RoundUps, the account will move to the new Savings experience.
What about earning interest?
If you’ve opted in to Earn Interest, you’ll continue earning interest on your Savings balance, and there’s no change to how interest is calculated.
Important note
If there aren’t enough funds in your Spendable balance, KOHO may collect outstanding fees, subscription payments, loan repayments, or other amounts owed from your Savings balance, which includes your Goals, Roundups, and Vault.
KOHO won’t automatically move money from Savings to Spendable to cover everyday purchases or declined transactions. You’ll need to withdraw or cash out funds yourself before retrying the payment.
If funds are collected from Savings, you’ll see the transaction in your account history.