Cover gives you access to extra cash when you need it. With Cover you get:
A cash advance to cover payments and prevent declined transactions
Personalized advice from a certified Financial Coach
A Credit Report
There are no penalties or late fees, but if you don’t repay the borrowed money you may not be able to use Cover again in the future.
After you sign up we’ll add the cash advance that you selected straight into your KOHO account for you to use right away. Your Cover balance is displayed separately from the other money in your account.
You can use the cash advance for everyday purchases, to pay bills, or even set up automatic payments. But your Cover balance cannot be sent via e-Transfer, K2K (KOHO-TO-KOHO), or added to your Vault.