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How does cash back work?
How does cash back work?
Updated over a week ago

What is my cash back rate?

Want to know how much cash back you can earn? In-app, just tap Cash back and look under My cash back rate. For details on the rate, press the question mark button (?) next to the cash back rate for more information.

How long does it take to receive cash back?

Your cash back will be applied once the transaction is marked as "settled" on your activity feed (typically in 2-3 business days) 💰

How do I redeem my cash back?


To redeem your cash back in-app, select Cash back on the Spend (home) page > Redeem.


Log into your account on KOHO Web. Under Cash back, select Cash out.

Why did I receive no cash back for a purchase?

Your KOHO plan benefits and the merchant category code for the transaction will affect how much cash back you earn. Check out your plan benefits here.

Cash back will also not be accrued on any ATM withdrawal, E-transfer, KOHO transfer, Bill Payment, pre-authorized debits, direct deposits, or other non-purchase based transactions.

How does KOHO categorize merchants?

In order to categorize purchases and award cash back, credit card companies use the merchant category code (MCC) set up by the merchant themselves.

This is what determines whether the purchase is Transportation or Groceries. For example, if you used Uber for a ride share, it would likely be categorized as Transportation!

Please note that a flight purchase would not qualify for Transportation. It is typically categorized as Travel.

Can I change the category of a merchant?

Yes! However, when you reassign the category in-app for a purchase, it only changes the tag in-app and does not alter the actual merchant category code.

The actual MCC is what the cash back rate is based on and is determined by the merchant.

Why did I get different cash back rates for the same merchant?

We understand that cash back can be confusing, especially when you feel that the merchant category code (MCC) you are seeing in-app doesn’t align with what was actually purchased.

To determine the cash back rate, it is dependent on the merchant category code that the merchant uses to classify themselves. This could be unique to the merchant location or the payment terminal. Merchants that may have varying merchant category codes include Walmart and Costco.

For example: If you recently made a purchase with Walmart, they may have the merchant category code as Retail. However, if you went to a different Walmart or pay terminal, they may classify themselves as Groceries.

How do I get more cash back?

To earn extra cash back, we have partner cash back too!

If you would like to get even more cash back, we would recommend upgrading your plan. Compare plans here.

Some more information:

  1. Cash back provides a credit on select settled authorizations.

  2. KOHO members can, at any time, release accrued credits from within the app.

  3. KOHO reserves the right to end the promotion at any time, no less than 90 days from the initial implementation of cash back. Future authorizations or settled authorizations will not be eligible for cash back if and when KOHO has discontinued the promotion.

  4. Settled authorizations typically take 3-5 days to settle. KOHO is not responsible for merchant settlement policies or timelines.

  5. 100% of the settled authorization amount is eligible.

  6. Cash back will not be accrued on any ATM withdrawal, E-transfer, KOHO transfer, Bill Payment, pre-authorized debits, direct deposits, or other non-purchase based transactions.

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