We now support pre-authorized debits (PADs) from your KOHO account
How to set up automatic withdrawals from your KOHO account
You can schedule pre-authorized and recurring payments for things like your car insurance, Wealthsimple contributions, property tax, or your hydro bill.
- You can find all the information you'll need (like an institution and branch number) in your KOHO app under the $ icon > Pay Bills > Get Account Info
- Then update your payment information with your different service providers so that your next internet bill or RRSP contribution comes right from your Spendable
- Want to fund your Wealthsimple account from KOHO? Check out this article for more
- You can have 10 PADs issued to your account in a 30-day rolling period, full details here
- If you don’t have enough funds in your account, the PAD will be rejected.
Note: At the moment, you can't pay a credit card account through a PAD from your KOHO account. However, you can do bill payments through the app. We also are not set up to support a PAD from gambling or payday loan companies. If you have questions about the payments you can make from your KOHO account, contact us.
Any lingering questions? Contact our super-friendly support team through the in-app chat function!
Additional Articles you may find helpful:
How do I pay a bill?
Can I link my KOHO card with my PayPal, Xoom, or Stripe account?
How do I set up Direct Deposit?