Pre-Authorized Debit (PAD) 💵

We now support pre-authorized debits 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 institution and branch number) in your KOHO app under Home > Add Funds > Payroll Direct
  • 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 20 PADs issued to your account a 30 day rolling period, full details here
  • If you don’t have enough funds in your account, the PAD will be rejected.

Note: We do not support payments to non-financial institution loans at the moment. If you're unsure about what payments we support, please reach out.

We also are not set up to support a PAD from gambling or pay day loan companies.

Any lingering questions? Contact our super friendly support team through the in-app chat function!

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