What are wire transfers?
Wire transfers are electronic transfers from one bank to another. They can also be sent between credit unions.
Can I receive funds via wire transfer, to my KOHO account?
Since KOHO is a financial service and not a bank, KOHO accounts cannot accept wire transfers. This is because your account at KOHO does not have have a Swift Code, International Bank Account Number (IBAN), or a Bank Identifier Code (BIC).
As long as the funds are in CAD currency, the sender should be able to arrange that via direct deposit instead! 💸