UPDATE 🚨 KOHO now allows you to accept e-transfers from anyone!! 🎉👏🥳 get 1.2% cashback here: https://www.moneywithmark.ca/go/koho-...

Have you thought about trying KOHO? Then you NEED to know the 2 BIGGEST limitations that KOHO has.

The 2 biggest cons of KOHO are this:
1. Some companies do not accept pre paid visa cards. Companies like Paypal, and hostel world. Apparently pre paid visa cards are associated with fraud so this may be a trend that sees growth.
2. This is the biggest drawback of using KOHO. Your friends can't send you e-transfers. This is a huge drawback as most Canadians use e-transfer to send money back and forth between friends and family.

What else am I missing?

Want to give KOHO a shot still? Get an extra 1% cashback when you use this link:
https://www.moneywithmark.ca/go/koho-1/