KOHO Cover advances without credit checks

Cover combines a spending buffer with a paid bundle

KOHO Cover provides access to an advance through a paid subscription bundle. KOHO states that it does not perform a credit check when determining Cover eligibility, while the available limit is assessed within its system. The balance is designed for supported spending and payments through KOHO. It cannot be treated as an unrestricted transfer facility: its current guidance excludes sending the Cover balance by Interac e-Transfer or KOHO-to-KOHO transfer.

Check how the balance can be used

Compare the bundle fee with how often you expect to use the advance, and read the agreement presented for your account. An interest-free advance does not make a paid bundle cost-free. KOHO also states that prolonged unpaid balances may be reported to a credit bureau. A household budget review can help decide whether the buffer addresses occasional timing differences or an ongoing shortage; the latter is unlikely to be solved by increasing the available limit.