KOHO is a free spending and savings account where you can get instant cash back and earn interest on your entire account. You get a prepaid reloadable Mastercard that gives you all the spending power of a credit card without any fees or interest. Unlike a credit card, however, the KOHO card draws from funds that are already your money. This key difference makes you spend more mindfully and effectively save more. It’s connected to a smart budgeting app that simplifies day-to-day finances with spending insights and balance updates after each purchase. As a result, the average KOHO user saves 7% of whatever money they load into their account.