Rounding it up
First, you or the person sending the money will need to register for a Wise account.
Next, the funds will need to be deposited into your Wise account.
Use the ‘pay someone else’ functionality on the app.
Once the transfer has been confirmed by Wise, sit back and wait.
Whether you’re a Canadian newcomer, a global freelancer, or a nomadic traveller, international transfers are something so many of us need, and we’ve found a great way to transfer money to your KOHO account from overseas through Wise. It doesn’t take ages, it won’t cost you much, and it’s easy as pie, so receiving money from abroad will never need to be a problem again. Phew!
How can I do it?
1. First, you or the person sending the money will need to register for a Wise account. It’s quick, easy, and will allow you to make secure online transfers to your KOHO account regularly. You can do that by clicking here.
2. Next, the funds will need to be deposited into your Wise account. It’s totally free to do this, and it’s a straightforward process once you follow the steps. (Choose ‘send money’ on their website homepage or choose ‘send’ on the app). You can set up a direct deposit from your employer's payroll provider too – handy if you want to send recurring transfers. You’ll also need to provide some more personal details, so be sure to have things like your address to hand.
3. Once you've got the balance in your Wise account, use the ‘pay someone else’ functionality on the app. If someone else is making the transfer, passing on your Direct Deposit details is usually the easiest option and the cheapest one too. You’ll find these details under the ‘add funds’ section when you hit the ‘$’ in the KOHO app.
4. Once the transfer has been confirmed by Wise, all that’s left to do now is sit back and wait. The money usually arrives in your KOHO account within 1-3 business days, but it can sometimes take up to 5, so remember to plan ahead.
Simple, right?
If you run into any issues on our end, you can always use the chat feature on the KOHO app to talk to one of our team. Happy transferring!