KOHO offers interest-free cash advances via Cover

KOHO offers a financial product called Cover, which serves as an interest-free cash advance within its app. Designed as an alternative to traditional payday loans, the service allows eligible users to access funds without credit checks or income verification.

The amount available for an advance is determined by KOHO based on individual account activity, with a maximum potential limit of $500. While the company advertises this ceiling, approval is not guaranteed, and new or less active accounts typically receive lower initial limits. Users must have an eligible KOHO plan and activate the Cover feature to access funds, which are deposited directly into their account.