If you’re new to Thailand, I highly recommend that you take the time to read my Koho Hiking Review before booking a trip. Many people make the mistake of booking a hiking holiday in Koh Samui with the assumption they will get a cheap price and not have to worry about paying for damage deposits. While this can be true for some holiday villas in Ko Hong Lim and Ko Lanta, it is not the norm. To protect your money and your good health, it’s important you get as much information about pricing and the reputation of your chosen accommodation. My review below details some of the things you should look out for when booking a holiday at a KOHO hotel or resort.
– Credit Card Limits – My first piece of research when checking into a holiday accommodation was to research what the maximum credit card limits were for the accommodation. For me, the biggest issue was the fact that one of our main holiday pressures was to pay for flights home if we missed out a flight, or a cruise! With this in mind, the biggest problem areas for credit card companies in Thailand are the high interest rates on the credit cards.
My second research issue was to see what the percentage of interest would be on any money left in the koho account. My personal preference is for the no-interest savings account that earns a high percentage of cashback on all purchases. In recent times, some hotels have introduced no credit card fee eating into the savings you might otherwise have earned by doling out cash for everything. Another way to avoid some of these fees is to upgrade to a premium room which generally requires a credit card. This way you get extra benefits such as free Wi-Fi, free airtime and priority boarding, among others.
My final thoughts for a KOHO hotel is how easy they make it for customers by allowing them to use a pre-paid card for everything. I don’t feel that a hotel should be defined as a business or leisure travel location. It needs to appeal to a younger, more urban consumer and cater for the urban lifestyle by offering value added services. By allowing customers to pre-pay for everything they need through a pre-paid card, they are able to save a significant amount of money on their trip.
The KOHO app allows customers to pay bills online by using their credit cards. All transactions are managed by the KOHO team and only the authorized card is used to pay bills. If you are looking to use the KOHO app for your regular banking needs, you will need a KOHO bank account, mobile phone and a working internet connection. You can then access your account from any PC or mobile device, where you have access to Wi-Fi. You will be assigned a PIN number and this PIN should always be taken when purchasing anything online.
Some of the other unique services offered in this smartphone app include: pay bills online; pay cash; make reservations; check your balance; pay bills; pay rent and loans; manage other bank accounts and even transfer money from an international account to your US account. The KOHO team has been in the industry of mobile banking for over seven years and it is one of the fastest growing and most sought after companies in the industry. The fact that the KOHO app has everything from a virtual credit card terminal to a free debit card with a limited time offer, it is hard to miss.
One of the main features of this app is the ability to link your KOHO account with your bank so you can make automatic withdrawals from both devices. KOHO also offers free e-transfers to its customers can add up to five credit cards to their e-Transfer. The free e-transfers are great for increasing spending power and reducing spending fees. KOHO will charge you two fees for any debit withdrawal and the other fee is used to cover the costs of maintaining KOHO. This means that the average customer will be paying more than $10 a month just for using this app. It is important to note that the charges are different from one merchant to another and are dependent on the amount withdrawn.
To conclude, KOHO is a great service which offers the ability to pay bills online, free financial coaching, free e-transfers and free cash back offers. To date, it is still the best free app when it comes to electronic cash management. Apple Pay is another great option to consider if you own a MAC computer as this application supports all the major debit cards including MasterCard, Visa and Discovery. If you own a non-apple product, then there are other applications which may suit your needs better. However, for an individual with an iPhone or an iPad, KOHO is probably the best choice.
