How Koa Works!
Koa is a simple, seamless and hassle-free Savings platform that helps you save and grow your money at the tap of a button. We wanted to provide you with this guide to break down the process of signing up and starting to save with Koa.
Below we will walk you through the step by step process of getting started with Koa. You will first need to start by downloading the app from either the App store of the Google Play store. Once you have downloaded the Koa App on your smartphone. The app will walk you through signup, where you’ll create a user account and create a savings goal. You’ll be able to use both mobile money i.e Mpesa and bank payments to transfer funds into your savings goal.
Step 1: Sign up on Koa by creating your account with Google or Apple ID, then enter your personal details.
Step 2: Set up your 4-digit pin and validate by reentering.
Step 3: Finish set up by inputting your bio data details,
**Feel free to review T&Cs at this point (Menu>T&Cs)
Step 4: Proceed to submit all the mandatory KYC details and documentation for verification and validation i.e National ID, passport photo. The KYC verification process takes approximately 24 hours to complete.
Step 5: Once your KYC has been verified you can move forward to goal creation. Give your goal a name, set the amount you want to save and we will give you a summary of your choices, if you agree then you can save the goal.
Step 6: Once your goal or savings pool is saved you will need to start funding it by selecting your preferred payment option i.e. Mpesa or Card Payment and proceed to choose the goal to transfer to, input the amount to transfer and proceed to payment verification. For Mpesa transfers, you will receive the Mpesa STK push where you will input the Mpesa pin and confirm the transfer to your Koa savings account. For card payments, you will be required to input your card details to process the funds transfer into your Koa account.
For more information on getting you started with the Koa App, have a look at at the short video below:
How do I access my Koa savings?
How do I set a savings goal?
Tap “Save” in the Koa app, choose from our suggested goals or create your own. Add the required goal details description and the amount you’d like to save, and when you’d like to save it by and tap “Save”.
What can Koa save for?
There’s no limit to the number of goals you can set. Use Koa to save for a rainy day, a vacation, or a friend’s birthday gift. You can pay down debt or save up money to invest. And you can move your savings from one goal to another as often as you wish.
Does Koa work outside Kenya?
Unfortunately, Koa is in Kenya only right now. We plan to expand internationally in the future.