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Clarification on Paying Off Koodo Tab Balance and Tab Bonus Balance

  • 5 May 2023
  • 5 replies
  • 817 views
B

Hello there,

I have a question regarding my current account. I still have a remaining tab balance of $480, which I am scheduled to pay off over the next 15 months. Additionally, I have a Tab Bonus balance of $226.20. As a loyal Koodo customer for over nine months, I am interested in paying off my remaining tab balance in one lump sum payment.

However, I am unclear about what would happen to the remaining Tab Bonus balance if I choose to do so. I was informed that if the Tab Bonus balance is over three months old, I can pay off the remaining tab balance without having to pay the Tab Bonus balance. Can you please confirm if this is accurate or if there are any other factors that I should consider?

Thanks

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5 replies

D
Userlevel 7
Badge +4

The tab is kind of an interest free loan.  May I ask why you are choosing to pay this off early?  Are you looking to upgrade soon or to leave koodo?  If you are intending to do this, you will need to pay back the remaining tab bonus at the time of upgrade/departure.

If you are not upgrading early or leaving Koodo, you will not have to pay off the Tab bonus amount.  The Tab bonus amount will continue to decline over the 24 month period of when you signed up for your tab.

 

https://www.koodomobile.com/en/help/Tab-bonus

 

Mobile Masters are not Koodo Employees. Our opinions are our own. But consider us Super Users who can answer your questions or at least point you in the best direction to resolve your issues. https://community.koodomobile.com/mobile-masters-231240/mobile-masters-faqs-6831949
Allan M
Userlevel 7
Badge +4

The tab bonus only will be charged if you get a new phone on the tab, cancel your account, or switch to an ineligible plan before the 2 years is up.

Otherwise, you can do things like paying off your tab balance without it effecting the tab bonus. (The tab bonus will just sit there on the account and reduce itself until the 2 year period is up)

B

The tab is kind of an interest free loan.  May I ask why you are choosing to pay this off early?  Are you looking to upgrade soon or to leave koodo?  If you are intending to do this, you will need to pay back the remaining tab bonus at the time of upgrade/departure.

If you are not upgrading early or leaving Koodo, you will not have to pay off the Tab bonus amount.  The Tab bonus amount will continue to decline over the 24 month period of when you signed up for your tab.

 

https://www.koodomobile.com/en/help/Tab-bonus

 

I have no plans to switch from Koodo; I simply wish to settle my remaining tab balance in full rather than paying it off monthly. However, I am considering changing my plan once the balance is paid. I am unsure how this will impact my Tab Bonus balance, though.

B

The tab bonus only will be charged if you get a new phone on the tab, cancel your account, or switch to an ineligible plan before the 2 years is up.

Otherwise, you can do things like paying off your tab balance without it effecting the tab bonus. (The tab bonus will just sit there on the account and reduce itself until the 2 year period is up)

Can you please clarify what criteria determine whether a plan is eligible or ineligible for switching without having to pay the Tab Bonus balance?

Allan M
Userlevel 7
Badge +4

Can you please clarify what criteria determine whether a plan is eligible or ineligible for switching without having to pay the Tab Bonus balance?

For example:
Plans start at $62/m for tab plus. If you’re current tab is tab plus, you couldn’t switch to a $45 plan.

 

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