KOHO is a free, no-fee spending and savings account that’s changing the way Canadians do money.
Like all good things, KOHO comes in threes. First, it starts with this very app that’s designed to help you budget your finances like a pro. It’s connected to your account, where you can earn 1.2% interest* on your entire balance. Finally, we have our reloadable prepaid Visa card. It works like a Visa debit, except you get to make at least 0.5% cash back on every purchase.
Make instant cash back
Get 0.5% cash back on every purchase with our standard free account. Want a little more? Try KOHO Premium for $9/month or $84/year to earn 2% cash back on eating and drinking, groceries, and transportation.
Banks love to charge fees (the average Canadian spends $159 a year in bank fees!). We say, enough with this BS — bank stuff, that is. At KOHO, proudly not a bank, we’ll never charge you fees for overdrafts, e-Transfers, ATM withdrawals, or non-sufficient funds.
Grow your credit score
Whip your credit score into shape with Credit Building. For only $7/month, this feature will handle the nitty-gritty work of improving your credit score and your future financial opportunities. Credit scores provided by TransUnion.
Earn 1.2% interest on everything
Yes, we mean everything! From your Spendable to your savings, you can earn 1.2% interest* (that’s 2x the national average) on your entire account by setting up Direct Deposit.
Spend smarter, save faster
Real-time balance notifications and spending insights level up your budgeting game. In fact, the average KOHO user saves 7% of the money they put into their account each month.
Get paid early
With our Early Payroll feature, you can access $100 of your next Direct Deposit paycheque, 3 days early, for free. Or, access $100 of your next paycheque any time for $5. No interest, no catch — just a little help when you might need it most.
Start spending in minutes
Signing up is easy and fast — we’re talking 5 minutes, zero credit checks. Plus, you’ll get a virtual prepaid Visa card immediately upon registration. That means you can start online shopping and earning cash back in minutes; no need to wait for your physical card to arrive in the mail.
Do it all with KOHO
While KOHO isn’t your average personal finances platform, it can fulfill all your money needs. Pay bills, send Interac e-Transfers, and even set up Direct Deposit with your employer to have your paycheque (or part of it) automatically loaded to your account.
Keep your money safe
KOHO is trusted by over 350,000 Canadians and backed by the country’s leading investors. Your money is held securely by our partner Peoples Trust, a federally regulated financial institution. You can also lock your card in-app anytime, and are also protected from unauthorized use under Visa’s Zero Liability policy.
Take the driver’s seat
We’re building KOHO for our users, so our continuous growth is grounded in the feedback we get from you! Reach out to us in-app if you have ideas for improvement. Love KOHO the way it is? Spread the word and refer a friend — we’ll reward you and your pal with $20 every time you refer.
Featured in NASDAQ, Bloomberg, The Globe and Mail, CBC, Toronto Life, Yahoo Finance, and Financial Post.
KOHO is a Fintech company, not a bank. KOHO partners with a variety of banks to deliver our product.
*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.
Nothing new to report this time around; just taking a moment to appreciate KOHO in its current glory.
Ratings and Reviews
Simply the best
I will never be without my Koho card.
I had all three of my bank accounts emptied out 3 weeks ago and all I had usable was my Koho card
I was super happy it still had money on it and once my money was returned I was able to transfer out of my bank account to Koho, it saved me major headaches, I had to wait 10 days for a new debit card by mail.
Besides who has cash these days without a debit card you are basically hooped. Thank goodness for my KOHO CARD
Developer Response ,
Awesome to hear! Thanks so much for the review and for being part of KOHO :)
Consumer BEWARE DO NOT DEAl WITH
As a member of Koho for over 2 years I recently was locked out of my account without explanation or questions asked that can justify any concerns , Koho customer service is garbage and very unsecured I spoke with Vino they had me send pictures of my ids via email then that wasn't enough according to Vino who still wouldn't tell me what this was all about he wanted a selfie now of me holding my ids By email once again , I questioned the procedure and mentioned that I didn't feel that was normal nor secure procedure but i ultimately just sent them , 4 days of trying to get answers ( 1 email reply per day ) Vino tells me R&C ultimately decided to keep the account closed i had 24h to use all remaining funds ... no explanation nothing , First id like to mention if anyone is getting there payroll deposits or government deposits via koho IMMEDIATELY FIND ANOTHER SOLUTION as you may be a victim of there foul practices and be locked out of your account for days if not weeks while these stoners they call customer service agents play with u asking for selfies , I would defiantly stay away from koho BEWARE CONSUMERS THIS IS A VERY SHADY FINANCIAL INSTITUTION COMING FROM A 2 YEAR PLUS MEMBER AND LOCAL GOOGLE GUIDE !!! PS MY MONEY AND BUSINESS WAS GOOD FOR THEM WHEN I WAS PAYING A PREMIUM OPTION JUST CANCELED IT RECENTLY HOW VERY CONVENIENT AND SHADY ONCE AGAIN !!!
Developer Response ,
Hey there! We're sorry to hear you had a negative experience with us. We truly appreciate your feedback. We hope that this issue has since been resolved and if that isn't the case please reach out for assistance in-app or by calling us at +1 855-564-6999
Still no Quebec support
They clearly don't care about that part of the country. Full transparency or not, other banks have done the right thing to include Quebec (like Alterna who opened very recently) but Koho only care about the English part of the country and they've put in the back Burner just like Mojo Bank before them. On twitter, all they do is talk about how great a Canadian business they are. If they were, they would include ALL Canadians
Developer Response ,
Bonjour! We launched in Quebec in June 2018. I hope you've had a chance to join us, and it would be helpful if you'd consider updating your 1 star review. We're thrilled to be able to serve the whole country now :) Thank you so much!
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
Data Linked to You
The following data may be collected and linked to your identity:
- Financial Info
- Contact Info
- User Content
- Usage Data
Privacy practices may vary, for example, based on the features you use or your age. Learn More
- Koho Financial Inc.
- 88.4 MB
- Requires iOS 11.0 or later.
- iPod touch
- Requires iOS 11.0 or later.
English, French, Spanish
- Age Rating
- © 2016 Koho Financial Inc.
Up to six family members will be able to use this app with Family Sharing enabled.