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Description

KOHO is a free, smart chequing account that’s changing the way Canadians bank.

Like all good things, KOHO comes in threes. First, it starts with this very app that’s designed to help you budget like a pro. It’s connected to your chequing account, where you can earn 1.2% interest on your entire balance. Finally, we have our reloadable Visa credit card. It works like a Visa debit, except you get to make at least 0.5% cash back on every purchase. Pretty sweet, right?

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 in minutes; no need to wait for your physical card to arrive in the mail.

No hidden fees
Traditional 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, we’ll never charge you fees for overdrafts, e-Transfers, ATM withdrawals, or non-sufficient funds.

Make instant cashback
Get 0.5% cashback on every purchase with our standard free account. Want a little more? Try KOHO Premium for $9/month or $84/year to earn 2% on eating and drinking, groceries, and transportation.

Earn 1.2% interest on everything
Yes, we mean everything! From your Spendables to savings, you can earn 1.2% interest (that’s 2x the national average) on your entire account balance by setting up Direct Deposit.

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.

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.

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.

Do it all with KOHO
While KOHO isn’t your average banking service, it can fulfill all your banking 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 and CDIC-insured bank. 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.

*** Featured in NASDAQ, Bloomberg, The Globe and Mail, CBC, Toronto Life, Yahoo Finance, and Financial Post

What’s New

Version 1.88.0

Be a good friend and get rewarded. Refer for a chance to win $1000 or a Metal Card — but hurry, the contest ends June 30.

Ratings and Reviews

4.8 out of 5
13.8K Ratings

13.8K Ratings

isaythisisit ,

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
right!!!!!

Developer Response ,

Awesome to hear! Thanks so much for the review and for being part of KOHO :)

nickscio ,

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

[agentpr24] ,

Stay away from Koho

I could not start to explain the "why/what/when" without having to write down a university thesis but in short :

1. Most of the customer care and support department do not even try to figure out and help you with issues. They always try to find an exit door so at the end, you are running after your money.

2. If you have issues after you paid something, they will try to sneak out and tell you to visit the website or to wait few days and call back ... and if you do that, you restart the same process.

3. You are talk in a disrespectfull or unprofessionnal way, forget talking to an helpfull manager.

4. You get an unauthorized charge, they will tell you (politly) to get lost. They will NEVER help you. They will tell you to call this business even if you tell them, you don't know who it is.

I could go on like this but I think you all get the drift. Koho is an untrustworthy low-level online service with a fake customer care and support.

I will never say that a "normal" back is better but in a way, they are. They have more to loose, most of them have an ombudsman and/or a real complaint department. Koho on the other hand, they have a such high estime of themself that they do not have a transparent complaint process.

I accept that perfection does not exist and I am able to understand that few bad staff members does not make the company but with Koho, it is a culture, a culture of "we don't care nor we value you as a customer". Of course, they will never say otherwise and admit it but in practice, they show it it without any doubt. If they would put the same effort in the customer care as they do as im the ads, they would be the best.

Hope you people will not get into this "fake" bank! If you want a virtual bank, go with Tangerine. I don't say they are better but they are more professionnal than Koho and it is back by Bank of Scotia!

I give Koho one star and it is because I can't give 0 star!

BTW Koho support, don't even reply to me woth the copy/paste predefined reply of "we are sorry blablabla and we do care blablabla and call us to resolve it blablabla" because I tried hard to donthat but you are not serious and the way I see it now, I am not the only one to have experience it. It is just sad that I had not read the reviews before doing business with you people.

Developer Response ,

Hey there! Thank you for your honest review. We appreciate you taking the time to voice your concerns.
We’re sorry if you’ve felt we are avoiding helping you find a solution. This is not our intention. Our intention is to hear you out and troubleshoot where we can. When we need to coordinate with other departments, we always do so to work towards a solution to your inquiry.
Our dispute process is to wait for your transaction to settle in case the merchant lets your incorrect transaction expire and therefore return to your account. This process of handling authorization happens on all credit cards, but because KOHO is a prepaid card and there isn't a line of credit you can use while you wait for the authorization to expire, it becomes more noticeable. When the transaction settles, that is when we know the merchant has collected the funds and we help you file a dispute.
We’re sorry to hear you have been spoken to in this way. This is never our goal. We are trained and held accountable to speak professionally and respectfully to all our customers.
We truly are sorry for your poor experience and please know we are working hard to improve our customer support services every day.

App Privacy

The developer, Koho Financial, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer's privacy policy.

Data Used to Track You

The following data may be used to track you across apps and websites owned by other companies:

  • Identifiers

Data Linked to You

The following data may be collected and linked to your identity:

  • Purchases
  • Financial Info
  • Location
  • Contact Info
  • User Content
  • Identifiers
  • Usage Data
  • Diagnostics

Privacy practices may vary, for example, based on the features you use or your age. Learn More

Supports

  • Family Sharing

    Up to six family members will be able to use this app with Family Sharing enabled.

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