KOHO is a free, no-fee savings and spending account that is changing the way Canadians make money.
Like all good things, KOHO has three things. First, it starts with this very app designed to help you budget your finances like a pro. It is connected to your account where you can earn 1.2% interest* on your entire balance. Finally, we have our reloadable prepaid credit card. It works just like debit, except that you get at least 0.5% cash back on every purchase.
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 dining, shopping, and commuting.
Banks love to charge fees (the average Canadian spends $159 a year on bank fees!). We say, with this BS – banking stuff, that’s enough. At KOHO, proudly not a bank, we will never charge you for overdrafts, Electronic Funds, ATM withdrawals or insufficient funds.
Build your credit history, unlock opportunities
Mark your credit history with Build Credit. Get a line of credit, pay it off on time, build your credit history. Open up future financial opportunities. Credit score provided by TransUnion.
Earn 1.2% interest on everything
Yes, we mean everything! From Spendable to your savings, you can earn 1.2% interest* (twice the national average) on your entire account by setting up Direct Deposit.
Spend smarter, save faster
Real-time balance notifications and spending insights elevate 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 Pay feature, you can access $100 of your next Direct Deposit payslip, 3 days early, for free. Or, access $100 of your next payment anytime for $5. No care, no error – just a little help when you might need it most.
Start spending in minutes
Signing up is easy and fast – we’re talking in 5 minutes, no credit check needed. In addition, you will receive a virtual prepaid credit card immediately upon registration. That means you can start shopping online and earn 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 finance platform, it can cover all your money needs. Pay bills, send Interac Electronic Transfers and even set up Direct Deposit with your company so your paychecks (or part of them) are automatically loaded into your account.
Keep your money safe
KOHO is trusted by more than 500,000 Canadians and backed by the country’s top investors. Your money is kept safe by our partner Pe People’s Trust, a federally regulated financial institution. You can also lock your card in the app at any time and are also protected from unauthorized use under the No Liability policy.
Sit in the driver’s seat
We are building KOHO for our users, so our constant growth is based on the feedback we get from you! Contact us in the app if you have ideas for improvements. Love KOHO the way it is? Promote and refer a friend – we will reward you and your friend $20 every time you refer.
Featured on NASDAQ, Bloomberg, The Globe and Mail, CBC, Toronto Life, Yahoo Finance and Financial Post.
KOHO is a Fintech company, not a bank. KOHO cooperates with many banks to provide our products.
* Interest is calculated on an annual basis, calculated daily, paid monthly and is subject to change at any time without prior notice.