An app designed for everyday spending and tomorrow's savings

KOHO is your everyday Mastercard account that helps you make progress. Spend, build, save and earn your way to financial health.
Get Started
Get Essential for $0*
Get Essential for $0 when you set up Direct Deposit or load $1000 per month.
Earn 1% cash back on groceries, transportation, food, and drink
5% interest on your entire balance.
 KOHO Essential
Your money, managed your way
KOHO is a prepaid Mastercard that gives you all the spending power of a credit card without the interest. Your app and physical prepaid credit card work together to make day-to-day finances smart and stress-free.
Earn cash back and 5% interest on your account balance and save more. Pair this with KOHO's spending insights and budgeting tools that shows you how you are tracking each day, week, or month.
 KOHO App Homepage
Build your credit history
Want to build your credit history? Try Credit Building by KOHO. No deposits, no interest rates. On time repayments help to improve your credit history and a strong credit history can help to improve your credit score.
KOHO users see an average credit score increase of 22 points in their credit history after just 3 months of using Credit Building.***
 KOHO App Credit Building Page
Get a cash advance of up to $250
Sign up to Cover for as little as $2 a month and get a cash advance right away, then over time, you could unlock as much as $250!
When you sign up for Cover with your KOHO account, get a cash advance from $20 up to $250 based on your eligibility. You can easily access your cash advance funds right away in-app or withdraw it from an ATM at 0% interest.
 KOHO Cover
Instant cash back
Enjoy unlimited instant cash back on every purchase, and amplify your savings with up to an additional 5% cash back at select merchants.
 KOHO App Cashback Page
Earn high interest
With your KOHO account, you can earn 5% interest* on both your spending and savings account.
Your funds are securely held with a variety of financial institutions, and all interest-bearing deposits are eligible for CDIC protection.
No minimum balance is required. No delays and no need to make a bank appointment.
KOHO App High Interest Page
Budgeting and planning
Automate your savings goals and bill payments whether it’s small expenses, or your future savings. We’ve also made it easier to help you save as you spend by allowing you to choose to round up purchases to the nearest $1, $2, $5, or $10. You can also get balance updates after each purchase and spending insights to help you to stay on track.
 KOHO App Budgeting Tool
 KOHO Extra Card
Extra

Level up with 1.5% cash back on groceries, eating & drinking, and transportation. 0.25% for all other purchases.

Earn 5% interest on your entire balance.

Enjoy 0 foreign exchange fees when you travel and 1 free international ATM withdrawal per month.

Want to save on a loan or mortgage? Get a 30% discount on Credit Building.

Whatever your financial goal and lifestyle, KOHO has the perfect plan for you

Get Started

Questions

KOHO is a spending and savings account where you can get instant cashback and earn interest on your entire account. You get a prepaid reloadable credit card that gives you all the spending power of a credit card without any interest.
Unlike a credit card, however, the KOHO card draws from funds that are already your money. This key difference makes could help you spend more mindfully. It’s connected to a smart budgeting app that simplifies day-to-day finances with spending insights and you can sign up to receive balance updates after each purchase.
It’s pretty simple. You add funds to your KOHO account in one of three ways: setting up a direct deposit, e-Transfer from your regular bank account, or loading through an existing debit card.
You can then use your KOHO card, either in person or online, to make purchases just like you would with any debit or credit. Even more impressively, your new KOHO card supports Apple Pay, Google Pay, and Samsung Pay – it’s one of the only cards available that supports all three of those payment platforms. If your cellphone is NFC-capable you can tap away or just use your physical KOHO card to complete a transaction. Talk about convenience!
The big difference is that we’re digital-first. We prioritize financially empowering our users. For example, we do not charge any fee for ATM Withdrawals+. Consequently, we can keep our costs low and aim to pass these savings to our users.
Plus, you get unlimited cashback on all your purchases and 5% interest on your account balance. You can make even more when you shop at our brand partners.
The bottom line? You can earn money just for buying the things you were going to buy anyway, but without the stress and risk of going into credit card debt.
Also, our app is pretty awesome.
For most of us, KOHO is the perfect solution. And if you’re okay with having your paycheque deposited directly and you never need to write a paper cheque (and let’s be honest, very few people write paper cheques any more, not in a world of Interac payments and PayPal), you could technically use KOHO for all your chequing account needs and ditch the expensive Big 5 Bank chequing account for good. Why pay $15 or more per month for a paper-based chequing account when you can get KOHO Essential at no fees?
And with KOHO (unlike those other institutions) there are no NSF fees if you run into some difficulty with a transaction, lower foreign transaction fees than the Big Five banks charge (1.5% with KOHO versus 3.5% with the big banks), free and unlimited e-Transfers and even access to your money from any ATM. KOHO is everything you should need in a bank account, plus a whole lot of exciting additional tools.
CONNECT
The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
*Your funds will be eligible for CDIC insurance. Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.
+Additional fees for ATM withdrawals may be charged by the ATM operator, over which we have no control. For Extra and Essential Cardholders, we will cover any international ATM fee for the first ATM withdrawal on a thirty-day rolling basis. More information about KOHO Extra Card Benefits and Foreign Exchange Transaction Fee is included above in the Transaction Made in Foreign Currencies section of the KOHO CardHolder Agreement.
***Credit scores are based on complex models involving a variety of factors. Consistent on-time payments help improve credit scores. Missed or late payments may cause credit scores to decrease. Outcomes may vary among users.