An app designed for everyday spending and tomorrow's savings

  • KOHO is a full-service app and reloadable prepaid credit card with no hidden fees.
  • Get $20 when you sign up for a free KOHO account with code HARDBACON and make your first purchase*.
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Your money, managed your way
KOHO is a free chequing account that acts like a debit card but gives you all the spending power of a credit card without the interest or fees.
Your app and physical prepaid credit card work together to make day-to-day finances smart and stress-free. With cash back and no fees, KOHO users can save more and pay down debt quicker. Get balance updates after each purchase. With KOHO, you can see how you are tracking each day, week, or month with our spending insights.
Instant cash back
KOHO is the only account with truly no monthly fees, no interest charges, no e-Transfer fees, and no NSF fees.
Get unlimited instant cash back. Plus, you can earn up to extra 6% cash back at select merchants.
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. But remember, a missed payment will have a negative impact on your score, so it's important to make on-time payments.
KOHO users see an average credit score increase of 22 points in their credit history after just 3 months of using Credit Building.***
Earn high interest
Boost your savings!
With your KOHO account, you can earn up to 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.
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.
Get all the beloved KOHO account features and receive more bang for your buck with Extra! Start getting 1.5% cash back on groceries, eating & drinking, and transportation. 0.25% for all other purchases. Plus, you can earn up to 5% interest on your entire balance.
Travel at ease with Extra. Enjoy 0 foreign exchange fees whenever you travel. Plus, 1 free international ATM withdrawal per month+.

Want to save on a loan or mortgage? You can get a 30% discount on Credit Building.

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

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KOHO is a free 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 fees or 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. 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. And, of course: No fees!
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 KOHO is free of all 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.
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.
*Only the users who successfully register a new KOHO account and make their first purchase using their KOHO card within 30 days of registration are eligible for the offer and may claim the one-time $20 bonus in their KOHO account. This offer is non-transferable and may only be used once per person. Offer is not applicable in conjunction with other KOHO offers or promotions. KOHO may, at its sole discretion, suspend, terminate or change the terms and requirements of the offer.
**Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.