About KOHO
KOHO is a Canadian fintech company offering a prepaid Mastercard® and money app used by over 2.5 million Canadians to spend, save, build credit, and borrow. Members earn cash back on everyday purchases and interest on their entire account balance, with rates depending on the plan they choose — Essential, Extra, or Everything. KOHO also offers interest-free credit building tools with no credit check, an interest-free cash advance option, and instant Interac e-Transfers, with eligible funds protected by CDIC up to $100,000.
Key Features
- Prepaid Mastercard® with up to 2% cash back on everyday purchases like groceries, transportation, and food & drink
- Up to 3.5% interest on your entire account balance, with no minimum balance and no caps
- Credit Building tools with no credit check and no deposit — members average a +93 point score increase after 18+ months of on-time payments
- Three paid plans — Essential ($0/mo), Extra ($12/mo), and Everything ($14.75/mo) — each with a 30-day free trial
- New core plan, $0 monthly fee (https://www.koho.ca/core)
- Instant Interac e-Transfers, physical (plastic or metal) and virtual cards, and CDIC-eligible protection up to $100,000 on funds placed in trust