What is Koho?

We’ve received several questions about what exactly Koho is; Are you a bank? A new credit card? What do you mean no fees? (What’s the catch?).

No asterisks or small print here. We’re a financial account that helps Canadians save and spend smarter. In fact, within 3 weeks, the average Koho user reduces their spend by 15% and saves nearly $500. As Canadians pay some of the highest banking fees in the world (with the average Canadian paying $185 per year), we built Koho so you’ll never have to worry about paying fees to access your own money.

Check out our video on what Koho’s all about, starring our very own User Success Manager, Jaclyn, and our Product Manager, Lauren:

Here’s what you get with Koho:

1. A Koho Account

Koho is free to join and takes less than 5 minutes to sign up after downloading it from the App Store or Google Play. All you need is a Canadian bank account to send your first $20 e-Transfer to load your account. That way, you’ll be able to use your Koho Visa Card as soon as it arrives in the mail.

2. The Koho Visa Card

The Koho Visa Card is a pre-paid Visa card which you can use wherever Visa is accepted (globally!). You only spend what you have loaded on your account, so you won’t ever have to worry about any fees. Use it for your daily coffee, online purchases, and so much more.

3. The Mobile App

Koho is available both on iOS and Android (for free), and as soon as you sign up, you’ll be able to explore our mobile app. Your Koho Visa Card works in sync with the mobile app, so you’ll get real-time insights on all your transactions. You can even use the app to send free e-Transfers, pay for bills, or save up for goals. Check out what some of our users have saved up for using Koho Goals.

For all other inquiries about Koho, feel free to reach out to our friendly neighbourhood User Support team via our in-app chat or e-mail us at support@koho.ca.

Check us out on the App Store or Google Play Store and join thousands of other Canadians who are taking control of their finances with Koho!

About the Author

Lynn Shinto


Community Manager