Partner overview
overview
KOHO is an app that helps Canadians spend smarter, save faster and build their credit history, with a prepaid Mastercard and helpful financial tools.
How KOHO works
Unlike a credit card, the KOHO card uses your own money. You add money to your KOHO account through the app and spend what you’ve added, so there’s no risk of overdraft and no minimum balance.
KOHO calls its customers members. Every plan comes with the KOHO prepaid Mastercard, Spending Insights and a free credit score.
KOHO plans and monthly fees
Each KOHO plan is built for different financial needs. Core, Extra and Everything all include a 30-day free trial.
| Plan | Monthly fee | Cash back on groceries, transportation, food & drinks | Cash back on everything else | Earn Interest | Credit Building discount | Free credit report |
|---|---|---|---|---|---|---|
| Core | $0/mo | Up to 1% | — | Up to 2% | — | — |
| Extra | $18/mo | Up to 1.5% | Up to 0.25% | Up to 2.5% | 30% | — |
| Everything | $22/mo | Up to 2% | Up to 0.5% | Up to 3.5% | 50% | Included |
Core has no monthly fee and doesn’t require a direct deposit or $1,000 in monthly deposits. No minimum balance.
Plans, prices and benefits are current as of October 26, 2026 and subject to change. The Credit Building discount applies to Credit Building only. Cash back is not earned on ATM withdrawals, e-Transfers, KOHO transfers, bill payments, pre-authorized debits, direct deposits, crypto, remittances or gambling.
Cash Back
KOHO members earn up to 2% cash back on groceries, eating and drinking, and transportation, and up to 6.5% extra cash back at select merchants in KOHO’s partner network. Cash back lands in your KOHO account, so there are no points to manage.
Actual Cash Back may vary depending on your KOHO Account plan or merchant. Cash back rate and merchants subject to change. Terms and Conditions apply.
Earn Interest
KOHO members can earn up to 3.5% interest on every dollar in their account. Opt in to Earn Interest in the app; there’s no minimum balance. Interest is calculated daily and paid monthly, and up to $100,000 in your KOHO account is eligible for CDIC protection when Earn Interest is on.
Actual interest may vary depending on your KOHO Account plan. Interest Rate is subject to change without prior notice. Interest is per annum calculated daily but paid monthly. Terms and Conditions apply.
Credit Building
Credit Building is designed to help members build their credit history through small, regular payments. KOHO reports your payments to the credit bureaus, and payments can be automated so they’re reported on time. It costs $5 to $10 a month depending on your KOHO plan, and subscribing doesn’t involve a hard credit check.
Credit Building doesn’t guarantee an improvement in your credit score. Credit scores depend on many factors, and missed or late payments can lower them.
Cover
Cash advance of up to $500*
Cover gives members a short-term, interest-free cash advance to help pay for unexpected expenses. It’s only available through the Cover bundle, which starts at $2 a month and also includes a free credit score and report and financial coaching with a KOHO coach.
*Eligibility criteria and Terms and Conditions apply.
Who KOHO may suit
- People who want cash back on everyday spending without using credit
- Newcomers to Canada and people with low or no credit history who want to build their credit history
- People who want to earn interest on the money they spend from, all in one app
- People who need short-term help with an unexpected expense and want a lower-cost option than a payday loan
What to know before you sign up
- KOHO is a prepaid card, not a credit card: you spend money you’ve added. On its own, it doesn’t build credit history; that’s what Credit Building is for.
- Core has no monthly fee and doesn’t require a direct deposit or $1,000 in monthly deposits.
- Extra and Everything cost $18 and $22 a month, so check that the extra cash back and interest are worth more to you than the fee.
- Cash back isn’t earned on ATM withdrawals, e-Transfers, KOHO transfers, bill payments, pre-authorized debits, direct deposits, crypto, remittances or gambling.
- Rates, fees and features can change. Confirm current details in the KOHO app before you choose a plan.
How to get the $40 sign-up bonus
- Select Sign up for KOHO on this page.
- Download the KOHO app and create your account.
- Enter promo code WR4026 when you sign up.
Questions people ask
Is KOHO a credit card?
No. The KOHO card is a prepaid Mastercard that uses your own money. You add money in the app and spend what you’ve added, so there’s no overdraft and no interest charges.
How much does KOHO cost?
Core has no monthly fee and doesn’t require a direct deposit or $1,000 in monthly deposits. Extra is $18 a month and Everything is $22 a month. Every plan includes a 30-day free trial.
Is there a KOHO promo code?
Yes. Use promo code WR4026 when you sign up for KOHO to get a $40 sign-up bonus. Terms and conditions apply.
Is money in KOHO protected?
Up to $100,000 in your KOHO account is eligible for CDIC protection when you opt in to Earn Interest.