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KOHO review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

KOHO suits people in CA who want an everyday account that pays cashback and works abroad, and who read the fee list before anything else. The prepaid mastercard card returns 5% cashback on debit purchases, the annual fee is CAD 0, and it scores 7 overall on the site.

Key facts

Best for
A single market everyday account with cashback of 5% and no currency conversion charge.
Monthly fee
CA$0 (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Card type
Prepaid (Source, checked September 26, 2026)
Card network
Mastercard (Source, checked September 26, 2026)
Legal entity
KOHO Financial Inc. (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2014 (Source, checked September 26, 2026)
Support channels
Chat, Help-centre (Source, checked September 26, 2026)
Features
Travel, Virtual card, Crypto
Official website
koho.ca

Credit cards

Annual fee
CA$0 (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Rewards type
Cashback (Source, checked September 26, 2026)
Rewards rate
up to 5% cashback on debit purchases; 3.5% high-interest savings (Source, checked September 26, 2026)
Perks
No e-transfer fees, No ATM withdrawal fees, No hidden fees, Virtual card instant issuance, Credit building tools (Source, checked September 26, 2026)
Cashback rate
5% (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
KOHO Financial Inc. (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2014 (Source, checked September 26, 2026)
Support channels
Chat, Help-centre (Source, checked September 26, 2026)
Pricing model
No annual fee
Features
Travel, Virtual card, Crypto

Apps and profiles

Elsewhere
LinkedInXTrustpilotinstagram.com

Pros and cons

Pros

  • Cashback of 5% on debit purchases, with cashback as the reward type.
  • Perks listed in their app cover No e transfer fees, No ATM withdrawal fees and No hidden fees, including instant virtual card issuance and credit building tools.
  • A mastercard card with travel, virtual card and crypto among its features, so travel spend and virtual card numbers are part of the account.

Cons

  • Support runs on chat and help centre only, so chat and a help centre do the work a phone line would do.
  • The card is prepaid and works as credit, so it is not a direct swap for a current account card.
  • The account is priced for CA alone, so a reader outside that market has no local fee quote here.
KOHO

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Scored 9.0 / 10 by DebitCue.

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Who it suits

  • People in CA who want an everyday account and spend abroad in several currencies.
  • Readers who want cash paid back on debit spending, since the reward type is cashback at 5%.
  • Anyone building a credit history, with credit building tools listed among No e transfer fees, No ATM withdrawal fees and No hidden fees.

Who should look elsewhere

  • Skrill, if you want an e-money wallet instead of a card account, though its monthly fee is €5 against CAD 0 here.
  • The JMMB Moneyline and JMMB Money Transfer prepaid card, if a prepaid card billed in another market at JMD 0 a month suits you better.
  • The CrediMax Cardy EX prepaid Visa, if you would rather hold a prepaid Visa card at BHD 0 than a Mastercard.

Fees and FX

The prepaid account is charged a monthly fee of CAD 0 and a currency conversion fee of 0%. The monthly charge covers holding the account open, while the conversion fee covers card spending in a currency other than the account's own. Both are free, so the cost of keeping the account and of spending abroad comes down to what you load onto it.

How it compares on our data

On monthly fee it sits at position 1 of 419 accounts priced on this measure, and on currency conversion fee it holds position 1 of 259 accounts. Both rankings put the same card at the front, so a reader sorting by either cost lands on it whichever measure they use.

How KOHO compares

Where KOHO is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does KOHO cost to keep each month?+

The prepaid account charges a monthly fee of CAD 0 and an annual fee of CAD 0, so holding it open is free. The listed model is no annual fee, and the app sets out No e transfer fees, No ATM withdrawal fees and No hidden fees as the headline benefits. Adding money in costs nothing on e-transfers.

Is there a currency conversion fee?+

The currency conversion fee is 0%, so nothing is added to card spending in another currency. The card runs on mastercard, so it is accepted wherever that network is used. For a reader paying abroad, that is the clearest cost saving here.

What rewards does KOHO pay?+

Rewards are paid as 5% cashback on debit purchases, and the reward type is cashback. The app listing also describes a separate rate on the high interest savings balance, so the card rate and the savings rate are not the same thing. Spend on the card for the cashback.

What kind of card is KOHO, and who can use it?+

It is a prepaid card that works as credit, issued on mastercard. The account is run by KOHO Financial Inc. and priced for CA, so it is set up for a single market rather than for use abroad. The features listed cover travel, virtual card and crypto.

How do I get help from KOHO?+

Support runs on chat and help centre, which is chat and a help centre. Both are written channels, so keep your account details and any screenshots of a payment or a card block ready when you write in. The same places handle savings and credit tool questions.

Can KOHO help me build a credit history?+

The app lists credit building tools among No e transfer fees, No ATM withdrawal fees and No hidden fees, alongside instant virtual card issuance. The account is prepaid and works as credit, so the tools sit in the same app that issues the card and the virtual numbers that go with it, rather than in a separate product.

How does KOHO compare with the other options?+

Skrill is priced at a monthly fee of €5, the JMMB Moneyline and JMMB Money Transfer prepaid card at JMD 0, and the CrediMax Cardy EX prepaid Visa at BHD 0. KOHO's own monthly fee is CAD 0.

Sources

  • ca.linkedin.com/company/koho checked September 26, 2026

    Backs: Founded

    “founded in 2014 as a forward-thinking fintech company”

  • koho.ca checked September 26, 2026

    Backs: Annual fee, Card kind, Headquarters, Pricing model, Support channels

    “KOHO Essential plan offered at $0/month”

  • play.google.com/store/apps/details checked September 26, 2026

    Backs: Cashback rate, Perks, Rewards rate, Rewards type

    “Earn up to 5% unlimited cash back on debit purchases”

  • koho.ca/accounts checked September 26, 2026

    Backs: Card type, Features, Currency conversion fee, Monthly fee, Card network

    “Your everyday prepaid Mastercard - Essential plan”

  • koho.ca/legal checked September 26, 2026

    Backs: Legal entity

    “The KOHO Mastercard Prepaid card is issued by KOHO Financial Inc.”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Free ATM withdrawals, Protection.

KOHO

KOHO

A single market everyday account with cashback of 5% and no currency conversion charge.

9.0/10See alternatives