The ultimate way to get instant cash back

Earn 0.5% cash back on all purchases and up to 10% cash back when you shop online or in-store with our partners.

Get StartedOpen Account

The best account for better finances

KOHO is a free spending and savings account designed for all Canadians. Equipped with our prepaid Mastercard® and mobile app, you’ll be able to budget, spend, and save like a pro.
Peoples Trust Company | Visa Trademark
Better Finances with KOHO

Cash back for everything, everywhere

Get 0.5% cash back on every purchase that you can instantly cash out in-app wherever, whenever!
Apple Pay Logo | Google Pay Logo | Samsung Pay Logo
Earn Instant Cash Back

Stay connected and protected

Lock your card in-app, securely shop online, and rest assured your money is protected with top-tier security. It’s no wonder why KOHO is trusted by over half a million Canadians.
KOHO Virtual Card

It’s not just another card

We’ve thought of just about everything you’d need to improve your financial health.

Credit Building

Build your credit history for only $10/m.

Grow Your Credit Score
Get started

Earn Interest

Earn interest on both your spending and savings account.

Earn 1.2% Interest
Earn interest


Get 2% cash back on your daily essentials.

Premium spending account
Learn more

The proof is in the praise

KOHO has been featured in:

Social Proof - Press Logos
Social Proof - Press Logos
App Store Rating

4.8 star rating

Not bad for a financial app

Google Play Store Logo

An incredibly easy way to see what you're spending and to set goals and reach them. Also, you can't beat free!

App Store Logo

Great features and built for the 21st century, empowering people to make better choices!


KOHO is a free spending and savings account where you can get instant cash back and earn interest on your entire account. You get a prepaid reloadable Mastercard 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 you spend more mindfully and effectively save more. It’s connected to a smart budgeting app that simplifies day-to-day finances with spending insights and balance updates after each purchase. As a result, the average KOHO user saves 7% of whatever money they load into their account.

It’s pretty simple. You add funds to your KOHO account in one of three ways: e-Transfer from your regular bank account, loading through an existing Visa debit, or by having your work’s payroll directly deposit your paycheque (we call this direct deposit).

Then, you use your KOHO card, either in person or online, to make purchases just like you would with any debit or credit.

Plus, KOHO runs on the Mastercard network, so merchants can treat your KOHO card just like a normal credit card transaction.

We’ve partnered with Peoples Trust, a federally regulated bank to hold any money you load onto your KOHO card. This means that if anything were to happen to us (and that’s a big if!), your money would be safe and you’d be able to access it through Peoples Trust. If you place your money in interest-bearing accounts, not only will you get a high interest rate, but your funds will also be eligible for CDIC insurance.

The big difference is that we’re digital-first. We prioritize financially empowering our users over things like branded ATMs (though KOHO works at any ol’ ATM, and we won’t charge you for using one). Consequently, we can keep our costs low and aim to pass these savings to our users.

Plus, you get at least 0.5% cash back on all your purchases, and 2% on 3 major categories with a KOHO Premium account. You can make even more when you shop at our brand partners.

Also, our app is pretty awesome.

We’ve put in the research time to make it dead simple to use, and there are lots of built-in ways to make the most of your money.

We tweak and improve our app in order to release updates every three weeks. Which, to be frank, is not a thing banks can say. Banks usually release a new version of their apps once a year.

Honestly? Probably, yes – but you can use KOHO for most of your day-to-day needs and have your regular bank as back-up.

If you’re down to have your paycheque deposited directly and never need to write paper cheques, you can use KOHO for all your personal finance needs.

It’s super simple to pay your bills from your KOHO account. You can also send unlimited free e-Transfers, and, of course, use the card anywhere Mastercard is accepted. Also, you can instantly deposit e-Transfers from other KOHO users.

However, if you need to write cheques or receive e-Transfers from non-KOHO accounts, you’ll still need a regular bank account for those functions.

Most people start out by using KOHO for the fun kind of spending – loading their account with what’s left over after accounting for standard expenses and savings. The guilt-free spendable, if you will.

Some financial experts recommend around 30% of each paycheque should go toward guilt-free spending, but your specific budget might vary.

It’s just as easy as reaching for a credit card, but it won’t cost you 20% to finance your life and since it’s already your money, you know you’re staying within your means.

  1. $1.00 Inactivity fee: This monthly fee is applied to accounts that have been open for 13 months and inactive for 6 months. “Inactive accounts” are defined as accounts that have not made any transactions or loaded money onto the account. So, just make sure to load your account or make a purchase every 6 months to avoid the charge.

  2. Foreign Transaction Fees (FX fees): With a regular KOHO account, you will be charged 1.5% on non-Canadian transactions made with your KOHO card. Want to skip the fee? Sign up for a Premium account to have all FX fees waived.

  3. 75¢ Visa Direct Load Fee per transaction (for transactions of or under $300).

Deep-dive into the details of our Card Holder Agreement

*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice

Ready to get started?

Signing up is free and fast. We’re talking 5 minutes, zero credit checks.

Open Account




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.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.