KOHO review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Our verdict
KOHO suits savers who want easy access, no monthly fee and no minimum deposit, and it charges a variable rate of 2% that sits below the 3.08% typical of savings accounts. It ranks 1 of 370 brands on minimum deposit, which says more about entry barriers than about the rate.
Key facts
- Best for
- Saving on your own terms with no fee and no minimum to clear.
- Headline rate
- 2%↗
- Rate type
- Variable↗
- Minimum deposit
- CA$0↗
- Access terms
- On-demand access any time; free, unlimited Interac e-Transfers; no transaction or inactivity fees↗
- Monthly fee
- CA$0↗
- Account kind
- Easy access↗
- Legal entity
- KOHO Financial Inc.↗
- Headquarters
- Canada↗
- Support channels
- Chat, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- koho.ca
Everyday accounts
- Currency conversion fee
- 1.5%↗
- Transfer fee
- Live exchange rate, no markup or hidden fees↗
- Audience
- Expats, Travelers
- Features
- Joint account, No credit check
Facts checked September 26, 2026, 4 sources
Apps and profiles
- Elsewhere
- TrustpilotLinkedInXfacebook.com
Pros and cons
Pros
- No monthly fee of CAD 0 and no minimum deposit of CAD 0
- Variable rate of 2% with on-demand access any time
- Free, unlimited Interac e-Transfers and no transaction or inactivity fees
- Currency conversion fee of 1.5% sits above the 0.5% for savings accounts but well under the 7%
Cons
- Rate of 2% ranks 316 of 473 brands on headline rate
- Support runs on chat and help centre only, with no phone line listed
- Currency conversion fee of 1.5% is above the 0.5% across all brands
Who it suits
- Expats and travelers who need easy access to money while abroad
- Savers keeping a variable rate balance rather than tying funds away
- Anyone who wants no monthly fee and no minimum deposit
Who should look elsewhere
- Plazo ES, where the headline rate of 24.19% is far higher for savers happy to commit
- AXI Card Tarjeta y Credito, whose 21.59% suits people prioritising rate over easy access
- PayPal Colombia, if you want your savings inside a payments wallet rather than an easy-access savings account
Fees and FX
The savings account carries a monthly fee of CAD 0 and a minimum deposit of CAD 0, so there is no amount to clear before you start earning. Interac e-Transfers are free and unlimited, and KOHO lists no transaction or inactivity fees on the savings account. Currency conversion costs 1.5%, higher than the 0.5% seen across brands but below the 7%. International money transfer runs on the live exchange rate, with no markup or hidden fees stated.
The company behind it
KOHO is operated by KOHO Financial Inc., based in Canada. The account is easy-access, which suits people who want to move money in and out without a notice period or a fixed term. Support runs on chat and help centre, so reaching a person depends on in-app chat rather than a phone line. A joint account and no credit check are both listed features, and the audience is expats and travelers.
How KOHO compares
9.0 vs 8.6
9.0 vs 9.5
9.0 vs 8.0
9.0 vs 8.9
9.0 vs 8.9
9.0 vs 9.1
9.0 vs 9.1
9.0 vs 8.9
9.0 vs 8.7- 9.0 vs 8.0
9.0 vs 9.0
9.0 vs 8.1
9.0 vs 8.7
9.0 vs 8.0
9.0 vs 9.5
9.0 vs 9.4
9.0 vs 9.3
9.0 vs 9.2
9.0 vs 9.0
9.0 vs 8.7
9.0 vs 8.5
9.0 vs 8.5
9.0 vs 8.5
9.0 vs 8.4
9.0 vs 8.3
9.0 vs 9.0
Where KOHO is available
- Available
- Canada
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does KOHO pay on its savings account?+
KOHO pays a variable rate of 2% on an easy-access balance, so the rate can move rather than being locked in for a term. That sits below the 3.08% for savings accounts on the site. Anyone chasing the top return would find 24.19% more compelling.
Is there a fee to keep the KOHO savings account?+
The monthly fee is CAD 0 and the minimum deposit is CAD 0, so nothing needs to be paid or deposited to hold the account open. That monthly fee also matches the €0 seen across brands. Interac e-Transfers are free and unlimited.
How do I get my money out of KOHO?+
Access is on demand at any time, with no notice period, and Interac e-Transfers are free and unlimited. KOHO also lists no transaction or inactivity fees on the account, so taking money out does not quietly cost you. It is an easy-access account rather than a notice or fixed one.
What does it cost to hold Canadian dollars and other currencies?+
Currency conversion costs 1.5%, which is above the 0.5% median across brands on the site but well under the 7% top figure. International money transfer uses the live exchange rate with no markup or hidden fees. The account is aimed at expats and travelers who need to convert.
Who runs KOHO and where is it based?+
The account is run by KOHO Financial Inc., which is based in Canada. It offers a joint account and lists no credit check among its features. Support is provided through chat and help centre, so an in-app chat is the main route to a person.
Does KOHO suit savers who need quick access to cash?+
Yes, the account kind is easy-access and withdrawals are on demand at any time. There is no term to wait out and no transaction or inactivity fees to eat into what you take out. Savers who would rather lock money away for a higher return are the ones who should look elsewhere.
Is KOHO only for customers with Canadian dollars?+
KOHO is positioned for expats and travelers, and the account is based in Canada with a monthly fee of CAD 0 in Canadian currency. Converting between currencies costs 1.5%. Anyone whose money never leaves their home currency may not need an account built for travel.
What is the minimum I need to open a KOHO savings account?+
The minimum deposit is CAD 0, which puts KOHO first of 370 brands on minimum deposit. There is no amount to clear before the balance starts earning 2%. The comparison median for minimum deposits is €0.17.
Sources
- koho.ca/accounts checked September 26, 2026
Backs: Headline rate, Headquarters, Legal entity, Pricing model, Monthly fee
“You can get the monthly Essential plan for free by depositing money into your KOHO account... 2% interest on your entire balance”
- koho.ca/save checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Rate type, Support channels
“Access your money whenever you need it; Interac e-Transfer Free, Unlimited; Transaction fees $0; Account Inactivity fee $0”
- koho.ca/accounts checked September 26, 2026
Backs: Audience, Features
“An instant account for newcomers: Just arrived in Canada? ... More than a travel card: KOHO is your everyday Mastercard with all the travel perks”
- koho.ca/international-money-transfer checked September 26, 2026
Backs: Transfer fee
“We use the live exchange rate for every International Money Transfer ... And we never add any hidden fees”
- koho.ca/travel checked September 26, 2026
Backs: Currency conversion fee
“No 1.5% FX fee if you are on Extra or Everything plan, currency conversion rate applies.”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Deposit protection.