KOHO offers a tiered pricing structure starting with a free "Essential" plan, ranging up to roughly $14.75 per month for premium plans. The cost depends on the features chosen, such as higher cash back, interest rates, or credit building services.
KOHO plans start at $0 each month and come with a free 30 day trial, so you can see if it's the right fit.
→ You'll get real-time insights on all your transactions and can use your KOHO account to send free e-Transfers, set-up direct deposit, pay bills, and set Savings Goals!
With KOHO, you get access to thousands of fee-free ATMs across Canada through our network partners. Using another bank's ATM usually comes with two potential fees: The ATM operator's surcharge ($2-$4) Your own bank's out-of-network fee ($1.50-$5)
Interest is per annum calculated daily but paid monthly. Terms and Conditions apply. When you opt in to Earn Interest, your funds are placed in trust with one or more CDIC member institutions.
If you want to invest $10,000 over 10 years, and you expect it will earn 5.00% in annual interest, your investment will have grown to become $16,288.95.
You can load the following amounts: The minimum amount you'll need to deposit in order to use this method is $10 per transaction. You can deposit up to $3,000 per transaction, with a total limit of $3,000 every 24 hours.
You can use your KOHO Card anywhere that Mastercard is accepted to make purchases or ATM withdrawals. When you use the Card, the amount of the purchase or withdrawal, plus any applicable fees and taxes, will be deducted from your KOHO Card balance.
e-Transfer sending limits
Here are the default daily, weekly, and monthly sending limits: Per day (24 hours): CAD $5,000. Per week (7 days): CAD $10,000. Per month (30 days): CAD $30,000.
You are able to withdraw cash from an ATM using your physical KOHO card. Look for ATMs on the "Cirrus" network as they'll support withdrawals using a Mastercard.
Wiring $1,000 domestically typically costs $20 to $30 in fees, while international wires are more, often $30 to $50 or more, plus potential exchange rate markups (like 3-5%) and intermediary bank fees, so check your bank's exact rates for sending/receiving. For smaller amounts like $1,000, digital apps (PayPal, Zelle) might be cheaper or free for domestic transfers, while services like Western Union offer low fees for specific amounts.
Many banks offer checking accounts with no monthly fees, especially online banks like Ally, SoFi, Axos, and Discover, often requiring direct deposit or minimum balances for traditional banks like Capital One 360, Chase Secure Banking, and PNC Simple Checking; credit unions like Alliant also provide fee-free options, focusing on digital convenience, ATM access, and sometimes interest or rewards.
Is KOHO Like a Debit Card? Functionally, yes—KOHO is much closer to debit than credit: You're spending only what you have. You can set it up as your everyday account for income and bills.
Avoid fees by using ATMs owned by or affiliated with your bank. If you must use an ATM not affiliated with your bank, take out larger withdrawals to avoid having to go back multiple times. Don't spend more money than you have. Keep track of transactions and account balances to avoid bounced checks and overdraft fees.
You should keep enough money in your checking account to cover one to two months of essential living expenses plus a buffer (around $100-$500), balancing easy access for bills and emergencies with not letting too much money sit idle, ideally moving excess funds to higher-interest savings or investment accounts. Calculate your total monthly spending (rent, groceries, utilities, etc.), then aim to keep that amount, or double, plus a small cushion, in checking for safety, say money.com.
The most common reasons your credit card is being declined are not enough available credit or funds, suspicious activity or fraud checks, wrong card details (like expiry, CVV, or billing address), a frozen or blocked card, or a simple technical issue with the terminal or network.
Inbound Interac e-Transfer: 10,000 CAD per transfer and per day, 40,000 CAD per month and up to 20 transactions per day and 120 per month. KOHO-to-KOHO: 3,000 CAD per transfer and per day for both inbound and outbound. 40,000 CAD every 30 days, up to 20 per day and 80 per month each way.
If you invest $100 a month in good growth stock mutual funds at prevailing market rates from age 25 to 65, you'll end up with about $1,176,000. The secret isn't the amount. It's that you didn't miss a single month for 40 years. $100 can make you a millionaire when you're steady, predictable, and disciplined.
The 3-6-9 rule in finance is a guideline for building an emergency fund, suggesting you save 3 months of essential expenses for stable jobs, 6 months for most people (especially those with families/mortgages), and 9 months for those with irregular income (freelancers, sole earners) or high financial risk. It's a flexible strategy to provide financial security, helping you avoid debt or panic withdrawals during unexpected job loss or emergencies, with the exact target depending on your income stability and dependents.