Apply online for a FREE KOHO prepaid Visa card

"It just takes a minute to complete and submit
your KOHO prepaid Visa card application."

No-Fee Prepaid Visa with Instant Cash Back
KOHO offers a spending account with a reloadable prepaid Visa card. Once you add funds to your account, you're ready to spend anywhere Visa is accepted and earn cash back on every purchase.
Full-service account. No hidden fees.

Get your exclusive KOHO prepaid Visa card to enjoy the benefits and rewards today!

warningThe issuer may STOP the card offers and promotions without notice. Grab the card of your choice while it last.

Simple. Smart. Secure.

Your money, earlier

  • Get access to $100 of your government payments early
  • Set up your CRA payments to KOHO to be eligible (CERB)
  • No fees or interest, just a little buffer for your bills
  • Download the latest version of the app to see it in-app

Your money is safe with us

  • Lock your card anytime in app
  • Friendly support at your fingertips
  • A separate Virtual Card for your online shopping
  • A federally regulated financial institution holds your funds

Budget and track

  • Preload your spending money to make budgeting easy
  • Get balance updates after each purchase
  • Use spending insights to stay on track
  • Get access to free financial coaching

Truly no hidden fees

  • $0.00 Monthly account fees
  • $0.00 NSF fees
  • $0.00 e-Transfer fees
  • $0.00 Interest charges

Do you offer a credit card?
KOHO offers a spending account with a reloadable prepaid Visa card. You need to put money into your account, making it more similar to a debit account than a traditional credit card. Yet unlike a debit card, you earn cash back on all your purchases and can use your card wherever Visa is accepted (such as online, or worldwide in-store).

You can get your paycheque deposited directly into your KOHO account, or periodically put money into your account. Since you can’t spend more than what’s in your account, KOHO helps you spend smarter, save more, and avoid credit card interest!

Are my funds CDIC secured?
We’ve partnered with Peoples Trust Company, a federally regulated financial institution to hold any money you load onto your KOHO card. This means that if anything were to happen to us, your money would be safe and you’d be able to access it through Peoples Trust Company. To be clear, however, the money you load onto your KOHO card is not eligible for CDIC insurance.

Your KOHO card is also covered under Visa’s Zero Liability policy. This means that you're fully protected from unauthorized use of your card or account information.

What's the benefit over a credit card?
Did you know that Canadians pay an average of $750 in credit card interest per year? With a reloadable card like KOHO, you can’t spend more money than you have in your account. This means you’ll never, ever owe us interest.

The KOHO app helps you manage your money by giving you real-time insights into your spending. There are also savings features that help you to stash away savings without realizing it.

Can I manage all my core finances with you guys?
You can use KOHO to pay bills, send free e-Transfers, pay your credit card bill, shop online, get money from an ATM, fund your investment account, and more. There are very few features we don’t have, so why bother paying pesky fees at another institution?


Earn 1.2% interest on every penny. Just make sure you're on direct deposit to access KOHO Save.

All the perks of using KOHO, like free e-Transfers, instant 0.5% cash back on all purchases, and a sweet referral bonus of an extra 1% cash back every time you refer a friend.

No extra fees, no minimum balance, no promotional rates. What you see is what you get.

Your money is held in a federally regulated financial institution and accessible to you 24/7.

Can you tell me more about the interest rate?
So you’re ready to turn your entire KOHO account into a high interest savings account?
Once you opt into KOHO Save, you’ll start earning 1.2% interest on your entire KOHO balance – your Spendable, RoundUps & Savings Goals. Interest rate is per year, calculated daily and paid out monthly to your Spendable balance.

Could the interest rate change?
We want to be clear that the 1.2% interest rate we are offering will not be an introductory rate, or a rate that expires. The same rate will be available to all users, new or existing. For transparency, it’s possible that the interest rate could change if the rates made available by our Service Providers change. This could happen, for example, if the Bank of Canada announces an interest rate decrease or increase.

So, where is my money being held?
Once you opt into KOHO Save, all cash balances from your KOHO Save account(s) will be held in trust at a Canada Deposit Insurance Corporation (CDIC) member institution. CDIC is a federal Crown corporation. CDIC is not a bank or a private insurance company. CDIC protects eligible deposits held at CDIC member institutions in case of a member’s failure.

For eligible deposits held in trust at a CDIC member institution, CDIC insures up to $100,000 for each beneficiary named in a trust, provided certain disclosure rules are met. Coverage is free and automatic.

How does KOHO Save work with my existing KOHO account?
Once you sign up for KOHO and opt into KOHO Save, all the money in your KOHO account will earn 1.2% interest and you can spend from it to make your purchases. Your other account features (e.g. cashback and account fees for Premium) won’t change.

Are there additional fees to me as a user?
Nope. There are no account opening, account closing, moving money, or e-Transfer fees. There’s no minimum balance either.


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