KOHO Canada – Complete Guide
Everything you need to know about KOHO: prepaid spending card, credit building, cashback rewards, and budgeting tools.
Visit KOHOCard Type
Prepaid Visa
Cashback
Up to 5%
Credit Building
$10/month add-on
Users
Many Canadians
About KOHO
KOHO is a Canadian fintech company that offers a smart prepaid Visa card with cashback rewards, budgeting tools, and an optional credit-building program. Founded in 2014, KOHO has grown to serve many Canadians looking for a modern alternative to traditional banking.
Unlike credit cards, KOHO is a prepaid spending card — you load money onto it and spend from your balance. Their Credit Building add-on ($10/month) reports to Equifax, letting you build credit history without taking on debt.
KOHO Guides
KOHO Review
In-depth review covering features, pros & cons, and how KOHO compares.
Read ReviewKOHO Credit Building Program
Detailed look at KOHO's main product offering, rates, and how to apply.
View DetailsKOHO vs Competitors
Side-by-side comparison on features, speed, and value.
See ComparisonKOHO Alternatives
Compare KOHO to other options to find the best fit.
Compare AlternativesWhy Choose KOHO
No Credit Check
KOHO is a prepaid card — no credit check required to sign up.
Cashback Rewards
Earn cashback on every purchase, with up to 5% at select partners.
Credit Building
Build your credit history with the $10/month Credit Building add-on (reports to Equifax).
Frequently Asked Questions
Is KOHO a real bank?
KOHO is a fintech company, not a bank. However, your deposits are held at People's Trust, a Schedule I bank, so they are CDIC protected up to $100,000.
Does KOHO really build credit?
Yes, with the Credit Building add-on ($10/month). KOHO opens a small credit line in your name and makes payments on your behalf, reporting to Equifax monthly.
Is KOHO free?
The basic KOHO plan is free. Credit Building costs $10/month as an add-on. Premium plans (Essential $4/month, Extra $12/month) offer additional features.
Common Questions Canadians Ask About KOHO
Is KOHO worth it in Canada?
For Canadians who want a no-fee spending card with cashback and budgeting tools, KOHO is a strong option. The Credit Building add-on ($10/month) is also one of the most affordable ways to build credit without debt.
Can I get KOHO with bad credit?
Yes. KOHO is a prepaid card, so no credit check is required. Anyone in Canada who is of age can sign up regardless of credit history.
Does KOHO really build credit?
Yes, but only with the $10/month Credit Building add-on. KOHO opens a small line of credit in your name and reports payments to Equifax. Without the add-on, KOHO is a prepaid card and does not affect your credit.
Is KOHO a real bank?
KOHO is a fintech company, not a bank. However, your funds are held at a CDIC-member institution, so your deposits are protected up to $100,000.
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Editorial Note: Our content is reviewed by financial experts for accuracy. We may receive compensation from partner lenders, which does not influence our rankings or recommendations. Read our full disclosures
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