what is koho

KOHO is a Canadian fintech company based in Toronto that provides banking services via a prepaid Mastercard and a mobile app. It offers a no-fee spending and savings account, which allows users to budget, spend, and save. Users can earn cash back on purchases, such as groceries and transportation, and also earn interest on their entire account balance. KOHO is designed to simplify personal finances and help users manage their spending and savings habits effectively. It is free to join and takes less than 5 minutes to sign up for after downloading the app from the App Store or Google Play. Users need a Canadian bank account to send their first e-Transfer from. KOHO is positioned as a free alternative to a chequing account for Canadians, providing real-time insights into spending and offering features such as free e-Transfers, direct deposit, bill payments, and setting savings goals.