Part of the MITEY Network · independent, not a bankFees retrieved November 1, 2026 · lists checked October 30, 2026
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Institution profile · Fintech — not a bank

KOHO

ActiveKOHO Financial Inc.Via partner institutions

KOHO is a fintech registered with FINTRAC as a money services business. Customer funds are held with Peoples Trust; CDIC coverage applies to eligible funds only after opting in to Earn Interest, according to KOHO.

Profile facts checked October 30, 2026
Mitey the Yeti reading KOHO’s fine print
Best posted savings rate0.5%KOHO High Interest Savings (non-member), on $10,000
Deposit protectionPartner-heldFintech — not a bank

Mitey files the KOHO index card: best posted savings rate 0.5%.

What is KOHO?

KOHO is fintech — not a bank, regulated by Registered with FINTRAC as a money services business. It isn’t a bank; partner institutions hold your money. It doesn’t list personal accounts in FCAC’s Account Comparison Tool, so this page covers its official status, deposit protection, ownership and dated facts.

What changed

KOHO filed notice in January 2024 that it intended to apply for a bank charter (“KOHO Bank”). No approval appeared in the Canada Gazette through October 24, 2026.

At a glance

Legal name
KOHO Financial Inc.
Type
Fintech — not a bank
Head office
Toronto, ON
Regulator
Registered with FINTRAC as a money services business; not a bank
Best posted savings rate
0.5% on $10,000 (KOHO High Interest Savings (non-member))
Website
www.koho.ca

Is my money safe at KOHO?

KOHO is not a bank or CDIC member. It names Peoples Trust as the institution holding customer funds; KOHO says up to $100,000 of eligible funds can be CDIC-protected once a customer opts in to its Earn Interest feature.

What savings rates does KOHO pay?

Savings accounts as listed with FCAC, retrieved November 1, 2026. Posted rates; promotional rates may not appear.
AccountRate at $10,000Monthly fee
KOHO High Interest Savings (non-member)0.5%No monthly fee

What else should you know about KOHO?

  1. Regulated as a money services business by FINTRAC; the KOHO prepaid Mastercard is issued by KOHO Financial Inc.
    Source: koho.ca
  2. Customer funds are held with Peoples Trust.
    Source: koho.ca
  3. Published a Bank Act notice in January 2024 of its intent to apply for letters patent for “KOHO Bank”.
    Source: gazette.gc.ca
Mitey the Yeti, CanadianBanks.ca’s guide, pointing out a tip
Mitey’s note

This company isn’t a bank. Before moving money, read its current disclosure on which institution holds your funds — and check that institution on the CDIC list.

Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.

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