RelatedAll e-walletsCanada

KOHOKOHO

Canada E-wallet Foreigners restricted Not a bank · not insured ★ 4
Open on official site ↗
OperatorKOHO Financial (Canada, partnered with licensed banks)
Minimum top-upNo minimum; fund by card or transfer
Main feesFree base plan; some savings/cashback and premium tiers (~$0–9/mo). See website.
Local bank neededOpen standalone and fund by card; no traditional bank needed
How to sign upApp — register, KYC, fund by card, use KOHO prepaid Visa
Sign-up timeMinutes to register; verification ~1 business day
Data baseline 2026-10. Editor-verified, but rules change — confirm with the official site before applying. Data transparency →

About this wallet

A popular Canadian challenger prepaid account with cashback, autosave and fee-free international spending (on plans), an alternative daily account.

!Not a bank. KOHO is a Canadian fintech offering a prepaid Visa and savings; funds are held by partner banks under regulation, not held by KOHO.

Can foreigners or tourists open it?

Limited. Needs Canadian residency/address and KYC; tourists usually can’t open.

Advantages

  • Easy Canadian opening, useful cashback/save
  • Prepaid Visa worldwide
  • FX-free plans available

Limitations

  • Not a bank; relies on partner
  • Premium features need subscription
  • Foreigners need residency

What you need

  • Passport/work permit
  • Canadian address
  • Card for funding

No minimum; fund by card or transfer｜Free base plan; some savings/cashback and premium tiers (~$0–9/mo). See website.

How to sign up

  1. Install KOHO and register
  2. Verify ID and address
  3. Fund by card
  4. Spend with KOHO Visa

Limits & protection

Per-transaction/daily and ATM limits by tier — in app

FAQ

Can a foreigner or tourist open KOHO?

Limited. Needs Canadian residency/address and KYC; tourists usually can’t open.

Do I need a local bank account or a local phone number for KOHO?

Local bank account: Open standalone and fund by card; no traditional bank needed. Items typically needed: Passport/work permit; Canadian address; Card for funding.

What documents are required to open KOHO?

Typically: Passport/work permit; Canadian address; Card for funding.

How do I sign up for and top up KOHO?

How to sign up: App — register, KYC, fund by card, use KOHO prepaid Visa (Minutes to register; verification ~1 business day). Steps: 1) Install KOHO and register 2) Verify ID and address 3) Fund by card 4) Spend with KOHO Visa Fees: Free base plan; some savings/cashback and premium tiers (~$0–9/mo). See website.

Are there limits on KOHO? Is the balance deposit-insured?

Per-transaction/daily and ATM limits by tier — in app

Ready? Open it officially

E-wallet rules change often — always follow the latest instructions in the official app.

Open on official site ↗ We charge no fees and cannot guarantee approval — always apply through official channels.

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