KOHO Review: Exchange Rates, Fees & Transfer Options

Item: Koho
Rating: 7.8
Author: Artiom Pucinskij

Last updated on January 13th, 2026Why trust usDisclosure

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KOHO is a Canadian fintech app that combines everyday banking (card, cashback, savings and budgeting) with low-cost international money transfers from CAD.

KOHO uses the mid-market exchange rate for all transfers, and total costs mostly come from clear, fixed transfer fees, often making it cheaper than Wise for small to mid-sized transfers.

For example, when sending 1,000 CAD, KOHO delivers 539.59 GBP to the UK vs 538.10 GBP with Wise.

Most transfers arrive in ~30 minutes to 2 business days, depending on the corridor.

Keep reading to see how KOHO really performs on fees and exchange rates, transfer speed, features, and how it compares to similar services.

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Is KOHO right for you?

KOHO is generally great for making small to mid-sized international transfers from Canada. It uses interbank rates with clear upfront fees.

KOHO is good if…	Find an alternative if…
You’re sending money from Canada (CAD only) You make small to mid-sized or recurring international transfers You regularly send money to Asia, Africa, or Latin America You want fast delivery (often ~30 minutes) to popular corridors like India, Pakistan, and the UK You prefer a mobile-first, all-in-one app that also handles cards, cashback, savings, and budgeting	You need to send money to Europe or the EU You want to send money from multiple currencies or countries, not just CAD You’re making large one-off transfers above $5,000 You need reliable, real human support, especially for urgent or high-value transfers You need a dedicated money transfer service without banking subscriptions or app limitations
Visit KOHO

RATING BREAKDOWN

Scoring KOHO

The key areas of our KOHO review are focused on the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety and customer feedback.

Below is a quick summary of KOHO. Each area is covered in more detail below.

Exchange rates & fees

9.5

KOHO uses the mid-market exchange rate with no hidden FX markup.

Costs come from transparent, mostly fixed transfer fees, which are often cheaper than Wise for small to mid-sized transfers.

Transfer speed

8.5

Transfers to popular corridors like India, Pakistan, the UK, and parts of Asia often arrive in ~30 minutes.

Most other destinations land within 1-2 business days.

Transfer limits

6.5

Transfers are capped at $5,000 per transaction, $5,000 per day, and $15,000 per month on a rolling basis.

These limits are fine for everyday use but restrictive for large one-off transfers.

Product offering

7.5

KOHO supports CAD-only outbound transfers to 45 countries and currencies, with payouts via local bank rails, SWIFT, mobile wallets, and instant payment networks.

On the downside, you can’t use KOHO to send money to Europe, meaning you will need to find an alternative.

It also includes domestic P2P (K2K) transfers and everyday banking features.

Ease of use

8.5

The app is quick to set up and easy to use, with clear pricing and simple transfer flows. Transfers are fast to initiate, though I’ve had the app crash a few times while testing.

Regulation and safety

8.5

KOHO is a FINTRAC-registered Canadian money services business.

Funds are segregated, held with regulated institutions, and protected by Mastercard Zero Liability, strong encryption, and in-app security controls.

Customer feedback

4.5

KOHO has a low Trustpilot rating (1.4/5), mainly due to complaints about customer support, account freezes, and subscriptions.

Reviews specifically about international transfers are generally more neutral, but support during edge cases is a clear weakness.

Before you choose whether to transfer funds overseas with KOHO, here’s a quick summary of benefits and drawbacks.

Pros

Mid-market exchange rates with no hidden FX markup
Low, predictable international transfer fees
Fast transfers to many popular corridors, often under 30 minutes
Supports local bank transfers, SWIFT, mobile wallets, and instant payment networks, which is especially useful for hard-to-reach regions
Great combination of tools, from international transfers to everyday banking features like cards, cashback, savings, and credit tools

Cons

Transfers only available from CAD
Can’t send money to the EU in EUR
Low transfer limits capped at $5,000 per day and $15,000 per month
Customer support is the weakest point, this is where most negative reviews come from

COST

KOHO fees and exchange rates

9.5

Fees & Rates

Visit Koho

Provider

9.8

9.4

9.3

9.1

9.0

Exchange rates

All international transfers with KOHO are made at the mid-market rate (also known as the interbank rate). This is the same as Wise and Aspora.

This is what they say on their website, but, of course we did our homework and checked all their exchange rates (just like we do with all our reviews).

Since KOHO only allows transfers from Canada, we’ve looked at all the rates from CAD to available currencies:

Destination	KOHO Rate	Mid-market rate	Markup
AED	2.6615	2.6620	-0.02%
ARS	1051.1631	1051.5810	-0.04%
AUD	1.0969	1.0973	-0.04%
BDT	88.6000	88.6138	-0.02%
BRL	4.0014	4.0055	-0.10%
CAD	1.0000	1.0000	0.00%
CHF	0.5766	0.5768	-0.03%
CLP	660.5696	660.7325	-0.02%
CNY	5.1029	5.1036	-0.01%
COP	2793.6200	2794.6290	-0.04%
CZK	15.0438	15.0525	-0.06%
DKK	4.6232	4.6241	-0.02%
EGP	34.4518	34.4558	-0.01%
GBP	0.5418	0.5420	-0.04%
GHS	8.3049	8.3025	0.03%
HKD	5.6387	5.6398	-0.02%
IDR	12127.6900	12129.5100	-0.02%
INR	64.9725	65.0018	-0.05%
JPY	114.0000	114.0320	-0.03%
KES	93.3401	93.4325	-0.10%
KRW	1071.4600	1071.8510	-0.04%
LKR	224.2920	224.1948	0.04%
MXN	13.0607	13.0691	-0.06%
MYR	2.9524	2.9535	-0.04%
NGN	1055.5300	1055.5915	-0.01%
NOK	7.3775	7.3801	-0.03%
NPR	103.5075	103.6016	-0.09%
NZD	1.2616	1.2618	-0.02%
PEN	2.4397	2.4399	-0.01%
PHP	42.5000	42.5100	-0.02%
PKR	202.9500	202.8600	0.04%
PLN	2.6063	2.6071	-0.03%
SEK	6.7519	6.7531	-0.02%
SGD	0.9367	0.9371	-0.04%
THB	22.7700	22.7800	-0.04%
TRY	31.0216	31.0305	-0.03%
UGX	2588.5934	2588.4338	0.01%
USD	0.7247	0.7248	-0.02%
VND	19033.9900	19033.3500	0.00%
ZAR	12.1567	12.1614	-0.04%

*All data and exchange rates collected in December 2025 directly from KOHO website.

There is some variance in the rates, around 0.03%, but this is normal considering the time difference between me taking the rates and comparing to the interbank rate.

With such a small fluctuation, it is safe to say that KOHO really does make international transfers at the mid-market rate (or at least very very close to it).

Also, it’s important to know that the exchange rate itself remains stable regardless of transfer size, the main cost difference comes from fixed transfer fees, not hidden FX margins (more on that below).

International transfer fees

KOHO’s international transfer fees are transparent and mostly fixed, meaning the fee doesn’t scale much as you send more money.

What I really like about KOHO is their transparency with fees. KOHO doesn’t hide costs in the exchange rate.

Instead, it charges clear upfront fees, which makes pricing predictable and easy to compare, just like with the best money transfer companies like Wise.

In most cases, you pay a small flat fee, while the exchange rate stays near the interbank rate (as explained above).

Just like with exchange rates, we’ve looked at all the available corridors and transfer fees, open the accordion below to see the raw data.

Sending 200 CAD with KOHO

From	To	Amount	Transfer fee	Receive amount
CAD	CNY	200	5.67	995.31
CAD	INR	200	1.45	13092.84
CAD	PKR	200	2.1	40295.42
CAD	PHP	200	1.9	8478.83
CAD	USD	200	1.9	143.98
CAD	ARS	200	6.75	202257.89
CAD	AUD	200	1.9	216.49
CAD	BDT	200	2.49	17469.56
CAD	BRL	200	5.26	764.51
CAD	CAD	200	1.4	198.6
CAD	CLP	200	9.49	126639
CAD	COP	200	8.22	531724.95
CAD	CZK	200	4.77	2933.32
CAD	DKK	200	2.1	913.49
CAD	EGP	200	6.45	6672.14
CAD	GHS	200	7.24	1594.32
CAD	HKD	200	1.9	1120.39
CAD	IDR	200	2.69	2389071
CAD	JPY	200	7.68	21663
CAD	KES	200	6.05	18169.61
CAD	MYR	200	1.9	588.88
CAD	MXN	200	2.1	2587.05
CAD	NPR	200	2.79	20807.17
CAD	NZD	200	4.08	245.47
CAD	NGN	200	4.28	206411.54
CAD	NOK	200	1.9	1456.93
CAD	PEN	200	10.17	464.66
CAD	PLN	200	3.68	511.9
CAD	SGD	200	1.9	185.48
CAD	ZAR	200	5.62	2369.9
CAD	KRW	200	4.04	208951
CAD	LKR	200	3.39	44155.89
CAD	SEK	200	2.1	1333.8
CAD	CHF	200	15.86	106.36
CAD	THB	200	2.79	4502.24
CAD	TRY	200	3.29	6102.46
CAD	AED	200	15.86	491.38
CAD	UGX	200	8.46	494995
CAD	GBP	200	1.9	107.45
CAD	VND	200	3.49	3753718

Sending 1000 CAD with KOHO

From	To	Amount	Transfer fee	Receive amount
CAD	CNY	1000	11.67	5061.94
CAD	INR	1000	3.05	65740.62
CAD	PKR	1000	4.9	202613.31
CAD	PHP	1000	3.9	42633.23
CAD	USD	1000	3.9	723.97
CAD	ARS	1000	17.15	1028643.54
CAD	AUD	1000	3.9	1088.54
CAD	BDT	1000	6.89	87840.38
CAD	BRL	1000	15.26	3865.97
CAD	CAD	1000	1.4	998.6
CAD	CLP	1000	25.49	647786
CAD	COP	1000	21.82	2712042.54
CAD	CZK	1000	12.77	14833.2
CAD	DKK	1000	4.9	4593.21
CAD	EGP	1000	18.45	33836.08
CAD	GHS	1000	25.24	8062.17
CAD	HKD	1000	3.9	5633.56
CAD	IDR	1000	5.09	12046763
CAD	JPY	1000	10.48	111460
CAD	KES	1000	16.45	92142.57
CAD	MYR	1000	3.9	2961.02
CAD	MXN	1000	4.9	13008.21
CAD	NPR	1000	5.59	104919.02
CAD	NZD	1000	12.08	1237.77
CAD	NGN	1000	13.08	1040818.97
CAD	NOK	1000	3.9	7325.74
CAD	PEN	1000	26.17	2383.73
CAD	PLN	1000	10.08	2581.21
CAD	SGD	1000	3.9	932.65
CAD	ZAR	1000	10.02	12066.41
CAD	KRW	1000	7.64	1058128
CAD	LKR	1000	5.79	223287.28
CAD	SEK	1000	4.9	6706.61
CAD	CHF	1000	23.86	563.82
CAD	THB	1000	5.59	22702.32
CAD	TRY	1000	8.09	30771.31
CAD	AED	1000	23.86	2604.83
CAD	UGX	1000	24.46	2521069
CAD	GBP	1000	3.9	540.29
CAD	VND	1000	6.29	18981785

Sending 7000 CAD with KOHO

From	To	Amount	Transfer fee	Receive amount
CAD	CNY	7000	56.67	35561.66
CAD	INR	7000	15.05	460598.92
CAD	PKR	7000	25.9	1419997.5
CAD	PHP	7000	18.9	298791.23
CAD	USD	7000	18.9	5073.87
CAD	ARS	7000	95.15	7226535.89
CAD	AUD	7000	18.9	7628.95
CAD	BDT	7000	39.89	615621.53
CAD	BRL	7000	90.26	27126.93
CAD	CAD	7000	1.4	6998.6
CAD	CLP	7000	145.49	4556389
CAD	COP	7000	123.82	19064424.48
CAD	CZK	7000	72.77	104082.29
CAD	DKK	7000	25.9	32191.07
CAD	EGP	7000	108.45	237565.6
CAD	GHS	7000	160.24	56571
CAD	HKD	7000	18.9	39482.33
CAD	IDR	7000	23.09	84479451
CAD	JPY	7000	31.48	784935
CAD	KES	7000	94.45	646939.82
CAD	MYR	7000	18.9	20752.03
CAD	MXN	7000	25.9	91166.89
CAD	NPR	7000	26.59	735757.93
CAD	NZD	7000	72.08	8679.99
CAD	NGN	7000	79.08	7298874.71
CAD	NOK	7000	18.9	51341.83
CAD	PEN	7000	146.17	16776.8
CAD	PLN	7000	58.08	18101.05
CAD	SGD	7000	18.9	6536.41
CAD	ZAR	7000	43.02	84795.79
CAD	KRW	7000	34.64	7426959
CAD	LKR	7000	23.79	1566772.69
CAD	SEK	7000	25.9	47002.68
CAD	CHF	7000	83.86	3994.76
CAD	THB	7000	26.59	159202.89
CAD	TRY	7000	44.09	215787.71
CAD	AED	7000	83.86	18455.72
CAD	UGX	7000	144.46	17716622
CAD	GBP	7000	18.9	3786.55
CAD	VND	7000	27.29	133192284

What’s interesting, is that in a lot of cases the fee is actually better with KOHO than the one offered by Wise.

For example, sending 200 CAD to PHP will get you 8435.25 PHP with KOHO vs 8,374.81 PHP with Wise. That’s around $1.03 better.

It may not seem like much, but if you’re making 20 transfers per year, with different amounts, that easily becomes a sizable saving.

In general, when sending CAD abroad with KOHO you can expect the following, depending on the amount, destination, and deposit/withdrawal methods:

Destination currency	Typical fee (CAD)
USD	$1.90 – $18.90
INR	$1.45 – $15.05
PHP	$1.90 – $18.90
PKR	$2.10 – $25.90
CNY (China)	$5.67 – $56.67
GBP	$1.90 – $18.90
AUD	$1.90 – $18.90
EUR-linked (CHF, DKK, NOK, SEK, PLN)	~$2 – $26
LATAM (MXN, BRL, ARS, COP, CLP, PEN)	~$2 – $95
Africa (NGN, GHS, KES, UGX, ZAR)	~$4 – $160
Asia (JPY, KRW, THB, VND, MYR, SGD)	~$2 – $35

This means that:

Small transfers are cheap. Many destinations cost under $3 CAD.
Larger transfers benefit from scale. For example, sending $7,000 often costs 3-5x more than sending $200.
Transfer network matters. Faster transfers (30 minutes) are usually cheaper, using local bank transfers in Asia and Europe. While SWIFT transfers (e.g. China, Switzerland) cost more and take longer.

Additional fees for debit card deposits

In addition to the fees outlined above, KOHO also charges 3 CAD on all debit card deposits.

If you're an “Everything” member, these fees are waived.

To make it easier for you, let’s compare KOHO with other companies.

Let’s imagine you’re making a 1000 CAD transfer to these countries below. You use bank deposit and send it to a bank account.

Country	KOHO Receive	Wise Receive	Xe Receive
The UK (GBP)	✅ 539.59 GBP	538.10 GBP	537.20 GBP
India (INR)	✅ 65,431.86 INR	65,108.18 INR	65,391.40 INR
The Philippines (PHP)	✅ 42,404.13 PHP	42,192.56 PHP	42,252.15 PHP
Mexico (MXN)	✅ 13,001.05 MXN	12,948.69 MXN	12,846.66 MXN
USA (USD)	✅ 722.97 USD	720.39 USD	719.80 USD

*Data collected in December 2025.

As you can see, it’s safe to say that KOHO is the cheapest option to send money from Canada.

Account fees

This is not directly related to international money transfer, however, I think it’s worth a mention.

KOHO comes with 3 subscription tiers, ranging from $0 to $14.75.

You can make international money transfers on the free tier, but if you want to make use of other services, it might be a good idea to consider paid tiers.

Feature / Fee	Essential	Extra	Everything
Monthly Fee	$0	$12	$14.75
Estimated Yearly Value	$100+	$200+	$500+
Cash back on groceries, transport, food & drinks	1%	1.5%	2%
Interest Earned	2%	2.5%	3.5%
Free Credit Score	Yes	Yes	Yes
Instant e-Transfers	Yes	Yes	Yes
No Foreign Transaction Fees	No	Yes	Yes
Discount on Credit Building	No	30%	50%
Advanced Phone Support	No	No	Yes

SPEED

Transfer speed

8.5

Transfer Speed

Visit Koho

Provider

9.0

9.0

9.0

8.0

7.0

KOHO claims that transfers to popular countries like India, Pakistan, and the Philippines arrive in minutes to a few hours, while most other destinations take 1-2 business days.

Similar to the above, we’ve decided to put these claims to the test and looked at all transfer times for all corridors offered by KOHO.

Based on the data we analyzed (see below), that claim holds up well.

KOHO transfer speed data

From	To	Deposit method	Payout method	Delivery time
CAD	AED	LOCAL	Bank Transfer	2 Days
CAD	ARS	LOCAL	Bank Transfer	2 Days
CAD	AUD	LOCAL	Bank Transfer	30 Minutes
CAD	BDT	LOCAL	Bank Transfer	2 Days
CAD	BRL	LOCAL	Bank Transfer	2 Days
CAD	CAD	LOCAL	Bank Transfer	2 Days
CAD	CHF	SWIFT	Bank Transfer	2 Days
CAD	CLP	LOCAL	Bank Transfer	2 Days
CAD	CNY	SWIFT	Bank Transfer	2 Days
CAD	COP	LOCAL	Bank Transfer	2 Days
CAD	CZK	LOCAL	Bank Transfer	30 Minutes
CAD	DKK	LOCAL	Bank Transfer	2 Days
CAD	EGP	LOCAL	Bank Transfer	2 Days
CAD	GBP	LOCAL	Bank Transfer	30 Minutes
CAD	GHS	LOCAL	Bank Transfer	2 Days
CAD	HKD	LOCAL	Bank Transfer	30 Minutes
CAD	IDR	LOCAL	Bank Transfer	30 Minutes
CAD	INR	LOCAL	Bank Transfer	30 Minutes
CAD	JPY	LOCAL	Bank Transfer	2 Days
CAD	KES	LOCAL	Bank Transfer	2 Days
CAD	KRW	LOCAL	Bank Transfer	30 Minutes
CAD	LKR	LOCAL	Bank Transfer	2 Days
CAD	MXN	LOCAL	Bank Transfer	30 Minutes
CAD	MYR	LOCAL	Bank Transfer	30 Minutes
CAD	NGN	LOCAL	Bank Transfer	30 Minutes
CAD	NOK	LOCAL	Bank Transfer	2 Days
CAD	NPR	LOCAL	Bank Transfer	2 Days
CAD	NZD	LOCAL	Bank Transfer	2 Days
CAD	PEN	LOCAL	Bank Transfer	2 Days
CAD	PHP	LOCAL	Bank Transfer	2 Days
CAD	PKR	LOCAL	Bank Transfer	30 Minutes
CAD	PLN	LOCAL	Bank Transfer	2 Days
CAD	SEK	LOCAL	Bank Transfer	2 Days
CAD	SGD	LOCAL	Bank Transfer	30 Minutes
CAD	THB	LOCAL	Bank Transfer	30 Minutes
CAD	TRY	LOCAL	Bank Transfer	30 Minutes
CAD	UGX	LOCAL	Bank Transfer	2 Days
CAD	USD	LOCAL	Bank Transfer	2 Days
CAD	VND	LOCAL	Bank Transfer	30 Minutes
CAD	ZAR	LOCAL	Bank Transfer	2 Days

Across the corridors we reviewed, transfer speed depends mainly on whether the payout uses local bank rails or SWIFT.

It remains the same regardless of the transfer amount.

Breaking it down further, these routes consistently show delivery times of around 30 minutes, matching KOHO’s “near-instant” claims:

Destination currency	Typical delivery time
INR (India)	~30 minutes
PKR (Pakistan)	~30 minutes
HKD (Hong Kong)	~30 minutes
SGD (Singapore)	~30 minutes
MYR (Malaysia)	~30 minutes
MXN (Mexico)	~30 minutes
KRW (South Korea)	~30 minutes
THB (Thailand)	~30 minutes
VND (Vietnam)	~30 minutes
GBP (UK)	~30 minutes
AUD (Australia)	~30 minutes
CZK (Czech Republic)	~30 minutes

These are local bank transfers, which explains the speed.

Most other destinations fall into the 1-2 business day range:

Destination currency	Typical delivery time
USD	~2 days
PHP (Philippines)	~2 days
JPY (Japan)	~2 days
EUR-region currencies (DKK, SEK, NOK, PLN)	~2 days
LATAM (BRL, ARS, COP, CLP, PEN)	~2 days
Africa (NGN, GHS, KES, UGX, ZAR)	~2 days

A small number of corridors use SWIFT, which is slower and more expensive:

Destination currency	Typical delivery time
CNY (China)	~2 days
CHF (Switzerland)	~2 days

These are expected to be longer, due to intermediary banks.

LIMITS

Transfer limits

6.5

Transfer Limits

Visit Koho

Provider

9.8

9.5

9.5

9.0

8.0

KOHO keeps its international transfer limits simple and predictable, using rolling daily and monthly caps.

These limits apply across all transfers made from your account:

Limit type	Allowance
Maximum per transfer	$5,000 CAD
Daily load limit	$5,000 CAD
Daily transfer count	Up to 3 transfers
Monthly load limit	$15,000 CAD
Monthly transfer count	Up to 20 transfers

However, it’s worth keeping a few things in mind:

Daily limits are based on a rolling 24-hour window, not a calendar day.
Monthly limits run on a rolling 30-day period, not a fixed month.
Every transfer you make counts toward both the amount and transaction limits.

This means spacing out transfers can help you stay within limits.

If you’re after larger international transfers, I’d suggest looking at our Wise review, and Xe review.

Both services have much higher limits, excellent support options, and offer good deals on large transfers.

If you’re also planning to use other KOHO services, there are more limits outlined in here.

PRODUCT

Product offering

7.5

Product Offering

Visit Koho

Provider

9.3

9.0

8.8

8.0

8.0

Supported currencies & destinations

You can only send CAD with KOHO, to the following destinations and currencies:

Country name	Currency Code
People's Republic of China	CNY
India	INR
Pakistan	PKR
Philippines	PHP
United States of America	USD
Argentina	ARS
Australia	AUD
Bangladesh	BDT
Brazil	BRL
Canada	CAD
Chile	CLP
Colombia	COP
Costa Rica	CRC
Czech Republic	CZK
Denmark	DKK
Egypt	EGP
Ghana	GHS
Hong Kong	HKD
Hungary	HUF
Indonesia	IDR
Israel	ILS
Japan	JPY
Kenya	KES
Malaysia	MYR
Mexico	MXN
Nepal	NPR
New Zealand	NZD
Nigeria	NGN
Norway	NOK
Peru	PEN
Poland	PLN
Romania	RON
Saudi Arabia	SAR
Singapore	SGD
South Africa	ZAR
South Korea	KRW
Sri Lanka	LKR
Sweden	SEK
Switzerland	CHF
Thailand	THB
Türkiye	TRY
United Arab Emirates	AED
Uganda	UGX
United Kingdom	GBP
Vietnam	VND

As you’ve probably noticed, you can’t use KOHO to send money to Europe, meaning you will need an alternative.

If you need to send money somewhere else, I suggest you run a quick comparison using the form below to get the latest deals.

Transfer Types

With KOHO you can send money abroad, make domestic transfers and send money between KOHO users.

International money transfers

KOHO lets you send money from Canada to supported countries abroad directly from the app.

Transfers use either local bank rails or SWIFT, with transparent fees, near-interbank exchange rates, and delivery times ranging from minutes to 2 business days.

Domestic transfers (K2K)

K2K is KOHO’s peer-to-peer transfer feature that lets you send money instantly and for free to other KOHO users.

Funds move in real time between KOHO accounts, making it ideal for splitting bills or sending money to friends and family in Canada.

Interac e-Transfer (Canada only)

KOHO supports fast domestic Interac e-Transfers, allowing you to send or receive money between KOHO and other Canadian banks in minutes.

This is a simple, low-cost option for everyday payments within Canada.

Deposit methods

With KOHO you can make deposits using Interac e-Transfer, debit cards, bank transfer, and even use cash deposits through Canada Post.

Interac e-Transfer

KOHO supports Interac e-Transfers, which usually arrive within a few minutes.

You can receive transfers from friends, family, or businesses using your unique KOHO e-Transfer email.

Account limits apply, and your bank must support auto-deposit for the smoothest experience.

Debit card loading

You can load funds using a Visa or Mastercard debit card, including Apple Pay. Most loads are completed in under a minute. A $3 fee applies to each load, though Everything plan members get this fee waived.

Debit card loads follow standard KOHO limits, with an additional daily cap of $1,500.

Credit cards, prepaid cards, and RBC Virtual Visa cards are not supported.

Direct deposit (Direct Load / Pre-Authorized Credit)

Direct deposit lets you receive payments from an employer, government agency, or business by sharing your KOHO account details.

Deposits must match the name on your KOHO account.

KOHO typically processes deposits the night before payday, though deposits aren’t processed on Sundays or holidays.

Cash deposit (Canada Post)

Verified KOHO users can deposit cash at Canada Post locations using a QR code generated in the app.

The minimum deposit is $10, with a maximum of $3,000 per transaction, $3,000 per 24 hours, and $10,000 per 30 days.

Deposits must be in Canadian dollars and usually appear in your KOHO account within about 10 minutes.

Payout methods

KOHO supports multiple payout options depending on the destination country, including bank transfers, local payment networks, and popular mobile wallets.

Bank transfers (most countries)

For the majority of destinations, payouts are made via local bank transfer, which is reliable and widely supported.

Bank transfers are available in:

USD, CAD, GBP, EUR, AUD, NZD, JPY, KRW, SGD, INR, PKR, PHP, MXN, BRL, ARS, CLP, COP, PEN, PLN, CZK, DKK, NOK, SEK, CHF*, AED, TRY, THB, VND, IDR, MYR, NGN, GHS, KES, UGX, ZAR, LKR, NPR, EGP, HKD

However it’s worth noting that some corridors use SWIFT instead of local rails, which is slower and a bit more expensive (check our fees section above to learn more)

SWIFT transfers

Certain countries like China, USA, and Switzerland rely on SWIFT bank transfers, which are slower and typically used where local rails aren’t available.

Mobile wallets

In supported regions, KOHO allows payouts directly to mobile wallets. This is often the fastest and cheapest way to receive money.

A few examples of supported wallets are:

Philippines: GCash, Maya, Coins.ph, GrabPay, ShopeePay, Bayad, PalawanPay, and more
Indonesia: GoPay, OVO, DANA, ShopeePay, LinkAja
Bangladesh: bKash, Rocket
Ghana: MTN, Airtel, Tigo, Vodacom
Kenya: M-PESA, Airtel, Equitel
Uganda: MTN, Airtel

Proxy / instant payment networks

Some countries support proxy-based systems, which allow near-instant transfers using identifiers instead of full bank details.

It’s available in India (UPI), Australia, Brazil, Hong Kong, Malaysia, and Singapore.

Mobile app

KOHO is mobile first company, meaning all KOHO services are used through their app, including international money transfers.

The app is rated 4.8/5 from ~82,000 reviews on the App Store, while Android ratings are more mixed, with 3.8/5 from ~71,600 reviews, mainly due to occasional stability or login issues after recent updates.

With KOHO app you get:

A prepaid Mastercard (virtual and physical)
Cash back on purchases
High-interest savings vaults
Credit building and rent reporting tools
International money transfers
Interac e-Transfers
Bill payments
Instant card controls
Built-in budgeting insights

We’ve also looked at the app reviews across both stores, and in general, users find the app easy to set up and intuitive to use, with especially good feedback around credit building and real-time spending tracking.

Other services

KOHO is somewhat a super-app, meaning it handles multiple financial services under one platform, very similar to Revolut and Starling Bank.

Aside from the international money transfers, KOHO offers:

Virtual cards
Physical cards
High interest savings accounts
Cashbacks
Borrowing money
Credit reports
And more

If you’re looking for an all rounded service with international money transfer features, it’s worth considering it.

USABILITY

Ease of use

8.5

Ease of Use

Visit Koho

Provider

10.0

9.0

9.0

9.0

9.0

I’ve downloaded the app, signed up, and made a test transfer.

Overall no complaints, the sign up process is smooth and quick, it took me a few minutes to sign up.

The verification process does take a bit of time, but I could browse around the app without it.

Making transfers is straightforward and quick, similar to other money transfer apps.

The only odd thing that I noticed, is that the app crashed once on me when I just opened it, but after re-opening it was working fine with no issues.

Customer service

If you run into any issues or have questions, there are a few ways you can get help, mainly using the:

Extensive help center here
Online chat support via the app or the website
Dedicated fraud email: fraud@koho.ca

I couldn’t find a way to call them or support email.

This is a bit concerning, but unfortunately in-line with similar app-based money transfer companies. Their support options are limited.

If you are making large transfers or need real human support, I strongly suggest checking our currency brokers. No other service beats their support options.

SAFETY

Safety and trust

8.5

Safety & Trust

Visit Koho

Provider

9.5

9.2

9.0

9.0

9.0

Legitimacy of KOHO

KOHO is a legitimate, Canada-based financial company.

It’s operated by KOHO Financial Inc., a FINTRAC-registered money services business, and its prepaid card runs on the Mastercard network, meaning it’s accepted anywhere Mastercard is.

User funds are segregated from KOHO’s corporate money and held with federally regulated Canadian financial institutions.

KOHO also follows strict KYC (Know Your Customer) and anti-fraud regulations, offers in-app card controls, and includes Mastercard Zero Liability protection against unauthorized transactions.

While KOHO isn’t a traditional bank, it operates under clear Canadian regulations with transparent terms and consumer protections in place.

Protection of customer data & funds

Your money is kept separate from KOHO’s own funds and safeguarded with federally regulated Canadian banks.

If you enable KOHO’s Earn Interest feature, eligible balances are held with CDIC-member institutions, meaning your funds can be protected up to standard CDIC limits.

On the security side, KOHO uses strong encryption, biometric login, two-step verification, and lets you instantly lock your card in the app if it’s lost or stolen.

The KOHO Mastercard is also covered by Mastercard Zero Liability, which protects you from unauthorized transactions.

KOHO follows Canadian regulations, is FINTRAC-registered, and undergoes independent security audits (including SOC 2 and PCI DSS).

Key industry partnerships

Over time, KOHO has partnered with a few fintech companies to provide the services, including:

Propel (Embedded Lending): Enables eligible KOHO users to access a line of credit directly in the app, using AI-driven underwriting designed for fast, transparent approvals.
Boxo & Airalo (eSIMs): Lets users buy and activate travel eSIMs inside the KOHO app, offering a cheaper and simpler alternative to international roaming.
Walnut Insurance (Renters Insurance): Gives KOHO members access to renters insurance without leaving the app.
Mastercard (Payments): KOHO cards run on the Mastercard network, ensuring global acceptance and built-in fraud protection.
NBA (Brand & Marketing): KOHO partnered as a presenting sponsor of the NBA Playoffs in Canada, boosting brand visibility through fan promotions and rewards.

Industry awards

KOHO has won multiple awards over the years, including:

Deloitte Technology Fast 50 / Fast 500: Consistently ranked among North America’s fastest-growing tech companies, including #2 in Canada (2025) and Top 200 in North America (2024).
Google Search Honours (2024): Awarded Gold for Measurement & Analytics Leadership, recognizing KOHO’s data-driven marketing and growth strategy.
Innovation & Efficiency: Recognized for using AI to improve customer acquisition and operational efficiency, helping keep costs lower for users.
A’ Design Award (2023): KOHO’s R&D team earned a Silver Award for the Icloud Office Chair, highlighting product design expertise beyond fintech.

REVIEWS

Customer feedback

4.5

Customer Feedback

Visit Koho

Provider

9.0

8.7

8.5

8.5

8.4

On Trustpilot, KOHO currently holds a low rating of 1.4 out of 5 stars from around 503 reviews, which at first glance looks concerning.

When we asked KOHO about this, they explained that many of the negative reviews relate to other products and account services, rather than their international money transfer feature specifically.

However, this is not something we can completely ignore.

Below is a quick summary of user reviews that seem to be dragging the overall ratings down.

Main positives

Easy-to-use app for everyday spending and basic banking
Quick setup for many users, especially for simple use cases
Helpful features like budgeting tools and credit-building (when they work)
Some long-term users report smooth experiences and no unexpected issues
Positive feedback when users reach a knowledgeable support agent

Main negatives

Very poor customer support experience reported by many users
Difficult or impossible to reach a human agent without paying for higher-tier plans
Slow responses via chat and email, especially during urgent issues
Accounts being frozen or closed with little explanation
Delays accessing or recovering funds during disputes or fraud investigations
Frustration around subscriptions, fees, and account cancellations
Negative experiences tend to escalate during edge cases (fraud, verification, account locks)

As you can see, this suggests that KOHO can work well for many users in normal day-to-day use.

But, support experiences during edge cases, such as fraud, account locks, or cancellations are where frustration tends to spike.

This helps explain why ratings skew heavily negative despite a loyal base of satisfied users.

Unfortunately, issues with support are very common for app-based money transfer companies and similar services.

For example, Wise and Revolut both have negative reviews and score the lowest on customer support in our analysis.

As I’ve already mentioned, if your main focus is international transfers, and you need real human support 24/7, I suggest having a look at the currency brokers such as Key Currency, CurrencyFlow, Regency FX, and TorFX.

SIGN UP

Opening an account with KOHO

Before you can send money abroad, you’ll need to open an account with KOHO.

Follow these steps to get started.

Download the KOHO app

Get the KOHO app from the App Store or Google Play and start the sign-up process.

Create your account

Enter your basic details like name, email, and phone number, then set up your login and security preferences.

Verify your identity

KOHO will ask for ID verification to meet Canadian regulations. This is done directly in the app and usually takes just a few minutes.

Choose your plan

Pick the free Essential plan or upgrade to Extra or Everything for added perks like higher cashback and no foreign transaction fees.

Fund your account & start using it

Add money via e-Transfer, direct deposit, or debit card. Your virtual card is available instantly, and your physical KOHO Mastercard arrives by mail.

SEND MONEY ABROAD

Making international transfers

Once you have your account verified, you can send money with KOHO by following the steps below.

Open the KOHO app

Choose the destination and amount

Select the recipient’s country and currency, then enter how much you want to send. KOHO shows the fees upfront.

Add recipient details

Enter the recipient’s bank details and other required transfer information, depending on the country.

Review and confirm

Double-check the transfer details and confirm. The money is sent directly from your KOHO balance, with tracking available in the app.

If you are sending money to the bank account outside of the EU, you will also need to provide a SWIFT code.

Use the search box below to find your recipient’s SWIFT code.

Find your SWIFT code

Find the SWIFT/BIC code by entering country details and bank name.

Country

Canceling transfer

You have around a 3 minute grace period to cancel your transfer within the app by clicking the “Cancel” button. However, as soon as your transfer was processed, it can no longer be cancelled.

RECEIVING MONEY

Receive international transfers

Once you initiate the transfer, there’s nothing the recipient needs to do as money will land directly into their bank account or wallet, depending on the payout method you’ve picked.

Does the recipient need an account with KOHO?

No, your recipient doesn’t need to have a KOHO app to receive the money. Your transfer will arrive into your recipient's bank account or wallet directly.

The only time they will need the app is if you’re making a K2K payment (a transfer between KOHO accounts).

ALTERNATIVES

How KOHO compares to other transfer services

Fees & Rates

9.5

Transfer Speed

8.5

Safety & Trust

8.5

Product Offering

7.5

Transfer Limits

6.5

Ease of Use

8.5

Customer Feedback

4.5

7.6 Overall

Fees & Rates

9.4

Transfer Speed

9.0

Safety & Trust

9.2

Product Offering

8.8

Transfer Limits

9.5

Ease of Use

10.0

Customer Feedback

8.5

9.2 Overall

Read Review

Fees & Rates

9.3

Transfer Speed

9.0

Safety & Trust

9.0

Product Offering

8.0

Transfer Limits

9.8

Ease of Use

9.0

Customer Feedback

8.7

9.0 Overall

Read Review

Fees & Rates

9.8

Transfer Speed

9.0

Safety & Trust

9.0

Product Offering

8.0

Transfer Limits

9.0

Ease of Use

9.0

Customer Feedback

8.4

8.9 Overall

Read Review

Fees & Rates

9.0

Transfer Speed

7.0

Safety & Trust

9.5

Product Offering

9.3

Transfer Limits

9.5

Ease of Use

9.0

Customer Feedback

8.5

8.8 Overall

Read Review

Fees & Rates

9.1

Transfer Speed

8.0

Safety & Trust

9.0

Product Offering

9.0

Transfer Limits

8.0

Ease of Use

9.0

Customer Feedback

9.0

8.7 Overall

Read Review

Other Alternatives

Alternatively, consider using one of these neobanks for international transfers.

first direct Bank

Monzo Bank International Transfers

N26 International Transfers

Starling Bank

Tide Review

SUMMARY

KOHO: Is it good for transfers abroad?

KOHO is a strong option for Canadians sending money abroad, especially if you’re making regular, small to mid-sized transfers to destinations in Asia, Africa, and Latin America.

Its use of the mid-market exchange rate, combined with low, transparent transfer fees, makes it one of the cheapest ways to send money from Canada, often even beating Wise on price.

The international transfer side of KOHO is fast and reliable, where most transfers will take around 30 minutes and can take up to 2 business days.

That said, KOHO isn’t for everyone.

You can only send money from CAD, transfer limits are relatively low, and Europe is largely unsupported.

Customer support is also a clear weakness, particularly if something goes wrong and you need urgent help.

Generally speaking, KOHO works best as a cost-effective, mobile-first solution for everyday small international transfers, especially if you already use the app for banking.

If you need to send large amounts, want EU coverage, or require hands-on support, it’s worth comparing alternatives like Wise, Xe, or a currency broker before committing.

As always, we recommend comparing your options below.

The best transfer service depends on your destination, amount, and how quickly you need the money to arrive.

FAQS

A bit more about KOHO

Is KOHO actually using the interbank exchange rate?

Yes, based on the data analysed, KOHO’s exchange rates closely match the mid-market (interbank) rate, with only very small deviations that are likely due to normal market fluctuations.

What fees should I expect beyond the exchange rate?

KOHO charges a flat transfer fee that varies by destination and payout method.

There’s no consistent percentage markup baked into the exchange rate itself.

Are transfers safe despite negative reviews?

Transfers generally appear to work as advertised, with predictable fees and delivery times.

Most negative reviews relate to account access, support, or other KOHO services, not international money transfers.

Why is KOHO’s Trustpilot rating so low?

KOHO has a 1.4 rating from 500+ reviews, largely driven by complaints about customer support, account freezes, and legacy products.

KOHO states these reviews are not primarily related to money transfers (which is also evident in our analysis).

Can my account or funds be frozen?

Yes. Like most fintechs, KOHO may temporarily restrict accounts for compliance, fraud checks, or verification issues.

This is a common theme in negative reviews and something you should be aware of.

Help & FAQ

Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.

FAQs

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Koho user feedback

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Contributors

Author

Artiom Pucinskij

Financial Content Strategist

artiom.pucinskij@intent.uk

With 6+ years of hands-on experience in international money transfer services, Artiom has tested and analyzed dozens of companies, services, and apps firsthand. From sending money between the UK, EU, US, JP, and ID, to helping friends and family transfer large amounts abroad, he combines deep personal experience with industry insight. He has worked on content and product at MoneyTransfers.com since 2019, with a focus on FX rates, transfer apps & companies, and comparison tools. His work has been featured in Forbes, Yahoo Finance, Decrypt, PoundSterling, and more.