KOHO Reviews, Fees & Requirements

If you regularly struggle to keep your bank account balance above zero, you may be charged non-sufficient funds (NSF) fees more often than you’d like. These fees can really add up, especially if you frequently dip into negative territory.

Fortunately, KOHO Cover is an affordable solution by providing interest-free cash advances instantly, helping you bridge any financial gaps you experience without incurring ongoing fees.

With just a small monthly subscription, you can avoid those pesky NSF fees.

Is KOHO Cover Right For You?

KOHO Cover could be a good fit for you if:

You come up short before payday: KOHO Cover gives you an instant, interest-free cash advance of up to $500 to cover shortfalls and avoid NSF or overdraft fees.
Your credit or income has held you back: There is no credit check and no proof of income required, so approval is open to everyone with a KOHO account.
You want a small, predictable cost: You pay a monthly subscription fee starting at $2 to keep accessing the funds, with no interest and no penalties or late fees.
You don’t want to track repayment dates: You only repay the borrowed amount if you cancel your subscription, and repayment happens automatically from deposits to your KOHO Spendable account.

What Is KOHO Cover?

KOHO Cover is a feature offered by KOHO that provides consumers with access to extra cash when needed. With KOHO Cover, you can get an instant, zero-interest cash advance to cover various expenses without risking overdraft or declined transactions. This feature is designed to help cover financial shortfalls without the sky-high interest rates that typically come with payday loans and credit card cash advances.

KOHO Cover Overview

KOHO Cover

Cash advance: Up to $500*
Interest: 0%
Fees: From $2/month
Credit check: None

Available inCanada wide

Costs, repayment & eligibilityUpdated Oct 2026

What it costs

From $2/monthCover bundle subscriptionKOHO account required to access Cover bundle.

Example

$0 interestGet a $200 cash advance and repay $200, plus your Cover subscription

How it works

Product type: Interest-free cash advance, only available through the Cover bundle
Bundle includes: Cash advance, free credit report, financial coaching from an in-house KOHO coach, and Fast Lane support
Funding time: Instant
Proof of income: Not required
Eligibility: KOHO account with a Cover subscription

Features

Cash advance of up to $500*
No interest charged
Doesn't affect your credit scores
Free credit report included
Financial coaching from an in-house KOHO coach
Instant access to funds

*Eligibility criteria and Terms and Conditions apply. Amounts and fees as of October 2026. Check KOHO's website for current terms.

How Does It Work?

Once you subscribe to KOHO Cover bundle, you’ll receive a one-time lump sum of your chosen limit. This amount will be added to your KOHO account right after you enroll in the program. You can then use these funds for purchases, paying bills, or setting up automatic payments.

As a subscription-based service, you’ll be charged a monthly subscription fee, which allows you to continue using the funds you already received when you registered as many times as you want. If you cancel your subscription, you must pay back the borrowed amount.

KOHO Cover Features

KOHO Cover offers several features that allow you to access quick cash:

Instant Cash Advance: Get immediate access to funds through the KOHO app.
No Interest: You don’t have to pay any interest on the funds borrowed.
Guaranteed Approval: No credit checks are required, so you can apply with bad credit and still get approved.
Flexible Repayment: Pay back the cash advance at any time, so long as you keep up with the subscription fee payments.
No Penalties or Late Fees: KOHO does not charge any penalties or late fees for non-repayment. However, if you don’t repay the money, you may not be able to use KOHO Cover in the future.
Financial Coach: Get access to KOHO’s in-house Financial Coach for customized financial advice.
Free Credit Report: When you subscribe, you’ll also get a free credit report, so you can see where you stand.

Cost Of KOHO Cover

As mentioned, there is a monthly subscription fee associated with KOHO Cover. The amount you pay is based on your Cover limit. Not only does this fee provide you with access to a cash advance, but it also allows you to access KOHO’s certified, in-house Financial Coach.

KOHO Cover subscription fees start at $2 per month.

Are You Eligible For Cover?

Everyone is eligible for KOHO Cover. There are no credit or income requirements. However, you must open a KOHO account before you can sign up for KOHO Cover bundle. Once you sign up, you’ll receive instant access to funds up to a $500 credit limit.

How To Apply For KOHO Cover

Signing up for KOHO Cover is easy. Just follow these steps:

Step 1: Open A KOHO Account

If you don’t already have a KOHO account, you’ll first need to open one.

Open account

KOHO Core Account

Account fee: $0
Interest earned: Up to 2%
e-Transfers: Free
FX fees: 1.5%

Cash back, fees & featuresUpdated Oct 2026

Cash back

Up to 1%Unlimited cash back on groceries, transportation, and food and drink
Up to 6.5%Extra cash back with select merchants

Fees & access

Transactions: Unlimited
ATM fees: May be charged a $2–$3 out-of-network fee
Deposit insurance: Accounts earning interest are eligible for CDIC deposit protection
Available in Quebec: Yes
Referral program: Yes

Extra features

Free in-app credit score
Credit Building for $10/month
Joint accounts available
International money transfers
No NSF fees

Rates and fees as of October 2026. Actual interest may vary depending on your KOHO Account plan. Interest Rate is subject to change without prior notice. Interest is per annum calculated daily but paid monthly. Actual Cash Back may vary depending on your KOHO Account plan or merchant. Cash back rate and merchants subject to change. Terms and Conditions apply. Check KOHO's website for current terms.

Open account

KOHO Extra Account

Account fee: $18/month
Interest earned: Up to 2.5%
e-Transfers: Free
FX fees: None

Cash back, fees & featuresUpdated Oct 2026

Cash back

Up to 1.5%Unlimited cash back on groceries, transportation, and food and drink
Up to 0.25%Unlimited cash back on all other purchases
Up to 6.5%Extra cash back with partners

Fees & access

Transactions: Unlimited
ATM fees: May be charged a $2–$3 out-of-network fee
Deposit insurance: Accounts earning interest are eligible for CDIC deposit protection
Available in Quebec: Yes
Referral program: Yes

Extra features

Free in-app credit score
30% discount on Credit Building
Joint accounts available
International money transfers
No NSF fees
1 free ATM withdrawal outside Canada each month

Open account

KOHO Everything Account

Account fee: $22/month
Interest earned: Up to 3.5%
e-Transfers: Free
FX fees: None

Cash back, fees & featuresUpdated Oct 2026

Cash back

Up to 2%Unlimited cash back on groceries, transportation, and food and drink
Up to 0.5%Unlimited cash back on all other purchases
Up to 6.5%Extra cash back with partners

Fees & access

Transactions: Unlimited
ATM fees: May be charged a $2–$3 out-of-network fee
Deposit insurance: Accounts earning interest are eligible for CDIC deposit protection
Available in Quebec: Yes
Referral program: Yes

Extra features

Free in-app credit score
Free credit report
50% discount on Credit Building
Joint accounts available
International money transfers
No NSF fees
1 free ATM withdrawal outside Canada each month

Now that you have opened a KOHO account, you can register for the KOHO Cover feature, which you can do either in-app or on the KOHO website:

In-app: On the bottom of the home page, select “Cash advance” and “Get Cover Bundle”.

Then, follow the prompts to register for the Cover subscription, which will provide you with access to extra cash and a financial coach.

Step 3: Choose Your Coverage Amount

Decide how much coverage you need, up to the eligible limit.

Step 4: Access Your Money

You’ll receive a lump sum of money equal to your chosen limit. Keep in mind that your Cover balance will be kept separate from your Spendable amount to help you better manage your money.

How Can I Increase My Cover Limit?

KOHO will let you know once you qualify for an increase to your credit limit. You can boost your chances of a credit limit increase by regularly using your KOHO Spendable account and paying your subscription fees on time every month.

When Do You Have To Repay KOHO Cover?

You can repay your KOHO Cover amount at any time. Repayment schedules are very flexible. All you have to do is continue making your monthly subscription fees to continue accessing your credit amount. You’ll only be required to repay the amount you borrow if you stop paying these monthly fees and cancel your subscription.

How Do You Repay KOHO Cover?

You don’t have to make a specific payment to repay KOHO Cover. Instead, all you have to do is add money to your KOHO Spendable account, and KOHO will automatically deduct what you owe from this account. In other words, you repay KOHO Cover with deposits you make to your KOHO account.

What Customers Say

KOHO Cover itself doesn’t seem to have any online reviews. However, KOHO as an overall financial platform has some reviews available online:

4.5

Trustpilot, 2.5k reviews

4.5/5 stars.

BBB letter rating

Not accredited.

4.3

Google Play

4.3/5 stars.

4.8

App Store

4.8/5 stars.

Is KOHO Registered?

KOHO is a financial technology company, not a bank. Your money is held with partner financial institutions.

Business registrationKOHO Financial Inc. is an active federal corporation (No. 1035387-6) registered with Corporations Canada.Verified

Deposit protectionCash in accounts earning interest is held in trust with one or more CDIC member institutions, insured up to $100,000 per beneficiary, per member institution. KOHO itself is not a CDIC member.Verified

Payment service providerKOHO says it became a registered payment service provider with the Bank of Canada under the Retail Payment Activities Act in November 2025.Registered

KOHO accounts that are not earning interest are not eligible for CDIC protection, so opt in to Earn Interest if deposit insurance matters to you.

Can KOHO Cover Affect My Credit Score?

No, KOHO Cover does not impact your credit score, neither positively nor negatively. There are no credit checks involved, so your credit won’t take a hit.

However, any loans that remain outstanding for over 3 months may be reported to the credit bureaus. If this happens, your credit score could be affected. As long as you keep your account in good standing, your credit score should not be affected.

How KOHO Cover Compares

**Cash advance apps in Canada** Amounts, fees and availability as of October 2026.
Lender	Product	Interest Rate	Amount	Fees	Availability	Apply
Bree	Cash advance line of credit	0%	Up to $750	No mandatory feesOptional fee for express delivery	Canada wide	Apply
Nyble	Credit building line of credit	0%	Up to $250	FreeOptional $11.99/month membership fee with added perks	Canada wide Features vary by province	Apply
KOHO Cover	Cash advance	0%	Up to $500**Eligibility criteria and Terms and Conditions apply.	Starting at $2/monthCover bundle subscription; KOHO account required	Canada wide	Sign up
Spark Access	Loan	28.9%About 29.9% APR with the $1 access fee. May drop as you unlock bigger loans	$100 – $2,500On-time payments unlock higher amounts	One-time $1 access feeOptional Spark Plus: $9.99 bi-weekly	BC AB SK MB ON NS PEI YT NT NU

Final Thoughts

KOHO Cover can serve as a handy and affordable alternative to overdraft and NSF fees if your bank account comes up short from time to time. With instant, interest-free cash advances, you can tap into your account when the financial need arises without tacking on additional and unnecessary fees.

KOHO Cover FAQs

Can I cancel my KOHO Cover subscription?

Yes, you can cancel your KOHO Cover subscription at any time in the KOHO app. However, keep in mind that KOHO will automatically collect the Cover funds once the subscription ends. Otherwise, you can repay the funds in the KOHO app.

What happens if I miss my subscription fee payment?

If you miss your KOHO Cover subscription fee, your subscription will be cancelled.

Is KOHO Cover safe?

Yes, KOHO Cover is safe. KOHO uses robust security systems and offers tools such as virtual cards and card-locking capabilities in the app to keep your account safe.

Where can I find my KOHO Cover balance?

You can see your KOHO Cover funds in the app. KOHO separates your Spendable and Cover balances so you can see exactly where your money is.

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KOHO 2026 Reviews, Fees & Requirements

Is KOHO Cover Right For You?

What Is KOHO Cover?

KOHO Cover Overview

What it costs

Example

How it works

Features

How Does It Work?

KOHO Cover Features

Cost Of KOHO Cover

Are You Eligible For Cover?

How To Apply For KOHO Cover

Step 1: Open A KOHO Account

Cash back

Fees & access

Extra features

Cash back

Fees & access

Extra features

Cash back

Fees & access

Extra features

Step 2: Sign Up For KOHO Cover

Step 3: Choose Your Coverage Amount

Step 4: Access Your Money

How Can I Increase My Cover Limit?

When Do You Have To Repay KOHO Cover?

How Do You Repay KOHO Cover?

What Customers Say

Is KOHO Registered?

Can KOHO Cover Affect My Credit Score?

How KOHO Cover Compares

Final Thoughts

KOHO Cover FAQs

Can I cancel my KOHO Cover subscription?

What happens if I miss my subscription fee payment?

Is KOHO Cover safe?

Where can I find my KOHO Cover balance?

Cash Advance

Cost And Transparency

Terms And Funding

Access And Eligibility

Trust And Compliance

Customer Experience

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