Compared to most credit cards that charge anywhere from 2-3% in foreign transaction (FX) fees, you’ll only be charged 1.5% on non-Canadian transactions with your KOHO card.
These fees do not bring us any profit. They are the fees we’ve negotiated with our partners to offer the best and lowest rate possible when using your KOHO card outside of Canada 🌎
Pro-tip: You can avoid these charges by signing up for a KOHO Extra or KOHO Everything account - Extra and Everything users do not pay FX fees on non-Canadian transactions 💎
Why does KOHO charge a foreign exchange fee?
When you make a purchase in a foreign currency, KOHO processes the transaction through international payment networks and banking partners. Those partners charge currency conversion and processing fees, and the foreign exchange fee cover those costs associated with processing international transactions.