Where is my money being held?
As a user of the KOHO Save feature, we’ll open an account for you with Canadian ShareOwner Investments Inc. (ShareOwner). ShareOwner is a member of the Investment Industry Regulatory Organization of Canada. Customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.
ShareOwner deposits your money in trust for you at an account with one or more federally regulated, Schedule 1 banks. The accounts at these banks are not covered by Canadian Deposit Insurance Corporation.
What happens to my money in the unlikely event that KOHO goes out of business?
Your funds are transferred by ShareOwner to a large, federally regulated, Schedule 1 Canadian bank.
Your money is held in an account at these banks in your name at ShareOwner. In the unlikely event that KOHO were to go out of business, your money will remain with ShareOwner.
How do you make money on this product?
We earn a small referral fee for making a referral to our Service Provider, ShareOwner. This fee does not come out of the 2%* interest that you earn on your balance.
*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.