So, it’s an add-on to my existing KOHO account?

To take advantage of earning 1.2% interest* on your entire KOHO balance, we’ll open a new account for you with our Service Provider, ShareOwner. We’ve worked closely with ShareOwner to make sure that this is a seamless experience that you can do with a few clicks within your KOHO app.

If you already receive recurring direct deposits to KOHO, you'll be able to opt-in within your app to get this added feature. Your other account features (e.g. cash back and account fees for Premium) won’t change.

For users that don't have a recurring direct deposit with KOHO, you'll have to get that set-up first!

How do I opt-in?

To opt-in, simply click on the "earn interest"* home card in-app > Tap on Start earning today > complete the confirmation of information > and agree to the terms and conditions.

Why an opt-in? What additional info will you need from me?

As part of financial regulations, we’ll require your Social Insurance Number (SIN) to open the account, as well as a few other minor things. If you choose to opt-in within the app, we'll ask for this additional information during the sign up process. 

ShareOwner requires your SIN for tax reporting purposes. Since interest* is a form of income, you’ll need to report it during tax time. ShareOwner will provide the forms and these will be available to download in your KOHO app.

How do I know if my opt-in was successful?

To confirm whether your registration was successful, tap on See total balance from the top of the home page. If you're enrolled in KOHO Save, then you should see an upwards arrow ↑ next to your total balance, and it'll also say EARNING 1.2% underneath!

Does this mean I have 2 accounts with KOHO?

For your day to day usage you will spend and save seamlessly, and you’ll see all of your money in one place in your app. You still have only one account with KOHO for all of your spending, but your money will now be held by Canadian ShareOwner Investments Inc. (ShareOwner). 

Once you sign up for KOHO Save, all the money in your KOHO account will earn interest* and you can still spend from it to make your purchases. 

Are there any additional fees to use this feature?

Nope! There are no account opening, account closing, moving money, or e-Transfer fees. There’s no minimum balance either.

How do I load my account?

To be eligible for this feature, you will need to have direct deposit set-up to KOHO, but you can still load your account the same way you always do, through e-Transfer, direct deposit, or Visa Debit.

*Interest rates are per year, calculated daily, paid monthly, and
can change at any time without notice

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