A common question we get is whether or not KOHO is CDIC insured. The short answer is that when you opt in to Earn Interest, your funds are protected by CDIC.
The Canada Deposit Insurance Corporation, or CDIC, is a Crown Corporation that provides deposit insurance for eligible deposits held at CDIC member institutions in case of a member institution’s failure. While KOHO is not a CDIC member institution, when you opt-in to Earn Interest, your KOHO balance is held in trust with one or more CDIC member institutions. CDIC insures eligible deposits held in trust up to $100,000 per beneficiary, per member institution, provided that KOHO meets certain disclosure requirements. For more information visit cdic.ca. We completely understand that you want to make sure your funds are safe with us. KOHO itself is not CDIC insured, but in the unlikely event that KOHO fails, your funds will be returned to you by our partners who hold your funds.
Just a heads up: KOHO accounts not earning interest are not eligible for CDIC protection.
Are Accounts Earning Interest* CDIC Insured?
Yes! While KOHO is not a CDIC member institution, all cash balances from your account(s) earning interest* are held in trust with one or more CDIC member institutions.
The Canada Deposit Insurance Corporation, or CDIC, is a Crown Corporation that provides deposit insurance for eligible deposits held at CDIC member institutions in case of a member institution’s failure. CDIC insures eligible deposits held in trust up to $100,000 per beneficiary, per member institution, provided that KOHO meets certain disclosure requirements. For more information visit cdic.ca.
*Interest rates are per year, calculated daily, paid monthly, and
can change at any time without notice