Does KOHO have hidden fees?

Understanding how KOHO makes money and which fees you might pay is key to deciding if it’s right for you. KOHO promotes itself as a low-fee, transparent alternative to traditional banks—but that doesn’t mean everything is completely free. The good news is that KOHO is generally upfront about its pricing, and “hidden fees” in the sneaky, surprise sense are rare if you understand the terms.

Below is a clear breakdown of how KOHO fees work, where you might run into costs, and how to avoid unexpected charges.

Is KOHO really free?

KOHO offers a free core account, but it also has paid plans and optional services that cost money. You can absolutely use KOHO with minimal or no fees if you:

Stick to the free plan (if still available in your region)
Avoid optional premium features
Stay within standard usage limits

However, KOHO can charge fees for things like:

Monthly subscription (on paid plans)
Cash withdrawals at ATMs (depending on the ATM)
Foreign transaction/FX markups in some situations
Replacing your physical card (in specific cases)
Certain advanced features (e.g., credit building, overdraft-like tools, or premium rewards)

These are not “hidden” in the sense of being undisclosed—but they can feel unexpected if you don’t read the plan details.

KOHO plans and monthly fees

KOHO typically offers different account tiers. Names and pricing can change, but they usually fall into two categories:

Free or basic plan
Paid or premium plans

Free/basic plan

Monthly fee: $0
Features:
- Prepaid Visa or Mastercard
- Spending via card or mobile wallet
- Basic spending insights
- Some cashback (usually lower than premium)
Who this suits: Users who want a no-fee everyday spending account and don’t need advanced perks.

There are generally no hidden monthly charges here. If KOHO still offers this tier in your area, you can genuinely use it without paying a subscription fee.

Paid/premium plans

Names and exact benefits vary (e.g., KOHO Extra, KOHO Premium, or similar), but typically you get:

Monthly fee: A fixed subscription cost
Extra benefits, such as:
- Higher cashback rates
- Better foreign transaction conditions
- Additional financial insights
- Priority support
- Sometimes extra perks like free credit score access

The monthly fee is clearly advertised and charged automatically, so it isn’t hidden—but it can be easy to forget about if you don’t use the benefits regularly. Always confirm the current price and features in the app or on KOHO’s website, as they can change.

ATM fees and cash withdrawals

KOHO doesn’t usually charge its own fee just for using an ATM, but you can still face costs when withdrawing cash.

Domestic ATM withdrawals

KOHO’s side: Often $0 fee from KOHO itself.
ATM operator fees: The machine owner can charge a convenience fee (e.g., $2–$4).
- This is not a KOHO fee, but it will appear on your statement.
- You usually see a warning on the ATM screen before confirming the withdrawal.

International ATM withdrawals

When using KOHO abroad:

ATM operator fees: Common in many countries.
Conversion/FX costs:
- If KOHO applies an FX markup, it will be part of the exchange rate.
- Some premium plans reduce or waive FX fees, or offer better rates.
Local currency choice:
- If the ATM offers to convert to your home currency (“dynamic currency conversion”), that option often costs more.
- Choosing to be charged in the local currency usually leads to better rates.

None of this is truly hidden, but it’s easy to misunderstand. To avoid surprises, treat ATM operator fees and FX markups as separate from KOHO’s own pricing.

Foreign transaction and FX fees

KOHO is marketed as travel-friendly, and many users rely on it for international spending. However, FX costs can still exist.

How FX fees typically work

FX markup (spread):
- Instead of a separate “foreign transaction fee line item,” KOHO may build its fee into the exchange rate you receive.
- This means you won’t see “3% foreign fee” written on the statement, but you effectively pay it via a less favourable rate.
Plan-dependent FX:
- Some plans offer reduced or zero FX markups on foreign purchases.
- Free/basic plans may have higher FX costs compared to premium plans.

How to avoid feeling “surprised”

Check your plan’s FX policy in-app before travelling.
Compare KOHO’s rate with the mid-market rate (e.g., via XE.com) to understand the markup.
Consider upgrading for the time you’re travelling if your premium plan waives or lowers FX fees.

Card replacement and physical card fees

KOHO usually provides a physical card with your account. Fees here can include:

Initial card: Typically free when you sign up.
Replacement cards:
- If your card is lost or stolen, KOHO may charge a replacement fee after a certain number of replacements or under specific conditions.
- Express shipping or special delivery options may cost extra.

These fees are usually disclosed in the account’s fee schedule rather than advertised on the homepage, which is why they can feel “hidden” if you don’t review that document.

Optional services that cost extra

KOHO offers add-ons that are not mandatory but can be very helpful. They usually come with clear, separate pricing.

Credit building tools

Many users sign up for KOHO to build or repair credit. KOHO may offer:

Monthly-fee credit building products, such as:
- A credit-building line or program that reports to credit bureaus.
How fees work:
- A fixed monthly subscription, separate from your regular KOHO plan.
- Fees are shown in the app when you subscribe and in the terms.

These fees are not hidden, but if you forget you signed up, recurring charges can be surprising. Always check the “Subscriptions” or “Services” section in your KOHO app.

Overdraft-like features or cash advances

Some KOHO products mimic overdraft or short-term advance features (names may vary). They might include:

Access to a small amount of money before payday
Fees or interest in some situations
Conditions for repayment

KOHO generally outlines these terms clearly, but they may be buried in the product description and legal documents rather than front-and-centre in marketing materials. Read the terms before using any advance feature.

Inactivity, transfer, and other less visible fees

Compared with traditional banks, KOHO tends to have fewer miscellaneous fees, but you should still be aware of potential charges such as:

Inactivity fees

Some fintechs charge if you don’t use your account for a long period; KOHO’s policy can change over time.
If KOHO implements or changes an inactivity fee, it should be disclosed in the terms and updates.

Interac e-Transfers and funding

KOHO typically allows you to:

Fund your account via e-Transfer, direct deposit, or linked bank accounts.
In many cases, these are free—but:
- Certain types of transfers or limits may trigger fees.
- Some features (like instant load from a credit card) may include a fee or interest-like charge.

Always look at the specific fee schedule in the KOHO app or official website for current details.

Are KOHO fees “hidden” compared to regular banks?

Compared to many traditional banks, KOHO is relatively transparent:

No standard monthly fee on free/basic plans.
No typical bank charges like NSF (non-sufficient funds) fees for bounced payments on a regular chequing account, since KOHO is a prepaid model and doesn’t usually allow you to go negative in the same way.
Simplified fee structure vs. long, complex banking fee tables.

However, fees can feel hidden when:

You don’t realize you’re on a paid/premium plan.
You forget you subscribed to an optional service like credit building.
FX costs are embedded in the exchange rate instead of a line-item fee.
ATM operator surcharges are mistaken for KOHO fees.

The key is that KOHO’s fees are usually disclosed in the plan details and legal documents, but they may not be obvious from marketing headlines alone.

How to check KOHO fees and avoid surprises

To make sure KOHO stays low-cost for you:

Review your current plan
- Open the KOHO app and confirm which plan you’re on.
- Note the monthly fee (if any) and main perks.
Read the official fee schedule
- Find the “Fees” or “Legal” section on KOHO’s website or in-app.
- Look for:
  - ATM usage
  - FX/foreign transaction details
  - Card replacement
  - Optional services (credit building, etc.)
Monitor subscriptions and add-ons
- Check if you’ve enrolled in:
  - Credit building plans
  - Premium plan upgrades
  - Any trial periods that may auto-renew
Track foreign spend
- When travelling, compare KOHO’s rates versus mid-market rates to understand FX markup.
- Avoid ATMs with high operator fees when possible.
Watch your statements
- Review monthly statements to quickly spot any unexpected recurring charges.
- If something looks off, contact KOHO support directly for clarification.

Bottom line: Does KOHO have hidden fees?

KOHO does not typically rely on deceptive “hidden” fees, but it does have:

Clear subscription fees for premium plans
Potential FX costs built into exchange rates
ATM operator fees (charged by the machine, not KOHO)
Charges for card replacement and optional services like credit building

If you take the time to review your plan and the fee schedule, KOHO can be very close to “no hidden fees” in practice. Most unexpected charges arise when users:

Upgrade plans without realizing the ongoing cost, or
Use features (like foreign spending or ATM withdrawals) without understanding how fees apply.

For the most accurate and up‑to‑date information, always check KOHO’s official website or app, as fees, plans, and terms can change over time.