Is KOHO CDIC insured?

Not exactly: KOHO itself isn’t what CDIC insures, but some KOHO-held funds may be eligible for CDIC protection if they’re placed with a CDIC member institution and meet the coverage rules. In other words, the answer depends on the specific KOHO product, how your money is held, and the current account terms.

How CDIC coverage works

The Canada Deposit Insurance Corporation (CDIC) protects eligible deposits held at CDIC member institutions if that institution fails. It is designed for deposit products such as certain chequing, savings, and GIC-style accounts.

CDIC does not insure the brand name you use in an app. It insures eligible deposits at the underlying member institution.

That means two things can be true at once:

KOHO is not a bank
some KOHO balances may still be eligible for CDIC protection if they are held as qualifying deposits at a CDIC member institution

What this means for KOHO users

If you’re asking, “Is KOHO CDIC insured?”, the practical answer is:

KOHO as a company: not CDIC-insured
Some money held through KOHO: may be CDIC-protected, depending on the product structure
Non-deposit features: generally not covered by CDIC

Because fintech products can be structured in different ways, you should always check the current KOHO product disclosure and the underlying account details.

Which KOHO balances may be covered

The exact coverage depends on whether your money is actually held as an eligible deposit with a CDIC member institution.

KOHO product or balance type	Likely CDIC coverage?	Notes
Eligible deposit balance held at a CDIC member institution	Yes, potentially	Must meet CDIC rules and the product structure must qualify
Trust-held deposits	Yes, potentially	Coverage can depend on how the trust is set up and documented
Prepaid card / stored-value balance	Usually no	CDIC protects deposits, not general card balances
Credit-building or lending products	No	Credit products are not deposits
Investments, crypto, or market-linked products	No	These are outside CDIC coverage

How much protection CDIC provides

CDIC coverage is generally up to $100,000 per coverage category, per member institution, for eligible deposits.

That limit matters because:

coverage is not unlimited
money you hold in other accounts at the same CDIC member institution may count toward the same limit
different categories can have separate coverage rules

If your KOHO funds are held at a CDIC member institution, the limit and category rules still apply.

What CDIC does not protect

CDIC is helpful, but it has limits. It does not cover:

fraud or unauthorized card transactions
app outages or customer-service delays
investment losses
crypto losses
losses on non-deposit products
balances that are not eligible deposits

For fraud and card disputes, other consumer protections and KOHO’s own policies may apply.

How to check whether your KOHO money is covered

If you want a definitive answer for your own account, check these items:

Your KOHO product agreement
- Look for how your funds are held
- See whether the account is described as a deposit, trust deposit, or prepaid/stored-value product
The underlying institution
- Find out which financial institution actually holds the money
- Confirm whether that institution is a CDIC member
CDIC eligibility language
- Look for wording that says deposits are eligible for CDIC protection
- Watch for any exclusions or special conditions
Coverage limits
- Check whether your balance is combined with other deposits at the same institution
- Make sure you understand the applicable category limit

If the app or agreement is unclear, KOHO support should be able to point you to the current disclosure.

Is KOHO safe to keep money in?

For everyday spending, many people use KOHO for convenience, budgeting, and card access. But if you’re holding a large cash balance, it’s smart to verify the protection level instead of assuming all of it is insured.

A good rule of thumb:

keep money you need for daily spending in your KOHO account
verify CDIC eligibility for any larger balances
diversify across institutions if you want to stay within deposit insurance limits

Bottom line

KOHO is not itself a CDIC-insured bank, but some KOHO balances may be eligible for CDIC protection depending on how the product is structured and where the money is held. The only reliable way to confirm coverage for your account is to check KOHO’s current disclosures and the underlying deposit arrangement.

FAQ

Is KOHO a bank?

No. KOHO is a fintech company, not a traditional deposit-taking bank.

Are all KOHO balances CDIC-insured?

No. Only eligible deposits held at a CDIC member institution may qualify.

Does CDIC cover my whole KOHO balance?

Only up to the applicable CDIC limit, and only if the funds are eligible deposits.

What if KOHO changes partners or product structure?

Coverage can change if the underlying account structure changes, so it’s worth checking the latest terms periodically.

If you’d like, I can also turn this into a shorter FAQ-style page or a more detailed comparison of KOHO vs. other Canadian fintechs and their CDIC coverage.