Monvo vs KOHO
How Monvo compares to KOHO
A Canadian fintech spending account with a prepaid Mastercard. Cash back on everyday spending, interest on your balance, and credit building tools.
What KOHO does well
KOHO pays you for money you were going to spend anyway. Up to 2% cash back on groceries, eating out, and transportation on the Everything plan. It pays interest on your whole balance, up to 3.5% on the top plan. You get a free credit score, credit building tools, and a 30-day free trial on every plan. If you want your daily spending to earn something back, KOHO is a solid pick.
Where Monvo is different
KOHO is a place to keep and spend money. It rewards you for spending well. It does not look at your full picture: your other bank accounts, your investments, the idle cash sitting at a big bank earning nothing. And it does not tell you the move. Monvo does not hold your money at all. It reads it, across every account, and advises on it.
| Feature | Monvo | KOHO |
|---|---|---|
| Tells you the specific move to make | Yes, dollar-figure recommendations | No, it rewards and organizes spending |
| Built for Canadian accounts (TFSA / HISA / GIC / FHSA) | Yes | No, it is a spending account, not registered-account advice |
| Subscription detection | Yes | Not advertised |
| Holds your money | No, read-only | Yes, prepaid spending account |
| Price | Free, or CA$15/mo (CA$12/mo billed annually) for more accounts and automation | Essential $0/mo*, Extra $12/mo, Everything $14.75/mo (*conditions apply) |
| Try without connecting a bank | Yes, calculator or statement upload | You sign up for the account directly |
Common questions
Is KOHO a budgeting app?
Not really. KOHO is a spending account with cash back and interest. It helps you spend smarter and save a little on autopilot. It does not analyze your whole financial life or recommend specific money moves.
How much does KOHO cost?
Essential is $0/mo with recurring direct deposit conditions, Extra is $12/mo, and Everything is $14.75/mo. All plans come with a 30-day free trial.
Can I use KOHO and Monvo together?
Yes. KOHO handles your daily spending. Monvo watches everything, including the accounts KOHO cannot see, and tells you what to do with what it finds.
Does KOHO find subscriptions?
KOHO does not advertise subscription detection. Monvo flags recurring charges and forgotten subscriptions automatically, across all your connected accounts.
Is KOHO a bank?
No. KOHO is a fintech. Deposits are held in trust with CDIC member institutions, so eligible deposits get CDIC protection up to $100,000 when you opt into the Earn Interest feature.
Does KOHO help with TFSA or FHSA decisions?
No. KOHO pays interest on your KOHO balance, but it does not advise on registered accounts or where your money should go. Monvo is built for exactly those decisions.
See what Monvo tells you, free
No login needed. Drop in a few numbers and see what your money is quietly costing you.
Feature comparisons reflect our understanding of KOHO as of publishing and may change. See something inaccurate? Let us know.