KOHO Business Account Canada 2026

KOHO Business Account — Key Features

Who Is KOHO Best For?

KOHO is not a traditional business bank — it's a fintech spending account backed by a licensed Canadian financial institution and CDIC-insured. That said, it excels for a specific type of Canadian business owner:

Freelancers and Consultants

Self-employed Canadians who invoice clients and receive payment via e-Transfer or direct deposit find KOHO ideal. The spending analytics help track deductible business expenses, and the savings vaults make it easy to set aside GST/HST reserves automatically.

Sole Proprietors in the Gig Economy

Uber/Lyft drivers, Airbnb hosts, food delivery workers, and other gig economy participants benefit from KOHO's clean expense categorization. CRA increasingly scrutinizes gig income, and KOHO's transaction history is easy to export for tax filing.

Creators and Side-Business Owners

YouTubers, Etsy sellers, Instagram influencers, and part-time entrepreneurs who earn side income benefit from keeping that income in a dedicated KOHO account — separate from their personal spending, easy to track.

KOHO for GST/HST Management

One of KOHO's most practical features for self-employed Canadians is the Savings Vaults. Here's a system used by many Canadian freelancers:

• Create a vault called "GST Reserve" and set automatic transfers of 5% of every deposit
• Create a vault called "Income Tax Reserve" and auto-transfer 20–30% of income
• Your spending account automatically shows your "take-home" balance after setting aside taxes
• When GST/HST is due, transfer from vault to your account and remit to CRA

This simple system prevents the common freelancer mistake of spending tax money before it's due. CRA charges interest and penalties on late GST/HST — KOHO vaults make it almost impossible to forget.

KOHO Cash Back — Real Value for Business Spending

KOHO's cash back program applies to all purchases made with the KOHO prepaid Visa — including business supplies, software subscriptions, advertising, and professional services. At the Extra tier ($9/month), 2% cash back on all spending adds up:

• $2,000/month in business spending = $40 cash back
• $5,000/month in business spending = $100 cash back
• $100/month in business spending = $200 cash back

At $9/month for the Extra plan, a business spending $5,000+ monthly more than breaks even on the subscription cost through cash back alone. This makes KOHO Extra genuinely profitable for active business spenders.

KOHO vs. EQ Bank Business Account

Many Canadian freelancers and small business owners use both: KOHO for day-to-day spending (cash back, analytics) and EQ Bank for holding larger cash reserves (high interest). This two-account system costs $0/month and outperforms many paid business accounts.

Frequently Asked Questions