Why KOHO is #1 for Newcomers

✅

No Credit Check

Open instantly with no Canadian credit history required. New immigrants and students qualify.

⚡

Open Before You Arrive

🇫🇷

Bilingual App

Full French and English support — ideal for Francophone newcomers settling in Quebec or Ottawa.

📈

Builds Canadian Credit

Credit Score+ reports to Equifax — you start building your Canadian credit history from month one.

💰

3.0% Interest

Earn 3.0% on every dollar — far better than big bank newcomer accounts that pay near 0%.

🎁

$100 Welcome Bonus

Get $100 free with referral code 45ET55JSYA — no hoops, just make your first purchase.

How to Open KOHO as a Newcomer

Download the KOHO App

Available on iOS and Android. Works internationally — you can download and sign up before arriving in Canada.

Enter Basic Information

Name, email, date of birth, and a Canadian mailing address (even a family/friend's address works while you settle). No SIN required initially.

Verify Your Identity

Upload a photo ID — passport, driver's license, or government ID from your home country. No Canadian ID needed to start.

Receive Your Virtual Card

Within minutes, you have a virtual Visa card you can use for online purchases and Apple/Google Pay. Physical card arrives by mail within 7–10 business days.

Add Your SIN (When Available)

Once you receive your SIN from Service Canada, add it to unlock full KOHO features including interest payments and the credit building feature.

Enable Credit Score+

Activate Credit Score+ ($7/month or included with Extra plan) to start building your Canadian credit history. Reports to Equifax Canada.

📊 Building Canadian Credit with KOHO

Most newcomers start with no Canadian credit score. KOHO's Credit Score+ feature reports your account to Equifax Canada monthly. Within 3–6 months, you'll have an initial score. Within 12–18 months, many KOHO users achieve scores of 650–750+, qualifying for credit cards and apartment leases.

Month 0

Open KOHO

No score

Month 3

First score

~600

Month 6

Building

~640

Month 12

Established

~680

Month 18

Good credit

~720+

KOHO vs Newcomer Programs at Big Banks

Feature	KOHO	TD New to Canada	Scotiabank StartRight	RBC Newcomer
Monthly fee	$0	Free 1 yr, then $16.95	Free 1 yr, then $16.95	Free 1 yr, then $11.95
Credit check	None	None (first year)	None (first year)	None (first year)
Savings interest	3.0%	0.01%	0.01%	0.01%
Debit cashback	0.5–1%	None	None	None
Credit building	Credit Score+ ($7/mo)	Secured card available	Secured card available	Secured card available
After free period	Still $0	$16.95/mo	$16.95/mo	$11.95/mo
Welcome bonus	$100 (code 45ET55JSYA)	Up to $500 (promo)	Up to $300 (promo)	Varies
Open before landing	Yes	No	No	No
No SIN required initially	Yes	SIN required	SIN required	SIN required

✅ KOHO Pros for Newcomers

Open before arriving in Canada — works internationally
No credit check, no Canadian credit history needed
No SIN required to open (add later)
$0 fees forever — not just for the first year
3.0% interest vs 0.01% at big bank newcomer accounts
Credit Score+ builds Canadian credit history from day one
French-language support for Francophone newcomers
$100 bonus with code 45ET55JSYA
Works in 37 countries if you travel back home

❌ KOHO Cons for Newcomers

No physical branches — all digital
No mortgage products (need a big bank for that)
ATM fees outside EXCHANGE network
Credit building costs $7/mo (or upgrade to Extra)
Not ideal for large cash deposits (use e-transfer instead)

💡 Our Recommendation: KOHO + Simplii (or TD)

Most newcomers benefit from two accounts: (1) KOHO as your primary daily account — zero fees, 3.0% interest, cashback, and credit building; (2) Simplii Financial or TD for a secondary account — free chequing backed by a major bank, useful for direct deposit from Canadian employers and some landlords who require a "big bank" account. This two-account setup covers all bases for newcomers to Canada.

Start Your Canadian Banking Journey with KOHO

Open your account in 3 minutes — before you even land in Canada. No credit check. No SIN required. Get $100 free with referral code 45ET55JSYA when you make your first purchase.

Open KOHO — Code 45ET55JSYA (+$100) →

Newcomer Banking FAQ

Can I open a KOHO account before arriving in Canada?

Yes. KOHO's app-based account can be opened from anywhere in the world. You'll need a Canadian mailing address (a friend, family member, or your employer's address works while you're settling). The virtual card is available immediately; the physical card arrives within 7–10 business days at your Canadian address.

Do I need a SIN to open a KOHO account?

You can start the KOHO application without a SIN. However, a SIN is eventually required to receive interest payments and to use the credit building feature. Apply for your SIN at Service Canada within your first month in Canada — it's a quick process with your immigration documents.

Can KOHO help me get my first Canadian credit card?

Indirectly, yes. KOHO's Credit Score+ feature reports to Equifax Canada and builds your credit history. After 6–12 months, many newcomers qualify for their first Canadian credit card (secured cards first, then unsecured). Some Canadians start with a secured card from their bank in parallel with KOHO's credit building.

Is KOHO better than TD New to Canada program?

KOHO wins on fees (free forever vs TD's $16.95/month after year one), interest (3.0% vs 0.01%), cashback on debit, and the ability to open before arriving. TD's program wins on branch access, mortgage products, and some newcomers prefer the security of a Big 5 bank. Many newcomers use both.

Does KOHO have French-language support?

Yes. KOHO's mobile app and customer support are available in both French and English. This makes KOHO an excellent option for Francophone newcomers settling in Quebec, Ottawa, Moncton, or other French-speaking communities.

KOHO for Newcomers to Canada 2026