KOHO review

The monthly fee is CAD 0 and the currency conversion fee is 0%. The card is prepaid, so money is loaded onto the account before it is spent, and holding the account costs the CAD 0 figure while converting currency costs 0%.

The currency conversion fee is 0%, which places KOHO at 1 of 237 on that measure here. The site median for conversion fees is 1% and the upper quartile reaches 2.2%, so the difference shows up on overseas and crypto spending.

It is a prepaid card on the mastercard network. A prepaid card is loaded before use, so spending follows the money already on the account rather than a bank balance held elsewhere. About 38.9% of the cards compared here run on mastercard.

Travel, virtual card and crypto all sit in the feature list, so holidays, online card numbers and crypto use run through a single prepaid card. The list is short, which keeps the account easy to read, and the card network is mastercard with the account run by KOHO Financial Inc..

The account is run by KOHO Financial Inc., the named legal entity behind the card. That is the party to look to for the terms of the prepaid account, the CAD 0 monthly fee and the 0% conversion charge, alongside the mastercard network the card uses.

The monthly fee of CAD 0 is priced in Canadian dollars, so the account is built around a Canadian market. A mastercard card carries normal network acceptance abroad, and the 0% conversion fee keeps overseas spending affordable, though the terms of the account itself are Canadian.

On the monthly fee the rivals sit at £0, £0 and €0, each in its own currency. KOHO's CAD 0 is priced in Canadian dollars, so the deciding factor is the market and currency you spend in rather than the fee line itself.

It suits people who want a single Canadian account for spending, travel and crypto, with a CAD 0 monthly fee and a 0% conversion fee. It also suits anyone who wants a virtual card beside a physical prepaid card, since virtual card sits in the feature list next to travel and crypto.