Moving to Canada was a giant step for someone like me. Like many newcomers, I arrived with big hopes and plenty to figure out—especially when it came to managing my finances in a new country. On top of daily budgeting, I also had to find a way to send money back home without excessive fees or complicated processes.
In this review, I will share my experience using KOHO’s new international money transfer feature, break down how it works, and explain why it’s a practical solution for my financial needs. I’ll also highlight how newcomers to Canada can benefit from it, especially those who need an affordable and seamless way to send money abroad.
KOHO’s International Money Transfer
KOHO, a financial app and fintech company, has recently added international money transfers to its lineup, and this upgrade couldn’t have come at a better time. I already use KOHO for day-to-day spending and saving, but sending money to my family overseas is easier with the new money transfer feature.
KOHO’s new international money transfer feature allows users to send money to over 50 countries, including the U.S., India, Nigeria, and the Philippines. The transfers are powered by a secure partner (Wise) and are fully integrated into the KOHO app, requiring no extra accounts or logins.
What really stood out to me was how transparent the process is. You see exactly what the exchange rate is, how much your recipient will get, and what fee you’re paying (if any), all before confirming the transaction. There are no surprises. Plus, you get these benefits as well:
- Competitive exchange rates
- No markups or hidden fees
- Fast transfers (typically within 30 minutes)
- Real-time tracking via the app
- No third-party account needed
- All transactions are tracked within the KOHO app for easy monitoring
If you’re supporting loved ones abroad, this KOHO feature offers genuine peace of mind. With its streamlined login experience, you can send money to your loved ones abroad without unnecessary hassle. To access this new feature, you must be enrolled in a KOHO plan.
In sending money abroad, follow these very simple steps:
- Sign in to the app.
- Choose an amount to send.
- Add your recipient’s banking details.
- Send.
As you can see, the process is clear, straightforward, and takes about a minute. Transfers are completed promptly with no hassle. And since it’s part of the KOHO platform, it fits right into my regular budget and spending routine.
KOHO Prepaid Mastercard
$40 welcome bonus after first purchase (use GETCASH promo code during sign-up)
$0 monthly fee*
Earn up to 5% unlimited cash back
Get up to 3.50% savings interest on your balance
Unlimited Interac e-Transfers and debit transactions
Low cost international money transfers
Free budgeting app and access to credit building
What KOHO Offers
What I’ve come to appreciate most about KOHO is how much it does in one place. As someone still adjusting to Canada’s financial system, I didn’t want to deal with different apps or pay monthly fees just to manage my money. KOHO provides everything necessary to streamline my finances:
- Cash Back: KOHO lets me earn up to 2% real cash back on everyday purchases, such as groceries, gas, and transit.
- Savings Tools: KOHO offers features like RoundUps, which round up my purchases and set aside the extra change in a savings account. I can also earn interest without having to lock my money away.
- Budgeting: The app helps me track my spending in real time and sets limits for different categories so I don’t overspend.
- No or Low FX Fees: KOHO also helps me save when I travel or shop online from international sites. The app offers reduced or waived foreign transaction fees, thanks to KOHO’s low or waived foreign transaction fees (depending on the plan chosen).
- Credit Building: As a newcomer in Canada, it can be tough to build your credit. But KOHO makes this possible through its Credit Building tool, which I’ve been working on to improve my credit score.
- Credit Score Monitoring: KOHO lets me check my credit score directly on the app without paying extra for the service.
What makes KOHO different is how simple and user-friendly it is. It doesn’t require you to have a finance degree to figure it out. It’s designed to help both new immigrants and newcomers succeed financially.
Why KOHO Works for Newcomers
One of the toughest challenges for newcomers and new immigrants to Canada is navigating its financial system. Traditional banks often come with complicated account requirements, hidden fees, and services scattered across multiple platforms, which makes the process even more overwhelming.
With KOHO, you get everything simplified through its all-on-solution, which eliminates the need for multiple financial or banking apps and tools. And because KOHO combines essential financial features—spending, saving, budgeting, credit building, and recently, international money transfers—you can manage everything seamlessly within the KOHO app.
In other words, KOHO is an all-in-one financial app that covers most of your money needs. For newcomers, this signifies more convenience and less hassle. There’s no need to learn various systems or worry about handling different accounts. Alternatively, KOHO offers straightforward, no-nonsense tools that make financial management simple.
KOHO Plans
KOHO offers different plans—Essential, Extra, and Everything—so you can choose the one that matches your needs. The Essential plan is free and includes basic spending features and budgeting tools. If you upgrade to the paid plans, you unlock extras like higher cashback, no FX fees, faster credit building, and now, full access to international transfers at lower costs.
Personally, I started with the free plan and later upgraded to get more out of the service. Even the premium plans are priced fairly, especially compared to what I used to pay in bank fees. When you sign up using this link, you get a $40 welcome cash bonus (use GETCASH referral code).
Here’s a breakdown of the features for each plan:
Essential
- Costs $0 per month*
- Unlimited 1% cash back on groceries, transportation, and food & drinks
- Unlimited transactions
- Free real-time e-transfers
- Lets you withdraw and deposit cash at anytime
- Savings goals + Roundups
- Free credit score
- Cash advance
Extra
- Costs $12 per month (paid annually)
- Unlimited 1.5% cash back on groceries, transportation, and food & drinks
- Unlimited transactions
- Savings goals + Roundups
- Free real-time e-transfers
- Lets you withdraw and deposit cash at anytime
- 30% discount on the KOHO Credit Building Tool
- Free credit score
- Cash Advance
- No foreign transaction fees
- Travel insurance add-on
Everything
- Costs $14.75 per month (paid annually)
- Unlimited 2% cash back on groceries, transportation, and food & drinks
- Unlimited 0.5% cash back on everything else
- Spending insights
- Lets you withdraw and deposit cash at anytime
- Unlimited transactions
- Savings goals + Roundups
- Free real-time e-transfers
- Priority support
- 50% discount on the KOHO Credit Building Tool
- Free credit report
- Free credit score
- Cash advance
- No foreign transaction fees
- No international ATM fees
- Travel insurance add-on
All KOHO plans come with a free 30-day trial.
Conclusion
KOHO isn’t just a simple financial app or a money transfer service—it’s an all-in-one platform that helps newcomers like me build a strong financial foundation in Canada. With the new international money transfer feature added to a lineup that already includes savings, budgeting, cashback, credit building, and more, KOHO has become my go-to tool for everything money-related.
For newcomers looking for a straightforward, affordable way to manage their finances and send money home with no hassle, KOHO is definitely worth exploring.
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