Wise vs KOHO: Account, card and fees in 2026
If you’re in Canada and need a way to manage your money internationally, you may be comparing Wise and KOHO. Wise offers multi-currency accounts and cards, while KOHO offers CAD accounts, prepaid cards and international money transfers. KOHO’s international transfers are available on all three plans, including Core, its free plan.
Join us as we explore Wise and KOHO features and fees to help you decide which suits your needs. This guide compares accounts, cards and transfers, along with payment methods, limits and customer support.
Summary: Both providers offer international transfers and cards for spending abroad. Wise supports multi-currency balances, while KOHO combines a CAD account with cashback, interest and three plans: Core, Extra and Everything. International money transfers to 190+ countries are available on every KOHO plan, including Core at $0/month. Core charges a 1.5% foreign transaction fee on foreign-currency card spending; Extra and Everything have no foreign transaction fees.
Wise may suit you if you need to hold and manage multiple currencies. KOHO may suit you if you want a CAD account with cashback and international transfers available without a paid subscription. Compare the total transfer cost and expected delivery time for your destination before choosing either provider.
Wise vs KOHO: Comparing side by side
Wise and KOHO offer different combinations of account features, rewards and pricing. Here is an overview for customers in Canada.
| Feature | Wise | KOHO |
|---|---|---|
| Account options | Personal and business accounts, subject to eligibility. | Core, Extra and Everything personal plans. |
| Account subscription | No monthly subscription. A setup fee applies to unlock all Wise Business features. | Core: $0/month. Extra: $18/month or $144/year. Everything: $22/month or $177/year. |
| Currencies held | 40+ currencies, including CAD. | CAD. |
| Payment card | Wise debit card. | Prepaid Mastercard. |
| Cashback on purchases | No standard category cashback programme comparable to KOHO’s rewards. | Cashback rates depend on the plan and purchase category. |
| International money transfers | Available. Check supported destinations and currencies when requesting a quote. | Available to 190+ countries on all plans, including free Core. |
| Foreign-currency card spending | No separate foreign transaction fee. Conversion charges apply when currency conversion is needed. | Core: 1.5% foreign transaction fee. Extra and Everything: no foreign transaction fees. |
All subscription prices shown are in CAD. Annual subscriptions are alternatives to monthly billing.
So, to summarise:
- Wise offers personal and business account options.
- KOHO offers three personal plans, including Core with no monthly subscription.
- Wise supports multi-currency balances; KOHO holds CAD.
- Both providers offer payment cards for international spending.
- KOHO offers cashback based on the plan and purchase category.
- Both providers offer international money transfers. A paid KOHO subscription is not required.
The important bits
Here are the main differences in international transfer pricing, account costs and delivery times.
| Feature | Wise | KOHO |
|---|---|---|
| International transfer exchange rates | Mid-market exchange rate, with a separately disclosed transfer fee. | Competitive exchange rates and no hidden fees, according to KOHO. Check the transfer quote. |
| Account costs | No monthly subscription. Transaction charges depend on the service used. | Core is free. Extra and Everything have monthly or annual subscription charges. |
| International transfer speed | Some transfers arrive in seconds. Timing depends on the payment. | Transfers can arrive within 30 minutes. Actual timing varies. |
| Access to international transfers | Available to eligible customers. | Available on all three plans, including Core. |
| Account management | Online and through the Wise app. | Digital account management, including the KOHO app. |
Rates: Compare the international transfer quote separately from card-spending costs. KOHO’s 1.5% card foreign transaction fee on Core is not an international transfer fee.
Fees: A free account subscription does not mean every transaction is free. Review the exchange rate, fees and recipient amount before sending.
Speed: Check the estimated arrival time for your particular transfer. Neither provider’s fastest advertised delivery time is guaranteed for every payment.
Service: Use the provider’s official app or help centre to find the support options available for your account.
Safety: Review each provider’s account protection and safeguarding terms. Registration, safeguarding and deposit insurance are different protections.
Pros and cons
| Wise | KOHO |
|---|---|
✅ Hold multiple currencies. ✅ Personal and business account options. ✅ No monthly account subscription. ✅ International transfers and a debit card. | ✅ Free Core plan. ✅ International transfers on every plan. ✅ Cashback and interest that vary by plan. ✅ No foreign transaction fees on Extra and Everything. |
❌ Transfer and currency conversion charges apply. ❌ ATM charges apply above the monthly allowance. ❌ No standard category cashback comparable to KOHO’s rewards. | ❌ Core charges a 1.5% foreign transaction fee. ❌ Extra and Everything require a paid subscription. ❌ Account balances are held in CAD rather than multiple currencies. |
Wise vs KOHO: The verdict
Wise may suit customers who regularly hold, receive or spend different currencies. Its multi-currency account provides flexibility for managing money across borders.
KOHO may suit customers who want a CAD account with cashback, interest and a choice of free or paid plans. Core includes access to international transfers without a subscription. Extra and Everything offer higher earning rates and no card foreign transaction fees.
For transfers, compare quotes for the same amount and destination. For travel spending, consider subscription charges, currency conversion, card foreign transaction fees and ATM costs together.
About Wise and KOHO
Wise launched in 2011 and provides international payment and multi-currency account services. It introduced the Wise Chequing Account in Canada in September 2026, adding domestic features alongside its international services. Wise is not a bank.
KOHO offers CAD accounts and prepaid Mastercard cards for Canadian customers. Its Core, Extra and Everything plans provide different cashback, interest and subscription levels. All three plans include access to international money transfers.
How do they work?
With Wise, you can hold different currencies, receive payments using supported account details and arrange international transfers. Review the exchange rate and applicable charges before sending or converting money.
With KOHO, you hold CAD and choose a plan based on your spending and saving needs. Core has no subscription charge, while Extra and Everything offer higher rewards and no foreign transaction fees on card spending.
KOHO plans compared
| Feature | Core | Extra | Everything |
|---|---|---|---|
| Monthly subscription | $0 | $18 | $22 |
| Annual subscription option | Free plan | $144 | $177 |
| Cashback on groceries, eating and drinking, and transportation | 1% | 1.5% | 2% |
| Cashback on other purchases | Check current reward terms | 0.25% | 0.5% |
| Interest rate | 2% | 2.5% | 3.5% |
| Card foreign transaction fee | 1.5% | None | None |
| International money transfers | Available | Available | Available |
Prices are in CAD. Annual subscriptions are alternatives to monthly billing. Core also offers up to 6.5% additional cashback at selected merchants. Rewards and interest are subject to current product terms.
International transfers are available to 190+ countries across all three plans. Access to the service does not mean every transfer is free.
Wise vs KOHO fees
The table below focuses on Canadian personal customers, with the Wise Business setup charge identified separately. Amounts are in CAD unless stated otherwise.
| Service | Wise | KOHO |
|---|---|---|
| Account registration and subscription | Personal registration is free, with no monthly subscription. Business registration is free; a one-time 55 CAD fee unlocks all business features. | Core: $0/month. Extra: $18/month or $144/year. Everything: $22/month or $177/year. |
| Order a card | Standard card order is free. Optional express delivery and replacement charges may apply. | Prepaid Mastercard available with the account. Check current terms for replacement or optional card charges. |
| Spend with your card | Free to spend a currency you already hold. Conversion charges apply when needed; no separate foreign transaction fee. | Core charges a 1.5% foreign transaction fee on foreign-currency purchases. Extra and Everything have no foreign transaction fees. |
| ATM withdrawals | No Wise withdrawal fee on the first $100 withdrawn per calendar month per account. Above that allowance, chargeable withdrawals incur a $2.69 fixed fee plus 2.69% on the amount above the allowance. Conversion and ATM operator fees may also apply. | Check current plan terms for withdrawal charges and reimbursement eligibility. ATM operator charges may apply. |
| Receive a payment | Account details support receiving in 22 currencies. Supported domestic non-SWIFT/non-wire receipts are free for personal customers. Receiving USD wire or SWIFT payments costs USD 6.11. Other SWIFT charges depend on the currency. | CAD receiving features are separate from the outbound international transfer service. Check the supported payment method and current terms. |
| Send an international payment | The Canadian pricing page lists fees from 0.19%, varying by currency. Check the quote for your amount and payment method. | Available on all plans, including free Core. Review the quoted rate, fees and recipient amount. |
| Currency conversion | Mid-market exchange rate plus a conversion fee. The Canadian pricing page lists conversion fees from 0.19%. | Card purchases use the Mastercard rate, with Core’s 1.5% foreign transaction fee where applicable. International transfers have separate quoted pricing. |
Check live pricing before transacting. Wise Business receiving charges can differ from personal-account fees. KOHO’s card foreign transaction fees do not establish the cost of an international money transfer.
Wise vs KOHO: Which is cheaper for international payments?
Both providers offer international money transfers. KOHO supports transfers to 190+ countries on Core, Extra and Everything, so a paid subscription is not required.
The cheaper option depends on the payment. Request quotes for the same amount and destination, then compare the exchange rate, fees and final recipient amount. Include any funding costs rather than comparing the advertised exchange rate alone.
Wise vs KOHO: Exchange rates
Wise uses the mid-market exchange rate and shows its conversion charge separately. Review the quote for your currency pair and transaction.
KOHO card purchases use the Mastercard exchange rate. Core adds a 1.5% foreign transaction fee, while Extra and Everything do not charge this fee. For international money transfers, KOHO provides a separate quote and describes its rates as competitive, with no hidden fees.
Wise vs KOHO: Which is faster?
Wise transfers can arrive in seconds, while KOHO says its international transfers can arrive within 30 minutes. Actual delivery depends on the route, payment method, processing and any required checks.
Compare the estimated arrival time for your specific payment. Neither provider’s fastest advertised timing is a guarantee for every transfer.
Wise vs KOHO: International transfer limits
Wise’s limits for transfers funded in CAD depend on the payment method. The receiving currency and your bank may impose additional restrictions.
| Wise payment method | Published CAD funding limit |
|---|---|
| Direct debit | $9,500 per day and $30,000 per week. |
| Debit or credit card | $3,000 per transfer. |
| Online bill payment or wire transfer | Up to $1.5 million. |
| Interac e-Transfer | Up to $25,000; your bank may set a lower limit. |
For KOHO, check the current international transfer limits in the app or with support. Card-spending limits, ATM withdrawal limits and limits for funding another provider’s transfer are separate from KOHO’s own international transfer limits.
Wise vs KOHO: Payment methods
For transfers from CAD, Wise supports these funding methods, subject to availability for the transaction:
- Direct debit (EFT)
- Online bill payment
- Debit or credit card
- Wire transfer
- Interac e-Transfer
You can also use an available Wise balance where supported.
For KOHO, open the app and select the option to send money internationally. Follow the prompts and review the recipient amount and transfer details before confirming. This service is available on Core, Extra and Everything.
Wise card vs KOHO card
Both providers offer cards for international spending. Compare the subscription, conversion costs, rewards and ATM charges before choosing.
| Provider card | Card features |
|---|---|
| Wise card |
|
| KOHO card |
|
KOHO’s international money transfer service is separate from using the card abroad and is available on every plan, including free Core.
Wise vs KOHO cards: Where can you use them?
Check the payment-network logo on your card and whether the merchant or ATM accepts it. KOHO uses Mastercard. Restrictions can apply in certain locations or for particular transactions.
Card acceptance is separate from the countries supported for international money transfers.
Supported currencies
Wise supports holding 40+ currencies. Receiving options depend on the currency and payment network: receiving support does not mean every currency has separate local bank details or that every incoming payment is free.
KOHO holds CAD, but users can send international money transfers to 190+ countries on all plans. Holding foreign currencies, sending money internationally and spending abroad are different features.
Ease of use
Creating an account: Both providers offer digital registration and require identity verification. Follow the provider’s instructions for the documents needed.
Making a transfer: Both offer international money transfers. KOHO users do not need a paid subscription to access the service.
Ways to send money: Wise offers several CAD funding methods. For either provider, check the options and associated costs available for your payment.
Support: Use the official app or help centre to find the contact channels available for your account and issue.
Minimum and maximum amounts: Check the limits for your destination and payment method. Transfer limits should be checked separately from card-spending and ATM limits.
Are they regulated in Canada?
Wise Payments Canada is registered with FINTRAC as a money services business. Wise is not a bank, and registration should not be interpreted as a guarantee of its products or services.
KOHO says customer funds are held with Peoples Trust and describes safeguards including encryption and two-step verification. Its prepaid Mastercard includes protection for eligible unauthorised transactions under the applicable terms.
Review each provider’s current safeguarding and deposit-insurance information for your account. Eligibility, exclusions and coverage limits matter when comparing protection.
Wise vs KOHO: Customer service
For account-specific help, sign in to the provider’s official app or website and open its support section. Available contact channels may depend on your account, plan and the issue.
Use contact details supplied by the provider rather than an unverified phone number found elsewhere.
Conclusion: Is KOHO better than Wise in Canada?
Both providers offer international money transfers, but their account features suit different needs.
Wise provides multi-currency functionality for customers managing money across borders. Compare its transaction costs with the services you expect to use.
KOHO combines a CAD account with cashback and interest. Core is free and includes access to international transfers to 190+ countries. Extra costs $18/month or $144/year, and Everything costs $22/month or $177/year. These paid plans offer higher earning rates and remove the 1.5% card foreign transaction fee that applies on Core.
Compare transfer quotes when sending money abroad. For travel spending, consider account subscriptions, conversion costs and ATM fees alongside rewards.
KOHO vs Wise in Canada FAQ
What is the difference between Wise and KOHO?
Wise offers multi-currency account features, while KOHO holds CAD and offers cashback and interest that vary by plan. Both provide international money transfers. KOHO’s service is available on Core, Extra and Everything, including the free plan.
Which is better: Wise or KOHO?
Wise may suit you if you regularly manage different currencies. KOHO may suit you if you prefer a CAD account with category cashback and a choice of subscription levels. Compare the features and costs relevant to your spending, saving and transfers.
Is Wise or KOHO cheaper?
It depends on the transaction. KOHO Core has no subscription fee, while Extra and Everything charge for additional benefits. For international transfers, compare quotes showing the fees, exchange rate and recipient amount. For card spending, include conversion charges and any subscription costs.
Is Wise or KOHO faster for international transfers?
Both providers offer fast transfers, but delivery times vary. KOHO says transfers can arrive within 30 minutes. Check each provider’s estimated arrival time for your destination and payment method before sending.
How many currencies do Wise and KOHO support?
Wise supports holding 40+ currencies. KOHO holds CAD, but offers international money transfers to 190+ countries. Currencies available to hold and destinations available for transfers are different measures.