Manage Koho

How to cancel koho and stop paying for a fintech account you don't use

Understanding koho and why you might want to cancel

Koho is a Canadian fintech platform that offers prepaid spending accounts, debit cards, and optional credit-building features. The app provides budgeting tools, cash back rewards, early deposits, and international money transfer capabilities as an alternative to traditional banking. Many people sign up for Koho's tiered plans-Essential, Extra, or Everything-to access higher interest rates and cash back benefits, but life changes, spending habits shift, or you discover the service doesn't align with your financial goals.

If you're paying for a Koho subscription you no longer need, cancelling stops future charges immediately. At Stopee, we help you understand exactly when to cancel, how to do it, and what happens to your money after you pull the plug.

When cancellation makes sense

You should consider cancelling Koho if you've found a bank with better interest rates, you rarely use the cash back features, the monthly fee no longer justifies the benefits, or you prefer traditional banking without subscription models. Cancelling is also wise if you're consolidating accounts or moving to a competitor that offers superior rewards for your spending patterns.

What koho offers (and what you'll lose on cancellation)

Koho's three paid tiers deliver different interest rates, cash back percentages, and perks. The Essential plan waives its monthly fee (usually $4) if you meet deposit conditions, or costs $48 per year. The Extra plan runs $12 monthly, and the Everything plan costs either $14.75 monthly on annual billing or $22 monthly on flexible billing. When you cancel, you lose access to these tier-specific benefits-though your account balance and transaction history remain in the app unless Koho closes the account.

Koho pricing and plan breakdown

Review this table to confirm which Koho plan you're paying for and what you'd lose on cancellation.

If you're on the Everything plan and only use basic features, switching to Essential saves you between $177 and $264 yearly. Stopee recommends comparing the interest rates and cash back percentages Koho offers against your primary bank before deciding.

How to cancel koho in three straightforward methods

Koho lets you cancel your paid plan via the mobile app or web portal; both methods take under three minutes and stop future billing immediately.

Cancelling via the koho app (mobile)

The mobile app is the fastest way to cancel; your changes take effect after you confirm.

1. Open the Koho app and log in with your credentials.
   • If you've forgotten your password, tap "Forgot password?" and reset via email.
2. Navigate to the "My Plan" section at the bottom of your dashboard.
   • Look for a card or menu item labeled "My Plan" or "Manage plan."
3. Tap "Change my plan" or "Manage my plan."
   • You'll see your current tier (Essential, Extra, or Everything).
4. Select "Cancel my plan" at the bottom of the page.
   • Koho will ask if you want to downgrade or cancel; choose "Cancel."
5. Review the cancellation summary, which confirms that plan benefits end at the next billing date.
   • You will not be charged again after this billing cycle ends.
6. Confirm the cancellation by tapping the final "Confirm" or "Cancel plan" button.
   • You'll receive an in-app confirmation message immediately.

Pro tip: Take a screenshot of the confirmation message in case you need proof of cancellation for future disputes or billing inquiries.

Cancelling via the koho web portal

If you prefer cancelling on a computer, the web portal offers the identical process.

1. Visit web.koho.ca and sign in with your email and password.
   • Ensure your browser is secure (lock icon in the address bar).
2. Click on "My Plan" in the left sidebar or main menu.
   • Some accounts display this as "Account Settings" or "Subscription."
3. Click "Manage my plan" or "Change my plan."
   • A dropdown menu or modal window will show your current subscription.
4. Select "Cancel plan" from the available options.
   • Koho displays a summary of what you're cancelling and the final billing date.
5. Click "Confirm cancellation" or the red "Cancel" button to finalize.
   • You'll see a confirmation page with a timestamp.

Warning: Some users report that Koho's web interface occasionally takes 12-24 hours to update after cancellation. If your payment processes again, contact Koho support immediately with a screenshot of your cancellation confirmation.

Cancelling other koho features (Cover and international transfers)

If you've activated Koho's Cover cash advance feature or set up an international money transfer, you cancel these separately from your main plan.

Cancel Cover (cash advance): In the app, navigate to "Cover" and tap the settings icon, then select "Cancel Cover." If you have an outstanding cash advance, you'll either repay it immediately or it will be collected from your account after the 30-day subscription period ends.

Cancel an international transfer: If your transfer is still in setup or awaiting information (you haven't yet sent funds), you can cancel it in the app within a grace window of approximately three minutes. You'll receive a full refund. Once funds have been sent, cancellation is not possible-you cannot reverse the transaction.

What happens to your money and account after cancellation

Cancelling your Koho plan doesn't close your account; it simply stops future subscription charges. Understanding what persists after cancellation protects your financial data and ensures you retrieve everything you need.

Your account access and balance after cancellation

When you cancel a paid plan, your Koho account remains active and accessible. Your current balance, transaction history, and card details stay in the app indefinitely-unless Koho initiates account closure for compliance, inactivity, or breach of terms. You can still view all prior transactions, download statements, and access any remaining cash back or interest that has accrued. If you need historical statements for tax or accounting purposes, download them before you close the account entirely.

How merchant refunds and chargebacks work on your cancelled card

If a merchant refunds a purchase to your Koho card after you've cancelled your plan, the refund typically appears within two to three business days. Payment networks sometimes delay refunds up to seven business days, depending on the merchant's processor. If your card is locked or expired by the time the refund processes, Koho attempts to apply it anyway-but locked cards may reject the refund. Pro tip: Unlock your Koho card before cancelling if you're awaiting pending refunds from recent purchases.

Refund policy and what you will (and won't) get back

Koho's refund policy is strict for subscription plans but more flexible for certain features. At Stopee, we believe transparency around money back is essential for consumer trust.

Subscription plan refunds (Essential, extra, everything)

Koho plan purchases are non-refundable. When you cancel, you stop future charges but do not receive a refund for the current billing period you've already paid. For example, if you're on the Everything plan ($22 per month) and you cancel on day 15 of a 30-day cycle, you will not receive a prorated refund for the remaining 15 days. Your plan benefits remain active until the end of that billing cycle, at which point all premium features disable.

International transfer refunds

International money transfers offer a narrow refund window. If you cancel during the setup phase (before funds are sent) or while the transfer awaits your information, you receive a full refund-but you must act quickly, within approximately three minutes of initiating the transfer. Once Koho sends the funds, cancellation is not available and you cannot recover the money. If there's a dispute with the recipient bank, you must work with Koho's support team and the receiving institution separately.

Refunds to closed or expired cards

If a merchant processes a refund after your Koho card is cancelled or expired, Koho honours the refund if the merchant's transaction settled before the card was deactivated. If your card is locked (suspended but not cancelled), unlock it immediately to accept pending refunds; otherwise, the payment network may decline the transaction and return it to the merchant.

Travel insurance and third-party product refunds

Koho partners with insurance providers like TuGo to offer travel insurance through the app. Koho does not process refunds for these products-you must contact the insurer directly to request cancellation or a refund. Check your Koho statements to identify which third party issued your insurance, then reach out to them with your policy number.

Your consumer rights in canada and what to do if koho refuses to cancel

Canadian consumer protection laws empower you to cancel subscription services and dispute unfair charges. If Koho doesn't honour your cancellation request or continues billing after you cancel, you have legal recourse.

Consumer protection act rights

Under Canada's Consumer Protection Act and provincial equivalents (such as Ontario's Consumer Protection Act), you have the right to cancel any subscription service. If a company continues charging you after cancellation or makes cancellation deliberately difficult, they are violating consumer law. Most provinces require companies to offer a simple, online cancellation method-which Koho does provide through its app and web portal.

What to do if billing continues after cancellation

If Koho charges your account after you've cancelled, follow these steps:

1. Log into your Koho account and confirm your cancellation status in the "My Plan" section.
   • Take a screenshot showing the date of cancellation.
2. Contact Koho support via the in-app chat or email support@koho.ca with your cancellation confirmation screenshot.
   • Clearly explain the date you cancelled and the date the erroneous charge appeared.
3. Request an immediate refund of the disputed charge.
   • Keep copies of all correspondence with Koho.
4. If Koho does not refund within five to seven business days, dispute the charge with your bank or credit card issuer.
   • Provide your bank with the cancellation confirmation and all Koho support emails.
5. As a last resort, file a complaint with your provincial consumer protection authority (in Ontario, the Ministry of Government and Consumer Services; in British Columbia, the Office of the Consumer Protection Commissioner).
   • Include proof of cancellation and evidence that Koho continued billing.

Pro tip: Keep screenshots of every cancellation confirmation for at least one year. These are your proof if a dispute arises.

Common mistakes people make when cancelling koho

Many users cancel their plan correctly but later discover they've made small errors that cost them time or money. We've seen these pitfalls before, and we want you to avoid them.

Mistake 1: confusing plan cancellation with account closure

Cancelling your Koho plan stops subscription charges but does NOT close your account. If you want to permanently close your Koho account, delete your card, and remove your personal data, you must contact Koho support separately and request full account closure. Cancelling the plan alone leaves your account active, which means Koho may continue storing your transaction history and personal information. Visit the Koho support portal or in-app chat to request account deletion if that's your goal.

Mistake 2: not checking for pending refunds before cancellation

If you've recently made purchases and are waiting for merchant refunds, cancelling your plan while refunds are in transit can cause complications. Wait until all refunds have posted (typically two to three business days) before cancelling. If you cancel first and a refund arrives afterward, the payment network may decline it because your card is no longer active.

Mistake 3: cancelling on the wrong date and paying for an extra cycle

Koho bills on your plan's anniversary date. If you cancel on day 20 of a 30-day billing cycle, you still pay for the full 30 days before the cancellation takes effect. Always check your billing date in the app before cancelling. If you want to minimize waste, cancel within two days of your next billing date so you don't pay for a full new cycle.

Mistake 4: forgetting about cover or other add-ons

If you've enabled Koho's Cover cash advance feature, cancelling your main plan does not automatically cancel Cover. You must separately cancel Cover through the "Cover" section of the app, or you'll continue being charged $20 monthly for that feature. Review the "My Plan" dashboard to see all active subscriptions before cancelling.

Timeline and what to expect after cancellation

After you cancel, Koho stops future charges, but some account changes take time to reflect. Here's what happens next and when.

Checklist before and after you cancel koho

Use this checklist to ensure you cancel cleanly and don't miss anything important.

Before cancellation:

• Log into your Koho app and confirm your current plan (Essential, Extra, or Everything).
• Check your billing date and plan to cancel within two days after billing if you want to avoid paying for a full new cycle.
• Download or screenshot all transaction statements and tax documents you need for personal records.
• Confirm whether you have Cover, Credit Building, or other add-ons activated; note which ones you'll need to cancel separately.
• Wait for all pending refunds from recent purchases to post (typically two to three business days).

During cancellation:

• Open the Koho app, navigate to My Plan, and select Cancel my plan.
• Review the cancellation summary and confirm the final billing date.
• Take a screenshot of the confirmation page immediately.
• If you have Cover or other active features, cancel those separately in their respective app sections.

After cancellation:

• Verify that no charge appears on your next billing date (allow up to 24 hours for web updates).
• Check your bank or credit card statement five to seven days later to confirm no Koho subscription charge.
• Save your cancellation confirmation screenshot and any support emails for at least one year.
• If you see an erroneous charge, contact Koho support within 48 hours with your proof of cancellation.

Should you cancel or just downgrade? a comparison

Cancelling your Koho plan entirely might not be your only option. Some users save money by downgrading to a lower tier rather than cancelling completely.

To downgrade instead of cancel, follow the same steps through My Plan, but select "Change to Essential" or "Change to Extra" instead of "Cancel my plan." Koho will pro-rate any difference on your next billing date.

Final address and escalation contacts for unresolved issues

If Koho ignores your cancellation request or refuses to honour a refund, you can escalate your complaint to the corporate address and regulatory bodies. At Stopee, we've helped thousands of consumers cancel subscriptions, dispute unwanted charges, and navigate complex financial service contracts. Here's how to pursue your complaint if Koho support isn't responsive.

Koho customer support contact: Email support@koho.ca or use the in-app chat feature (available during business hours).

Koho corporate mailing address: Koho Financial Inc., 401 Richmond Street West, Suite 204, Toronto, Ontario M5V 3A8, Canada.

Regulatory escalation: If Koho continues to charge after cancellation or refuses to refund, file a complaint with your provincial consumer protection office:

• Ontario: Ministry of Government and Consumer Services (ontario.ca/page/consumer-protection).
• British Columbia: Office of the Consumer Protection Commissioner (consumerprotectionbc.ca).
• Alberta: Fair Trading Act Administration (ca.gov.ab.ca).
• Other provinces: Contact your provincial consumer protection authority directly.

Provide your provincial regulator with proof of cancellation, copies of all Koho support emails, and bank statements showing the disputed charges.

Cancelling Koho should be straightforward-and with this guide, it will be. Whether you're switching to another fintech, returning to traditional banking, or simply cutting costs, Stopee empowers you to take control of your subscriptions. Stopee has helped thousands of consumers cancel unwanted services, avoid hidden charges, and reclaim their money. If you have questions about cancelling any other subscription service in Canada, visit Stopee.com to explore more cancellation guides and consumer protection resources. You deserve clarity, speed, and respect when you cancel-and Stopee is here to ensure you get exactly that.