Koho refreshes joint accounts with new reward features

Toronto-based FinTech firm Koho hopes to bring everyone’s money closer together with the launch of its refreshed joint accounts.

“We know Canadians believe in sharing finances, but many haven’t had the tools to do it easily.”

Koho first launched joint accounts in 2019, but has now refreshed them with a reward system. Users sharing their accounts can now accumulate 3.5 percent interest on their balances, up to 2 percent cash back on essentials, and 0.5 percent on all other purchases. The new joint accounts also carry no foreign transaction fees, free international ATM withdrawals, and existing, built-in budgeting tools like Roundup , Vault , and Goals .

Koho says the new joint account offering is a response to younger Canadians who are looking for tools to manage shared money while navig