Is the KOHO Everything Plan Worth $19/Month? A Brutally Honest Review

$19 a month. That is the price of a Netflix Premium subscription or a couple of fancy coffees. It is also the price of KOHO’s top-tier “Everything” plan.

For a company that prides itself on “no-fee” banking, a $19 monthly fee can be a bit of a shock. You might be asking (like many users on Reddit): “Is the KOHO Everything plan actually worth it?”

The answer is: Yes, but only if you fit a specific profile. Let’s do the math.

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The “Everything” Plan Perks

First, what do you actually get for $19?

1. 2% Cash Back on Groceries, Eating & Drinking, and Transportation.
2. 0.5% Cash Back on everything else.
3. No Foreign Transaction (FX) Fees (Save 2.5% on non-CAD spend).
4. One Free International ATM Withdrawal per month.
5. 50% Off Credit Building (Save ~$5/mo).
6. Higher Interest Rate on your balance (up to 5%).

The Break-Even Calculation

To make the plan “free,” you need to earn $19 in value every month.

1. The Spender Strategy

If you only look at cash back (2%), you need to spend $950/month in the 2% categories (Groceries + Dining + Uber/Gas) to earn $19 back.

• Verdict: For a single student, this might be high. For a couple or family, spending $950 on food and transport is very easy.

2. The Credit Builder Strategy

If you are already paying for Credit Building ($10/mo), the Everything plan gives you a 50% discount.

• Value: $5.
• Remaining cost to cover: $14.
• Spend needed: $700/month in 2% categories.

3. The Traveler Strategy (The “Cheat Code”)

This is where the plan pays for itself instantly. Standard cards charge a 2.5% FX fee. KOHO Everything charges 0%.

• If you spend $760 CAD while traveling (hotels, meals), you save $19 in FX fees.
• Verdict: If you are traveling for even a weekend, the plan is worth it for that month alone.

The Hidden Value: High Interest

Don’t forget the interest rate. If the Everything plan bumps your interest rate from 3% to 5% (depending on current promos), that 2% difference on a $5,000 balance is worth $100/year ($8.33/mo).

• This effectively lowers the plan cost to ~$10/mo.

Who Is It For?

• ✅ WORTH IT IF: You spend $1,000+ on groceries/dining, you are building credit, OR you are traveling outside Canada.
• ❌ NOT WORTH IT IF: You spend less than $500/month and stay in Canada. Stick to the Essential or Extra plan.

Conclusion

The $19 fee sounds steep, but for an active user, the math checks out. Between the cash back, the FX savings, and the credit building discount, the “Everything” plan can easily put more money in your pocket than it takes out.

Compare all plans: KOHO Essential vs Extra vs Everything and see why KOHO Beats Banks.

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