Sources checked November 7, 2026 · See sources and assumptions
KOHO Cover at a glance#
| Detail | What to know |
|---|---|
| Product | In-account credit |
| Amount | Eligible limit determined in app |
| Cost | Bundle from $2/month |
| Delivery | Available in your KOHO account once eligible and subscribed |
| Repayment | Money loaded into the account pays down outstanding Cover first. |
| Availability | Confirm availability with provider |
Worth comparing if you already use KOHO and need to cover eligible transactions there. It does not directly solve a payment that requires transferring the Cover balance to a different bank account.
What would $100 or $250 cost?#
| Option | Cost above principal | $100 used | $250 used |
|---|---|---|---|
| One billing period at your quoted monthly fee M | M | $100 + M | $250 + M |
| Two billing periods at the same quoted fee | 2 × M | $100 + 2M | $250 + 2M |
| Illustration only: M = $10 for one period | $10 | $110 | $260 |
M means the full monthly cost required for your selected setup, including any separately applicable account-plan charge. The $10 row is invented solely to demonstrate the math, not a KOHO price. Assume the displayed amount is approved and fully repaid, no extra charges, and add applicable taxes. We do not apply the advertised $2 starting price to an unverified $100 or $250 limit.
Interest-free still has a monthly price#
The Cover product page advertises a bundle starting at $2 monthly. Its footnote says approval is required for amounts up to $500. The page does not give us a complete, verified price-to-limit table, so we leave the membership field blank in the calculator.
Open your offer and write down the Cover bundle price, any account-plan cost you would add to use it, the billing date and what happens when you cancel. If you would already pay an account fee regardless, show it in the full household cost but separate it from the extra cost of Cover.
In the hypothetical $10-a-month example above, keeping the bundle for three billing periods costs $30. The original amount used still needs repayment. A low monthly number can look different when you count how long the subscription will stay active.
Up to $500 does not tell you your starting limit#
KOHO’s marketing and footnote need to be read together: the page promotes approval, while the disclosure makes amounts up to $500 conditional. Check the limit offered in your account before paying for a setup intended to cover a specific bill.
You need a KOHO account and the relevant bundle. Confirm the current eligibility requirements and whether the offered product is available where you live. We have not verified a complete provincial eligibility list or a starting limit for every applicant.
Can you e-Transfer Cover to another account?#
No. KOHO’s Cover explanation says the balance cannot be sent by e-Transfer, moved through KOHO-to-KOHO transfers or added to a Vault. It supports eligible transactions inside the account.
For a practical example, credit for a card purchase might cover groceries at checkout. It would not itself provide an e-Transfer to a landlord. Before subscribing, check the exact transaction you need to make, not just the size of the available credit.
This is why our cash app comparison separates account-based credit from funds sent to a bank account. Products with similar advertised limits may not solve the same problem.
Deposits pay back used Cover first#
KOHO describes Cover replenishing when you add funds. Confirm the full collection and cancellation terms in the current agreement and your account before using it.
Example: assume you used $100 of Cover and then add $150, with no other charges or pending transactions. Replenishing the $100 leaves $50 of the deposit for your Spendable balance. The $150 deposit is not all newly available cash.
A monthly bundle payment is a separate obligation from replenishing used credit. Ask what happens if the fee is missed or you cancel with an outstanding balance. Flexible repayment language is not permission to keep the credit indefinitely without meeting account terms.
Put the full effect of repayment into the budget planner, and use the paycheque calendar to line up income and upcoming bills.
Compare the same job, not just the limit#
Match the amount, payment method and deadline first. Then compare the money you will pay out and when it leaves your account. A lower fee is not useful if the funds cannot reach the bill you need to pay.
See the four-provider fee comparison, or read our Bree review, our Nyble review, our NotchUp review. You can also ask the biller about moving the due date before taking on a repayment.
What this review can and cannot establish#
We reviewed the public Canadian provider pages and documents linked below. This is a review of published terms, not an account-opening test, customer interview or guarantee of approval.
Still to confirm: Your starting limit, exact bundle and account costs, provincial eligibility, and the consequences of cancellation or a missed fee under your current offer. No account opening or transaction testing was performed.
Originally published November 6, 2026; expanded into this detailed review November 7, 2026. We do not assign stars or repeat customer ratings as our own test results.
Common questions
Can I send Cover by e-Transfer?
No. KOHO says Cover funds cannot be sent by e-Transfer. Check whether your intended payment is an eligible in-account transaction.
Does a $2 bundle guarantee a $500 limit?
No. The starting monthly price and the maximum credit amount are separate claims. Use the actual fee and approved limit displayed in your account.
Is Cover the same as overdraft at my other bank?
No. It operates within KOHO and does not automatically protect a payment leaving an unrelated bank account.
Sources and notes
Published by The Paycheque. Updated . Sources checked . Examples are illustrative. Check your provider’s agreement or employer’s pay schedule for your own terms.
