How to Cancel Koho in 2026: Step-by-Step + Refund Guide
TL;DR
Withdraw your balance → cancel any paid subscription → request closure in-app or by email → wait 5–7 business days. Prorated subscription refunds are usually granted automatically. Your Credit Building history with Equifax is preserved.
Before you cancel — quick checklist
- Move all CAD balance to your linked bank or via e-Transfer
- Cancel any pre-authorized debits routed through your Koho card (Netflix, gym, etc.) — update them with a different card first
- Download your transaction history (Profile → Statements) for tax records
- Cancel paid plan separately if you want a prorated refund
Step 1 — Cancel paid plan first
In-app: Profile → Plan → Cancel. Koho prorates the unused portion of the current month and credits it back to your Koho balance immediately. If you skip this step and close the account directly, you may lose the proration.
Step 2 — Withdraw your balance
Send the remaining CAD to your linked bank account (1–3 business days) or to yourself via e-Transfer (instant). Koho's account closure system blocks closure of accounts with a non-zero balance.
Step 3 — Request closure
Two paths:
- In-app: Profile → Help → Search "close my account" → start the request flow
- Email: support@koho.ca with subject "Account closure", include full name, registered email, and last 4 digits of your card
Step 4 — Confirm closure
Koho emails confirmation within 1–2 business days, with full closure in 5–7 business days. Your card is deactivated immediately upon request submission.
If you can't get through
- If support stops responding for 5+ business days, file a complaint with the Ombudsman for Banking Services and Investments (OBSI) — Koho is a registered member
- For card disputes: you have 60 days from a transaction to dispute via Koho support
- If you suspect fraud, also report to the Canadian Anti-Fraud Centre (1-888-495-8501)
What happens to Credit Building history?
If you used Koho's Credit Building add-on, cancelling stops new monthly reports to Equifax but does not erase your historical payment record. Your existing tradeline remains on your file for up to 6 years post-closure. See our Equifax vs TransUnion guide.
Switching to another option?
- Wealthsimple Cash — no-subscription daily banking
- Neo Money — high-interest hybrid
- EQ Bank, Tangerine, Simplii — full HISA rate comparison
Related guides
Sources: Koho Help Centre, Peoples Trust account agreement, OBSI member directory. Process and timing may change — confirm with Koho support if exact timing matters. Last reviewed: April 22, 2026.
Editorial disclaimer
This article is published by LoonieLabs for general information only. It is not financial, tax, legal, accounting, or immigration advice and must not be relied on as such. Rules, dollar figures, interest rates, and program eligibility change — always verify with the Canada Revenue Agency, IRCC, or a qualified professional before acting. Spotted an error? See our corrections policy. Last reviewed: April 22, 2026.
Frequently Asked Questions
Written and reviewed by Shrey Patel — Founder & Editor-in-Chief
Winnipeg, MB · Figures cross-checked against official banking & credit sources · Last reviewed April 22, 2026 · LinkedIn
Founder of LoonieLabs · based in Winnipeg, MB · writes and reviews every page on the site I oversee every figure on this page personally — verified against primary sources (CRA, IRCC, Statistics Canada, the Bank of Canada, or the originating provincial ministry). LoonieLabs has no affiliate relationships with any bank, credit card, or immigration consultant featured on this site. Spotted a mistake? Tell us.
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