An account that delivers for you

The Canada Post MyMoney Account is a savings and spending account.

Delivered with KOHO, you choose the benefits that work best for you, like cash back rewards on everyday spending, no fees and Credit Building.

The account comes with a virtual card (you can also order a physical card through the KOHO app) that works like a debit card and uses the Mastercard network. So, you can make purchases the same way you would with a credit card, but you’re using money you already have.  

You’ll have access to the KOHO app to track your spending, savings and access your virtual card. And because it’s backed by Mastercard, you can use it almost anywhere that Mastercard is accepted – including online and ATMs.

Existing KOHO customers aren’t eligible and will not be able to sign up for the Canada Post MyMoney Account.

When you fund your Canada Post MyMoney Account, you will receive a coupon code from KOHO ($5 value in cash back that can be used in 3 separate in-person MoneyGram send transactions.) To use the coupon code, visit a Canada Post location in person within the first 90 days of funding your account. Cash back on your send will be applied to your MyMoney Account, within 30 days.

You need to open a MyMoney account and receive your 2 separate MoneyGram transfers within the first 60 days of an account opening. A $5 cash back per transaction (up to 2 transactions) will be applied back to your MyMoney account, within 30 days.

Currently, you can use cash or a non-MyMoney debit card to pay for a MoneyGram send transaction.

The Canada Deposit Insurance Corporation, or CDIC, is a Crown Corporation that provides deposit insurance for eligible deposits held at CDIC member institutions in case of a member institution’s failure. While KOHO is not a CDIC member institution, when you opt-in to Earn Interest, your Canada Post MyMoney Account balance delivered by KOHO is held in trust with one or more CDIC member institutions. CDIC insures eligible deposits held in trust up to $100,000 per beneficiary, per member institution, provided that KOHO meets certain disclosure requirements. For more information visit cdic.ca. We completely understand that you want to make sure your funds are safe with us. KOHO itself is not CDIC insured, but in the unlikely event that KOHO fails, your funds will be returned to you by our partners who hold your funds.

Canada Post MyMoney Accounts delivered by KOHO that do not earn interest are not eligible for CDIC protection.

You will need to provide some basic personal and employment information. You will also need your Social Insurance Number (SIN) if you want to earn high interest on your balance. There is no cost to create an account.

You can use KOHO support in your KOHO app or the KOHO website to follow up on your cash back.

It works everywhere Mastercard is accepted. However, please note that it cannot be used for gambling and adult entertainment sites.

Some countries do not accept pre-paid Mastercard. See the KOHO website for a list of these countries.

*¥This Canada Post MyMoney™ Account delivered by KOHO (the “Account”) offer consists of a one-time payment of the following: a) a twenty-five ($25) dollar cash back (“MyMoney Cash Back”); b) a fifteen ($15) dollar cash back for MoneyGram send transactions (the “$15 MoneyGram Cash Back”); and c) a ten ($10) dollar cash back for MoneyGram receive transactions (the “$10 MoneyGram Cash Back”) (collectively, the “Offer”).This Offer is exclusive to primary Account holders that are Canadian residents, that do not have an existing relationship with KOHO at the time of opening the Account, who are the age of majority in their province or territory at the time of opening the Account (the “Customer” or “Customers”), and who meet the terms and conditions outlined below.

*To be eligible to receive the MyMoney Cash Back, a Customer must, within the sixty (60) calendar days immediately following the day they open their Account, spend a minimum of one hundred ($100) dollars (including taxes).

¥To be eligible to receive the $15 MoneyGram Cash Back, a Customer must, within ninety (90) calendar days of receiving an email sent by KOHO containing one (1) coupon code pertaining to the $15 MoneyGram Cash Back (the “Coupon Code”): a) fund their Account; b) go to a Canada Post location; c) pay in full for a MoneyGram send transaction in cash or by using a non-MyMoney debit card; d) present the Coupon Code to a Canada Post clerk to redeem five ($5) dollars from the $15 MoneyGram Cash Back; and e) Redeem the Coupon Code during two (2) additional separate in-person MoneyGram send transactions to redeem the remaining ten ($10) dollars from the $15 MoneyGram Cash Back. The funds will be deposited in the Customer’s Account within thirty (30) calendar days of a MoneyGram send transaction. The Customer must use the same name as the one used to register for their Account.

¥To be eligible to receive the $10 MoneyGram Cash Back, a Customer must, within the sixty (60) calendar days immediately following the day they open their Account, receive funds on their Account in the course of two (2) separate MoneyGram receive transactions. The funds will be deposited in the Customer’s Account within thirty (30) calendar days of the MoneyGram receive transactions. Customers must retain the transaction receipt as proof of purchase. In case of any disputes, escalations, or cash back-related inquiries, a valid receipt may be required for verification. Transaction details may be processed and shared between Canada Post, KOHO and MoneyGram as needed to support offer eligibility.

This Offer may not be combined or used in conjunction with any other Canada Post MyMoney offers unless otherwise indicated by Canada Post or KOHO. Canada Post or KOHO reserves the right, at their sole discretion, to cancel, terminate, modify, suspend, extend, or otherwise amend all or part of this Offer at any time without prior notice. These terms and conditions and all disputes or other matters arising out of a Customer’s participation in this Offer are governed by and will be construed in accordance with the laws of the Province of Ontario and the applicable laws of Canada, without regard to any choice or conflict of laws, rules or principles that will result in the application of the laws of any other jurisdiction.

The Customer acknowledges that these terms and conditions and the documents incorporated herein by reference set out the entire agreement between the Customer, Canada Post, MoneyGram and KOHO with respect to this Offer.

† When signing up for your account, you will have to activate to unlock your High Interest Savings. When “Earn Interest” is activated on your account, you will earn interest on your KOHO Account balance at the disclosed rate. The most up to date interest rate will be made to you on the KOHO App, subject to change from time to time.

Credit scores are based on complex models involving a variety of factors. Consistent on-time payments help improve credit scores. Missed or late payments may cause credit scores to decrease. Outcomes may vary among users.

™ Canada Post Corporation / Mastercard Int. / KOHO Financial Inc., Licensed User.

Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated