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A side-by-side comparison of ratings, customer experience, products, fees, and pros & cons to help you choose the right bank.
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ATB Financial and KOHO Financial Inc. are evenly matched on our overall rating (4.0 each) — compare their products and fees below to decide.
Overview
All products offered
6 products
Savings
KOHO Essential Plan
ATB Financial is a provincially-owned bank with $110 billion in assets under management. What started as a small treasury branch has transformed into what ATB Financial calls “the largest financial institution headquartered in Western Canada.” Its operations are mainly in Alberta, though in 2023, ATB Wealth, its full-service brokerage, first expanded outside of the province. As of 2026, the wealth management arm has locations in both British Columbia and Saskatchewan.
With a range of financial services, ATB offers its customers access to chequing and savings accounts as well as credit cards, mortgages, business banking and wealth management. Its savings rates are more competitive than the biggest banks in Canada, offering slightly better returns on savings. It still trails the digital banks, though.
The institution also has several credit cards available to Alberta residents. Each of the cards has different perks, including cashback or rewards, though eligibility restrictions and constraints on rewards means their credit card offering lacks in comparison to the larger banks.
ATB also has a range of lending products as well as business banking and access to investment services through ATB Wealth and ATB Cormark Capital Markets. The bank offers more depth than many smaller regional institutions. And more than the digital banks. Its Alberta focus, however, makes it less convenient for Canadians who live outside of the province. For anyone inside its core market, ATB may be a strong full-service alternative.
Since its founding in 2014, fintech company KOHO Financial Inc. has developed under the motto “no hidden fees, no fine print, no catch.” Its product offering is narrow, though full of valuable choices. For example, FinlyWealth rated the KOHO Essential Plan at 4.9 stars out of 5, naming it as the best for cash back. Meanwhile, these cash back rewards are available on all plans, as is interest, starting at a rate of 2% for the Essential plan. Considering the most basic plan comes at a low monthly cost, it’s an impressive selling point. The company also allows you to directly purchase cryptocurrencies.
One of the drawbacks of the fintech is that it does not provide the same benefits and products as a full-service bank. It doesn’t, for example, have mortgages or a complete loan offering. Instead, its lending platform limits the options to just cash advances, lines of credit, and pay later plans. It also has no in-person services, so it requires all customers to be comfortable with digital banking.
Overall rating
4.0
4.0
Customer experience
3.3
3.8
Best for
ATB Financial works best for Albertans who want a full-service banking relationship within a regional institution.
Digital users looking for a fintech that combines spending, saving, cash back and budgeting tools.
Pros & cons
Pros
Strong regional presence in Albera with more than 300 locations across the province
ATB Wealth expansion into areas outside of Alberta
Full-service product lineup including banking, lending, wealth management and capital markets
Competitive product lineup with unlimited banking and a no-fee digital account
Some savings accounts offer better rates than traditional Big Five savings accounts
More competitive loan and lending rates than the major banks
Cons
Primarily services Alberta so it is less convenient for those outside the province
Savings rate are still modest in comparison to digital high-interest savings accounts
Smaller credit card lineup compared to the major banks
Rewards program points are slightly less valuable than those from the bigger banks
Public customer reviews are mixed with complaints about service quality
Pros
Competitive interest rates depending on the plan
Ability to waive monthly fees with a minimum balance requirement
Cash back benefits available on all plans
Access to “thousands” of no-fee ATMs using partners
Provides budgeting tools
Digital-first experience with spending, saving, borrowing and credit-building options all available in its app
Cons
No traditional chequing accounts or investment options
Does not offer mortgages
Does not operate a full-service bank, limiting the products and in-person services available
No deposit insurance coverage from the Canada Deposit Insurance Corporation (CDIC)
Best rates and perks are reserved for higher-level plans
on ATB's website
Welcome Bonus
N/A
Monthly Fee
$0
Account Type
Chequing • Personal
Account Fees
Monthly Fee
$0
eStatement
Included
4 Our rating
on ATB's website
Welcome Bonus
Earn up to $900* for new customers
Monthly Fee
$24.95 (waivable)
Account Type
Chequing • Personal
Account Fees
Monthly Fee
$24.95
eStatement
Included
KOHO Financial Inc. has no chequing account listed.
2.55 Our rating
on ATB's website
Welcome Bonus
Earn total interest of up to 4.60%* for your first 90 days
Regular Interest
Up to 0.6%
Monthly Fee
$0
Eligible clients can get a total interest rate of 4.60%* during their first 90 days from a special bonus of 4.10%.
Best for: Cashback
4.9 Our rating
on KOHO's website
+ New clients can earn 10% cash back* using promo code FW10C26
Limited offer · ends
Welcome Bonus
New clients can earn 10% cash back* using promo code FW10C26
Regular Interest
2%
Monthly Fee
$4 (waivable)
With the KOHO Essential Account, members receive:
Pros
Cons
on ATB's website
Welcome Bonus
40,000 points
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
3.1/5
The ATB World Elite Mastercard offers impressive rewards and insurance coverage, making it ideal for high-income Alberta residents seeking premium travel perks. However, the low point value and high income requirements might limit its appeal for some users.
Pros
Cons
Rewards
The accelerated earn rate applies to the first $50,000 in annual purchases on the account, at merchants qualifying for the accelerated earn rate, per calendar year based on your statement cycle date. The annual spend cap for the accelerated earn rate resets every January. Once the combined cardholder spend exceeds this threshold in these categories, they will continue earning points at the regular earn rate of 2 points per $1 spent in purchases.
Insurance
Coverage
Purchase Protection
Extended Warranty
Car Rental Accident
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Car Rental Damage & Theft
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Car Rental Personal Effects
Travel Medical Insurance (64 & under)
Common Carrier Travel Accident Insurance
Flight Delay
Baggage Delay
Trip Cancellation
Trip Interruption
Lost or Stolen Baggage
Hotel Burglary Insurance
Personal Effects
Price Protection
Benefits
Details
Airport Lounge - Dragon Pass
Car Rental Discount
Boingo Wi-Fi hotspot
Eligibility
Credit Score
Annual Income
on KOHO's website
Finly Special Offer
Welcome Bonus
New clients can earn 10% cash back* using promo code FW10C26
Annual Fee
See Rates
Interest Rates
N/A / N/A
RECOMMENDED CREDIT SCORE
4.9/5
The KOHO Essential Mastercard is an excellent choice for people with poor or no credit who want a prepaid card that offers a few perks, like cash back and interest on balances. However, the rewards and benefits are not as robust as traditional credit cards, though it's an amazing product for credit building, earning interest and simple everyday spending using your own money.
Pros
Cons
Rewards
Benefits
Details
Unlimited e-Transfers
Interest on Balance
Eligibility
Credit Score
Annual Income
