KOHO Financial vs Toronto-Dominion Bank (TD)

Item: KOHO Financial
Rating: 4.2

A side-by-side comparison of ratings, customer experience, products, fees, and pros & cons to help you choose the right bank.

VS

KOHO Financial

4.2

Open account Read full review

Toronto-Dominion Bank (TD)

3.9

Open account Read full review

KOHO Financial edges ahead on our overall rating (4.2 vs 3.9), but the right pick depends on which products and fees matter most to you.

Overview

Top chequing accounts

KOHO Financial has no chequing account listed.

TD Student Chequing Account

4.8 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Receive value of up to $560 with a Student Banking Package

Regular Interest

Up to 0.01%

Monthly Fee

$0

Account Type

Chequing • Student

Welcome Bonus Details

Get as much as $560 in value with a Student Banking Package:

Cash offering of $125 when you open a new Student Chequing Account and complete two of the following by August 31, 2026:

Arrange a recurring direct deposit and receive payment from either your employer or the Government

Initiate or receive an e-Transfer for $30 or more

Use your Visa Debit to make an online purchase

Establish Pre-Authorized Transfer Service or Simply Save Service on your TD Savings Account

Cash Back Dollars of up to $100 if you open an eligible TD Cash Back Visa before June 29, 2026
Get up $250 in value when you open your first TD Direct Investing Account
Savings of $60 with no monthly fees annually on TD Monthly Plan Overdraft Protection services on a new Student Chequing Account
$25 gift card for Uber when you (a) establish a TD Student Chequing Account and meet eligibility criteria before August 31, 2026 (b) open a qualifying credit card before June 29, 2026. You must also keep the Student Chequing Account and your credit card active for five months after the account opening.

Offer expires June 29, 2026

Highlights

Made for students and youth under the age of 23
No monthly fee on the account or overdraft protection
Free Interac e-Transfers
Minimum balance not required
Interest earned on all balances
Receive 0.5 bonus stars for every dollar of spending at participating Starbucks⁶

Account Fees

Monthly Fee

$0

eStatement

Included

Transactions

e-Transfer Fee

$0

ATM Fees

Own Network

$0

Canadian ATMs

$2

USA

$3

International

$5

Top savings account

Top credit card

All products offered

6 products

Savings

KOHO Core Plan

KOHO Extra Plan

KOHO Everything Plan

Credit cards

KOHO Core Mastercard

KOHO Extra Mastercard

KOHO Everything Mastercard

17 products

Savings

TD ePremium Savings Account

TD Growth™ Savings Account

TD Every Day Savings Account

Chequing

TD Unlimited Chequing Account

TD Every Day Chequing Account

TD Minimum Chequing Account

Open KOHO Financial account Open Toronto-Dominion Bank (TD) account

Compare KOHO with other banks

KOHO vs ATB

KOHO vs BMO

KOHO vs Scotiabank

KOHO vs CIBC

KOHO vs Desjardins

KOHO vs EQ

KOHO vs Manulife Bank of Canada

KOHO vs Meridian

KOHO vs National Bank

KOHO vs Neo

KOHO vs RBC

KOHO vs Simplii Financial™

KOHO vs Tangerine

KOHO vs Wealthsimple

Compare TD with other banks

TD vs ATB

TD vs BMO

TD vs Scotiabank

TD vs CIBC

TD vs Desjardins

TD vs EQ

TD vs Manulife Bank of Canada

TD vs Meridian

TD vs National Bank

TD vs Neo

TD vs RBC

TD vs Simplii Financial™

TD vs Tangerine

TD vs Wealthsimple

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.

Toronto Dominion, known as TD, delivers a strong all-around banking experience through a broad product lineup and extensive branch networks including 1,100 branches throughout the United States. The bank boasts consistency across many categories with few major weaknesses.

Offering a range of banking products, TD has accounts for Canadian newcomers, youth, students, and even international students. It provides banking starting at a cost of $0 for specific groups up to an “All-Inclusive Banking Plan” with premium features and a much higher price tag. Fee waivers are available for those who maintain a certain balance in their account. Long-term savings rates may be less competitive than online banks and fintechs though.

TD has a smaller credit card offering in comparison to some of the other biggest banks in Canada. It does, however, have some strong products, including the TD® Aeroplan® Visa Infinite Card, which FinlyWealth ranks as the best overall Aeroplan credit card.

With a broad lending offering, TD receives recognition for its Canada-US cross-border services as well as various lending products. Its mortgage and lending breadth is amongst the strongest in Canada, though the bank doesn’t always have the lowest rates.

Overall rating

4.2

3.9

Customer experience

3.8

3.2

Best for

Digital users looking for a fintech that combines spending, saving, cash back and budgeting tools.

TD Bank is best for Canadians looking for full-service banking with a vast offering of lending products, premium chequing accounts, branch access and cross-border banking support in the US.

Pros & cons

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

Pros

TD Canada’s mobile app ranks well with consumers
Extensive branch network
Availability of premium banking options and fee-waiver options
Stand-out credit cards despite a limited offering
Promotional pricing periodically available for better rates and rewards
Extensive mortgage and lending offerings with flexible products
Strong retail presence in the United States and cross-border support

Cons

Elevated fees compared to fintechs and digital banks (though competitive amongst the Big Six)
Monthly account fees on most chequing accounts unless minimum balance maintained
Minimum balance waiver set at a higher balance compared to the other major banks
Savings accounts have a lower interest rate, even amongst the Big Six

TD Unlimited Chequing Account

3.9 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Receive up to $750 in value on new accounts(§)

Regular Interest

Up to 0%

Monthly Fee

$17.95 (waived with $4,000 balance)

Account Type

Chequing • Personal

Welcome Bonus Details

Earn up to $750 in value for new TD Unlimited Chequing Accounts.

Interest rates

All balances 0%

Highlights

No limit on transactions
Full fee rebate if you meet the minimum balance requirement of $4,000^{1, 2}
Free Interac e-Transfers³
No charge from TD for ATM transactions within Canada⁵
Paper statement $2.00 monthly
Account holders get a first year fee rebate on eligible TD credit cards⁴

Account Fees

Monthly Fee

$17.95

Fee Waiver: Full fee rebate if you meet the minimum balance requirement

$4,000 min. balance

eStatement

Included

Transactions

e-Transfer Fee

$0

ATM Fees

Own Network

$0

Canadian ATMs

$0

USA

$3

International

$5

Best for: No fee cash back

KOHO Core Plan

4.9 Our rating

GET OFFER

on KOHO's website

Exclusive · From FinlyWealth$75 rebate

+ New clients can earn 10% cash back* using promo code FW10C26

Welcome Bonus

New clients can earn 10% cash back* using promo code FW10C26

Regular Interest

2%

Monthly Fee

$0

Welcome Bonus Details

New KOHO clients can earn 10% cash back in the first 3 months (up to $1,000 in eligible spending, max $100 value)*
Use promo code FW10C26

Highlights

With the KOHO Core Account, members receive:

$0/month, with no conditions, direct deposit requirement, or minimum balance
2% interest earned on their balance
1% unlimited cash back on groceries, transportation, food & drinks
Up to 6.5% extra cash back at selected merchants
Cash advance of up to $500* at 0% interest with Cover
Unlimited transactions
Free instant e-transfers
International money transfers to 190+ countries
Free credit score monitoring
Free Secured Credit Building
Instant virtual card

*Terms and conditions apply.

Pros & Cons

Pros

Interest on balance
No annual fee
Select merchant optimization
Unlimited transactions and e-transfers
International money transfers
Free 30-day trial

Cons

Limited and low cash back
No physical branch access
ATM fees

TD Growth™ Savings Account

2.6 Our rating

OPEN ACCOUNT

on TD's website

Welcome Bonus

Earn the Boosted Rate on eligible accounts with balances over $5,000

Regular Interest

Up to 1.5%

Monthly Fee

$0

Welcome Bonus Details

Earn a Boosted Savings Rate for eligible accounts with balances over $5,000¹

Highlights

Earn a Boosted savings rate for eligible accounts with balances over $5,000¹
Interest a higher rate of interest the more you save
No monthly account fee
Unlimited transfers to your TD deposit accounts ($5 charge for other transactions)

4.9

on KOHO's website

Exclusive · From FinlyWealth$75 rebate

Finly Special Offer

Welcome Bonus

New clients can earn 10% cash back* using promo code FW10C26

Rewards Rate

0% - 6.5%

Cash Back

Annual Fee

$0

Interest Rates

N/A / N/A

RECOMMENDED CREDIT SCORE

300⁎

Poor

560⁎

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Get your free credit score

Our Rating

4.9/5

The KOHO Core Mastercard is a great base-tier option for those who want to collect cash back and build credit with KOHO; all for no monthly fee. Unlock rewards on common purchases, earn interest on your balance, and tap into credit monitoring and secured credit building.

Pros & Cons

Pros

No credit check
Interest on balance
No annual fee
Secured credit building
Unlimited e-transfers

Cons

Low purchase reward rate
Limited benefits

Card Details

Rewards

1% cash back on groceries, eating and drinking, and transportation
2% interest on your entire balance
Up to 6.5% extra cash back at selected merchants

Benefits

Details

Unlimited e-Transfers
Interest on Balance
2% interest
Secured Credit Building
Free

Eligibility

Credit Score
Poor
Annual Income
N/A

TD First Class Travel® Visa Infinite* Card

4.7

Finly Rating

APPLY NOW

on TD's website

Exclusive · From FinlyWealth$50$140 rebate

Limited offer · ends

Welcome Bonus

Earn up to $1,400 in value†, including up to 160,000 TD Rewards Points† and receive an Annual Fee rebate for the first year†.

Rewards Rate

2x - 8x

Points

Annual Fee

$139 $0

Interest Rates

21.99% / 22.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Get your free credit score

Our Rating

4.7/5

The TD First Class Travel Visa Infinite Card is an excellent option for frequent travelers who book through Expedia For TD and want to maximize rewards on travel purchases. The high welcome bonus and extensive insurance coverage make this card stand out. However, the high income requirements and limited value of TD points may not make it the best fit for everyone.

Pros & Cons

Pros

High rewards
First-year fee rebate
Extensive insurance
Annual travel credit

Cons

High income requirements
Low point value
Potentially week booking portal

Card Details

Rewards

Earn 8 TD Rewards Points^†for every $1 you spend when you book travel through Expedia^®For TD^†
Earn 6 TD Rewards Points^† for every $1 you spend on Groceries, Dining, and Public Transit^†
Earn 4 TD Rewards Points^† for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media^†
Earn 2 TD Rewards Points For every $1 you spend on other Purchases made using your Card^† plus earn an annual Birthday Bonus^† of up to 10,000 TD Rewards Points
Earn more at Starbucks: Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.

Insurance

Coverage

Travel Medical Insurance (64 & under)^†
21 days
Travel Medical Insurance (65 to 75)^†
4 days
Trip Cancellation^†
$1,500
Trip Interruption^†
$5,000
Flight Delay^†
$500
Baggage Delay^†
$1,000
Lost or Stolen Baggage^†
$1,000
Common Carrier Travel Accident Insurance^†
$500,000
Car Rental Damage & Theft^†
yes
Hotel Burglary Insurance^†
$2,500
Purchase Protection^†
90 days
Extended Warranty^†
Up to 1 year
Mobile Device Insurance^†
$1,000

Benefits

Details

Visa Infinite Exclusive Benefits^†
Concierge Services^†
Golf Benefit^†
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
Extra points^†
Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.
Annual Birthday Bonus^†
Earn a Birthday Bonus of up to 10,000 TD Rewards Points
Car Rental Discount^†
10% off base rate of Avis Rent A Car and Budget Rent A Car
Travel Credit^†
Get an annual TD Travel Credit of $100 when you book at Expedia For TD
Airport Lounge - Dragon Pass^†
Enjoy your time at the airport with global airport lounge access and 4 complimentary lounge visits with Visa Airport Companion Program