KOHO continues to crack down on the banking industry. BS initiated an initiative to help Canadians fight rising bank fees


Toronto, May 31, 2021 (GLOBE NEWSWIRE) – Canadian Fintech KOHO has further committed to challenging the traditional banking industry by launching the “Fight the Fee” campaign. The plan is designed to respond to the top five banks that have raised account fees and minimum balance requirements during the COVID-19 pandemic.

“Fight the Fee” aims to help Canadians cope with the surge in service and account fees. KOHO will bear up to US$30.00 to cover expenses incurred by its current financial institution due to overdrafts or monthly fees. This offer is applicable to new users who register for KOHO from May 28, 2021.

this week, CIBC, TD and RBC Compared with the same period last year, profit in the first quarter of 2021 increased by 100%, while Montreal Their profits almost doubled. Currently, 53% of Canadians live on salary. The minimum balance of US$5000.00 in order to avoid fees will adversely affect the financial situation of these Canadians who cannot meet this requirement.

“We have seen news reports about the top 5 cost increases. The response to these surges resonated deeply with us. mission KOHO founder and CEO Daniel Eberhard (Daniel Eberhard) said. “This is the type of behavior we have been trying to change. In the past year, the pandemic has affected all Canadians in some way, and now banks are putting more financial pressure on this equation. We want to inform Canada People, they have other ways to manage personal finances. They don’t prioritize profitable alternatives at the expense of their customers.”

About KOHO
KOHO is a financial technology company whose mission is to make the financial system transparent and intuitive. KOHO provides a full-service account with no hidden fees. The account comes with a reloadable prepaid Visa card, cash back for every purchase, and an integrated application that helps users spend wisely and save more. KOHO is not a bank, But can provide banking services through cooperation with various banks and CDIC insurance institutions.

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For more information, please visit www.koho.ca

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