KOHO vs Wise: Fees, Rates & Speed Compared
KOHO
3.8KOHO is a Canadian fintech offering a spending account with international money transfers powered by Wise. Competitive FX rates for Canadian users.
Wise
4.3Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
KOHO and Wise are both popular choices for international money transfers, but they take different approaches. KOHO, founded in 2014 and headquartered in Vancouver, Canada, is best known for transparent, low-cost transfers. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost transfers. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs.
In this comparison
Live comparison: KOHO vs Wise across popular corridors
The table below shows how much the recipient receives when sending through KOHO vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | KOHO | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,077.86 | N/A |
| GBP → EUR(£1,000) | — | €1,149.85 | N/A |
| USD → PHP($500) | — | ₱30,761.99 | N/A |
| USD → MXN($1,000) | — | MX$17,275.70 | N/A |
| GBP → PKR(£500) | — | ₨186,116.83 | N/A |
| USD → NGN($200) | — | ₦270,124.04 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between KOHO and Wise
KOHO vs Wise: Feature comparison
| Feature | KOHO | Wise |
|---|---|---|
| Overall rating | 3.8/5 (Good) | 4.3/5 (Excellent) |
| Fee structure | $1.50 per international transfer | Variable fee from 0.41% |
| Exchange rate markup | 0% - 0.5% (Wise rates) | 0% (mid-market rate) |
| Transfer speed | 1-3 business days | Instant to 2 days |
| Supported countries | 50+ | 80+ |
| Supported currencies | 40+ | 50+ |
| Max transfer | $10,000 | $1,000,000 |
| Payment methods | Bank Transfer (Interac) | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit | Bank Deposit, Wise Account |
| Regulators | FINTRAC | FCA, FinCEN, ASIC |
| Founded | 2014 | 2011 |
Pros and cons
KOHO
Pros
- Wise-powered exchange rates (near mid-market)
- Integrated spending account
- Cashback on purchases
Cons
- Canada only (send from CAD)
- Transfer limits lower than dedicated services
- Fewer delivery options than Wise directly
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose KOHO vs Wise
Choose KOHO if:
- You want the real mid-market exchange rate with no hidden markup
- KOHO's strengths (Bank Deposit) match your needs
Choose Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Wise supports up to $1,000,000)
- You need a multi-currency account to hold and convert balances
- You need a business account for commercial payments
- You need wider country coverage (80+ vs 50+ countries)
Verdict: KOHO or Wise?
Cost: Too close to call
KOHO and Wise are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Faster: Wise
Wise is generally faster, with transfers arriving in Instant to 2 days, compared to 1-3 business days for KOHO.
Wider coverage: Wise
Wise has broader coverage with 80+ countries and 50+ currencies. Wise also offers Bank Deposit, Wise Account.
Bottom line
Overall, Wise edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, KOHO is the better pick if you need transparent, low-cost transfers.
Frequently asked questions
Is KOHO or Wise cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows KOHO and Wise are closely matched on total cost. KOHO charges $1.50 per international transfer with a 0% - 0.5% (Wise rates) exchange rate markup, while Wise charges Variable fee from 0.41% with a 0% (mid-market rate) markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, KOHO or Wise?
KOHO typically completes transfers in 1-3 business days, while Wise takes Instant to 2 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are KOHO and Wise safe to use?
Yes, both are regulated money transfer services. KOHO is regulated by FINTRAC and has a 3.8/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.3/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for KOHO vs Wise?
KOHO has a maximum transfer of $10,000 (minimum $10), while Wise allows up to $1,000,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with KOHO or Wise?
KOHO offers Bank Deposit. Wise offers Bank Deposit, Wise Account. Neither provider offers cash pickup — both deliver to bank accounts only.
Should I use KOHO or Wise to send money internationally?
For most users, Wise offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, KOHO is the better choice if you need transparent, low-cost transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Wise Account.