Need extra cash? KOHO offers up to $250 in interest-free cash advances with guaranteed approval and no credit checks. But is KOHO right for you? Check out the top features of the best Canadian cash advance apps like KOHO.
The KOHO app offers cash advances for Canadians up to $250.
You can sign up for KOHO Cover for as little as $2 a month with no interest and guaranteed cover (so you can borrow cash even if your credit score is less than stellar).
With regular on-time payments, you can increase your cash advance limit to $250 – though you’ll likely be approved for something closer to $50 as a new user.
Outside of KOHO’s handy cash advance feature, the app offers:
- Credit building (rated Canada’s #1 credit builder according to Forbes)
- High-interest savings account (earn up to 5%)
- Virtual KOHO card (online card useful when traveling or shopping online)
To get started, you’ll need to choose from one of KOHO’s three plans. Access to cash advances (Cover) requires a monthly fee in addition to your membership price.
| 💡PockBox Tip: You can avoid the monthly subscription cost by taking a 30-day free trial or setting up recurring direct deposits, bringing the cost of KOHO’s Essential tier from $4/month to $0/month. |
Get up to $50 (or more) with no interest or credit check >>> Check out KOHO 👈
Is a KOHO cash advance right for you?
KOHO’s cash advance limit of $250 is less than Bree’s impressive $350 but still offers a handy way to cover emergency expenses when you’re between pay days.
However, you will need to pay for KOHO Cover on top of your monthly subscription.
You’re also likely to be approved for $50 to start before you work your way up to the full $250 borrowing limit over time.
With KOHO’s monthly subscription price ranging from $4 ($0 with eligible direct deposits) to $19/month PLUS the cost of subscribing to Cover (starting at $2), you can end up paying quite a bit to borrow $50 or $100.
If you’re looking for other money borrowing options, check out the best apps like KOHO.
What are the best apps like KOHO?
#1 – Bree: Enjoy cash advances of up to $350
Bree is a Canadian financial app that provides interest-free cash advances up to $350, with a notable focus on repayment flexibility.
You can choose your own due date, extending up to 30 days, without being stung with late fees or interest charges.
The app promotes itself as free, which is technically accurate, but not entirely transparent.
Bree charges a monthly subscription fee of $2.99, though the first month is free and you can access cash advances for free by emailing Bree and requesting access.
If you opt for express delivery of your cash advance, you’ll also need to budget for an additional fee, ranging from $9.99 to $22.99 depending on the amount you borrow.
Bree securely connects to your bank account via Plaid, ensuring your information remains protected.
While the advertised maximum cash advance is $350, new users may qualify for a much lower amount. However, consistent, on-time repayments can gradually increase your borrowing limit.
Overall, Bree offers a convenient solution for short-term cash needs, but the hidden subscription fee and express delivery charges make it essential to weigh the costs against the benefits before committing.
Get a no interest cash advance for up to $350 >>> Check Out Bree 👈
| Pros | Cons |
| ✓ Easy to sign up and apply | ✘ Instant transfer fee applies |
| ✓ $0 plans available | ✘ Subscription for Cover is required on top of monthly subscription |
| ✓ 0% interest | |
| ✓ No credit check or late fees |
#2 – Nyble: Get up to $150 at 0%
The Nyble app offers a line of credit (also called Cover) up to $150.
You’ll probably qualify for closer to $30 to start but you can increase your borrowing limit with on-time repayments.
There’s no credit check to qualify so you’re not left in the cold if you’re building or rebuilding your credit score. By accessing a line of credit, you’re able to cover emergency expenses AND work towards boosting your credit score.
By paying on time, your payments are automatically reported to the credit bureau on a monthly basis which may improve your credit score.
Like KOHO, the Nyble app has a monthly membership which costs $11.99 which is significantly more than KOHO’s Essential plan (priced at $4/month but available for $0/month with eligible recurring deposits) though you can try a month for free.
Get up to $150 in five minutes >>> Check out Nyble 👈
| Pros | Cons |
| ✓ Access a line of credit between $30 and $150 | ✘ Both on time and late payments are reported |
| ✓ May help build your credit | ✘ Smaller borrowing limit compared to other cash advance apps |
| ✓ No interest or late fees | |
| ✓ Instant funding available |
#3 – Woveo: Interest-free lines of credit up to $500
Woveo is a relatively new app that lets you borrow up to $500 from a pooled savings fund while potentially improving your credit score.
After creating an account, you can invite your friends or community members to contribute to a central savings fund. This pool of money creates a peer lending product for group members to borrow against.
There are two Woveo two plans to choose from:
- Freemium ($0/month): Includes one group savings goal, credit score monitoring, and instant transfers starting at $2.
- Premium ($10/month): Includes unlimited group savings, credit score monitoring, free instant transfers and cash advances.
As a community finance wallet, Woveo reports your on-time payments to the credit bureaus. This may help you (or your group members) to improve a sub-par credit score.
| 💡PockBox Tip: Woveo’s cash advance feature is advertised but not yet live. If you’re looking for an app that can help you cover expenses until payday, you’ll need to check out Bree, KOHO, or Nyble. |
| Pros | Cons |
| ✓ Get started with no credit history | ✘ $10 membership is more expensive than some other cash advance apps |
| ✓ Interest-free lines of credit up to $500 | ✘ Woveo is relatively new so services and product details remain limited |
| ✓ May help build your credit |
#4 – Wagepay: Cash out up to $1,500 of your wages early
With wagepay, every day can be payday.
As a pay advance solution for Canadians, the wagepay app lets you cash out up to $1,500 of your earned wages early.
There’s no credit check to access the cash out feature. Instead, Wagepay will analyze your primary bank account and assess your transaction history. Once approved, you can quickly receive funds via an Interac e-transfer.
Repayments are made when you receive your next paycheck, so everything is automatic. Your employer won’t be notified or be required to opt into a wage advance program, so you can borrow 7 days a week, 365 days a year without your boss knowing.
There’s no fee to get started and no late fees or NSF fees to worry about. Fees depend on how much your borrow (starting at $100) and include:
- Maximum 8% flat fee of withdrawal
- 24% interest p.a. On all drawdowns
With practically instant funding (this may be as little as 60 seconds), you’ll be able to access your funds significantly faster than a Bree cash advance which comes with an eye watering express fee of $29.99 for advances of $350.
Cash out up to $1,500 of your wages early >>> Check out Wagepay 👈
| Pros | Cons |
| ✓ Access your earned wages before payday | ✘ Interest fees apply |
| ✓ Cash out up to $1,500 early | ✘ Eligibility criteria may disqualify some users |
| ✓ No late fees | |
| ✓ Employer doesn’t need to know |
#5 – Spring Financial: Online financing solutions for Canadians
Spring Financial offers fast approval and funding to Canadians (minimum 19 years of age) who may not qualify for a traditional bank loan with personal loans from 9.99%.[efn_note]Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. You may be required to have some of your funds sent directly to pay off your credit cards. This rate includes an autopay APR reduction of 0.5%[/efn_note]
Spring Financial operates exclusively online, eliminating the need for traditional bank visits when you’re seeking a personal loan.
What makes Spring Financial stand out:
- Interest rates starting at 9.99%*.[efn_note]Spring Financial Inc. provides loans up to $35,000 with interest rates ranging from 9.99% to 46.99%, and terms from 6 to 60 months. APRs on such loans range between 10.8% to 46.99%. Your actual rate will depend on a variety of factors such as your credit score and the loan amount.[/efn_note]
- Loan amounts between $500 to $35,000.
- Apply online in minutes (skip the branch visits)
- Same day approvals and receive funds by e-transfer
- Terms from 6 to 60 months (no fees for early repayment)
- Seamless online experience (phone, text or live chat support)
Spring Financial loan products cater to a diverse range of needs:
- Personal Loans: Borrow up to $35,000 with every loan repayment being reported to the credit bureaus to potentially increase your credit score. Funds are available the same day with no penalties or hidden fees for early repayment.
- Foundation Loan: 100% approval rate for all applicants. Make small payments over 12 months with each payment reported to the credit bureaus. At the end of the 12 months, you’ll have $750 available as your savings and be guaranteed approval for the Evergreen loan.
- Evergreen Loan: Access a $1,500 loan at 18.99%. Once you pay it off, you can access another $1,500 at the same rate. Each payment is reported to the credit bureaus so you may potentially boost your credit score.
Spring Financial welcomes all credit levels and applying won’t affect your credit score so you may have options even if you’re dealing with less-than-perfect credit.
See what you qualify for >>> Check out Spring Financial 👈
| Pros | Cons |
| ✓ 100% online (no face-to-face application) | ✘ May be offered a credit builder loan before a personal loan |
| ✓ Established Canadian lender | ✘ Potentially high interest |
| ✓ No prepayment penalties |
#6 – Neo: AI-enabled app to help you do more with your money
Founded in 2019, Neo offers AI-powered tools and digital financial products with no physical brick-and-mortar locations.
Neo’s most popular products include a pair of credit card options with cashback rewards at over 10,000 partners across Canada.
Although Neo doesn’t offer a traditional cash advance product like Bree, you can use your Neo card to help cover unexpected expenses – with a bunch of added benefits.
Neo Mastercard ($25 Sign-up Bonus)
With the Neo Mastercard, you can enjoy a credit limit up to $10k and earn cashback up to $680[efn_note]Eligible cashback spend cap for all other purchases is $1,666 per month. After monthly spend caps are reached, subsequent purchases earn 0% cashback. Caps are reset monthly.[/efn_note] at thousands of Neo partners so you can save on gas, groceries and more — all with no annual fees.
Here’s how to get set up:
- Apply for the Neo Mastercard
- Open a FREE Neo Everyday account (only takes a few minutes)
- Top up your Everyday account balance to earn cashback
Your cashback amount is tied to your Everyday balance.
For example, you’ll earn 1.5% on gas and groceries with $1,000 in your Everyday account. Increase your Everyday account to $5,000 and your cashback rewards go up (3% on gas and groceries and 1% on everything else).
Try the Neo Mastercard today and get a $25 sign-up bonus.
Sign up today and claim your $25 bonus >>> Neo Mastercard 🔥
Secured Neo Mastercard (Guaranteed Approval and $25 Sign-up Bonus)
Voted Canada’s best secured credit card, Neo’s Secured Credit card offers instant guaranteed approval[efn_note]Conditions apply. Must 1. be the age of majority in your province or territory of residence; 2. be a Canadian resident; 3. provide security funds.[/efn_note] and cash-back rewards – a rarity for secured credit card options.
There’s no hard credit check to apply and instant approval no matter your credit score. With no annual fees and the ability to set your credit limit, you’re given more options and control to help you avoid falling into bad spending habits.
While plenty of secured credit cards require security deposits of $300 (or more), the Neo Secured Credit Card stands out for its low security deposit of just $50.
The Secured Neo Mastercard has a monthly fee of $5.
As a cashback card, Neo’s 10,000+ partners also provide up to 5% back on select purchases with partners including Amazon, Netflix, Canadian Tire, Lululemon, Zara and more.[efn_note]Cashback earn subject to monthly spend limit. After monthly spend limit is reached, earn rate decreases for subsequent purchases. Spend limit resets monthly. Minimum Neo Everyday account balance required to earn the highest rate. For more information, visit the Neo App. The Neo Rewards™ Program, including cashback, is operated by Neo.[/efn_note]
Like the Neo Mastercard, your cashback amount is tied to your Neo Everyday account. The more money you have, the higher your cashback rate.
Plus, you’ll get a $25 bonus when you sign up for Neo!
Neo reports to Canada’s consumer credit bureaus, Equifax and TransUnion, which may help you build your credit by making everyday purchases and on-time payments.
Enjoy $25 sign-up bonus + cashback rewards >>> Neo Secured Credit Card 🔥
| Pros | Cons |
| ✓ Multiple credit card options to choose from. | ✘ No traditional cash advance product |
| ✓ Enjoy up to $680 in cashback | ✘ No physical branches (live chat is available daily) |
| ✓ Wide range of banking products |