Canada Post and KOHO have launched the Canada Post MyMoney Account. This launched on March 17^th. This is a spending and savings account for everyday needs. There are low-fee and no-fee plans.

KOHO is a Canadian financial technology company that provides online financial services.

Canada Post offices and staff are experienced with handling financial service transactions for customers including domestic and international remittances, money orders, prepaid reloadable cards, and e-vouchers. The MyMoney Account will add to these existing services. This is an opportunity for those who live in small communities that may not have other banking options or for those who have experienced barriers to using traditional banks.

We will be watching how this new partnership works and how this new banking option rolls out.