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Email thisWebsite: https://www.neofinancial.com/
Headquarters: Calgary, Alberta
Parent company: n/a
Credit union? No
Available to Quebec residents? Yes
Online banking: Yes
Founded in: 2020
Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.
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Latest discussions about Neo Financial -- view all
| Forum/Topic | Started | Last post | Posts |
|---|---|---|---|
|
Neo Financial |
March 18, 2026 |
March 18, 2026 |
2 |
|
Neo Financial |
December 4, 2025 |
February 13, 2026 |
36 |
|
Neo Financial |
January 10, 2026 |
January 10, 2026 |
2 |
|
Neo Financial Neo Savings account now has tiered rates based on account balance |
October 30, 2025 |
November 19, 2025 |
8 |
|
Neo Financial |
October 7, 2025 |
October 7, 2025 |
1 |
Customer service: Rated 1 / 5 stars
Account features: Rated 1 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 13 months
Why do you bank with them?: Interest rate
What do you like about this bank / credit union?: Nothing
What could be improved about this bank / credit union?: Customer service and app errors / app glitches.
General comments: This is an update 13 months later. I'm in the process right now of shutting everything down with Neo. I want to get TFO. The updated problems started when I called customer service to report an app error I get when I click "Chat". The chat feature is very important to reach out to customer service or talk to the Neo AI assistant for questions. I would get an Error 423 message and account locked message. When I called customer service, the rep said my account is not locked and nothing she can do. She didn't want to make a ticket to IT department and said straight she will not take my feedback either. After that the conversation got heated. When I asked her to close my credit card account the call was disconnected. I called Neo back to report the agent; same rep answers and I recognized her voice! I asked her to spell the name and as soon as she heard me the call was muted and about 30 seconds later line disconnected. Finally, on the 3rd call I was able to have the agent reported but they still refused to spell out her first name to me that it goes against their privacy policy to spell out a first name. On top of all that, the app issue is still not resolved. I do not trust Neo Financial. Stay clear from them. I'm ending relations with them as soon as the funds get moved. -The only thing I did like was their app (But now with the horrible CS and UI issues it's not worth the hassle). I don't trust them.
Review by Lucas — March 1, 2026 @ 7:43 am
Customer service:
Account features: Rated 4 / 5 stars
Interest rates (consistency and amount): Rated 4 / 5 stars
Fees: Rated 5 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 5 / 5 stars
How long have you banked with them?: Over a year
Why do you bank with them?: Great UI/UX, has most features expected from a bank, decent interest rate, fast transfers.
What do you like about this bank / credit union?: Feels quick and modern. Systems work well. Allows for a reasonably large number of accounts (10). Feature set is comprehensive. Interest on deposits is paid as soon as the transfer is initiated. They have some neat advanced features that few other banks provide, like Interac sender profile. Very little need to communicate with CS to get what you need.
What could be improved about this bank / credit union?: Relies on a phone number for 2FA and doesn't even support VoIP numbers, really should be using TOTP (authenticator). Doesn't support cheque deposits.
General comments: Neo is one of the most well-rounded virtual bank, especially in Quebec. It would be my primary bank if they did support cheque deposits and authenticator 2FA, but as they don't, I only used it to park my emergency fund when they had the highest HISA rate
Review by The Bankthusiast — October 1, 2025 @ 10:36 pm
Customer service: Rated 1 / 5 stars
Account features:
Interest rates (consistency and amount):
Fees:
Interface (online, telephone, in-person, etc.):
How long have you banked with them?: 48hrs
Why do you bank with them?: App is good.
What do you like about this bank / credit union?: Their app.
What could be improved about this bank / credit union?: Account Freezing and False Positive Fraud Detection when making Deposits
General comments: I want to report what happened with Neo. Neo froze my account within 48hrs of account opening. All I did was link 6 external accounts and conducted 2 deposits via bank transfer and 2-3 eTransfer deposits. Only deposits were made. No withdrawals made. Few hours later they send me an email threatening they will close out all of my accounts within 30 days if I don't send all 6 bank statements to prove the linked accounts are mine. During the account freeze I had no login access to even check my balances. Customer service when you call knows nothing. The only way to talk is by email with their fraud department. It resolved by 12pm the following day after they got what they wanted. This is just a warning to anyone thinking to open with Neo.
Review by Lucas — February 5, 2025 @ 9:39 am