Our verdict
Best for
People pairing an everyday account with credit building, since Neo offers both
Not for
Anyone wanting branch access or a long-established institution
What we like
- Competitive everyday rate with no direct deposit requirement
- No monthly fee and no NSF charge
- Credit cards including secured options sit alongside the account
Where it could improve
- Deposit protection is through partner institutions rather than direct
- No branches
- A younger institution than the incumbent banks, which matters to some savers
Products
One block per product, each with its own numbers. Never blended into a single range.
Good to know: The rate steps up with balance: 2.00% below $5,000, 2.50% to $19,999.99, and 2.75% from $20,000. Neo is not a bank — funds are held in trust with a member institution and the $100,000 CDIC limit is pooled across that trust rather than applied per customer.
Rates and fees for this product are being verified against Neo Financial's published materials and will appear once checked.
Good to know: Pays 0.10% with no monthly fee and no minimum, up to a $200,000 balance cap. Uses the same pooled-trust insurance structure as Neo Savings.
Rates and fees for this product are being verified against Neo Financial's published materials and will appear once checked.
Neo Financial alternatives
EQ Bank
1.00 - 2.75%
CDIC insured directly rather than through a partner, which matters above $100,000.
Full profile ›
KOHO
Up to 3.50%
Higher ceiling if you will pay for a plan tier.
Tangerine
0.30%
A full bank with mortgages and GICs, at a much lower rate.
Alternatives link to our profiles only. Comparing is the point; we send nobody sideways.
Company details
Legal name
Neo Financial Technologies Inc.
Parent
Independent
Regulator
Not a bank; partner institutions hold deposits
Deposit protection
CDIC via partner
Founded
2019
Hq
Calgary, Alberta
