Neo Financial

Avg. Rating: 5.0 (1 review)

In a country where the Big Five banks own 90%+ of the market share, Neo was created to bring much-needed innovation and choice to consumers in Canada. As a digital-first alternative in Canada’s banking landscape, their technology is designed to simplify finances and create rewarding experiences for all Canadians.

Neo Financial is a team of 200+ focused on creating rewarding experiences for their members when they spend and save. Best of all, they make it all work seamlessly with your daily routine and lifestyle.

It currently offers Canadians access to an innovative no fee cash back credit card (Neo Card) and a high-interest savings account (Neo Savings).

Neo reimagines the way people spend, save and earn rewards. They help you make the most out of your time and money by building from the ground up using today’s technologies.

Right now, they are offering a $25 cashback bonus to all new customers that are approved for the Neo Credit Card. Sign up for the offer!


  • TIME IN BUSINESS: Since 2019
  • # OF CUSTOMERS: Thousands
Visit Site & Sign Up

Calgary, Alberta
Call Center:
Support Offered:
  • Online Inquiry Submission
  • Blog
  • Online Member Portal
  • FAQs
  • App: Google Play or App Store
  • Social Media
Availability: All of Canada, except Quebec

Products Offered

Below are all the products offered by this company.

Neo High Interest Savings Account

Neo Savings does everything an everyday bank account does but earns a higher interest rate. No minimum balances or monthly fees. Simply pay bills, make Interac e-transfers, deposits and withdrawals, all from one
convenient place.

Eligibility Requirements:

Neo Savings targets all Canadians, with the exception of Quebec (coming soon), with the majority of age for each relevant province.


  • Earn one of the highest interest rates on savings in Canada (1.30%),
  • Make bill payments, send and receive Interact e-Transfers, and make bank to bank transfers to and from existing bank account – all with no monthly fees or minimum balances and unlimited free transactions
  • Manage everything from the phone app, whenever and wherever.

Neo Credit Card

The Neo Card is the everyday credit card that rewards daily spending. With no annual fees, customers can gain all the perks of spending smarter and getting more out of their money, without any strings attached.

How Does It Work: 

  • Everything is 100% digital – applications get approved in less than three minutes via the mobile app or web portal, load it into Google Pay or Apple Pay digital wallet to start using it, and then the physical card will be mailed afterwards.


  • Earn an average of 4-6% cashback at thousands of local and national Neo Financial partners and businesses, including most major gas and grocery stores, restaurants, gyms, coffee shops, and more.
  • Guaranteed 1% cashback on all purchases


Frequently Asked Questions About Neo Financial

What is Neo Financial?

Neo is a Canadian digital challenger bank. Neo financial is a tech company that reimagines the way people spend, save and earn rewards. They use technology to create custom solutions that help you do more with your money.

How does Neo Financial work?

Spend, save, and get rewarded with the Neo Mastercard and Neo Savings account, accessible through their app or online banking.

Is Neo Financial safe?

Neo is a team of 200+, focused on creating rewarding experiences for their members when they spend and save. The Neo Savings account is provided by Concentra Bank, a CDIC member institution, and is eligible for CDIC deposit protection. Neo Financial is backed by ATB Financial, a financial institution in Alberta with assets of over $55.1 billion.

How is Neo Financial different?

Neo is doing things like not charging monthly fees and paying very good interest rates on savings, as well as not dinging users when they go overlimit on their credit card, as well as making it super easy to sign up for an account (without needing to go into a branch).

What are Neo Rewards like?

Neo Rewards provides exclusive offers and an average of 4-6% cashback from the places everyone loves. Such as visiting a favorite local coffee shops or restaurants, fueling up for gas or hitting a fitness class. 

Who is the Neo Credit Card for?

The Neo Card targets all Canadians, with the majority of age for each relevant province. It serves the savvy spender, the experiential/local shopper, the early adopter and tech enthusiast, the credit builder, and the consolidator/automator. The Neo card guarantees 1% cashback on all purchases.

What is Neo Savings?

The Neo Savings account works like an everyday bank account. You can pay bills or deposit and withdraw funds — and earn high-interest while you're at it. Get the most out of your money with unlimited free transactions and no monthly or annual fees.

Who can use Neo Financial?

You need to live in Canada, have a Canadian photo ID and be the age of majority in your province to apply for Neo. The Neo Mastercard accepts a range of credit scores.

How do I apply for the Neo Credit Card?

To start, download the app and start the online application to see whether you pre-qualify. To be eligible for this card, you must have a valid government-issued ID and be the age of the majority in your province.

Is there an annual fee on the Neo Credit Card?

No. There is no monthly or annual fee for the Neo Cash Back Rewards Mastercard.

Neo Financial Reviews

Avg. Rating: 5.0 (1 review)
Quick approval

I got approved for the credit cards within a few minutes. Loving the 5% cashback I get in my favorite stores.


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