Review Time
Do not Engage in business with Neo Financial, untrustworthy organization. I had a three-weeks new Cathay Pacific World Elite Mastercard compromised. Shame on Cathay Pacific partnering with such a poor organization.I believe the fraud came from Neo internally. Neo Financial has weak customer service and is careless with security. Breaches are common with Neo products.
I switched to Neo Financial from Royal bank and have had no end of problems and shortcomings. Specifically:Pre-authorized payments: Neo isn't well known. When you setup pre-authorized payments, most organizations and companies (your hydro, tax, water, cell, internet, etc.) are unfamiliar. This leads to no end of trouble getting them to accept the Transit and Branch # for NEO. When they do accept it, the other parties map it to the wrong institution.ATM fees: Neo does not have an ATM , you must use someone elses ATM and pay the $3- $5 ATM withdrawal fees.There website will tell you that they reimburse those fees , that is a big catch they leave out. Neo will NOT reimburse you unless you sign up for one of their Grow or Build memberships at $5-$13 per month. Neo support is through a very frustrating AI that you will learn to dislike. Getting to a knowledgeable person to get things done is very, very difficult. Information on there services is scattered and difficult to find. Positive things:They do pay a very high interest rate in the savings account, the more money you put in the higher the rate. Neo sends you a text to alert you about every transaction Do I regret switching to Neo? Definitely. it has been vey painful. I should have considered EQ bank. Royal Bank’s info and support are far superior to Neo’s. Why did I switch? I wanted to get a decent high interest savings account, credit card and debit card in one place .Royal’s savings account pays basically nothing . Currently Neo pays up o 3% (Dec.2025).Considering the trouble in switching, I will stay with NEO for now but longer term I will look elsewhere.
I see a lot of bad reviews, of course everyone has their own experiences however I will say that this company is amazing, they are literally one of few companies that give you a card when you are trying to build or rebuild your credit and I'm so grateful, I finally see improvement because of this card and they are flexible with payment options.
The Neo financial Kiosk employees are extremely aggressive in how they approach people — chasing, repeatedly stopping, and persistently bothering passersby. I want to be clear that I don’t blame the individual employees for this behavior. This appears to be a broader neo-financialist sales policy that has been observed and discussed in multiple cities and malls, not a personnel issue. I myself have noticed it across Canada,, clearly they are being told to do this.This kind of high-pressure, approach drives people away rather than attracting customers. It creates discomfort instead of interest. Maybe this isn’t the perfect forum for this feedback, but I wanted to bring it to attention because it’s actively discouraging potential sales, not increasing them.
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Neo is a leading financial technology company that’s building a more rewarding financial experience — empowering more Canadians to take control of their future.
We’re reimagining spending, savings, investments, and mortgages with intuitive, accessible financial tools that help customers get more value out of every dollar they earn, save, and spend.
Recognized as Canada’s #1 Startup by LinkedIn for two years in a row, we work with local retailers, large enterprises, and financial institutions to transform the future of financial services.See more
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