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4.9/5
Our Rating
Best for: No-fee chequing account with cashback
Neo Chequing Account
All the freedom of a chequing account. All the cashback of a rewards card. None of the fees. Stop paying to spend your own money. The Neo Chequing account offers unlimited transactions, free Interac e-Transfers, no monthly fees, no minimum balance, and tiered cashback rates on gas and groceries. Simple, lucrative, and completely fee-free.
Exclusive
Get $100 after spending $1,000*
Neo Chequing Account
4.9/5
Our Rating
All the freedom of a chequing account. All the cashback of a rewards card. None of the fees. Stop paying to spend your own money. The Neo Chequing account offers unlimited transactions, free Interac e-Transfers, no monthly fees, no minimum balance, and tiered cashback rates on gas and groceries. Simple, lucrative, and completely fee-free.
Exclusive
Get $100 after spending $1,000*
Account Details
Offer Headline
Get $100 after spending $1,000*
Monthly Fee
$0
Our Rating
4.9/5
Account Type
Chequing
Account Category
Personal
Institution
Neo Financial
Offer Details
Exclusive Offer: Earn $100 by spending at least $1,000 within the first three months on the Neo Money card or any other Neo credit card.*
Interest Rates
Balance up to $200,000
0.1%
Balance over $200,000
0%
Fees
Account Fees
Monthly Fee
$0
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$0
USA
$0
International
$0
International & Currency
Foreign Currency Conversion
2.5%
Highlights
MEMBERSHIP TIERS
Neo Chequing offers optional membership tiers with added benefits, both free for customers who keep enough on deposit with Neo.
Build — $7.99/month (free with $5,000+ in any Neo account)
- Credit Score Monitoring: track credit score in the Neo app
- Credit Builder: tools and insights to build credit history
- Cash Advance & Overdraft (coming soon): up to $300 at 0% interest, reported to both credit bureaus
- Free ATM Withdrawals: fees reimbursed up to $5/withdrawal, unlimited withdrawals
- Secured Card Fee Waived: $7.99/month fee waived for Build members
Grow — $12.99/month (free with $20,000+ across Neo Chequing and Savings)
Includes all Build benefits, plus:
- No Foreign Transaction Fees: FX fees rebated on Neo Credit Card and Money Card international spend (up to $10,000/month), full rewards kept at domestic rate
- Higher Savings Interest Rate: 2.75% on Neo Savings
- Priority Support: dedicated phone line for Grow members
CASHBACK REWARD LEVELS
Cashback rates on gas and groceries (earned via the Neo Money™ Card) increase automatically based on your Neo Chequing account balance.
Reward Level | Chequing Balance Required | Gas | Groceries | Everything Else
|
|---|---|---|---|---|
Level 1 | $0 | 1% | 1% | 0% |
Level 2 | $5,000 | 2% | 2% | 0.5% |
Level 3 | $10,000 | 3% | 3% | 1% |
On top of the rates above, customers earn an average of 5% (up to 15%) at thousands of Neo partner locations across Canada through the Neo app.
CORE FEATURES
Feature | Customer Benefit
|
|---|---|
Free Interac e-Transfer® payments | Send and receive money at no cost, including scheduled transfers |
Bill payments & pre-authorized debits | Pay bills and set up recurring debits directly from the account |
$0 NSF fees | No fee for insufficient funds — unlike most traditional banks |
Real-time spend tracking | See every transaction instantly with automatic categorization |
Smart budgeting tools | Insights and budget features built into the Neo app |
Instant payments to Neo credit cards | Pay off Neo credit card balances instantly from the same app |
Joint account available | Open a joint Neo Chequing account with a co-owner; both earn cashback independently |
CDIC deposit protection | Funds eligible for CDIC insurance up to $100,000 |
Biometric login & fraud monitoring | Next-gen security including 24/7 monitoring, real-time alerts, and instant card freeze |
Legal
*Limited-time offer. Offer only valid for eligible customers who successfully open a new Neo Chequing account. Limit of one offer per customer, this offer cannot be combined with other promotional codes. Offer is subject to the Neo Rewards Policy and may be amended or cancelled at any time without notice. Third party terms and conditions may apply.
Neo Chequing account is offered by Neo Financial Technologies Inc. (“Neo”). Funds added to Neo Chequing accounts are ultimately held in trust at one or more member institutions of the Canada Deposit Insurance Corporation (“CDIC”). Neo is not a CDIC member institution. Eligible funds held in trust may be protected by CDIC up to applicable limits and subject to CDIC requirements.
The Neo Money™ card is a prepaid Mastercard® issued by Neo Financial™ pursuant to license by Mastercard International Incorporated and is powered by the Neo Chequing account.
Interac e-Transfer® is a registered trademark of Interac Corp. Used under license.
Cashback on gas and groceries is earned through eligible purchases made with the Neo Money™ card. Cashback earn is subject to monthly spend limits. When monthly spend limits are reached, subsequent spending may earn reduced or no cashback. Spend limits reset monthly.
Partner cashback offers are subject to availability and may vary by partner, offer, location, membership status, and promotional period. Average cashback is based on current offers at select partners. Cashback may be limited. See the Neo Rewards™ Policy for complete terms and conditions.
Build Membership is $7.99/month and Grow Membership is $12.99/month. Membership fees may be waived when minimum balance requirements are met. Account balance requirements and membership benefits are subject to change without notice.
Credit score monitoring is provided by TransUnion®. Credit Builder is an educational tool and should not be considered financial advice. Building credit depends on individual financial behaviour including making payments on time and in full. Improvements to credit profile or credit score are not guaranteed.
Foreign transaction fees are automatically rebated for Grow members and are limited to the first CAD $10,000 in foreign spending each month. A foreign transaction fee is charged at the time of purchase and returned after the transaction posts in accordance with Neo policies.
Third-party ATM fees for Canadian-dollar withdrawals made with a Neo Money™ card at Canadian ATMs may be reimbursed up to $5 per withdrawal for eligible members.
Cashback rates, partner offers, and participating merchants may change at any time without notice. Offer availability, reward amounts, and eligibility requirements may vary. See the Neo Rewards™ Policy and applicable offer terms for complete details.
Neo Financial is not responsible for maintaining accuracy of content on this site. Please refer to Neo's site for the latest product details.