Neo Financial vs Bank of Nova Scotia (Scotiabank)

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.

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

• You are eligible for the Preferred Package for Students and Youth (chequing account) if you are under 25 years of age or are enrolled full-time in a university, community college, or another recognized post-secondary institution in Canada or the United States. You will be required to confirm your student status by providing proof of enrollment.
• No monthly account fee*, unlimited debit and Interac e-transfer transactions
• Earn points on everyday purchases with the Scene+™ program
• Free trades for students and youth with Scotia iTRADE
• Rates, fees and other information are effective as of July 2, 2026. Subject to change.

• Up to $2,300 in first year value¹ when banking with Scotiabank, including up to $580 in value with the StartRight^® Program².
• Waive the monthly account fee for the first year⁵ when you open a Preferred Package chequing account.
• 24/7 banking through the Scotia app, phone, or chatbot, plus over 900 branches across Canada offering help in more than 50 languages.
• Collect rewards on everyday purchases with a Scene+ credit or debit card⁶ and get rewarded with travel, groceries, and more.
• Leverage your credit history from home to apply for a higher credit limit on your Scotia credit card³ with Nova Credit⁴.

How to Qualify for StartRight^®

Qualifications

• Canadian permanent resident for five years or less
• International student
• Foreign worker

Required Documentation

Gather these documents prior to applying:

Permanent Resident

• Resident card or Confirmation of Permanent Residence
• Foreign passport or Canadian government-issued photo ID, like your driver's license

Foreign Worker

• Work permit
• Foreign passport or Canadian government-issued photo ID, like your driver's license
• If applying for a credit card, you'll also need a letter from your Canadian employer confirming your annual income

International Student

• Study Permit (IMM 1442) or Temporary Resident Visa (TRV)
• One additional piece of government photo ID such as your passport or Canadian driver’s licence
• Proof of enrollment from your Canadian Educational Institution such as your Student ID card or your course timetable