MoneyDesk

Neo Chequing

A $0 digital chequing account with free bill payments and pre-authorized debits, optional card access, and trust-based deposit protection.

Visit official website About Neo Financial

At a glance

Monthly fee
$0
Monthly transactions
Unlimited
Monthly Interac e-Transfers
Unknown
Interest
0.1%

Overview

Neo Chequing has no monthly account fee. Its current fee schedule lists electronic funds transfers, pre-authorized debits, and bill payments as free, although risk-based limits can apply.

The account pays an advertised 0.1% annual Neo Earnings rate. Neo does not currently offer cheques or support cheque deposits.

Features and access

Monthly fees and transactions

Monthly fee
$0The normal recurring monthly fee is $0.
Monthly transactions
UnlimitedElectronic funds transfers, pre-authorized debits, and bill payments are free without a stated monthly count; risk-based limits can apply.

Transfers

Monthly Interac e-Transfers
UnknownTransfers are supported with a customer-specific monthly limit, but the included count is unpublished; sends beyond the limit cost $1 each.

Card and payments

Payment card
YesAn optional Neo Money card provides payment access; including two cards for a joint account.

Cash and branch access

Cash deposits
NoPhysical-cash deposits are not currently available; the agreement's cash-deposit terms remain inactive until Neo launches the service.
Cash withdrawals
Mastercard-supported ATMsThe Neo Money card supports domestic and international ATM withdrawals. Neo charges no withdrawal fee; operators can charge fees and customer-specific limits apply.
Branch access
NoNeo presents the account as digitally opened and managed without branch visits.

Cheques and ownership

Cheque writing
NoNeo explicitly states that it does not currently support or offer cheques.
Cheque deposits
NoNeo explicitly states that cheque deposits are not currently supported through ATMs, the app, or the website.
Joint account
YesA two-owner joint account is supported.

Interest

Interest rate
0.1%Neo advertises a 0.1% annual Neo Earnings rate calculated daily and paid monthly; the agreement permits discretionary rate and calculation changes.

Deposit protection

Client funds are held in trust at one or more CDIC-member institutions; eligible trust deposits receive pass-through coverage subject to disclosure requirements, limits, and categories.