neofinancial.com Reviews 

Neo banks got not fraud protection and if someone makes a fraudulent purchase on your card you'll never get it back. Don't use neo bank or financial they're not there for you the people. They are there for themselves they don't care. Neo banks a scammer bank don't use it

Great all in one banking app, way better then my old cibc. Seems they care.

Absolutley terrible experience with Neo financial.
First of all the customer support is absolutely useless and rude!!
My account got frozen out of the blue.
I called support waited on hold for almost 30 mins and was greeted with a rude attendant who clearly is angry working for the company. She was very dismissive and extremely rude and talked with an attitude.

I asked why my account was frozen. She couldn't answer that and told me to login to my account and read through there terms. I told her I cant do that cause I cant login cause my account was frozen!! I then asked her how can I access the funds that were still in my account. She still couldn't give me an answer.

So basically I got robbed. Cause I'm yet to receive my funds and yet to recieve a reason as to why that happened.
And a bit of backstory this is the second time its happened. The first time they said it was an error and I got access to it. The second time I got no explanation.

I highly recommend avoiding neo financial. Way better and more efficient banks with better rates compared to Neo.

Thats why you can see the reviews 50% are 1 stars. The 5 stars are probably bots used by Neo to boost their ratings. Absolutely terrible bank

Hello Andrew Chau and team,

It's time to invest in your customers. Neo Financial has appalling customer service — useless. I needed to talk to an agent, and the bot gave me a wrong number with a non-working Yukon area code.

When I finally reached an agent, all they could talk about was signing me up for a mortgage. They couldn't help with my credit card issue and spent 20 minutes trying to find a number for me to reach another agent. The number she gave me was another dead line — it rang for 5 minutes, then just hung up.

I called Neo again using a different number I found on Reddit. That call was a 30-minute phone tree maze that led right back to the chatbot. Eventually, another Reddit-sourced number connected me to an agent in the Caribbean with a poor connection. She told me I had two options: call the fraudulent seller who scammed me and ask for a refund myself (not going to happen), or cancel my Neo card and apply for a new one — losing years of saved autofill data and account history in the process.

I was calling Neo to cancel the fraudulent charge and block the seller from using my card again. Instead, I got zero support. This is a company raking in millions off its customers while offering close to nothing in return.

I had a really disappointing experience at the Neo Financial kiosk on Level 1 of West Edmonton Mall today.

I stopped while walking by and ended up having a brief conversation with one of the employees working there. She was incredibly friendly, professional and carried herself very well. We had only been talking for a few minutes when another employee who identified herself as a manager came over and told me that their supervisor was getting very angry that I was there.

What made the interaction even more uncomfortable was the way the manager repeatedly emphasized that the young woman I had been speaking with “didn’t know anything” because she was still in training. I actually went out of my way to compliment the employee and tell her manager that I never would have guessed she was new because of how professionally and confidently she carried herself.

I then simply asked the manager how her day was going and how long she had worked there. She responded that she couldn’t tell me anything personal about herself. I apologized and explained that I was just trying to be friendly.

To be clear, I completely understand employees having boundaries around sharing personal information or declining to connect with someone outside of work. That isn’t what bothered me. What bothered me was the hostility surrounding what had been a completely normal, friendly interaction and the way a new employee was spoken about in front of me.

I don’t know whether this reflects Neo Financial’s policies or simply the management culture at this particular kiosk, but either way, it left a very poor impression. I walked up having a positive interaction with someone representing Neo and walked away feeling completely turned off from supporting the company.

The one positive was the employee I originally spoke with. She represented herself exceptionally well, and I genuinely felt bad that what had been such a pleasant interaction was handled that way by the people overseeing her.

Extremely disappointing experience with Neo Financial. I had multiple transactions on my account that I did not authorize while I was asleep. The transactions were from a merchant I have never heard of, listed as “GOHAR GRIGORYAN YEREVAN ARM,” totalling approximately $282.76 CAD.

I reported the transactions immediately, but Neo closed my dispute because they claimed the transactions were made through a mobile wallet and therefore the card had previously been authenticated.

What is frustrating is that I did not authorize these transactions, and I have asked Neo to provide evidence showing how, when, and on what device or mobile wallet these transactions were authenticated. Instead, I was told to contact the merchant myself, even though I don't recognize the merchant and Neo has not provided me with the merchant's verified contact information.

The money was also specifically transferred into my account for my wife to purchase groceries. Because of these unauthorized transactions, she was unable to use the funds for the intended purchases.

I understand that fraud investigations can be complicated, but I expected Neo to actually investigate the circumstances rather than simply relying on the fact that a mobile wallet was involved.

I'm still asking Neo to reopen the investigation and provide the authentication and merchant information. As a customer, I should not have to fight this hard to have unauthorized transactions properly investigated.

Very disappointing experience with Neo's dispute and fraud process and for that it deserves a 1 star stay away from this company.

I strongly advise against using Neo Financial. The overall service is terrible, and the credit card product is frustratingly rigid and overpriced.

- Awful Customer Support: The customer service team is the worst part of this company. They are completely unhelpful, slow, and show zero flexibility when you need assistance.
- High Fees & Strict Caps: They charge expensive annual fees that are simply not worth it. On top of that, strict monthly limits on your spending categories stop you from maximizing your rewards the way you want to.
-Zero Account Flexibility: If you want to change your setup, they make it nearly impossible to switch or downgrade to a different credit card tier. Their system is completely inflexible compared to regular banks.

-I do not recommend Neo Financial to anyone. Save yourself the headache and stick to a reputable bank or digital competitor that actually values its customers.

I contacted Neo to request a standard credit limit increase. Instead of increasing my existing limit, Neo opened a second, separate account without my consent.

Sometime after that, I lost the card for my original account and requested a replacement. Instead of sending a new card for that original account, Neo sent me a physical card for the new (unauthorized) account instead. I had no reason to question this — I used the card I was given and paid it off regularly from an external bank account, like normal.

What I didn't realize was that my original account was still open, with no card in my hands to manage it, quietly accumulating interest and fees in the background — the balance eventually reached over $4,200, largely from interest and fees on a card I couldn't even access.

I never checked my credit score during this period. When I finally did, it had dropped from 828 to below 600 — that's how I discovered the original account was still active. I immediately requested a physical card for it so I could deal with it directly. I still never received one.

I eventually settled the debt with Neo Collections in April 2025 — paid $2,146.35 (50% of the balance), and the account was confirmed closed with $0 owing.

In May 2026, I accidentally sent a $270 e-transfer to that closed account. My bank (TD) filed an official reversal request within days. Neo ignored it for 30 days. When I contacted Collections directly, they confirmed I owe nothing — but Support still refused to release my money, claiming it's tied to an "internal ledger balance" from the portion of the debt already forgiven in my settlement. An agent then told me to open a new Neo Chequing account so they could move the funds internally. I did — and Neo backtracked on that too.

Getting an actual answer out of Neo is its own problem. Most support runs through AI, and if you call in, you're often just redirected back to the app to be handled by the same AI. Collections and Support never seem to know what the other team is doing or has told you, so you end up bounced back and forth between them indefinitely. Ask for a supervisor and one is somehow never available — there isn't even a way to book a callback or appointment with one allegedly, even though on the phone i was informed i could do so.

Neo's official written response confirmed I owe $0, but said they don't refund payments made to settled accounts, and that "extra funds" go toward the uncollected balance — the same balance they've already agreed I don't owe.

It's been almost three months. I've just filed with the BBB, escalated to Neo's Complaints Committee, and I'm now taking this to ATB Financial (the card issuer) and the Alberta Ombudsman. I've since worked to rebuild my credit score back into the 730s on my own — but Neo still can't manage to return $270 they've confirmed in writing isn't theirs. A routine credit limit request turned into an unauthorized account that racked up over $4,000 in interest and fees and cost me over 200 points on my credit score, and this company still can't get a simple refund right.

Hello Neo Financial,
I understand you recently received a notification from Interac regarding my recent e-Transfer attempt(s).
On your end, I am replying as soon as possible with the following information:
Yes I was expecting an e-transfer recently.
The e-transfer is regarding purchases from me individually seling my gadgets Macbook Pro and IPhone 17pro
The total amount is $4,990 summing up to $5000

My relationship with the sender is a very well known business owner and a friend of mine and how long I have known them is about 6months and I met them physically too to purchase and trade my gadgets
I am able to confirm that the e-transfer(s) in question is legitimate.
Should you have any further concerns or questions please feel free to contact me immediately or via email.
Regards,
please open my account my rent is in it and i use it to pay my car loan, pay for my lendcare loand and all are pre-authorized debit, this etransfrer are legimate and i have been using my neo account for 3years now and i am not too young to receive $5000 in my account of which i won an asesst worth $25000

This is the second time in a couple of years that NEO financial cannot allow you access to your cash in their savings account. When contacting customer service say be patient. No escalation process and a "don't care don't explain" atittude. This is cash not accessible for over a 12 hour period. Do not put payroll in this fintech. Etransfers through Interac are sketchy and CSR support negligible.

The signup took forever, and their support wasn't clear at all. It was just a hassle getting everything sorted.

Awful card and customer service

Neo Financial refused to dispute a charge that I was wrongfully billed for. I canceled the subscription, yet I was still charged $44.99. I filed a dispute, but they denied it, claiming it was my responsibility to notify the merchant of the cancellation.

The problem is that I did try to contact the merchant, but I couldn’t get a hold of anyone. On top of that, I never authorized this charge. Thankfully it was only $44.99 and not a much larger amount.

After this experience, I’ll never do business with Neo Financial again. Once I pay off my statement in full, I’ll be closing all of my accounts with them.

Before 2022, their card was great and I earned a lot of cashback. Since then, they’ve removed many of their cashback partners, making the card far less rewarding. On top of that, their customer service has been absolutely terrible. In my experience, they don’t seem to care about their customers.

I’ll be staying away from Neo Financial and will continue using my American Express instead.

Transferred funds from my bank which was sent and credited to NEO the same day.

Day 6 and funds have still not been credited which has put me in a pickle as I’m travelling.

Customer support is useless, the app is mostly Ai which is useless and the phone number sends you to the app which is useless - Full circle back to a non solvable problem. And when you do “chat” with an agent, they’re off-shore and basically say the same thing as the Ai so what’s the point?

And they want $125 (approx) annual fee for the World Elite card. What’s that cost for?

What a joke.

I became a Neo customer in order to help to rebuild my credit. The customer experience has been fantastic and I've made real progress toward my financial goals. My interaction with their staff has been excellent. They have all been knowledgeable and personable and it's exciting to see them continue to grow and expand!

Liars!!!!!! They tell you will not affect your credit score. Don’t trust this company!!!! They definitely do a HARD!!!! CREDIT CHECK on your application. Then they want to charge you monthly fees for using your own money on a secure credit card. They tell you that you have been approved, but don’t tell you anything,or what you have been approved for until you. agree to their terms, Unbelievable!!!!

Easy sign up and overall great experience, for those building their credit or those looking to improve their existing one. I signed up initially just to have another account but it has quickly turned into my primary card and source for improving my credit score.

I had to close my account to get access to my funds after a house fire. My funds were to be sent to my account at another financial institution. For two weeks now, Neo has given me the runaround and blown smoke up my backside with numerous different stories and 3-5-day waiting periods. Today, I am told the payment was never made or sent to me, after being told at least twice prior it was sent on another date. They also made me feel as though I was at fault for being impatient when clearly I was correct all along not to trust or believe in them and their so-called word. At this point, I am fed up and am contacting the banking ombudsman and a lawyer. If your gut says they are misleading you, they likely are!!!

Neo Master card had misleading customers. They say you get 4% cash back on recurring payments on utility bills, phone plans, internet and TV services, streaming services, digital games and apps, subscription services,insurance, and gym membership. My Caa insurance is under insurance, all these Years I been getting 4% now they don't honor it they gave me 1% instead. Not happy planning to close account.

I do not recommend Neo Financial at all.

My experience has been extremely frustrating. Customer service does not seem knowledgeable, and every time I contacted them, I received confusing or incorrect information. Their system keeps sending emails with wrong details, even after the account was closed.

I paid off my account in full and closed it, but they continued sending me emails, asking for payments, and even sent me a new card after the account was already closed. I also overpaid, but instead of refunding me properly, they kept asking for small random amounts like $4.95 and $16.45. I kept paying just to avoid more problems, even though the account was already closed.

Another issue is that they seemed to push me toward a card with an annual fee, while saying I did not qualify for the no-fee card. This makes no sense to me, especially when the income requirements appear inconsistent. It feels like they make it easier to qualify for products with fees and harder to qualify for products without fees.

Overall, the experience felt unprofessional, disorganized, and very concerning. Between the incorrect emails, the poor customer service, the continued payment requests after closure, and the lack of proper refund handling, I honestly feel this company operates more like a scam than a real financial business.

I would not recommend Neo Financial to anyone.