What are Neo memberships?

You might already know Neo for credit cards and savings accounts. But what is a Neo membership?

A Neo membership enhances every Neo product you have, unlocking higher savings rates, credit-building tools, waived fees and other perks on top of your card and account rewards. Every Neo user gets access to Essentials, which grants access to no-fee, day-to-day features. As your personal goals change, you can upgrade to Start (coming soon), Build or Grow. Each gives you access to more service features, without needing a new card or account.

Here, we walk through how Neo memberships work and what each step on the ladder includes, so you can find the right fit for you.

How do Neo memberships work?

When you sign up for your first Neo product, you get two things: an account and/or credit card and a membership. The membership you’re on determines the features you can access, beyond your card or account rewards.

Everyone gets Essentials when you sign up for any Neo product. There's no separate enrollment and no monthly fee. Essentials covers your core money management needs: bill payments, receiving Interac e-Transfer® payments¹, and a 2% Neo Savings rate².

You can also upgrade to Start (coming soon), Build, or Grow anytime in the Neo app. Each membership adds perks on top of Essentials—no new card or account required. What you pay (and what you get) changes with your membership.

“Each membership delivers features that help Canadians progress—no matter where they are in their financial journey,” says Colm Casey, Head of Product Marketing at Neo Financial. “It’s a step up. For anyone who wants to improve their financial standing, build credit history, and get more products with Neo, memberships are a fantastic way to do that.”

Neo memberships at a glance

Memberships vary in price, savings rates and perks, but regardless of which you choose, you will get access to:

• Chat and phone support
• Insights and spend tracking
• Joint accounts
• Unlimited bill payments and electronic fund transfers (EFTs)
• High savings account rate

For the full feature comparison, see Neo Financial’s memberships page.

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Neo Essentials: Best for core Neo features at no monthly cost

Essentials is designed for straightforward, day-to-day money management. It includes:

• 2% Neo Savings rate
• Free unlimited bill payments
• Receiving Interac e-Transfer payments for free
• Joint accounts
• Chat and phone support, plus in-app spending and cashflow insights

While Essentials doesn’t come with a monthly fee, beginning January 1, 2027, pay-per-use fees will apply on these transactions:

• Interac e-Transfer send: $1
• Neo ATM withdrawals: $1.50 per transaction
• Non-sufficient funds (NSF) fee: $4.99

Neo Start: Best for getting started with credit and everyday perks

Start is a soon-to-launch membership built for Canadians who want more from Neo: a higher savings rate, free e-transfers and withdrawals from ATMs, and credit tools to help you understand and build your credit history over time. You also get access to our soon-to-launch 0%-interest cash advance.

The Start membership includes everything in Essentials, plus:

• 2.25% Neo Savings rate
• Free everyday transactions: Interac e-Transfer sends, Neo Money ATM withdrawals³ and $0 NSF fees
• Neo Advance⁴ (launching soon), a 0% interest cash advance for when your Neo Chequing balance runs low. On-time repayments will be reported to Canada’s credit bureaus, helping you build credit history
• Soon-to-launch mobile cheque deposits
• 1-day early payday⁵, which lets your get your paycheque up to one business day early when you set up direct deposit to your Neo Chequing account
• Higher limits⁶

Start gives you access to these features for $4.99 per month—but that fee drops to $0 when you set up payroll direct deposits to your Neo account.  

Neo Build: Best for credit-building and higher limits

Maybe you’re new to Canada and need to build your credit history from scratch. Maybe you're a recent grad who’s never had a credit card. Or maybe you’re rebuilding after a tough financial stretch and want a clear path forward to improving your credit history.

The Build membership is built for Canadians looking to actively improve their credit. It includes everything in Start, plus:

• 2.5% Neo Savings rate
• Credit Builder⁷ and credit score monitoring⁸
• Secured credit limit⁹, with security deposits starting at $50
• Increased Neo Advance limits

Starting September 1, 2026, Build comes with a $9.99 monthly fee for new customers. 

Already on the Build membership? Existing users will see fees update on October 1, 2026. If you currently get Build for $0 by keeping $5,000 or more in your Neo accounts, that deposit balance waiver also ends on October 1, 2026. You can still get Build for $0 if you hold a Neo World Elite® Mastercard¹⁰—otherwise, see what's changing at Neo.

Neo Grow: Best for top rates, limits and features

The Grow membership is designed for Canadians who want Neo's strongest savings and premium perks. It includes everything in Build, plus:

• 2.75% Neo Savings rate, Neo’s highest
• Foreign fee reimbursement¹¹ on chequing and credit card purchases
• Priority phone support
• The highest credit limit access across Neo’s credit products

Starting September 1, 2026, Grow comes with a $14.99 monthly fee for new customers. 

Already on Grow? The fee update will rollover to existing Neo members on this membership on October 1, 2026. If you currently get Grow for $0 by keeping $20,000 or more in your Neo accounts, that deposit balance waiver also ends on this date.

A closer look at Neo membership features

Some perks appear across more than one membership. Here’s how it works.

Savings rates by membership

Your Neo Savings rate is tied to your membership. Here’s what this looks like:

Say you hold $20,000 in your Neo Savings account for a full year, without any withdrawals. Because interest is calculated daily and paid monthly, your earnings compound over the year. Here’s an estimate of what you could earn with each membership:

It’s the same balance, the same account—but with Grow, you earn $154 more in a year than on Essentials from interest alone. 

1-day early payday

Bills due before payday? We know how stressful that can be. That’s why with Neo, more than 80% of Neo members consistently receive their pay one business day early.

1-day early payday access is included on Start, Build and Grow. To set it up, add your payroll direct deposit to your Neo Chequing or Neo Everyday account.

Credit-building tools

Start, Build and Grow memberships each include credit score monitoring and a credit builder tool. Build and Grow add access to secured credit cards. Your access to more credit improves with each, though limits are never guaranteed and depend on your account standing.

Which Neo membership is right for you?

Four memberships, one goal: to deliver features that help you move forward in your financial journey. You don’t need the most expensive membership to get value from Neo—the right one is whichever aligns with your goals:

• Stay on Essentials if you want core Neo features at no monthly cost: sending bill payments, receiving e-transfers, and a 2% Neo Savings rate.
• Choose Start if you’re taking your first steps towards building credit history and want to unlock day-to-day perks like higher savings, free e-transfers and ATM withdrawals, and access to Neo Advance when it launches.
• Choose Build if you’re actively trying to build your credit history and want increased Neo Advance limits or a secured limit on your credit card.
• Choose Grow if you want top rates, limits and features: Neo’s highest savings rate, no FX fees on chequing and credit card purchases, and VIP support.

Can’t decide? Learn more about Neo memberships. 

Frequently asked questions about Neo memberships

What is a Neo membership?

A Neo membership is a plan that adds service perks, savings rates, and credit tools on top of your Neo card and account rewards. Everyone starts on Essentials ($0 monthly fee) when they sign up for a Neo product.

Is Neo Essentials really free?

Yes, Essentials has no monthly fee and allows you access to Neo’s products with no additional costs, unlocking bill payments, EFTs, Interac e-Transfer receive, joint accounts, and a 2% Neo Savings rate. Starting January 1, 2027, some pay-per-use fees apply to e-transfers, ATM withdrawals and non-sufficient funds (NSF) on the Neo chequing account. Essentials will not waive these fees. Users will need the Start membership or above to remain fee free on Neo Chequing. 

How do Neo Savings rates work?

Your savings rate depends on your membership. Essentials earns 2% interest, Start gets 2.25%, Build gets 2.5%, and Grow is at the top with 2.75%. With Neo Savings, you unlock high savings rates accessible for everyone, regardless of your starting balance.

Which Neo membership should I get if I want a secured credit card? 

You’ll need the Build or Grow membership. The ability to get a secured credit limit is not available to Essentials or Start members. Build is the better fit if you’re focused on building or rebuilding your credit. Grow includes everything in Build, plus Neo’s highest savings rate, no FX fees and VIP support—so it may be worth an upgrade if you value those extras too.

All Neo credit cards are available with a secured credit limit, giving you the same card benefits, but requiring a security backed limit—starting at $50. Once you open a card with a secured limitcard, you’ll need to stay on Build or Grow to keep using it. You can switch between those two memberships anytime in the Neo app.

Can I switch memberships anytime?

Yes. You can upgrade, downgrade, or cancel your membership anytime using the Neo app. What you pay and the features you access will change with the membership you’ve chosen.