Neo is built to help you move forward
We're evolving Neo to help you access more credit, build your credit, and get more from your membership. Here's what's changing starting in October 2026.
You've told us what matters: higher credit limits, more opportunities to grow your credit, and memberships that do more for your money. We're making changes across Neo to deliver more of that.
Starting in October 2026, some of what you use today will work differently, and some fees will be updated. We're introducing new credit tools and membership options, while changing how rewards and Neo Savings rates work.
Together, these changes are designed to make credit growth a bigger part of what you can get from Neo.
How Neo is evolving
Credit that moves with you
We're making it easier to get higher credit limits and build credit with Neo. Soon, we're launching Neo Advance: a cash advance with 0% interest that builds credit history when you use it. Coming after will be recognition of your rent and bills, so payments you already make can count toward credit progress1.
Neo Mastercard focuses on credit access
To provide faster growth of credit limits, we're focusing the Neo Mastercard specifically on credit access. As part of this change, everyone with a Neo Mastercard—including those with secured credit limits—will soon get an offer for a higher credit limit2.
Memberships that scale
We're expanding our memberships to give members more ways to get ahead financially. The new Neo Start membership is coming soon1, and it'll be $0 when you deposit your pay with Neo. With Neo Start, you'll get credit building tools (like Neo Advance) and features to track your credit progress and manage your daily money.
Build and Grow will continue to bundle the best rates, limits, and tools that matter as you grow. Some membership fees will update to reflect this on October 1, 2026.
Neo Savings rates will also depend on your membership—not only how much you've saved. So you don't need to have huge savings to get the best rate.
Our focus is on financial progress
These updates change how memberships, credit, and everyday account features work together—so we can say "yes" to higher limits and financial progress for all Neo members.
And this isn't a future promise. We've given out over 70,000 credit limit increases in 2026. In 2027, we're working to make credit growth faster and easier. These changes will help more members reach their next financial milestone.
We've made these changes based on what users have told us is important. Want to share your thoughts on these changes? Shape the future of Neo here.
Memberships made for how you use Neo
Essentials keeps core day-to-day spending free. Paid memberships (Start, Build, and Grow) bundle more benefits as you do more with Neo, including Neo Advance when it launches.
Here's what's changing and what each membership includes after October 1, 2026.
Essentials
Free
- Core day-to-day features stay the same. Get Neo's core products for free.
- Earn 2% interest3 on your savings.
- The no-annual-fee Neo Money™ card will continue to earn cashback from gas and grocery4, along with cashback offers at Neo partners.
- Some actions outside that core will be pay-per-use or included with paid memberships.
Start (coming soon)
$0 with any payroll deposit, or $4.99 / month
- Coming soon and free when you deposit your pay with Neo.
- Interac e-Transfer® payments and mobile cheque deposit.
- Higher limits and no NSF fees.
Build
$9.99 / month (previously $7.99)
- Credit score monitoring5, credit builder tool6, insights, and ATM reimbursement when you use a Neo Money card7.
- Increased access to limits for Neo Advance and Neo's credit cards8.
Grow
$14.99 / month (previously $12.99)
- No FX fees9
- Highest savings rates and highest limits for Neo Advance and Neo's credit cards8.
- Tools that scale as you use Neo.
| Membership | Neo Chequing fees waived? | Neo Advance |
|---|---|---|
| Essentials (free) | N/A | No |
| Start (coming soon) | Yes | Up to $100 |
| Build | Yes | Up to $300 |
| Grow | Yes | Up to $500 |
Neo Chequing account
Starting January 1, 2027, new fees apply to Neo Chequing and Neo Savings accounts. However, there are no fees if you have a Neo membership.
| Fee | Before | After Jan 1, 2027 |
|---|---|---|
| NSF fee | $0 | $4.99, or $0 with a Neo membership |
| Cash withdrawal fee with the Neo Money card | $0 | $1.50, or $0 with a Neo membership |
| Interac e-Transfer® send fee | $0 / transfer | $1 / transfer, or $0 with a Neo membership |
Neo Savings account
You can continue to get Neo's top savings rate without needing a higher balance. Starting on October 1, savings rates will only be based on your membership3, not how much you save. If you're getting a free membership from your savings balance, then the monthly fee will apply starting on October 1.
| Essentials | Start (coming soon) | Build | Grow |
|---|---|---|---|
| 2.0% | 2.25% | 2.5% | 2.75% |
Neo Mastercard focuses on building credit
We heard that credit building and higher limits is important for Neo Mastercard cardholders. That is why we are making it easier for cardholders to get higher limits.
To do this, cashback on gas and groceries on the Neo Mastercard is ending October 1, but you can continue to earn cashback from offers at Neo partners.
You'll continue earning cashback on eligible gas and groceries until October 1, but the cashback may be paid the first week of October for any earnings in September.
1% cashback on gas and groceries is still available for everyone with the Neo Money™ card4, which is free with a Neo Chequing account.
Rewards for the Neo World Mastercard® and Neo World Elite® Mastercard don't change.
Updates to agreements
To support these changes, some agreements for the Neo Mastercard, Neo Chequing account, and Neo Savings account are being updated on October 1, 2026.
Here's more information about the changes to agreements → support.neofinancial.com/articles/16726797
More about these changes
When do these changes take effect?
Most changes take effect October 1, 2026, including updates to the Neo Chequing, Neo Savings, and Neo Mastercard agreements. Changes to Neo Chequing account fees take effect January 1, 2027. These fees will be waived for anyone with a Neo Start, Build, or Grow membership.
Do all changes apply to me?
No. What changes for you depends on which Neo products you have and which membership you're on. For example, Neo Mastercard reward updates only apply if you have a Neo Mastercard. Build and Grow fee updates only apply if you're on one of those memberships. Neo Chequing fee changes apply if you have a Neo Chequing account—and the fees are waived if you have Neo Start, Build, or Grow. More details are coming soon about changes to the Everyday account.
What's changing with Build and Grow memberships?
New features are coming to Build and Grow, starting with Neo Advance. We'll continue to let members know as we add more features.
Monthly fees will change on October 1, 2026:
- Build: $9.99/month (previously $7.99)
- Grow: $14.99/month (previously $12.99)
Today, some members get Build or Grow for $0 by keeping a certain balance in their account. Starting October 1, 2026, memberships will no longer be available for $0 based on savings balances. If you have a World Elite® Mastercard with Neo, you'll continue to get Build for $010.
What stays free on Essentials?
Essentials will remain a $0 membership for core day-to-day use. With Essentials, you can still:
- Use Neo's core products with no membership fee
- Earn 2.0% interest3 on your Neo Savings
- Earn cashback on gas and groceries with the no-annual-fee Neo Money™ card4, plus cashback through offers at Neo partners
By bringing your pay to Neo, you'll be able to get the Neo Start membership for $0. Neo Start will include Interac e-Transfer® payments, Neo Advance, and more.
How do the new Neo Chequing account fees work?
Starting January 1, 2027, new fees will apply to some Neo Chequing transactions:
- NSF fee: $4.99, or $0 with Neo Start, Build, or Grow
- Cash withdrawal fee with the Neo Money card: $1.50, or $0 with Neo Start, Build, or Grow
- Interac e-Transfer® send fee: $1 per transfer, or $0 with Neo Start, Build, or Grow
These fees are waived if you have Neo Start, Build, or Grow. Neo Start is coming soon and will be $0 with any payroll deposit to Neo Chequing, or $4.99/month without a payroll deposit.
How are Neo Savings rates changing?
Neo Savings rates will stay the same. What's changing is how your rate is determined. Starting October 1, 2026, your rate will depend on your membership, not how much you save. You won't need a higher balance to get Neo's top savings rate—you'll need the membership that includes it. If you currently get a membership for $0 by saving more than $5,000, you'll begin paying the monthly membership fee on October 1.
What is Neo Start, and how do I get it for $0?
Neo Start is a new membership coming soon. It includes:
- A $0 monthly fee with any payroll deposit to Neo Chequing, or a $4.99 monthly fee without one
- Interac e-Transfer® payments and mobile cheque deposit, which is coming soon
- Access to higher credit limits8 and no NSF fees
- Neo Advance when it launches
- Waived Neo Chequing fees
By bringing your pay to Neo, you can get Neo Start for $0.
What is Neo Advance?
Neo Advance is coming soon. It's a cash advance with 0% interest that you can use when your Neo Chequing balance runs low. It also helps you build credit history as you use and repay your advance. It will be included with Neo Start, Build, and Grow when it launches.
What's changing with Neo Mastercard rewards?
We heard that building credit and getting higher limits are important to Neo Mastercard cardholders, so we're focusing the Neo Mastercard on credit access instead of rewards. Cashback on gas and groceries with the Neo Mastercard will end October 1, 2026. You'll continue to earn cashback through offers at Neo partners.
Please note: cashback on eligible gas and groceries with the Neo Mastercard will continue until October 1, but the cashback may not be instant. Any cashback earned on eligible gas and grocery purchases from the month of September will be added to your Rewards Wallet in early October.
You can still earn 1% cashback on gas and groceries with the no-annual-fee Neo Money™ card4, available with a Neo Chequing account. Rewards for the Neo World Mastercard® and Neo World Elite® Mastercard aren't changing.
Can I switch, downgrade, or cancel my membership?
Yes. You can upgrade, downgrade, or cancel your membership in the Neo app at any time11. When you change memberships, what you pay and the features you get will also change. This may include your Neo Savings rate, Neo Chequing fee waivers, and access to credit tools such as Neo Advance, credit monitoring5, and the credit builder tool6.
If you have a secured credit card, then you'll need the Build or Grow membership to continue using your card. If you want to downgrade, then you'll need to pay your balance and close your card.
What if I don't agree with these changes?
If you don't agree with these updates, you can close your account. Continuing to use Neo after October 1, 2026, means you accept the updated agreements.
What's changing with the agreements?
We're updating the agreements that govern the Neo Mastercard, Neo Chequing account, and Neo Savings account. The updates reflect how memberships, credit, and everyday account features will work together after these changes. Learn more about the agreement changes at support.neofinancial.com/articles/16726797.
Legal stuff
The Neo Chequing and Neo Savings accounts are offered by Neo and funds are ultimately held in trust at a CDIC member institution. The Neo Mastercard, Neo World Mastercard®, Neo World Elite® Mastercard and Neo Money™ card are issued by Neo Financial™ pursuant to license by Mastercard International Incorporated. Mastercard, World Mastercard, World Elite, and the circles design are registered trademarks of Mastercard International Incorporated. Interac e-Transfer is a registered trademark of Interac Corp. Used under license.
1 Neo makes no guarantees regarding the future availability, performance, or pricing of this feature. This feature is not yet launched, and release dates are subject to change. Any terms, conditions, or warranties applicable to this feature will be set out in the account agreements as updated or amended from time to time.
2 Conditions apply. Offers for credit limit increases are only available to cardholders in good standing.
3 Earnings for the Neo Savings account are derived from the interest Neo earns on the funds. Neo shares interest at the advertised rate of return for the Neo Savings account, and earnings are calculated daily on the total closing balance and paid monthly. Interest earnings are paid at Neo's discretion. Current interest rates available here. Rates are per annum and subject to change without notice.
4 Cashback earn subject to monthly spend limit. When monthly spend limit is reached, subsequent spending earns 0%. Spend limit resets monthly.
5 Credit score monitoring is provided by TransUnion and is not available with Essentials.
6 Credit Builder is an educational tool and should not be used as a source of financial advice. Building credit is dependent on customer behaviour, including making payments on time and in full, and improvements are not guaranteed.
7 Third party ATM fees for withdrawals of Canadian currency made with a Neo Money card at ATMs in Canada will be reimbursed up to $5 per withdrawal. Reimbursements will be reflected in your Neo Everyday or Neo Chequing account.
8 Higher limits are not guaranteed. Credit card limits and Neo Advance limits are subject to eligibility, credit assessment, and account standing. Limits vary by customer and may change over time. Memberships alone does not guarantee a specific limit or limit increase.
9 Foreign transaction fees are automatically rebated for Grow members and limited to the first CAD$10,000 in foreign spend each month. A 3% foreign transaction fee (2.5% on Neo Money™ cards) is applied at the time of purchase and automatically returned to your account once the transaction moves from pending to posted. Neo Money™ Card rebates are processed monthly, at the end of the month, and returned via your Neo Chequing or Neo Everyday account.
10 Membership fees are waived for Neo World Elite® Mastercard cardholders while the account remains open. Monthly fees will be charged if the account is closed.
11 If you downgrade or cancel your membership, you may lose access to some or all features. If you have a credit card with a secured credit limit feature, you must close this account in order to cancel your membership. If you: 1) downgrade or cancel your paid membership, or 2) change your fee payment method during a month, such change will be effective on the first day of the following month. If you upgrade your membership, you will be charged any additional fees immediately. See the Membership Policy for additional terms and conditions.