Neo Financial Review

Positive Fintech CDIC: CDIC via partner bank

A Calgary-based fintech built around cash-back Mastercards (up to 5% at partner merchants) and a non-interest cash-back chequing account, backed by CDIC coverage through partner banks. Fully app-based, no branches.

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Products offered

Neo World Elite Mastercard
Neo World Mastercard
Neo Chequing

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Pros and cons of Neo Financial

What our editors liked — and where Neo Financial falls short.

Pros

Up to 5% cash back on the World Elite Mastercard at partner merchants
No-annual-fee option available on the World Mastercard
Neo Chequing pays 2% cash back on gas/groceries plus 0.5% on other spending with a $3,000 balance
Modern, fully app-based experience

Cons

$149/yr fee on the World Elite tier
No physical branches or in-person support
Shorter track record than the Big Six or established digital banks

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