Neo Cash Account

Earn 2.5% on every dollar¹

No monthly fees

Legal Disclaimers

<sup>¹ Earnings for the Neo Cash account are derived from the interest Neo earns on the funds. Neo shares interest at the advertised rate of return for the Neo Cash account, and earnings are calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

² The Neo Cash account is offered by Neo Financial Technologies Inc. (“Neo”), a FINTRAC-registered money services business. The funds added to Neo Cash accounts are ultimately held securely in trust in the name of the primary account holder with one or more member institutions of the Canada Deposit Insurance Corporation (“CDIC”). Neo is not a CDIC member institution; however, eligible funds held in trust are insured by CDIC for up to $100,000 per beneficiary, per member institution in the event of a member institution’s failure, provided certain disclosure rules are met. Funds are settled with any CDIC member institution within three business days of the funds being reflected in your account. Neo appointed Olympia Trust Company as the Trustee to hold funds in the Neo Cash account in trust.</sup>

What's the difference between Neo Cash and Neo High-Interest Savings accounts?

Got questions?

We've got answers.

No minimum balances

Earning the trust of Canadians every day

Start earning 2.5% today¹ 

• Customize your account based on your savings goals
• Your deposits are eligible for CDIC protection²

The Neo Cash account is the new version of the Neo High-Interest Savings account. You can no longer open new Neo High-Interest Savings accounts, but any existing accounts aren’t impacted. Here's more information about the change.

Do I need a minimum deposit or balance on my account?

No—you get to save every bit possible, so you can focus on knocking off your financial goals and setting new ones. It's like a savings account, after all.

Is my money insured? 

Yes, funds in Neo Cash accounts are eligible for CDIC protection.

The Neo Cash account is offered by Neo Financial Technologies Inc. (“Neo”), a FINTRAC-registered money services business. The funds added to Neo Cash accounts are ultimately held securely in trust in the name of the primary account holder with one or more member institutions of the Canada Deposit Insurance Corporation (“CDIC”). Neo is not a CDIC member institution. However, CDIC will protect up to $100,000 per beneficiary, per member institution, in the event of a member institution failing, provided certain disclosure rules are met. Funds are settled with any CDIC member institution within three business days of the funds being reflected in your account.

How do I open a Neo Cash account with Neo Financial?

You can get a Neo Cash account in less than three minutes. You just need to be over 13 years old (14 in Quebec) and have a Canadian SIN. When your application for a Neo Cash account is approved, you can add funds to start earning right away! Create a profile to start saving with a Neo Cash account.

Do you charge a fee for moving funds? 

No, we don't charge a fee for moving funds. You can transfer funds into your Neo Cash account to grow your money quicker or get a Neo Everyday account to send or receive INTERAC e-Transfer® payments and pay bills.

How does interest work with the Neo Cash account?

Neo shares interest earned at the advertised rate of return for the Neo Cash account, which is derived from the interest earned by Neo on the funds. Earnings for the Neo Cash account are calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.

How much will I earn with my Neo Cash account?

The earnings from your Neo Cash account are based on your account balance and rate of return. Log in to your account to see how much you earn and use Neo’s smart tools to track your savings.

• No minimum deposits
• No monthly fees

• Earn 2.5% every day¹
• Track your progress directly in the Neo app