Chequing account · Neo Financial
Neo Chequing account (Essentials): fees and true cost
Neo Financial’s Neo Chequing account (Essentials) charges no monthly fee, with branch: 0 · self-serve: unlimited transactions. For our “Everyday” example that comes to $0 a year, #3 of 33 chequing accounts offered nationwide.
Partner-heldOffered in all ten provinces
Fees retrieved November 1, 2026
Mitey tallies a year of Neo Financial’s Neo Chequing account (Essentials): $0 for the Everyday profile.
How much does Neo Chequing account (Essentials) from Neo Financial cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), Neo Chequing account (Essentials) costs $0 a year, #3 of 33 chequing accounts offered nationwide. There is no monthly fee. No open account in the same area costs less for that usage. The company isn’t a bank; funds are held at partner institutions.
Who does Neo Chequing account (Essentials) suit?
- Best fit: the Everyday profile (household account, a few e-transfers), where it ranks #3 of 33 chequing accounts offered nationwide. It costs most for the Light profile: $0 a year.
- Can’t serve: the Branch and cheques profile (branch transactions, cheques, paper statements not available).
- Allowance: unlimited everyday transactions, so heavier use doesn’t add fees.
- Versus the cheapest: for everyday use it costs no more than any account in Canada.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $0 | No monthly fee | 4 of 33 |
| Everyday Household account, a few e-Transfers | $0 | No monthly fee | 3 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $0 | No monthly fee | 3 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | n/a | Can’t do: branch transactions, cheques, paper statements | — |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | Branch: 0 · self-serve: unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | No extra fee |
| ATM withdrawal in the United States | No extra fee |
| ATM withdrawal in other countries | No extra fee |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | Not available |
| Bill payment in branch | Not available |
| Cheque (as a payment) | Not available |
| Mailed monthly statement | Not available |
| Non-sufficient funds (NSF) | No extra fee |
| Overdraft protection, monthly | Not available |
| Overdraft protection, per use | Not available |
| Overdraft interest | Not stated |
Interest
| Balance | Rate (annual) |
|---|---|
| $0 and up | 0.1% |
Notes from the institution
FCAC retrieved information for this account from publicly available information on the financial institution's website. Product features, fees, rates and eligibility requirements may change. Please verify current account details directly with the financial institution.
Is the money protected?
Not a bank: held at partner institutions. This company isn’t a bank; read which institutions hold your money in the deposit safety tool.
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Neo Financial’s product page
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