Insurdinary - Extraordinary Insurance and Financial Offers. Our slogan speaks volumes to our mission. Our mission was, is, and always will be to help Canadians achieve financial wellness through the right insurance products, mortgage rates, bank accounts, credit cards and so much more. To date, we have helped over 1 million Canadians make smarter financial decisions through our uniquely phygital experience.
According to David Solomonov, President and CEO of Alliance Income, Insurdinary’s parent company, “We are proud of this partnership, excited to get started. Neo has seen exponential growth since 2020 and their approach to credit card rewards and forward thinking banking is something that not only our loyal clients and audience can benefit from, but Canadians nationwide”
There’s a buzz around Neo but who are they? What do they do and how have they become so popular? Let’s discuss that now.
Disclaimer: All, or some of the products featured on this page are from our affiliated partners who may compensate us for actions and or sales completed as a result of the user navigating the links or images within the content. How we present the information may be influenced by that, but it in no way impacts the quality and accuracy of the research we have conducted at the time we published the article. Users may choose to visit the actual company website for more information.
Neo Financial is a forward thinking FinTech company started by the folks who created SkipTheDishes. “FinTech” means financial technology and Neo uses that technology to optimize and in turn further maximize their clients financial services; all the while making the user experience fun and easy to understand on a digital platform. Neo is laser focused on helping Canadians save more, spend wisely and invest intelligently. A similar focus to ours. The entire concept of their business is based on the premise that financial services don’t need to be a special trip to your branch. Everything we do has been made simpler as a result of technology, and Neo has set out, succeeded and will continue to succeed in making sure that financial services are no different.
Neo Card
The Neo Card is a cashback Mastercard that carries extremely high cashback rewards especially if you’re purchasing at their partnered locations. Neo Card clients will earn a guaranteed 0.5% cashback1 regardless of where you shop and that figure can reach up to 15%2 on your first time purchases at Neo partners, however the average tends to hover around 5%2 and is based on offer periods. First time and repeated visits, as well as selected purchase thresholds often receive bonus cashback offers too. More to the amazing cashback features of this card, the Neo Card also offers:
For Quebec: Purchase rate (19.99%-25.24%) and cash advance rate (21.99%-25.24%)
Key Features:
A $25 cashback3 bonus when you sign up for a Neo Card
No annual or monthly fees and no minimum balance required
Sign up in minutes and start using your digital card instantly while you wait for your physical card to arrive
Minimum: $0
Secured Neo Card
Unlike other secured credit cards, Neo offers the same cashback benefits as their standard Neo Card meaning you can earn dollars at all of the same participating retailers. Having a secured credit card, especially one with features like this one, is a great way to start using credit, regardless of your existing, or non-existent credit score. The Secured Neo Card also offers:
For Quebec: Purchase rate (19.99%-25.24%) and cash advance rate (21.99%-25.24%)
Key Features:
Get $25 cashback3 when you sign up for the Neo Secured Card
Start earning an average 5% cashback2 from thousands of local and national Neo partners
No annual or monthly fees
Fund your card in as little as 30 minutes with only $50
Minimum: $50 deposit
Neo Money Account
The Neo Money account was voted the best bank for high-interest rates in 2021. You can earn up to a whopping 225 times4 more interest than any of the big 5 banks which typically offer anywhere between 0.01% and 0.05% interest. Each dollar earns 2.25%5 which is one of the highest interest rates across Canada. Another amazing feature of the Neo Money Account is that interest is paid out monthly, and calculated daily on your ending balance. There are unlimited transactions on all deposits, withdrawals, sending and receiving funds and debit payments. There are zero monthly fees and no minimum balance is required.
Additional Benefits To The Neo Money Account
The perks described above aren’t the only stars of the show when it comes to Neo Money. By becoming a Neo Money Account customer, you also receive:
A hybrid account which combines the best of a saving and everyday spending account. Unlike traditional banks that keep the two separate, the Neo Money account allows for both saving and transaction activity in one easy location.
A 100% virtual experience. There is no need to visit a physical location. Absolutely everything you must accomplish can be done by phoning their customer service department, or through the convenient Neo app.
Secured deposits with a Schedule 1 bank. The Neo Money Account is provided by Concentra Bank which is a member of the CDIC institution6.
The ability to link all of your existing accounts and easily move money between them and your new Neo Money Account.
Neo Financial Login
Neo Financial makes logging in to their products extremely simple. Their sign in portal provides quick and easy access to your products, their performance and so much more. There are two ways to sign in to your Neo account, through the desktop browser by following this link, or through the mobile app either downloadable on Google Play or the App Store.
Let’s say for example you’re out shopping and want to know the best places to use your Neo card to receive those amazing cash back rewards. As seen below, Neo’s map and location integration makes that extremely simple.
Clicking beyond the pinned locations however brings far more valuable information for each retailer. The image below displays how you can watch your cashback stack up and even see how much you can earn by shopping at Neo partnered stores.
Neo Financial - The Takeaway
Neo’s “Modern Way to Money” slogan speaks for itself. For decades, Canadian’s have been searching for quicker ways to bank, more efficient ways to save, and better ways to access and invest their funds; and Neo has gone over and above to provide all of that.
Neo has captured the young investor with their ultra fresh imagery, amazing perks and unbeatable savings opportunities, and it is for this reason that we at Insurdinary have partnered with them.
You, our clients and readers are forward thinkers, planners, and are on the way to financial wellness not only through making the right choices when it comes to your banking; but making the right choices when it comes to your financial well-being. Having the right insurance products in place for yourself and your family is the intelligent way to protect your assets, and your health.
What questions do you have about insurance that we can answer for you? Our licensed advisors are seasoned professionals who have helped millions of Canadians decide on the right product to suit their needs, their lifestyle and their budget. Reach out to us. 1-877-574-7475. Prefer a digital experience? We can do that too. Visit us online, select the product you would like to save money on, and apply for it. It’s that simple.
1 Top-up varies based on monthly spend and is limited to $50 per month.
2 Average based on current offers at select partners. Cashback varies per bundle, offer, and partner.
3 Limited-time offer. Cashback varies per partner and is to a maximum of $25. Only new Neo Card customers are eligible for this offer. This offer is only awarded if a new customer is approved for a Neo Card. Customer has 90 days to complete the card application process. Offer is subject to the Reward Program Supplemental Terms and Conditions. Offer may be amended or cancelled at any time without notice.
4 Based on research comparing high-interest savings rate of Canada’s ‘Big 5’ banks using a $100 investment, excluding promotional rates and rate premiums. Research was conducted by Neo Financial and based on data taken from public websites as of August 10, 2022.
5 Interest is calculated daily on the total closing balance and paid monthly. Rates are per annum and subject to change without notice.
6 The Neo Money Account is provided by Concentra Bank, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo Money Accounts are combined with eligible deposits held at Concentra Bank, for up to $100,000 of deposit protection, per category, per depositor. For more information about CDIC deposit insurance, please consult CDIC’s website cdic.ca.
