Your first Neo Advance limit is just a starting point. As Neo gets to know you and your financial picture better, your advance limit can grow.
Your starting advance limit
When you activate Neo Advance on your Neo Chequing account, you’re assigned a starting advance limit—the amount you can access. This isn’t your final limit. It’s where you begin.
Your starting limit is personalized to you, since it’s based on your individual account details.
We’ll also share a predicted limit: the limit you can expect to get up to by using your advance and completing the recommended tasks.
How to increase your advance limit
You can work toward a higher advance limit by:
Moving your pay to Neo with direct deposit
Setting up recurring transfers to your Neo Chequing account
Using and repaying your advance regularly
Not every paycheque qualifies for a limit boost. Here’s more info about which deposits qualify.
The more we get to know your financial picture through tasks like these, the more we can grow your limit. Meeting these criteria doesn’t guarantee an increase.
Neo automatically reviews your eligibility
Neo reviews accounts regularly and may offer you a higher advance limit when you’re eligible. Your limit may also be adjusted if your account usage changes over time.
Completing recommended tasks can help you become eligible for a higher limit, but increases aren’t guaranteed and timing can vary. We’ll notify you by email or in the Neo app if you’re eligible to get a higher advance limit.
Frequently asked questions about Neo Advance limits
Why is my starting limit lower than expected?
Why is my starting limit lower than expected?
Your starting limit is based on your account profile. You can work toward a higher limit over time by moving your pay to Neo, setting up recurring transfers, and paying off your advance on time.
Can I request a specific limit amount?
Can I request a specific limit amount?
No. You can’t request a higher Neo Advance limit or choose your limit amount.
Does paying off my advance on time really help?
Does paying off my advance on time really help?
Yes. Repaying on time is one of the clearest signals we use to grow your limit over time.
What’s the difference between my starting limit and my predicted limit?
What’s the difference between my starting limit and my predicted limit?
Your starting limit is what you can access now. Your predicted limit is what you may be able to work toward over time, but it’s not a promise that you’ll get that amount or that you’ll get it right away.
I finished a recommended action. Why didn’t my advance limit go up?
I finished a recommended action. Why didn’t my advance limit go up?
Neo reviews accounts regularly. Completing an action doesn’t guarantee an increase, and it may not happen immediately. We’ll notify you if you’re eligible for a higher limit.
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