To move funds into or out of Neo Everyday, Neo Savings, and Neo High-Interest Savings accounts, link an external bank account. If you have a Neo Everyday account, you can send or receive Interac e-Transfer®
Ways to transfer funds to Neo Money accounts
There are no fees for transferring funds to Neo Everyday, Neo Savings, or Neo High-Interest Savings accounts, no matter how you move your money.
Transfer from a linked bank account
After you link a bank account, you can send or receive Electronic Fund Transfers (EFTs) to your Neo Everyday, Neo Savings, and Neo High-Interest Savings accounts.
Up to $100,000 at once
Takes up to 5 business days for the funds to be processed, but interest starts accruing right away
Link multiple bank account to Neo
Note: Neo can’t cancel an incoming Electronic Funds Transfer (EFT) from an external bank. Contact your bank to stop the transfer.
Note: Your external bank might show this transfer as a "pre-authorized debit" (PAD). This is normal. From Neo's side, it's an incoming transfer.
EFTs with linked accounts are a good way to transfer large amounts. You can withdraw up to $30,000 from your Neo account or deposit up to $100,000 into your Neo account, but the transfer will take up to 5 business days to be processed.
Note: Business days are Monday through Friday (excluding weekends and statutory holidays). If you start a transfer to Neo on a Thursday, it might not arrive until the following Wednesday or later.
Send yourself an Interac e-Transfer®
Request an Interac e-Transfer® from yourself by using your email or phone number as the transfer recipient.
Up to $3,000 at once
Takes up to 30 minutes for the transfer (but often instant)
Note: Interac e-Transfer® is currently not available with the Neo Savings and Neo High-Interest Savings accounts. To add funds to a Neo Savings or Neo High-Interest Savings account using Interac e-Transfer®, deposit the transfer into a Neo Everyday account first, then move the funds within Neo.
Interac e-Transfer payments are a faster way to transfer money, but you can only transfer up to $3,000 per e-Transfer and up to $10,000 per day. Here's more information about the transfer limits for Interac e-Transfer payments.
Move funds within Neo
Instantly transfer money between your Neo accounts.
Up to $5,000 at once
Instant
Deposit your paycheque
Provide your direct deposit information with your employer to get your paycheque automatically deposited.
Deposit funds into Neo Money accounts
Deposit funds by linking to an external bank account, sending yourself an Interac e-Transfer®, or moving money within Neo.
Neo app
Log in to the Neo app
Go to the Accounts tab and select an account
Tap Add funds
Choose a method and amount
Web
Log in to member.neofinancial.com
Click on Money from the side menu
Choose an account
Select + Add funds
Choose a method and amount
Withdraw funds from Neo Money accounts
Withdraw funds by moving money within Neo or linking to an external bank account.
Neo app
Log in to the Neo app
Go to the Accounts tab and select an account
Tap Move funds
Choose a method and amount
Web
Log in to member.neofinancial.com
Click on Money from the side menu
Choose an account
Select Move funds
Choose a method and amount
Note: If you have initiated a transfer from your Neo Everyday, Neo Savings, or Neo High-Interest Savings account to an external bank, the EFT (Electronic Fund Transfer) transaction can't be cancelled.
Adding funds to JA Money accounts
Add funds to your JA Money account by linking an external bank account or sending yourself an Interac e-Transfer®. To deposit the Interac e-Transfer®, you just have to set up Autodeposit.
Automate your transfers
With Auto-Save, you can automatically transfer money on your schedule. Set up Auto-Save and then choose the amount and frequency to put your savings on autopilot.
Bank drafts from Neo Money accounts
Currently, Neo doesn't offer bank drafts. You can move large amounts of funds by linking a bank account and withdrawing funds to your linked account.
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