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Understand and avoid scams

  • Updated

Fraudulent phone calls, texts, and emails have become common today. These can be convincing, but there are some ways to spot a scam when you’re contacted. 

A scam is when someone deceives you into providing sensitive information or transferring funds for their own financial benefit.

Neo Financial will never ask for: 

  • Your complete 16-digit credit card number, PIN, or account password
  • Any verification code
  • Money transfers as e-Transfers, wire transfers, and cash

Signs of scams

Unsure about a call

If you're uncertain about a call you receive from someone claiming to be from Neo Financial, end the call and get in touch with us.

Don’t provide personal information if you’re not sure who you’re speaking to. Call us at our customer support number and confirm we are the ones trying to contact ‌you. 

If you’re unsure about any call that seems to be from Neo Financial, call us at the number on the back of your card.

Pressure to take immediate action

If there is urgency in providing private information, this can be a key sign for fraudulent activity. Always call in and confirm we are the ones who asked for any information before providing sensitive information over calls, texts, and emails. 

Unexpected payment requests

If you’re asked to pay for a product that you don’t have any usual charges for or for anything suspicious, don’t initiate a payment without confirmation. Contact us to ensure these requests are from us before initiating any payment or providing information.

If your card information has been compromised, freeze your card as soon as possible to avoid fraudulent charges.

Common types of scams

Phone or email scams 

You may receive calls, texts, or emails from people pretending to be a part of a government organization or financial institution. Be cautious of the information you share. 

One-time password scams

Sometimes scammers try to get one-time passwords by impersonating someone else. They will ask you to share the one-time password, which they’ll use to access your account or authorize a payment.

The Neo team will never ask you to share one-time passwords. These include one-time passwords used to access your account or for payment authorizations. 

Job scams

You may receive a job offer as an email or text. Typically, this is a job that requires minimal effort, but you are promised good pay. There is usually urgency to accept the job offer, and you will be asked to send money for your training or for other reasons for the job.

Buyer scams

Make sure that the exchange of money and the product is done simultaneously with a legitimate and verified seller.

As a buyer, you could be convinced to pay in advance before you receive the product.

Free trial scams

This is done online. You may find a website offering a free trial for a product, but don’t provide your credit card information before verifying the legitimacy of the e-commerce site. 

You can try searching the company up and looking through reviews. If there is no information on the website anywhere, it is best to avoid it for your purchases.

Romance scams

This includes someone having a fake online persona to trick people into giving them their personal banking information or sending them money. Be cautious of sharing any personal financial information online.

Report scams

If you have charges on your account because of a scam with a merchant, we can look into this for you.

The types of scams you can dispute are:

  • Buyer scams
  • Free trial scams

Phone or email scams, one-time password, job and romance scams can’t be disputed as the card information was compromised by the customer to another individual.

Here’s how to file a dispute.

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