If a purchase or bill would take your Neo Chequing balance below $0, Neo Advance can step in as overdraft protection—up to your available advance limit, at 0% interest. Other Neo accounts don’t offer overdrafts, and Neo won't charge a NSF fee ($0 NSF) if a transaction is declined.
Overdraft protection with Neo Advance
Neo Advance is a feature of Neo's memberships and can be added to the Neo Chequing account. Once you’re approved, it can automatically cover eligible purchases and payments when your balance dips below $0, so everyday spending doesn’t have to stop at zero.
It’s only available with Neo Chequing and you'll need the Start, Build, or Grow membership. Here's how to get Neo Advance.
What happens if my account doesn’t have enough for a withdrawal or payment?
If there isn’t enough in your account and Neo Advance isn’t covering that payment, the transaction will be declined. Neo won’t charge you an NSF (non-sufficient funds) fee.
That includes Neo Chequing without Neo Advance (or for payments your advance can’t cover), plus Neo Everyday, Neo Savings, and Neo High-Interest Savings.
Overdrafts on other Neo accounts
Neo Everyday, Neo Savings, and Neo High-Interest Savings don’t come with overdrafts or overdraft protection, but Neo won't charge you an NSF fee. Stick to your available balance for bill payments, Interac e-Transfer® payments, or purchases with your Neo Money™ card.
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