Neo recently switched to a new payment provider for the Neo Everyday and Neo High-Interest Savings accounts. We completed this change to help us add new payments features in the future.
This change only impacts Neo Everyday or Neo High-Interest Savings accounts with existing pre-authorized debits or direct deposits. You will need to update your account details with the provider/institution.
What is changing with the Neo Everyday and Neo High-Interest Savings accounts?
The account details (account numbers, transit number and institution number) for all Neo Everyday or Neo High-Interest Savings accounts have recently changed. Neo switched to a new payment provider, so payments (including direct deposits and pre-authorized debits) are now routed through the new provider.
Note: For most accounts, the entire account number remained the same. Only the transit number and institution number were changed.
How do I know if my account number changed?
The transit numbers and institution numbers for all Neo Everyday or Neo High-Interest Savings accounts have changed. If you don’t have any pre-authorized debits or direct deposits to your accounts, then this change does not impact you.
What happens to my direct deposits and pre-authorized debits?
Any direct deposits (such as paycheques, tax refunds, and government benefits including the Canada Child Benefit or employment insurance) or pre-authorized debits (such as recurring payments for mortgages, utilities, insurance, or donations) to your old account numbers will be automatically routed to the new account numbers until December 31, 2025. After December 31, any direct deposits or pre-authorized debits to your old account numbers will not be processed and will return to the sender.
You will have to update your direct deposits or pre-authorized debits to the new account numbers. Please provide your new account information to the institution, service provider, or employer before December 31 to avoid any impacts to your payments.
How do I find the new account numbers?
The account number, transit number, and institution number are available in the Neo app or website. The account information listed in the account are the new numbers.
Log in and go to each account to view the account information. You can also download a PDF with the account information.
Here are the full instructions to find your account details.
Note: For most accounts, only the institution number and transit number were changed.
My provider asked me for my old account numbers. How do I find them?
If you need your old account information, please chat with us. Our team can help you find the previous account information.
Who do I need to provide my new account numbers to?
If you have any direct deposits or pre-authorized debits associated with your Neo Everyday or Neo High-Interest Savings accounts, you will need to provide your new account numbers to the institution, service provider, or employer. These can include:
- Employers (for payroll deposits)
- Billers (such as utilities, mortgage, loans, credit providers, insurance, subscriptions, memberships)
- Government agencies (for benefits, pensions, or tax refunds)
- Any other organizations that deposit to or withdraw from your account
If you have a Neo Invest account, then payments or deposits with CI Investments or BBS Securities may be related to any transfers with your Neo Invest account. You don't need to change any account information related to Neo Invest.