If your credit account shows a negative balance after a merchant issued you a refund, this means you have extra credit to spend.
You can leave this balance on your account and use it toward future purchases or have it refunded. Refunds can be returned to your Neo Everyday account or sent by Electronic Funds Transfer (EFT).
If you have a Neo Everyday account
The fastest way to receive your overpayment refund is through your Neo Everyday account.
- Chat with us to request your refund.
- Your refund will be processed and deposited into your Neo Everyday account within 3 business days.
If your credit account is closed, we can still move the remaining credit to your Neo Everyday account.
If you don’t have a Neo Everyday account
If you don’t have a Neo Everyday account, we can send your refund by Electronic Funds Transfer (EFT) or Interac e-Transfer®.
- Provide a direct deposit form or void cheque for the account you want the funds sent to.
- The name on the account must match your Neo profile.
- Your refund will be processed and sent by EFT within 5 business days.
If your credit account is closed, you can follow the same process to request a refund by EFT.