Skip to main content

Neo Money Account - Transferring Money & Deposits

  • Updated

This article will provide information regarding electronic funds transfers, e-Transfers, and direct deposits to you Neo Money account. 

Unfortunately, we do not accept international deposits into our Money accounts. This is because the funds need to be in Canadian dollar in order to be moved. 



  • EFT: Electronic Funds Transfer
  • FI: Financial Institution


How to find information to use Direct Deposit:

  1. Login to your Neo account on the app or online at
  2. Select the ‘Accounts’ page (on the app it looks like a little house).
  3. Select ‘Money.’
  4. Tap the three small dots in the top right hand corner. 
    • You can skip this step if you are using the website. Click 'Account' after selecing Money.
  5. Select ‘Account Details.’ Here you will see all the information that would be on a void cheque that is needed for direct deposit as well as to set up auto-bill pays. Just give that information to the company with whom you have a bill to pay, or need to set up a direct deposit.

Direct deposits from the government are never held.

Direct deposits via EFT (initiated by customers) are subject to a hold until a release date is set by external FI's. $100 of those funds are released immediately while the rest is held.


Sending e-Transfers to your Neo Money account:

  1. Login to your account with your other FI either through their app or website.
  2. Add yourself as a contact under their e-Transfer option.
  3. Enter either an email or a phone number.
  4. Then send yourself your chosen amount(s) through this contact.
  5. Once you get the notification from Interac, search for your FI to deposit as “Neo Money by Concentra Bank”
  6. Enter your password for the transfer.

e-Transfers should be more or less instant. They are the quickest out there! If you are having trouble, just double check that you don’t have auto deposit set up with the same information! If you do, you will need to switch that information to able to proceed. 


Sending e-Transfers to another FI:

  1. Login to your Neo account.
  2. Select the “Payments” tab (it looks like two arrows). 
    • Bottom of your screen on your app
    • Left side of your screen online
  3. Click the little “+” in the top right corner to add a new contact.
  4. Add yourself using your name and a phone number or email.
  5. Selecting this will allow you to select between a deposit and an e-Transfer. Select e-Transfer.
  6. Enter the amount to transfer. 
  7. Once you get the notification from Interac, search for your FI to deposit your money into. 
  8. Enter your password for the transfer. 

If your Interac/e-Transfer services are blocked, please check your email from Neo Financial, contact the sender and advise the sender to reach their FI. If you are sending the money, please contact your FI. 


Linking a bank account:

  1. Login to your Neo account. 
  2. Select the “+” underneath the header “Linked accounts”
  3. Read the information in the pop-up and select “Continue”
  4. Select which bank you would like to link to your Neo account.
    • Not every bank in Canada will enable linking with us. If you do not see your bank, please contact your bank and ask them to enable linking it with Neo Financial. It may not happen right away but it is important to ask.
  5. Login to your other bank using that login information to link the account.
    • This is completely secure.


  1. Login to your Neo account. 
  2. Select the “Accounts” page (on the app it looks like a little house).
  3. Select “Money”
  4. Here you will see the option to withdraw or deposit. 
    • Withdraw: This will allow you to initiate an EFT transfer from your Neo Money Account to your linked bank account.
    • Deposit: This will allow you to initiate an EFT transfer from your linked bank account into your Neo Money Account.
  5. Enter the amount you would like to transfer. 

EFTs are more secure than e-Transfers, but take longer to process. EFT’s take between 3-5 business days to fully post. You will have seen the funds taken from your other account but won’t see them in your Neo account until the transfer posts.

EFTs will appear as ‘OUTGOING AUTOMATED FUND TRANSFER’ in the method column in the transactions section of your profile.

You will begin earning interest on your EFT the moment it’s initiated!


Supplementary Information

  • At this time, we cannot have cash or cheques deposited directly into the Neo Money Account. It will have to be deposited into another FI and then transferred into the Neo Money through an EFT or an e-Transfer.
  • The maximum amount of funds in our Neo Money account at this time is 200k.

Was this article helpful?

Have more questions?