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How Neo collects and uses personal information

  • Updated

When you apply for a new Neo product, we’re required to collect some personal information for regulatory and fraud prevention purposes.

Neo only collects the information needed for the product you’re applying for. All your information is managed in accordance with Neo’s privacy policy.

Frequently asked questions about how Neo’s manages personal information

How is my personal information kept safe?

Neo uses leading security and encryption measures to keep all information secure. To understand how your information is stored, what it’s used for, and any general concerns about your personal information, Neo’s privacy policy covers it all.

 

When can my personal information be deleted?

Your personal information needs to be retained for a specific period of time for regulatory and fraud prevention purposes. Here’s how you can request to delete account data.

 

Why do you need my SIN?

When you apply for a Neo Money account or a Neo Invest account, your SIN is needed for tax purposes. We won’t ask for your SIN when you apply for a credit product. 

 

Why do I need to verify my identity?

To prevent fraud, we’ll verify your identity when you sign up for a Neo account. You may also be asked to verify your identity periodically if you already have a Neo account.

 

Neo verifies your identity by analyzing your photo ID and a picture or video of yourself. 

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