Complaints

This profile includes complaints for Neo Financial's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Neo Financial

  200 119 14 St SW Calgary, AB T2N 1Z6

• 

  Neo Financial

  3003 Boul. le Carrefour Laval, QC H7T 1C8

• 

  Neo Financial

  1 Bass Pro Mills Drive Vaughan, ON L4K 5W4

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/01/2025

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have had a neo Cathay world elite card. After the 2nd annual fee posted , I closed my credit card as I didn't wish to continue with the product but the annual fee was not removed from my charge so essentially I have paid two annual fee for 1 year of the product. After contacting the supporting team multiple time they refused to help me out and remove the annual fee charge for the 2nd year and thus I had to pay an extra 180 for a product that I am not using.

• Initial Complaint

  Date:02/01/2025

  Type:Product Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Date of Transaction: August 30 Amount of money you paid: $180 Annual Fee What the business committed to provide you: ****** ************** Miles for spending $3000 within first 3 months Nature of dispute: I spent the $3000 but they did not give me the welcome bonus dispute contacting them multiple times as well their website said replies within 14 days Since the end of August, I have reached out multiple times regarding a missing welcome offer that was promised to me upon signing up for the Neo Credit Card. Each time, Neo chat *****s assured me I would receive a response within 3-5 business days via email. However, I have yet to receive any *************** is a summary of my interactions with *****s:1) ******** failed to log the issue entirely.2) ***** indicated the first ***** forgot to document it.3) ******* ******, informed me that the first and second *****s had not logged the missing welcome offer. I have a chat log with *******, where she confirmed I would receive the promised welcome bonus of ****** points and an additional ****** after spending $3,000.4) ***** (Wadata), finally logged a complaint and confirmed via email that I would receive a response within 24 hours. That time has passed, and I still have not heard back.***** also mentioned that the ****************** were not fair in this case. I signed up for the credit card, paying the $180 annual fee, solely due to the promised welcome bonus. As this was not honored, I would either like to receive the welcome bonus or cancel the card with a prorated refund for the unused portion of the annual fee. I have only used the card for one month, and as the fee is annual, I expect to be refunded for the remaining 11 months.I have reviewed Neo Banks Complaint Resolution Policy, which states that responses should be anticipated within 5 business days, and unresolved issues should be escalated to the Chief Complaints Officer if not closed within 14 calendar days. However, months have past no reply.

• Initial Complaint

  Date:20/12/2024

  Type:Product Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  It all started on an ordinary day. As I regularly do, I was checking my Neo Financial account balance when I noticed something alarming a large transaction was pending. Someone had attempted to withdraw $2,289.28 from my account. My heart sank.I immediately froze the card and contacted Neo Financial customer service to inform them of the potential fraud. The agent reassured me that the money was still in pending status and that because I had taken swift action by blocking the card, they would investigate the matter further. The representative assured me that they were actively monitoring the situation and would do everything to prevent the funds from being ******* that moment, I felt a sense of relief. I was told that the investigation would ensure I wouldn't lose any money.Three days later, my relief quickly turned to frustration and disbelief. I checked my account again, only to find that the $2,289.28 had been withdrawn from my account, and a notification from Neo Financial appeared in my inbox. The email stated that I was liable for the transaction, as they were unable to stop the fraudulent charge.Confused and upset, I immediately reached out to Neo Financial to explain my side once again. After all, I had called them right after noticing the fraudulent activity, which should have given them enough time to prevent any loss. But their response was not what I expected. Despite my immediate action and the promise of their investigation, they refused to refund the ********* this point, I felt completely helpless. I had done everything right frozen my card, reported the fraud immediately, and trusted that Neo Financial would take the necessary steps to protect me as their customer but Negative ans.Its not just about the $2,289.28. This amount is equivalent to one months salary, and its a significant financial burden. If it had been $100 or even $200, maybe I could have brushed it off. But this was a serious sum, and I wasnt about to let it slide.

• Initial Complaint

  Date:18/12/2024

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am not liable for this debt with NEO Financial. After speaking with a representative over the phone, the agent verbally disclosed the amount that I am required to pay to close the credit card from NEO Financial. Currently, my credit report states that NEO Financial had sent the credit card to collections and negatively affected my credit score for future loan applications.

• Initial Complaint

  Date:09/12/2024

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Unauthorized transaction Sometime in May 09, 2024, I got a notice on my Neo card about a U.S. purchase transaction posted on my account. Since I have never dealt with these U.S. companies, I called NEO right away and told them that I believe my credit card has been compromised. The person I talked to looked thru my account and after a while of investigating he assured me that its been resolved and that he will cancel the card and will send me a new card. That was fine. I even gave them a positive feedback for the timely resolution of an unauthorized transactions. Fast forward to December 04, 2024, I noticed a posted transaction on my account for $210.35. The same amount that had been disputed and resolved in May 2024. I called NEO today, Dec 09th, and spoke to a ******, a Neo **** to inquire about this posted transaction. She said shell looked at the ****. After about **************************************************************** the background, she told me I was liable for this amount. I told her I am not paying for this unauthorized transactions and that I will be paying whatever balance I have in full minus the unauthorized transactions thats of $210.35. I told her I have frozen the card and will remain so until Neo clear up this issue. I also told her that I will be filing a BBB claim against Neo as suggested by a friend who is also dealing with Neo of the same issues: unauthorized transaction. I told her it seems NEO is not investing enough for the security of their issued credit cards.

• Initial Complaint

  Date:06/12/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On October 7th, 2024, I made a payment to my Neo Credit card of $11,000 in error (my card balance at that time was only around $1000) . I called my bank (Scotia) on October 8th when I realized my mistake and they said they would contact Neo and have this payment reversed but it may take up to 4 weeks to see the payment returned.After the 4 weeks passed I had not received the overpayment back, so I reached out to ****** and they advised they never received a response from Neo for the payment reversal. I then contacted Neo and they told me that the request from Scotia had not been received. I asked the agent if I close my credit card account, would I then get my money back and she said yes, I would be refunded the balance in 3-5 business days via e-transfer, so I went ahead and closed my credit card. 3-5 business days passed and no e-transfer received. I contacted Neo again, and they said the previous agent "forgot" to submit the refund request and she would do it and I would see the e-transfer in a day or two. 3 days passed without the refund, so I contacted Neo AGAIN and the agent said it has been escalated now and due to my original request to have the payment reversed, that is how they will have to process getting my money back to me, and I would see it returned to my bank account by the end of the week. It is Friday today which is the end of the week and I still do not have my money back. This is a very large sum of money that I am paying very high interest on my other credit card that the payment should have gone to. It has now been two months since the original mistake and this is completely unacceptable. I just want my money back from ***. (the negative balance showing on this credit card account is $10,044.95 as I had a small amount owing so this $10,044.95 is what I am trying to get refunded back to me- not the original $11,000 overpayment)

  Customer Answer

  Date: 13/12/2024

  Problem has now been resolved and all monies returned 

• Initial Complaint

  Date:05/12/2024

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Of note: I have a saved transcript of this exchange. I missed my total bill payment by 17 cents and was charged $90.63 in interest. I reached out to the support team on December 5th because the amount is significant relative to how much I owed. I made a payment by the due date of $612.13. The balance was actually $612.30. So, I made a payment of $17 (I meant it to be 17 cents, but put in dollars instead of cents). As I initiated the chat, there was an automated message explaining that any amount outstanding on a bill would be charged interest, which I understand. The exact wording: Interest charges on your credit card can occur if you dont pay the full statement balance by the due date. If you only make the minimum payment or a partial payment, interest will be charged on the remaining balance. After much back and forth, the agent acknowledged that the interest was higher than warranted, given that the amount NOT paid off was 17 cents. After escalating, an exception was offered to waive $50 of the interest. That wasnt sufficient for me since the reason offered was Interest is charged daily after the due date so thats why it went all the way to $90.63. The time difference from due date of November 25 is less than 10 days. In response to this being the final resolution offered, I explained that I would be cancelling my card and engaging the Better Business Bureau. So, here I am submitting a claim. I have cancelled my card. The outstanding balance is currently $23.80. I overpaid $16.83. A $50 credit was applied. My request is to have the $23.80 outstanding interest charges waived and a refund cheque issued to me in the amount of $16.83.

• Initial Complaint

  Date:04/12/2024

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  November 28th, 2024 3:01 PM $180.00 I have contacted *********** customer representative, they refused refunding any portion.I was charged 180cad for the secon annual membership Fee.I canceled the account in 6days after then. The fee is typically prorated based on the length of time the card is used. Since I only used the card for less than a week, I believe I am entitled to a refund for the unused portion of the annual fee.Therefore, I kindly request a refund for the days that I did not use the card, as the fee should be adjusted accordingly. I would appreciate it if *** could calculate the refund based on the actual number of days the card was active and provide me with a full refund for the unused period.

• Initial Complaint

  Date:03/12/2024

  Type:Service or Repair Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On November 4, ************************************************************************ ********** (they used the card in a different city than I was even in). I noticed two days later and immediately reported it. I was told all transactions were declined and this is what it showed on my statement as well EXCEPT the balance owing showed I owed the money for two transactions (both I was told were declined and showed decline on the statement). I contacted Neo financial 9 times to resolve this. My last conversation via online chat (because in the phone I waited on hold For over 3hrs!) the lady closed my account without verifying thats what I wanted. When I asked her to reopen it. Cause I did not ask her to close it she responded by saying I made a comment that I wanted to close my account previously in the chat. I did make a COMMENT that I wanted to close my account but at no time asked her to close it. She also did not say anything to indicate she was closing it (didnt tell me she could do that for me or to wait while she closed it or ask if I wanted her to assist me with that). So, a comment (not a request) I made out of frustration was acted on without consent to do so and now Im being told I have to wait 6 months to try to re apply! On top of all this, Ive been told the dispute will take up to 120 days to be resolved and in the time being I have to pay the account or Ill owe interest!! First of all I pay service fees each month for a card that is secured (meaning its my money not theirs) and they get interest in late payments even though its my own money! (Ive never been late to date but this dispute is causing interest and reporting late payments and affecting my credit rating). Any other credit card company reverses the charges while its being disputed and lets you know if you lose the dispute they will re enter the charges without having to pay interest while in dispute. This company is taking advantage of fraudulent charges (earning interest)

• Initial Complaint

  Date:29/11/2024

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I live in ****** and have had a Neo Financial Mastercard for many years, among many other credit cards. Many of these cards have gone into my iPhone's Apple Wallet. I have never had a fraudulent transaction on any card before or since this incident. In mid October 2024, I received a notification that a charge had been made to my Neo card for ~150CAD at a ****** in **********, ***. Only a few short minutes after that, I marked the transaction is disputed and locked the card. It has taken 6 weeks for a response from Neo Financial, and they tell me essentially because my card was in the Apple Wallet it is my fault that it was used fraudulently and they will not be doing anything about the disputed transaction. I have since told them I won't be paying and have closed the account.

  Customer Answer

  Date: 20/12/2024

  Hi BBB, I have received a pretty unsatisfactory private response from Neo Financial, essentially victim blaming: 

  "Central Operations Team (Neo Financial)
  Nov 28, 2024, 16:18 PST
  Hi ******** House,
  Weve reviewed the dispute you submitted for a transaction at Target T-2077 ********** Usa on October 15th, 2024 at 4:12PM (PDT) for $137.42.
  Unfortunately, this transaction isnt eligible to be disputed under Mastercards policies. The transaction was made using a mobile wallet, so the card was previously authenticated by the cardholder. Heres a summary of the transactions that arent eligible for chargebacks, along with tips for keeping your account secure. We will be closing this dispute.
  We recommend that you contact the merchant directly (if you havent already). In many cases, the merchant can help resolve the issue directly.
  Any additional evidence from the merchant (such as emails with the merchant) can help us dispute the transaction. Please reply to this email if you have any new evidence and well review your claim again.
  Were sorry that we werent able to assist you further. If you have more questions about this dispute, please reply to this email. Otherwise, the fastest way to contact us is through chat.
  Dispute Resolution Team
  Neo Financial"

  My response to them just now: "Hi ****,
  
  
  That is a travesty of a victim-blaming word salad of a response, and needless to say I'm pretty upset about it.
  
  
  Please respond to my complaint through the Better Business Bureau: complaint ID ********. This complaint was placed a few weeks ago.
  
  
  I have updated the BBB with your responses to me thus far.
  
  
  
  I will not be paying the charge, and the longer this goes on for the less likely I am to ever utilize any Neo Financial product in the future. 
  
  
  I have never before or since had an issue like this.
  
  
  All the best,
  Nick"