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

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:30/08/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore 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.

  Hello, I want to lower the credit limit on my card and there is no way to do so. I have called and used their chat service. Both said that *** does not lower credit limits. This is unconscionable in my opinion. If *** does not lower my limit, i will cancel my card with them.

  Business Response

  Date: 19/09/2023

  Dear *******,
  
  I'm *****, a Manager in the ****************************** at ******************. Thank you for reaching out to us with your concern regarding lowering your credit card limit.
  
  I regret to inform you that as per our current policies, we are unable to reduce the credit limit on your card. However, I understand your desire for flexibility in managing your credit.
  HBC Mastercard comes with an array of benefits including exclusive discounts that you might find valuable for your financial management goals.
  I understand that this may not completely address your request, but I hope you consider the additional features as a beneficial alternative.
  
  If you still choose to cancel your card, please let us know and we will assist you with the process. Your satisfaction is our priority, and we are here to help in any way we can.
  
  Best regards, 

• Initial Complaint

  Date:15/08/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore 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.

  Neo Financial sold my account to a collection agency. I engaged with that agency and paid to close account with them. Both details are on credit report. Afterwards Neo Financial sent me email notification of an account balance. I paid it in full. More than 2 business days later I realized my mistake. Multiple contacts with *** to receive refund ignored. Neo states they have no record of account being sent to Collections. Told to contact my financial institution to reverse payment. That is not possible after 1 business day. They contacted *** to reverse on my request and *** declined. Multiple contacts made with Neo for resolution. Each time I've been told information or phone call will be provided - mentions of 2 days up to 7 days told to me. Still have not received contact with information.Now, 3 months after settling with collection agency, and 2 months of no response from Neo, the collection agency paid amount shows as a credit on my Neo account. I didn't make a payment. *** rep told me to contact my financial institution to reverse payment (that I did not make) to receive credited amount.Either Neo owes me money, the collections record is valid, and the Neo entries are incorrect OR the collection agency ********* *****, paid Neo the funds I gave them, and the collections record should be removed from my credit report.

  Business Response

  Date: 24/08/2023

  Dear **************************************** ,I understand your frustration and confusion surrounding the resolution of your debt and the subsequent interactions with Neo Financial. I greatly appreciate your patience as we aim to clarify the situation for you.Unfortunately, due to regulatory procedures and due to the fact that your account was delinquent for over 180 days, we cannot remove the collections record from your credit file. That action strictly adheres to our policy regarding accounts sent to collections.However, I would like to inform you that we acknowledge the payment you made to the collections agency. Additionally, we have taken note of the second payment you mistakenly sent to Neo Financial. As per your account records, the second payment was returned to you on ****** ****, as Neo Financial had already registered the debt as cleared from the collection agency.I understand that this experience has caused some stress and inconvenience and we are genuinely sorry. Your patience and understanding are highly appreciated.If you have further questions or need more clarification, please don't hesitate to reach out to us.

• Initial Complaint

  Date:28/07/2023

  Type:Billing Issues
  Status:

  AnsweredMore 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.

  Neo financial took over 3 weeks to give me my credit from my closed credit account to the tune of 1900$. They posted a fake transaction on July 19th 2023 of a payment reversal and put my balance to zero the transaction amount was ******* and they told me an e transfer was sent. Nothing was sent and when they realized their error after me having to talk to ten different agents now I have to wait another week for the remaining balance which is withholding my funds I need to pay bills with.*** has not been accommodating and nobody on the agent side seems to know what their doing.

  Business Response

  Date: 30/08/2023

  Hello *****,

  Thank you for your patience in this matter. I am sorry to hear that there was a delay in processing the etransfer. I have confirmed with the concerned teams that the etransfer is processed and completed and there is no balance remaining in your account. I hope this resolves your complaint.

  Please let us know if you need any further assistance.

  Regards,

• Initial Complaint

  Date:21/07/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore 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 a credit card with a limit of ***** with ********** I am currently in ******* and tried to check into a hotel last evening and my card was declined multiple times, despite the balance being available. Chatted with support this morning and was informed "just made a change to our processor and there are some instances like yours where cards are being declined". They are "working on the issue" and because I tried to input the pin 3 times last night my card is locked for 24 hours, and the issue has not been fixed. So, I have no access to my card by either tap, swipe, chip, or manual entry. I asked if they could please reverse the transfer from when I added the monies to my credit card for this trip ******* they informed me that they couldn't and I just have to "wait". My account is in perfect standing, I have over ***** of room on my credit card and because they are experiencing a system upgrade issue I am unable to access my money while in the *** (and its the only card I brought). They won't reverse the transfer, or override the 24 hour hold on the card (even though the hold was caused by their internal issue). This has put me in a very tough financial situation while on a vacation. In "24 hours" I SHOULD be able to tap or swipe the card, which does not help for large purchases. Very frustrating ***************** I have attached the conversation with the customer service agent. I asked for a team lead to call me, and was told that can take up to ********************************************** to do during the mean time?

  Business Response

  Date: 09/08/2023

  Hi ***, thank you so much for your email. 
   
  I am sorry for the delay in responding to your BBB concern, it was only just received by our team. Thank you for letting me know clearly what happened and how you were impacted by this issue. 
   
  We haven't corresponded yet but my name is ***** and I'm a customer experience manager here at Neo. 
   
  I'm sorry your experience with our team wasn't good and that you experienced issues with your card, especially while travelling internationally. I know first hand how stressful that can be, especially as you frequently use your card! I can see now that your card is fully functional and you have been able to transact successfully. 
   
  If there is any further issues or you need to contact a manager directly, please feel free to email me at
  As an apology for the inconvenience I have further credited your rewards account ******* 
   
  Have a great week ahead, 
  *****
  
  

• Initial Complaint

  Date:19/06/2023

  Type:Billing Issues
  Status:

  AnsweredMore 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.

  Company name: Neo Financial Complain Details: I had raised a issue to the company for not reporting my credit card to transunion from the past 6 months. **** *** ***** ** ** *** ******** ****** *** *** ********* *** ***** ****** ***** *****

  Business Response

  Date: 12/07/2023

  Hi *****, 
   
  Thank you so much for leaving us a note through BBB so that we are able to look into this further for you!
   
  We haven't met yet, but my name is ***** and I'm a customer experience manager here at ******************. Once I saw your message I wanted to make sure I was able to reach out personally and address any concerns you have. 
   
  I'm sorry that your card is not yet reporting to your credit bureau, I know this is frustrating when we try to make using our products as seamless as we can. We are reporting to TransUnion on almost all cards, however yours has not yet been reported as we have on file that you have two legal first names *********************** of this, it's a bit more complicated to send those files over to TransUnion, which is why you are seeing the delay in your tradeline showing on your credit file. 
   
  Once we are able to report on these, I can assure you that all of your history with us will be fully reported (since you first opened your card). I don't have a concrete timeline for you, however our tech teams are actively working on this. 
   
  As a thanks for your time, I have gone ahead and credited your rewards account with ****** which you can use however you like. 
   
  In addition, I want to make sure that you always have a designated point person at Neo so that you can always be in contact with a manager directly. You can always reach me by sending emails addressed to me to our email at , this way you do not need to go through our general support team. 
   
  Have a wonderful week ahead, and please let me know if I can be of further assistance. 
  
  Warm regards, 
   
  *****
  
  

• Initial Complaint

  Date:02/06/2023

  Type:Delivery Issues
  Status:

  AnsweredMore 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 applied for a credit card while shopping at the *** ** ******** To date, I have not received or activated any credit cards. I received this statement but have never purchased anything on a credit card with tjis name. I am not able to reach or get any response from this company

  Business Response

  Date: 04/07/2023

  Hi ***, 
  
  I hope you have exciting things planned for your up and coming long weekend!
  
  Thank you for our conversation over the phone today, I appreciate you taking the time to take my call. 
  As discussed, if you wish to speak more at any time, please don't hesitate to reach out to me directly. 
  
  You can reach me by addressing any correspondence to me and sending it to 
  
  Have a wonderful weekend ahead. 
  

• Initial Complaint

  Date:03/05/2023

  Type:Billing 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.

  Hey So ******** ******* I got a prepaid credit card from neo as I was declined for ******* secured credit card so they offered the credit builder approach, I was able to set my own credit limit and would transfer money over from my personal bank account and was able to use the neo card as a credit card, At the end of the month I'd be able to clear my credit limit back to 0, and then start fresh again, was a great service while it lasted, In ********* ** **** things changed without my notice or without me agreeing to these changes. In ****** ** ********* time I needed to make a large payment and transfered over **** to make a payment, at this time neo financial policy and terms were changed and I am no longer able to zero my account and there is now a interest being added to this balance. I immediately called neo and told them this isn't right and I was told there is nothing they can do and I need to pay them the **** to close the account. They have now since September being reporting missed payments on my credit score for the interest that is being accumulated on my **** credit balance.This is no right on so many levels it's affected my credit score huge. neo never lent me any more or gave me any credit limit, ** *** **** ** ** ******** ** ******** ** ** *** ***** ** ********. I've spoke with different managers who are all rude and not able to help, I was by the last one that I'm able to pay the **** then close the account and withdrawl the ****, but to me that seems sketchy as how can I withdrawl from an account after I closed it. All I want is this account closed with a zero balance since any money being used with the card was my own money sent from my personal bank account.

  Customer Answer

  Date: 03/05/2023

  They did not send me any new policys, and that has been my biggest complaint to them, is if they notify me I would of had time.to clear the balance my self and wouldn't be in this situation.

   

  Business Response

  Date: 04/07/2023

  Hi *****, 
  
  I hope you have some exciting plans for the upcoming weekend!
  
  We haven't met yet, but my name is ***** and I'm a customer experience manager here at Neo Financial. I know that you had some problems with your secured card a while ago and have since closed your account with us. I am so sorry for the delay in reaching out - I had not received your note through BBB until today due to a technical error. Even though the account has since been closed and resolved, I wanted to make sure I had a chance to personally reach out to you. 
  
  I am so sorry for your experience with us earlier this year. As you identified, we made some changes to the way the product worked last fall. It changed from a prepaid card (where you fund and then spend) to a proper Secured Card (current). We made this change because the product itself is designed for those who are working to build their credit score, so we modified it to more closely mimic a normal credit card. 
  
  For all intents and purposes it is a regular credit card, but the only difference is that the customer must fund their security fund prior to using the card. This way, the fund acts as collateral for Neo in case the customer is unable to pay their card balance, and the customer gets all the benefits of building normal credit habits! 
  
  We did communicate this change out through our terms and conditions emails, however by reviewing your previous interactions with us, we did not properly explain these changes to you when you contacted us. it would have been incredibly confusing and frustrating and I am so sorry that this was your experience with us. We are very proud of the experience we provide here, but in this case we let you down. 
  
  I've taken care to document this feedback, and in the months since your last correspondence with us we've made changes to our processes around secured cards to better serve our customers. 
  
  In terms of your credit score, I do have some really good news. While we aren't able to submit on your behalf, you are able to dispute these impacts to your credit bureau through the TransUnion portal. It can take up to 30 days for TransUnion to review and update your bureau. I will also communicate with our internal teams, so that if you do proceed with a dispute for the impact to your credit and TransUnion reaches out to us to validate the request, we would of course support this. 
  
  If you ever need anything in the future, please let me know. I am more than happy to help you personally with anything that you might need. 
  You can always reach me directly by addressing an email to me and sending inquiries to  
  
  Have a wonderful weekend ahead, 
  
  *****

  Customer Answer

  Date: 04/07/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely, ***** ******

• Initial Complaint

  Date:04/04/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore 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 March ** 2023 , I made a payment of *** *AD through my *** Money account to ** **** ******* ( ******) as you can see on the document attached. The money *** *AD was withdrawn from my Neo money account , but the recipient ( ** **** ******* ******) told me that they never got the money. So I contacted by phone on March ** **, 2023 Neo Financial customer service and told them that ** never got the money. Neo financial customer service said they are going to cancel the transaction and refund the *** dollars in my NEO Money account. So far , I have not yet seen the refund in my account despite my many reminders and follow up. I need that money to pay my auto finance otherwise my credit rating will be affected. Today, It is ***** ******** and it has been one month now, I am still waiting for my money.Please, help as I need my money to pay my bills.

  Business Response

  Date: 04/07/2023

  I looked into their account and see that the transaction they're referring to from Mar ** 2023 of $*** says that it's successfully delivered to the recipient. If they have still not received it in their ** **** ******* then we would advise them to double check the payee information they added and verify if it was correctly added.
  
  If the payee information incorrectly added, we don't have the ability to track it down as it might have been stuck on the recipient's end and they will need to contact them on their end to get it back.
  
  Please let me know if you have any further questions or concerns.
  
  Regards, 
  
  
  
  

• Initial Complaint

  Date:27/03/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore 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.

  Open my account ******** **** it was open for maybe 10 days and a couple transactions they froze my account won't disclose any information to me won't return my phone calls won't return my emails **** ***** ** ** I've called every single day and they're not doing anything about it. I've asked for them to close my account I've asked for the refer my money I've asked to talk to a supervisor asked to talk to a different departments nothing gets done. When I first signed up there was an advertising saying your money is your money anytime and that is clearly not true

  Business Response

  Date: 06/07/2023

  We looked into your account and can confirm that there was one deposit that was help by interac as more information was needed for that specific deposit. As you provided the information, the hold was released and the issue was resolved. We understand this is not the best experience however, this step is taken by interac for the safety and security of the account. You account is active and everything looks good at this time.

  Please let me know if you have any more questions or concerns.
   
  Regards

• Initial Complaint

  Date:20/03/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore 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.

  Neo financial are advertising there secure credit card as a credit builder credit card however they do not report your payment history to any credit bureaus. the secured credit card is even called "the credit builder credit card" and it has absolutely 0 impact on ones credit score. i believe their business actions are unethical and deceptive. many of their customers use there products for years thinking it will build their credit but it does not, resulting in them wasting years using a product that does not do what it advertises. i emailed Neo financial support and they would just tell me that soon they will report customer payment history to the credit bureaus, but they have been saying this since the companies inception in 2019. when i demanded to get a written date on when my payment history would be reported and that i wanted to talk to an manager they stopped replying to my emails.please stop this before it hurts more *********.

  Business Response

  Date: 04/07/2023

  Good day,
  
  Thank you for inquiring about our Secured Credit Card!
  
  We have been reporting our Secured Credit Card product to ********** as of April 26, 2023. You will need to have a minimum of $50 in your security funds in order for this to be reported to **********. 
  
  We backdated any credit history from time of sign up.
  
  If you feel that your concern has not been properly addressed, please refer to the Neo Complaint Resolution Policy for information on how to escalate your concern. 
  
  Thank you for providing us with the opportunity to address your concerns.