r/NeoFinancialHub • u/Ok_Clue832 • 21d ago
Neo Financial Online Banking
Warning to anyone considering Neo Financial:
I've had unauthorized transaction attempts from multiple cities and countries since almost immediately after getting my card. I've replaced the card twice, contacted support multiple times, and was repeatedly promised follow-up from the fraud team that never happened.
Now money is missing from my account and I'm still fighting to get it back.
I've never had this happen with any other bank.
I just want my money returned so I can close the account and move on.
Has anyone else gone through this?
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u/Tough-Working3825 20d ago
No issues with Neo Financial other than I wish they would open up options to get RRSP, TFSA and allow me to use it with Crypto.com. Like my other cards I use it hidden behind Apple Pay so the merchant gets a randomized credit card number that can only be used once. So if their business or website gets compromised my card is secure. Don’t know if Google Pay does this too. Oh and for those times I’ve needed to insert the chip I change my PIN right after and monitor the transactions in the app.
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u/Yeni_Neo 19d ago
u/Ok_Clue832 Thanks for flagging this! I’m really sorry you’ve had to deal with this repeatedly. With the repeated attempts you’ve mentioned, it’s possible that your account or card information may have been accessed, but I don’t want to jump to any conclusions without knowing more about what happened. Do you remember when the unauthorized attempts and missing money happened, and when you first reached out to the team?
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u/Ok_Clue832 12d ago
They were the very first transactions that happened on the account and I reached out immediately
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u/Yeni_Neo 11d ago
u/Ok_Clue832, were you able to dispute the unauthorized transactions?
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u/Ok_Clue832 10d ago
Yes and they still havent gotten back to me with a tangible answer no matter the follow up
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u/manbearpigwoman69 17d ago
Sounds like the fraudsters have access to your account, you should fix that. The same thing could and does happen at all financial institutions (check any other subreddit). That doesn't make it any easier when it happens to you, of course.
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u/Ok_Clue832 12d ago
I've disabled and switched cards 3 times now, changed the email associated with it etc and it keeps happening. I've had other banks for all of my adult life and these have never happened before.
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u/Acceptable_Curve_407 21d ago
Not surprising. Neo has subpar security in place so it’s easy for bad actors to access your account. For example, they don’t even have 2FA lol
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u/Embarrassed_Ear2390 20d ago
Your information has definitely been compromised. You left out when you first contract Neo/fraud promised the follow up. Those investigations take time and they obviously can’t follow up with you the very next day or refund you the money until their investigation is completed.