There are two ways to send funds from another bank account to your Neo Savings account. Both can be done in the app. Electronic funds transfers can be done through the app and our website.
To send yourself an Interac® e-Transfer®:
- Start by initiating the e-Transfer from your other financial institution.
- Once you receive the notification from Interac, look for ‘Neo Savings by Concentra Bank’.
- Enter the password you set for the e-Transfer to accept it.
- You will be redirected to your Neo account login in order to accept the e-Transfer.
To send an electronic funds transfer (EFT):
- Log into your Neo account and select your Savings account.
- Tap the ‘+’ symbol next to ‘Linked Accounts’.
- Tap Continue and scroll through the list to find your financial institution.
- Select your financial institution and log in using your credentials for that financial institution.
- To deposit into your Neo Savings account, select Savings from the ‘Accounts’ page.
- The accounts page will be the first page you are on automatically after you log in to your account.
- Select Deposit.
Withdraw: This will allow you to initiate an EFT transfer from your Neo Savings Account to your linked bank account.
Deposit: This will allow you to initiate an EFT transfer from your linked bank account into your Neo Savings Account.
- Select your linked account.
- The linking process can sometimes take a few minutes.
- Choose the amount you want to deposit and press the arrow.
- You can see the EFT’s current status in the Neo app, where you’ll be able to see when the funds are deposited and available to you.
- You will begin earning interest on your EFT the moment it’s initiated
Note: Electronic Funds Transfers can take between 5-7 business days to fully post to your account.
Note: With larger transfers, you may notice some funds are available to you right away. The rest may be held for up to 7 days before being fully posted.