Neobanc

The newer challenger with the highest upside: up to 1–2% cashback on rent and bills (with a card or free Interac), plus 0.5% cashback on mortgage payments routed via Interac e-Transfer (mortgages can't be charged to a credit card directly in Canada).

Neobanc is the best choice if you want cashback without fees on rent — and the only platform that lets you pay your mortgage in Canada via Interac e-Transfer (with 0.5% cashback), along with credit cards and loans. Mortgages can't be charged to a credit card directly in Canada, but Neobanc routes them by Interac and credits cashback back to you. Curious how it stacks up against the points leader? Compare Chexy vs Neobanc.

Earn cashback with zero fees using Interac e-Transfer — even on rent, bills, and credit card payments.

If your rent is $2,000. Two variables: payment method + plan.

Payment method

• Interac e-Transfer → $0 fee
• Credit card → 1.5% fee (monthly plan) or 2.25% fee (6-month rolling plan)

Cashback plan (rent and bills)

• Monthly plan → 1% cashback on rent and bills
• 6-month rolling plan → 2% cashback on rent and bills (paid 6 months after each payment)

Mortgage (both plans)

• All plans → 0.5% cashback on mortgage payments

All combinations

• Interac + Monthly plan → $0 fee, 1% cashback
• Interac + 6-month rolling plan → $0 fee, 2% cashback
• Credit card + Monthly plan → 1.5% fee, 1% cashback (net cost ~0.5%)
• Credit card + 6-month rolling plan → 2.25% fee, 2% cashback (net cost ~0.25%)

• Neobanc → best for cashback, mortgage & 0% via Interac
• Chexy → best for Aeroplan & travel points
• Casa → best for Scotiabank Passport Visa holders

Best choice if you want cashback — or need to pay things other tools can't.

Transaction fee

0% (Interac) · 1.5% (monthly plan) · 2.25% (6-month rolling plan)

Monthly cost

$0

Credit card fees vary by plan: 1.5% on the monthly plan (1% cashback) or 2.25% on the 6-month rolling plan (2% cashback). Interac e-Transfer is always $0.

Accepted networks

Visa · Mastercard · Amex · Interac

Rewards

Up to 1–2% cashback on rent and bills (1% monthly plan, 2% 6-month rolling plan), 0.5% on mortgage

Monthly plan → 1% cashback on rent and bills. 6-month rolling plan → 2% cashback on rent and bills, paid six months after each payment. Mortgage earns 0.5% cashback on both plans. Use Interac e-Transfer for $0 fees on either plan.

Supports Visa, Mastercard, and American Express (Amex). Plus free Interac e-Transfer with cashback. Neobanc now supports American Express, making it comparable to Chexy for premium card users.

Reports payments?

Yes

Bureaus

Equifax + TransUnion

Reports payments to both Equifax and TransUnion Canada — the broadest coverage in this space.

Payout speed

2–4 business days

Method

EFT or Interac e-Transfer to recipient

Provinces

All Canadian provinces & territories

Requirements

Canadian resident, government ID, valid Canadian credit card or bank account

• •Higher cashback tiers come with higher fees — always compare net return before picking a tier.
• •The product is newer — experience is improving but not as polished as Chexy.
• •Funds in your Neobanc account are CDIC insured.