Is the Prepaid Mastercard and the Neo Money Card the same thing?

Money Matters
1

If so, can I do a Bill Payment towards the Neo Money card to add funds to it?

2

Yes, the Neo Money card is a Prepaid Mastercard.

Someone that actually has one should confirm but it’s my understanding that all of the funds in your Neo Money account are available to spend using your Neo Money card so there is no need to “add funds” to your card.

3

I have the card but am just curious about the functionality.

In Tangerine for example, when I try to search ‘Neo’, I get two results:

  • Neo Financial
  • Neo Financial World Elite

If they’re both related to Neo’s Mastercards it’s weird that they split their credit offerings by non-WE & WE

Anyways, when I choose ‘Neo Financial’ from the payee list and type in my Neo Money card number, it says it’s invalid

4

Ah that is confusing. As far as I can tell, there should be three related entries in the bill payee list:

  • Neo Financial Mastercard
  • Neo Financial World Mastercard
  • Neo Financial World Elite Mastercard

The Neo Money Card isn’t a “bill” you can pay, it lets you spend the funds directly from your Neo Money account so you just need to move the funds you want to spend there first. You can do that several ways:

  • If you’ve configured Interac e-Transfer Autodeposit on your Neo Money account, then the fastest way to transfer money would be to send yourself an “Interac e-Transfer” from your Tangerine account.
  • Otherwise, you can link your Tangerine account to Neo and pull the money over.
  • You could also link your Neo account to Tangerine and push the money via EFT but if you’re going to be using Neo as your primary “bank” going forward, then the other two options would make more sense for the long term.
5

I just checked BMO, TD, CIBC, Scotiabank, & RBC. All of the Big 5 are just showing:

  • Neo Financial
  • Neo Financial World Elite

I understand the options you wrote out. But again, I’m confused about the Mastercard that’s linked to my Money Account and why I can’t find it via BP.

6

Alright, now I really wonder how Neo Financial World Mastercard user’s pay their bill.

The Neo Money Card doesn’t generate a bill so you can’t pay it off as a bill. Just like you can’t pay off your debit cards either. In both cases, you just get to spend whatever funds are in the associated account.