Might there be an option to deposit cheques in the future?

Community Lounge
1

So, in addition to my regular 8 to 4, I work a contract job where I get paid by personal cheque.

To deposit these into my Neo Savings account (which is what I do with the funds from my side-gig), I have to deposit it to my account with my “big five” bank, wait 3 business days for it to clear, e-transfer myself the money and then move it into my savings.

Honestly, this is really the only thing that I absolutely need my big five account for. (And the fees that go with it)

I am not sure the logistics on what this would take, or if it might even be possible, but I would absolutely love the functionality in the app to deposit personal cheques directly.

Is this something that anyone else would find useful or am I alone on this?

2

Cheque deposits are coming soon, should be prior to the end of the year. Alpha testing is already on underway.

For what it’s worth, this is also a critical feature I have been struggling with, as a Neo user.

3

I believe it’s not far off!!!

I agree, the only reasons for keeping any accounts with Canadian Banks are;

US money account, Photo check deposits and a higher credit limit on my Mastercard for travel and larger Self employed expenses

Cannot wait to walk into my bank that offers terrible service and close all my accounts with them

4

Would love this!