New Product Feedback! We want to hear from you!

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Hi friends,

We’ve been working on some exciting new products the last few months and can’t wait to share them with you! As community members and Neo users, we value your feedback and input to help us make the best product possible.

We’re looking to make changes to our Everyday account to help reward our customers when they do more with Neo. This program will offer higher credit card cashback rates for higher Everyday account balances, putting more money back in your pocket.

We’ve added some screenshots of our upcoming website changes that we’d love your thoughts on:

  • What are your biggest takeaways from these pages?
  • Is it clear how you can increase your credit card cashback?
  • What’s missing? How can we aid comprehension?
  • Would you be interested in these products? Why or why not?

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I have been using neo credit card for more than 2 years. neo has the most comfortable user interface web account in comparison. neo has a very good customer service. BUT they could NOT solve all of customers’ problems. the case: 3 months ago I decided to change my telephone number. then I changed the telephone number in all my bank accounts with couple of clicks BUT neo. neo gave an error “Phone already belongs to a customer.” since then I called customer service maybe 10 times, I re-identified myself. BUT THE ISSUE STILL EXISTS
Screenshot 2024-07-24 091638
. I hope neo can solve the HUGE problem soon.

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Thanks for sharing @teef - sharing with the product team as an opportunity right now.

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I have the same issue. For reasons, my wife signed up with my phone # and I signed up with hers.

Now we can’t go into account settings and switch back to the correct phone numbers because of this xDDDD

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Instead of “money goes in” why not “Keep your account balance over”?
Honestly, took me a while to understand what was going on.

You might also want to advertise an additional benefit of keeping a high balance in the checking account, which is the interest rate.

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Appreciate the flag @farchangelo - sharing with our team and will keep posted with any updates!

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Great feedback @farchangelo ! We’ll look to incorporate different ways to communicate the messages across our channels.

And around other benefits - we’ll be looking to add additional pages with further details and account benefit highlights, so great call out!

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I would love if we could invest in TFSA with Neo!!

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Hey @4kristian34 Thanks for your suggestion! While we don’t currently offer a TFSA, we have other great options to grow your savings.

You might like our High-Interest Savings Account (HISA) with a 4.00% interest rate. It’s secure and flexible. We also offer actively managed portfolios through our partner, OneVest, for tailored investment solutions similar to a TFSA.

For more details, visit our website here. If you have any other questions, feel free to ask!

EDIT/ UPDATE:

We do offer a TFSA directly in our app with OneVest. We currently offer 3 different managed portfolios and it requires a $1000 minimum initial deposit/balance!

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i had problems and still have problems upgrading from secured credit card to an actual credit card with you guys a few months ago i got a notification from you guys saying i was ready for an upgrade to an actual credit card and everytime i do the application it tells me im approved for a secured credit card, even though i have multiple other cards and with big names like amex too, i tried again today but still wasnt apporved which im pretty confused about

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Some great ideas from a user posted on LinkedIn - Notion – The all-in-one workspace for your notes, tasks, wikis, and databases. @chaebacca @elizabeth.corbett

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Thanks for the feedback @letrell77! Our team will be in touch to learn more.

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There’s just one thing I wanted from neo: change the date my credit card statement closes. It bugs me that it’s always between 10 and 12 of each month. Could you add like, 2 or 3 days for us to choose? Like, I wanted my statement to close on the last day of the month (30-31).

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Hey @4kristian34 I have an update for you!! We do offer a TFSA directly in our app with OneVest. We currently offer 3 different managed portfolios and it requires a $1000 minimum initial deposit/balance. Hope that helps!

Let me know if you have anymore questions about it. :slight_smile:

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  1. This looks like a new initiative designed to increase AUM.

  2. How is more clear than why.

  3. It is not clear who this is for. Is it aimed at existing Neo users or acquiring new users? Those would arguably be two different user personas – one is already familiar with Neo and trusts the brand enough to be a user, the other is much earlier in their journey. Current Neo users cannot “switch” to Neo because they already have these accounts. Using words like “new” to describe existing (i.e. not new) products can be misleading. It is unclear who and how will end up on the landing page to read this information. Existing users are much more likely to see things in the app that they already have than on the webpage that they have no reason to go to.

  4. It is not clear which products are new here. All of these products were available earlier this year, no? The only new feature seems to be the call to action to deposit funds into the money account to increase cashback, and existing users seem to have been autoenrolled into this.

Side note: $31.4M Cashback awarded to date with 1.3M+ Customers means less than $25 of cashback per user awarded to date. This means that either the cashback promise is exaggerated (which is unlikely because it is easy to earn cashback with Neo), or that most users are not really active, which I think is more likely. This is a big problem and I would certainly not include the current “cashback awarded” number in any promotional materials.

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