Hey everyone — quick heads-up about an update going out to Neo users this week.
TL;DR: The current Neo High-Interest Savings Account rate is changing from 2.25% → 1.25% on Dec 9, 2025, unless you move to the new Neo Savings (formerly Cash) account, which keeps the 2.25% base rate and lets you earn more as your total balance grows.
Switching takes under two minutes — you just open the new Neo Savings account and transfer your balance over. You can close the old account or keep it open, either way, you will be able to access your tax documents.
Why?
All new features (and recent releases like joint accounts) are only available to the new Savings accounts. There are technical reasons for this, but the most important thing is that the new accounts are better and are going to continue to get better. It is time to make the switch.
How do memberships tie in?
Neo is moving to a membership model where the higher interest rates will sit inside specific tiers. The good news:
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You can qualify for a free membership if you meet the minimum balance for that tier.
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You won’t need to subscribe to Grow immediately — Neo will prompt you when Grow officially launches.
Membership overview:
| Membership | Savings Rate | Balance Needed for Free Membership | Paid Membership |
|---|---|---|---|
| Essentials | 2.25% | $0 | $0 |
| Build | 2.50% | $5,000 | $20,000 |
| Grow (coming soon) | 3.00% | $20,000 | $12.99 |
Questions?
If anything’s confusing (rates, tiers, timelines), drop questions below — I’m happy to clarify whatever I can.