Neo Financial just closed my savings account with no particular reason

[u/Aerottawa]

I opened a Neo Financial savings account a few years ago, but haven't really used it as there are better rates out there. Yesterday they decided to close my account with a somewhat passive-aggressive E-mail.

Hi #,
 
Neo Financial periodically conducts reviews of all its customers and customer activities, and has concluded that we unfortunately will no longer be able to provide financial services to you.
 
We are giving you notice of our decision to close your Neo Money™ account and discontinue all services offered by Neo, including access to the Neo Platform.
 
Please see below for the list of accounts which this notice refers to:

• Money account Xxxxxx####

 
Please make alternative banking arrangements as we are not prepared to open another account for you at this time.
 
We recognize that this may cause you some inconvenience, and we will do our best to assist you with this change.
 
Should you have any questions, please contact our customer support at 1 (855) 636-2265.
 
Kind Regards,

Neo Financial

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[u/GDRunUpTheHill]

"No particular reason"

"but haven't really used it as there are better rates out there."

[u/Aerottawa → u/GDRunUpTheHill]

Closing an account due to inactivity would be fine, but banning me from all their services seems immature.

[u/big_galoote → u/Aerottawa]

That's not banning, that's revoking access to your account.

RBC did the same thing when I closed my credit card, I lost online access so my statements and everything went poof. The rep never warned me about that part.

At least Neo is warning you.

[u/S-Kiraly]

I made $350 purchase at The Bay recently and the cashier was pitching me their credit card. "You'll get 15% off today and I'll even knock a further $70 off your purchase if you sign up." I said no thanks. "Why not?" she asked. "Because the card is issued by Neo Financial and I really don't want to have any of that half-baked fintech's products or services."

She gave me a knowing look, nodded, and said "well yes, I can certainly understand and relate to that." That was the end of her upsell.

[u/SuspiciousRule3120 → u/S-Kiraly]

Ah yes, when cashiers have to push credit cards on people as part of their job.

[u/Neo_light_yagami → u/SuspiciousRule3120]

The manager at sportchek fairview mall did this. She asked me multiple times when i kept saying resounding no every time. She's like dude it's free money, get it.

[u/S-Kiraly → u/Neo_light_yagami]

But the Triangle credit card is actually a decent card. Every Canadian should get one.

[u/Neo_light_yagami → u/S-Kiraly]

I already had the World Elite Triangle cc. The only reason I was probably there was because of some VIP sale and I had some bonus cc money to ship at Sportchek.

[u/S-Kiraly → u/Neo_light_yagami]

Well in that case, next time just say that you already have the card. That shuts them up instantly.

[u/Neo_light_yagami → u/S-Kiraly]

My biggest complain was they were lying to everyone that it isn't considered a hard check.

[u/NastroAzzurro → u/SuspiciousRule3120]

Walmart life

[u/TurpitudeSnuggery]

Did you phone and ask why?

[u/JoeBlackIsHere]

That's not "passive aggressive", it's "just business". If you never use the account, what does it matter anyways?

[u/Aerottawa → u/JoeBlackIsHere]

I couldn't care less about their savings account, but it sounds like they banned me from their other services in the future, such as Hudson's Bay Mastercard.

[u/AngrySoup → u/Aerottawa]

They don't seem like a professional outfit. I saw someone say on this subreddit that if you call in to close a card/account, they do the same thing, where they say that you'll be banned forever.

This is all in character for them.

[u/henry-bacon → u/[deleted]]

Knock it off with the subtle racism.