Joint chequing accounts are now available!
Neo just launched joint chequing accounts — another step toward financial clarity and access for Canadians who manage money together.
Why this matters
Joint accounts let couples see where the money is going, in one place. Both partners can also move money independently, without one person being the gatekeeper for every transaction.
I’m a believer in shared finances for a personal reason. There’s a retired family in my life. The father was a financial advisor and managed the family’s money his whole life. Nobody else had visibility. They didn’t know he had been slowly losing their retirement savings on the stock market until he had to borrow from his daughter to pay off a credit card. They ultimately sold their house and went back to work — a financial tragedy that could easily have been avoided with a second set of eyes on things.
That’s why my wife and I were part of the alpha test for this feature, and why I’m glad it’s launching now for all Neo users.
How to get started
Joint chequing is available if you have a Neo Chequing account (not the older Everyday account). You can open one in about two seconds — no credit check.
Heads up on PADs: if you open a new Neo Chequing account, your account number will be different, so you’ll need to update your pre-authorized debits. Most of us have done that drill recently.
Coming soon: 1-click migration will let you convert your existing Everyday account into a Neo Chequing account without updating PADs. From there, you can convert that account into a joint account.
If you’ve been waiting for a simpler way to manage money together, this is it. Let me know your personal experience in the thread.
Special thanks to everyone who helped out in the beta — you know who you are!