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Canadian neobanks — compared, rated, verified
Independent evaluations of the main neobanks available in Quebec. No advertising, no active commercial partnership — only verified public data, a weighted criteria grid and an editorial score /10.
2026 comparison — 5 neobanks evaluated
| Neobank |
Score /10 |
Strong point |
Who it’s for |
Analysis |
Wealthsimple (chequing account)
wealthsimple.com | 8.2/10 | No monthly fees or foreign exchange fees | People who already invest with Wealthsimple | Read the analysis |
EQ Bank
eqbank.ca | 7.8/10 | Direct CDIC deposit insurance, no monthly fees | Prudent savers who want direct CDIC protection | Read the analysis |
Tangerine
tangerine.ca | 7.6/10 | Chartered bank regulated by OSFI, CDIC member | Those looking for a complete bank with no monthly fees | Read the analysis |
KOHO
koho.ca | 7.5/10 | 1% to 2% cashback depending on the plan | Mobile users who want a complete banking app | Read the analysis |
Neo Financial
neofinancial.com | 7.3/10 | Cashback from more than 10,000 partners | Those who want to maximize cashback at partner retailers | Read the analysis |
📋 AMF compliance note — This site is published for independent information and comparison purposes. The /10 scores are editorial evaluations based on weighted criteria — they do not constitute a recommendation or financial advice. Neither AffilReviews360 nor InnovE-Tech Solutions inc. is registered with the Autorité des marchés financiers (AMF) as a financial intermediary. Consult an adviser registered with the AMF before making any investment or banking decision.
Data verified on: 2026-10-05 · lautorite.qc.ca · 1-877-525-0337
How we evaluate neobanks
Our scoring system (version v2) is based on 8 weighted criteria: pricing and fees (20 %), interest rate and return (15 %), deposit insurance and compliance (15 %), mobile and web experience (15 %), customer support (10 %), security and fraud protection (10 %), complementary products and services (10 %), transparency and governance (5 %). See the full methodology →
All analyses
The Wealthsimple chequing account (formerly Wealthsimple Cash) has no monthly fees or foreign exchange fees, reimburses ATM fees and extends CDIC protection up to $1M through member institutions; its highest rates, however, require significant assets at Wealthsimple or a direct deposit.
Read the full analysis →EQ Bank appeals to prudent savers thanks to its backing by a Schedule I bank, direct CDIC deposit insurance and its zero-fee pricing, but its offering does not include brokerage, unlike Wealthsimple.
Read the full analysis →Tangerine, the trade name of Tangerine Bank, a wholly owned subsidiary of The Bank of Nova Scotia, is a chartered bank and a CDIC member. It offers 24/7 phone support for everyday banking, an extensive banking range and a chequing account with no monthly fees, but its Savings Account earns only 0.30% outside promotions.
Read the full analysis →KOHO offers a prepaid Mastercard with cashback and three plans: Essential ($0 per month under conditions), Extra ($12) and Everything ($14.75), which earn 2% to 3.5% interest and 1% to 2% cashback. CDIC protection, up to $100,000, only applies once the Earn Interest option is activated.
Read the full analysis →Neo Financial brings together cashback credit cards, a Neo Chequing account with no monthly fees and a Neo Savings account that earns from 2% to 2.75% depending on the membership. Funds in these accounts are held in trust at CDIC member institutions and are eligible for CDIC protection up to $100,000; Neo itself is not a CDIC member.
Read the full analysis →
AffilReviews360 Finance is an independent publication from InnovE-Tech Solutions inc. No active affiliate link — applications are under review. Scores reflect the state of the services as of the verification date indicated above.
