Digital Account Fit Canada: Deposit, Savings or Prepaid?

1 · Define the account requirement

Primary job Branch or cash-service dependency? Paper cheque or mobile deposit required? Joint, business, trust or estate ownership?

Open the relevant next step

2 · Verify the category before the offer

Sources checked August 13, 2026. Product names, agreements, fees, limits, rates and protection can change.

FCAC · Account Comparison ToolCompare institution-supplied chequing and savings features, fees and services. CDIC · Fintech protectionProtection depends on the product, member institution and how eligible deposits are held. Neo · Current Everyday AccountReview the current product description and its provider/protection footnote. Neo · Current agreements and feesOpen the exact Everyday Account, prepaid card and fee-schedule documents that apply. KOHO · Current cardholder agreementReview the prepaid product, loaded-funds, fee, limit and dispute terms.

Digital deposit-account path

Review the Neo Everyday product before continuing

This path appeared only because you selected a digital everyday deposit account without a stated branch, cheque or complex-ownership dependency. The official product page currently says the Everyday Account is provided by Peoples Bank of Canada and eligible deposits may receive CDIC protection subject to its stated combination and category limits. Verify the exact agreement and your eligibility.

I reviewed the current Neo Everyday product page, provider footnote and the services I need. I opened the current Everyday Account and prepaid-card agreements plus the disclosure/fee schedule, and will rely on those documents rather than this summary.

Confirm both current-source boundaries to continue.

Continue through Bremo

Commercial disclosure: Bremo may receive compensation after a qualifying referral through its existing partner route. A plan, fit result or handoff does not prove eligibility, account opening, funding, paid conversion, revenue or profit.

Prepaid-spending path

Review the prepaid-card trust boundaries first

Your selected job is personal prepaid spending without a stated branch, cheque or complex-ownership dependency. KOHO’s current cardholder agreement and CDIC’s fintech guidance need a separate review before any provider handoff.

Open the KOHO trust checklist

This owned step is not a provider handoff, account opening or conversion.

What this comparison refuses to do

It does not publish volatile rates, reward percentages or signup amounts as durable facts.
It does not call every digital product a bank or label every balance CDIC protected.
It does not prescribe a four-account stack or select a provider before product fit.
It does not transmit your answers or count a route click as a paid conversion.

Action-time rule: re-open the exact provider agreement, fee schedule, limits and protection disclosure before applying.

Compare the account job, not four brand names.

1 · Define the account requirement

Open the free Canadian Bank Churning Playbook.

2 · Verify the category before the offer

Review the Neo Everyday product before continuing

Review the prepaid-card trust boundaries first

What this comparison refuses to do