Neobanc vs Chexy: Fees, Cashback and Rewards Compared (2026)

Neobanc vs Chexy comes down to one question: who pays you more for paying rent? Both let Canadian renters pay rent by credit card while the landlord gets paid as usual. Chexy charges 1.75% and passes through your card's rewards. Neobanc charges 1.5% by card, adds 1% cashback on top, and also lets you pay by free Interac e-Transfer and still earn 1%.

Below, you'll see how the fees compare, what you actually net on $2,000 of rent, how each app works and how each one reports your rent to the credit bureaus.

Neobanc vs Chexy at a Glance

The biggest difference is who pays you. Chexy passes through your card's rewards and charges for it. Neobanc adds its own 1% cashback on top.

Fees and offers checked on each company's site on October 30, 2026.

What You Actually Net on $2,000 Rent

Here's the yearly result on $24,000 of rent, after fees, depending on what your card earns on the payment:

Three things stand out:

• Neobanc nets you $300 more a year than Chexy, whatever card you use. Its card fee is 1.5% instead of 1.75%, and it adds 1% cashback, so you keep 1.25% more of every payment. On $24,000 of rent, that's $300.
• Chexy only pays off with a strong card. Your card needs to earn more than 1.75% on rent before you come out ahead at all.
• With Neobanc, paying by e-Transfer often beats paying by card. E-Transfer is free and still earns 1%, while a card costs 1.5%. A card only comes out ahead if it earns more than 1.5% on rent.

Before you pay rent by card, check what your card actually earns on these payments, since bonus categories don't always apply to rent paid through a third-party service. And pay the balance in full: card interest costs far more than any rewards.

How the Rewards Stack

With Chexy, you earn whatever your card earns, minus the 1.75% fee. With a 4% card, that's a 2.25% net return.

Neobanc adds its own cashback. With the same 4% card, you earn 4% from the card plus 1% from Neobanc, minus the 1.5% fee, for a 3.5% net return. The gap grows with your rent.

What About Chexy Plus?

Chexy Plus costs $20 a month, or $200 a year. Billed yearly, it lowers Chexy's card fee to 1.5% on Canadian cards. On $24,000 of rent, that saves $60 in fees but costs $200, so it only pays off once you put more than $80,000 a year through Chexy. Even then, there's no cashback on top, so Neobanc still nets more on the same card.

Paying $2,500 a Month

On $30,000 of rent a year with a 4% card:

• Chexy by card: $1,200 in card rewards minus $525 in fees nets $675 a year.
• Neobanc by card: $1,200 in card rewards plus $300 in Neobanc cashback, minus $450 in fees, nets $1,050 a year.
• Neobanc by e-Transfer: no fee, and $300 a year in cashback.

That's $375 more a year with Neobanc on the same card.

With a Lower-Earning Card

A 2% card shows the difference clearly. On $2,000 a month, it nets $60 a year through Chexy ($480 in rewards minus $420 in fees). Through Neobanc, it nets $360 ($480 in rewards plus $240 in cashback, minus $360 in fees).

Try your own rent and card below, or use the Neobanc cashback calculator.

How Each One Works

Neobanc. You add your rent amount and your landlord's email, then fund the payment by Interac e-Transfer or card at least 3 business days before rent is due. On the due date, Neobanc pays your landlord by Interac e-Transfer, and you both get a confirmation. As long as your landlord accepts e-Transfers, nothing changes for them. Your 1% cashback goes toward next month's payment.

Chexy. You add your landlord and a card. Chexy charges the card a few business days before rent is due and sends the rent by Interac e-Transfer or direct deposit. Chexy Plus members can link up to 10 cards and split a payment across them.

Neobanc is registered with FINTRAC as a money services business and is PCI-DSS compliant.

Neobanc Key Features

• Cashback on top of card rewards: 1% on every rent payment, plus whatever your card earns.
• Two ways to pay: free Interac e-Transfer, which still earns 1%, or Visa or Mastercard for a 1.5% fee.
• Rent reporting: free and 100% opt-in, plus past rent reporting for up to 24 months.
• Bill pay rewards: 1% cashback on utilities, phone, internet and credit card bills, across more than 4,000 Canadian payees.
• Gift cards: cashback on gift cards from major brands.
• No landlord setup: works with any landlord who accepts Interac e-Transfer.

Chexy Key Features

• Card payments: pay rent with Visa, Mastercard or Amex and earn your card's rewards.
• Fees: 1.75% on Canadian-issued credit cards and 2.5% on international cards. Debit card payments have no processing fee.
• Rewards: points, miles or cashback from your card issuer. Chexy doesn't pay ongoing cashback on rent itself, though it runs periodic promotions, such as Aeroplan offers, and referral rewards.
• Chexy Plus: $20 a month or $200 a year, with Equifax rent reporting, lower card fees on yearly billing, and up to 10 linked cards.
• Automated payments: schedule rent so it goes out on time each month.

Building Credit With Your Rent

Both apps can report your rent so it counts toward your credit history. The difference is reach and cost. Chexy reports rent to Equifax as part of Chexy Plus, at $20 a month. Neobanc's free, opt-in rent reporting goes to two major credit bureaus, Equifax and TransUnion, so a lender sees it whichever bureau they check.

Neobanc can also report up to 24 months of past rent for $1.99 per month reported, with no subscription. You choose the months, upload your lease, and connect your bank or upload statements. That helps if you've rented for years and are only now starting to build your credit with rent.

Beyond Rent: Bills, Tuition, Taxes and Mortgages

Both apps handle more than rent. Chexy lets you put bills, taxes and tuition on a card at the same fees, and you earn your card's rewards. Neobanc adds its own cashback:

• Everyday bills such as utilities, phone and insurance earn 1% cashback. A 1.5% fee applies if you pay by card.
• Credit card bills funded by Interac e-Transfer earn 1% cashback, with no fee. (Card bills can't be paid with another credit card.)
• Tuition earns 1% cashback, and you can pay it by credit card.
• CRA payments can be made by credit card.
• Mortgage payments earn 0.5% cashback.

Comparing more options? See Neobanc vs TenantPay and our roundup of rent cashback apps in Canada.

Combined Value Example

Say you pay $2,000 a month in rent with a 4% card and $300 a month in bills by Interac e-Transfer, all through Neobanc:

• Rent: $840 a year net, after the 1.5% card fee.
• Bills: $36 a year in cashback, with no fee.
• Gift cards: extra cashback on any gift cards you buy, depending on the brand.

That's $876 a year before gift cards. Through Chexy, the same rent nets $540, and bills paid there by card cost 1.75% and earn only your card's rewards.

Payment Methods Compared

Neobanc

• Interac e-Transfer: free, and earns 1% cashback.
• Visa or Mastercard: 1.5% fee, and earns your card's rewards plus 1% cashback.

Chexy

• Credit card (Visa, Mastercard, Amex): 1.75% fee on Canadian cards, and earns your card's rewards.
• Debit card: no processing fee, and no rewards from Chexy.

With Neobanc, both ways of paying earn cashback, so you can pick whichever suits you each month. If your best rewards card is an Amex, Chexy accepts it for rent and Neobanc doesn't, though you can still pay your Amex bill through Neobanc and earn 1%.

Who Gets the Most From Neobanc

Neobanc works best for renters who want every payment to earn something:

• Renters with a Visa or Mastercard that earns well on rent, who keep their card rewards and add 1% on top.
• Renters who'd rather not use a card, since free e-Transfer still earns 1%.
• Anyone paying $2,000 or more a month, where the difference adds up to hundreds of dollars a year.
• Canadians who want rewards on utilities, phone and credit card bills, not just rent.
• People who buy gift cards and want cashback on those too.

With a 4% card, Neobanc nets 3.5% on rent compared with Chexy's 2.25%.

Other Rent Payment Options in Canada

A few other options come up when Canadians compare rent payment apps. For a full ranking, see our guide to the best Chexy alternatives.

• Borrowell Rent Advantage: rent reporting only, for $10 a month, with no cashback on rent.
• TenantPay: card payments with fees from 1.75% on Visa credit to 2.75% on Mastercard credit. It rewards tenants with TenantPay Points rather than cashback.
• Paying your landlord directly: free by bank transfer or e-Transfer, but it earns nothing and isn't reported to the credit bureaus.

Among apps that pay you for paying rent, Neobanc and Chexy are the two most Canadians compare, and Neobanc is the one that adds its own cashback.

Which One Saves You More on Rent

If you pay rent by Visa or Mastercard, Neobanc costs less and gives more back: a 1.5% fee instead of 1.75%, plus 1% cashback on every payment. On $2,000 a month, that's $300 a year more than Chexy, whatever card you use. If you'd rather not use a card, Neobanc's free e-Transfer option still earns 1%.

Either way, your landlord gets paid as usual, and with Neobanc your rent can count toward your credit history at two major bureaus at no cost.

Frequently Asked Questions

Is Neobanc or Chexy better for maximizing rent rewards?

Neobanc. It charges 1.5% to pay rent by card instead of Chexy's 1.75%, and it adds 1% cashback. On $2,000 a month, you net about $300 more a year, whatever your card earns.

Do both Neobanc and Chexy charge fees?

Yes, for credit card payments. Chexy charges 1.75% on Canadian-issued Visa, Mastercard and Amex. Neobanc charges 1.5% on Visa and Mastercard, and paying by Interac e-Transfer is free. Neobanc's 1% cashback then offsets most of its card fee.

What's the difference between Neobanc and Chexy rewards?

Chexy passes through your card's rewards. It doesn't pay ongoing cashback on rent itself, though it runs periodic promotions, such as Aeroplan offers, and referral rewards. Neobanc adds 1% cashback on top of your card's rewards.

Can I use Interac instead of credit cards?

Yes. With Neobanc, paying by Interac e-Transfer is free and still earns 1% cashback, applied toward next month's rent. It comes out ahead unless your card earns more than 1.5% on rent.

Which credit cards work best with these platforms?

With Neobanc, a Visa or Mastercard that earns more than 1.5% on rent beats paying by e-Transfer. With Chexy, a card needs more than 1.75% just to break even. Check what your card earns on rent paid through a third-party service.

Does Chexy have any advantages over Neobanc?

Yes. Chexy accepts Amex for rent, lets you pay by debit with no fee, and runs Aeroplan promotions for points collectors. It doesn't add its own cashback the way Neobanc does, and its card fee is higher.

Which service helps build credit faster?

Credit history builds one on-time payment at a time on both. Neobanc's free, opt-in reporting goes to Equifax and TransUnion and can add up to 24 months of past rent. Chexy reports to Equifax through Chexy Plus, at $20 a month.

How much cashback can I earn on rent with Neobanc?

1% on every rent payment, whether you pay by free Interac e-Transfer or by card, applied toward your next rent payment. On $2,000 a month, that's $240 a year. If you pay by card, a 1.5% fee applies, and you keep your card's own rewards on top.