NOVO Reviews

7.6

Excels in business checking accounts

Written by David Bufton

About NOVO | Read More

8.2

LS Score

9.1

Credibility

6.4

Support

6.8

Accessibility

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Opening Hours

Mon-Fri 9am-6pm EST

Sat-Sun Closed

Contact Information

support@novo.co
Headquarters: 43 W. 23rd St., Floor 6 New York, NY 10010

Social Media

8.2

LS Score

9.1

Credibility

6.4

Support

6.8

Accessibility

Visit Site

Opening Hours

Mon-Fri 9am-6pm EST

Sat-Sun Closed

Contact Information

support@novo.co
Headquarters: 43 W. 23rd St., Floor 6 New York, NY 10010

Social Media

NOVO Online Banking Review

NOVO’s business banking platform offers a suite of financial products and services to help small businesses manage their finances more efficiently. Their platform includes features such as online banking, mobile check deposit, ACH payments, and business debit cards.

NOVO has a user-friendly interface that allows business owners to easily manage their finances and make informed financial decisions. The platform is designed to be simple and intuitive, making it easy for businesses of all sizes to access the financial tools they need to succeed.

NOVO Online Banking Highlight

Unlimited

ATM Network

$27

Overdraft Fees

Yes

Other Fees

Business Online Banking

No minimum

Min Deposit

Pros & Cons

No hidden fees, minimum balance requirements and unlimited ATM refunds
Integrations with top tools like Quickbooks, Stripe, Square, Shopify and more
Automated budgeting with Novo reserves

No physical branches, if needed
Cumbersome to make a cash deposit
No interest paid on checking account balance

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Features Benefits & Rewards

No fees
ATM fees refunded
No minimum account balance required
Can accept payments using Stripe

Account Types

Business Checking

The only type of account Novo offers; it is fee-free and comes with a mobile app. A debit card is also available. Unlimited deposits can be made without fees. For cash deposits, cash must first be turned into a cashier’s check, then that check is deposited.

Account Type	Key Features	Bonuses
Business Checking	Can send invoices through checking account Connects with Stripe, Square, and PayPal Can easily transfer money in or out of Novo from outside linked bank accounts	None

Opening an Account With NOVO

The Novo Business Checking account can only be opened on the Novo website. Novo claims the account opening process will take under 10 minutes, which we found to be true.

State Availability

- Available in all states

Written by David Bufton

After graduating from the University of Warwick with a degree in accounting, David went on to become a fully certified accountant. Since then, he has amassed years of experience working in and writing for various sectors, including finance, gaming, and telecommunications. Now, he uses his extensive experience and knowledge in business and finance to deliver top-quality content.

FAQ’s

What business documents do I need to open an account?

Novo requires that all applicants have a copy of their signed personal identification, a mobile phone using one of the major US carriers, a Social Security number, and a U.S. address to complete the application. All applicants must be at least 18 years old. Depending on your business type, we may require additional information for you to apply.

Is my money FDIC insured with Novo?

Yes, your money is FDIC insured with Novo through Middlesex Federal Savings up to $250,000 per depositor.

Do you check my credit history when I apply for a Novo account?

Novo will not check your credit history when you apply for a Novo account. Also, having an account with Novo will not affect your credit score.

Customer Support

The Novo customer support team can be contacted by email, phone, or the Novo app. We were unable to interact with Novo’s telephone support team because the phone number is not listed on their website; you can only find it on a Novo debit card (if you have one). Otherwise, email or the Novo app are the only ways to reach someone in customer support.

In Conclusion

For a small business that wants a free business checking account and keeps a balance of under $250,000, Nova is a suitable choice. However, a customer support number is not listed on the website, and support reviews from Novo customers are mixed.