Novo Reviews

Great online bank but sometimes it can be hard to get outside financing with this account.

Date of experience: August 14, 2024

Don't use Novo. Novo.co is single-handedly putting my business at a standstill. After more than a week of requests, phone calls, and support tickets, I still cannot get them to sign a simple PDF needed to register on pmsapp.psc.gov. My team can't be paid, and our business can't move forward because Novo.co is unresponsive. To make matters worse, their customer service refuses to connect me with anyone who can actually help resolve this issue. If you're thinking of using Novo.co for your business banking, think twice. They have left me feeling utterly helpless in a time of need.

Date of experience: August 15, 2024

Oh, let me tell you about Novo, the small business bank that has become an absolute lifeline for my business! Seriously, it's been a total game-changer.


First and foremost, Novo is super easy to use. I am by no means a banking expert, but navigating through their platform is a breeze. They've built it with small businesses like mine in mind, so everything is intuitive and straightforward. No complicated jargon or confusing processes to deal with here!


But what really sets Novo apart is how incredibly small business-friendly they are. From the get-go, it's clear that they understand the unique challenges we face as small business owners. They've designed their services to address those pain points head-on, making it easier than ever to manage my finances with confidence.

Date of experience: April 30, 2024

Hands down the best business bank ever! Particularly, small business owners or startups. There are literally no fees, extra charges, and they even give you a business line of credit once you start having revenue on your account. Their customer service is wonderful as well! I've been using them since Sept 2021! I have no regrets! Love them!

Date of experience: December 10, 2023

Really easy to set up. Works as intended most of the time with no disruption to business related activities.

One minor issue I've had over the year using Novo is understanding how deposited checks using the mobile app reflect in analytics. Between the pending time and cleared time, the amount deposited gets moved to the reserves. This only impacts my ability to know which month the amount is credited if deposited near the end of a month.

Date of experience: January 10, 2024

Novo has changed my life! As a small business owner running a production company, being able to manage more than my company's money in a single platform seemed undoable.

But Novo has done it.

With payroll integration, plentiful partner benefits, and helpful analytical tools, I've been with Novo for a while—and I have only watched how the company continues to improve and add more benefits. As a Latina and Asian woman running a business on my own, these business benefits mean *everything*. It's almost like Novo wants to bring make entrepreneurship more equitable!

This digital-first bank works so well for my own business model (most of our transactions are digital), and I have had no complaints in my 2 years of being a customer. I love continuing our company's growth journey—as Novo does the same.

Date of experience: April 30, 2024

I chose Novo bc of the ability to create "profit first" style reserves to manage cashflow and set aside profit for myself. It's great that once you set up the reserves and percentages, Novo automatically divides deposits between the reserves.

I have had no issues with the site or app thus far.

Date of experience: December 12, 2023

I love the simple interface & the ability to put funds aside in reserve. The business features are fantastic, above and beyond what many banks offer.

I took off one star because it's been a struggle to make this account interface with Paypal at all, even using a manual connection. I'd like to use this as my primary business bank account, but I have to maintain an account somewhere else in order to deposit Paypal funds. The support has not been at all helpful with this.

Date of experience: December 11, 2023

I love NOVO! The feature I most appreciate as a small business owner is the Novo Funding perk. It is so simple and easy to use and help you make payments while waiting for funds to arrive in your account. It is also a great that I can make a payment to an overseas vendor easily. Best choice for my business, great support and overall loving the experience. Open an account today!

Date of experience: December 08, 2023

A great solution for a small online business. No hidden fees and they do what they say they will do. One star off because when logging in using the browser, you have to get the authentication code via text, email doesn't work even though it's listed as an option.

Date of experience: January 14, 2024

Novo is a excellent service for small and Startups. The onboarding process is simple and faster than a local bank. The app is full of financial services and features that will help you manage your finance with easy, and the $0 fees aren't comparable with any local bank or financial institution. Highly recommended!!

Date of experience: December 01, 2023

Brilliant service. Easy to use. Has features that make it easy for me to transfer money and manage my taxes. Always innovating and reaching out to their clients. So much more proactive and less faceless than a traditional bank.

Date of experience: December 01, 2023

I've had a fantastic experience with this Bank. As a small business owner and entrepreneur they have really made it easy to set up my accounts, pay vendors, and manage my money easily on the go. It really goes a long way that they do not charge you fees, and the referral program is one I have already taken advantage of.

Date of experience: December 03, 2023

Great experience. Great banking. Only complaint is that your card will get declined on the first attempt if it doesn't seem like a business transaction. You have to go into the app to approve. Besides that no issues

Date of experience: August 21, 2023

I highly recommend Novo for business owners. Their self-service resources are informative and reliable, and they help me quickly get the information I need.

Novo's customer support is also very responsive and helpful. I've contacted them several times for specific inquiries and they promptly and patiently answer my queries.

The Novo banking app is easy to navigate. I especially like being able to create reserves for things I want to set aside funds for and having the ability to set how much I want to put into each reserve.

Date of experience: December 02, 2023

Great partner for a small new business. Simple app, easy interface, quick responses from support. Also great to have the perks and integrations!

Date of experience: May 27, 2024

It was easy to set up, with no hassle like some other banks. Making name, EIN, and other changes later was easy as well and the support team was courteous and efficient. I highly recommend Novo online bank for your company banking.

Date of experience: December 01, 2023

I had wanted a solution for starting up my small business and Novo had everything I needed and then some. Invoice, ACH transfers, integration with other platforms like Square and Quickbooks.

Date of experience: January 20, 2024

Update: The client's bank sent a check instead of an electronic transfer. For some reason, Wells Fargo will not let their customers make transfers to Novo. Support eventually contacted me, but the person didn't understood my problem because I was given boiler plate answers for issues I wasn't having. I was able to deposit the check digitally with no problem so I added 2 stars. Original post below.

I opened an account April 2024 and created invoices. The first invoice was paid and the client sent a screenshot of the confirmation. Funds were to be available in 7 days. It's now 11 days past the transaction date. The transaction is labeled as overdue on Novo. I started a support ticket on a Monday morning. 24 hours later, there's no acknowledgement of the support ticket. I sent another message Tuesday afternoon and got a reply that they're open M-F and will get back to me when they can. I also reached out on twitter. No reply. Needless to say, I cancelled all scheduled invoices. No money. No support. Don't risk your sensitive financial information or waste your time & money with Novo.

Date of experience: May 19, 2024

We were a small business and found that Novo was a perfect match for our startup needs. The services offered were extremely helpful to us including invoicing, EFT transfers, bill pay, and reserves. The only negative we experienced was the inability to perform domestic wire transfers; but we were able to work around that limitation.

Date of experience: December 05, 2023