Novo - Small Business Checking
Built for modern businesses
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Description

Do you need a checking account for your small business? Novo is for modern businesses.

With Novo you can apply for an account online in minutes, so you have more time to focus on your business.

Novo is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A.; Member FDIC. Novo provides free banking tools to small businesses, all within the Novo app. You can link your existing accounts, control your debit card, pay your bills, process ACH transfers, deposit checks, categorize transactions, and separate your funds for savings in Reserves.

You’ll receive a Novo Mastercard Business Debit Card and The Novo Virtual Card to pay for things online, around the world, and use any ATM without fees from us. Send unlimited payments and paper checks for free.

Novo supports almost any business operating in the U.S. As long as the owner has a social security number, they're able to apply for a Novo Business Checking Account.
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User Rating

4.8 out of 5

13,682 ratings in United States

5 star
12,374
4 star
680
3 star
176
2 star
73
1 star
379

Ratings History

Reviews

HORRIBLE CUSTOMER SERVICE

oreabear2020 on

I’ve been trying to get in contact with Novo customer service for way to long now. I don’t emailed them lord knows how many times because I’m unable to get into my account. I have money deposited into my novo account from my business & now I can’t access my account. As I said I emailed multiple times & even tried to call using the number on the back of my card that was sent to me. Now I can’t even access my funds from my account. Its giving scam honestly. If I could rate novo a 0 to -5 stars I most DEFINITELY WOULD.

Welp, it happened to me too!! DO NOT DOWNLOAD THIS APP!!!!!!!

Kris Hilton on

I randomly decided to read the reviews for this app like a few months ago and noticed a lot of people saying their account randomly get frozen and there’s no resolution after that. Unfortunately, after moving thousands of dollars in and out my account for almost 2 years, they froze my account without notice! I didn’t even know about this until I tried to add my card to Stripe and got a decline message that my account was not active. Thank god I didn’t have any money in my account. I contacted support and they said my account is under review and they’ll follow up with me, but could t give me a time frame. I feel so bad for the people that kept money in their account and will probably never get it back. This is a corrupt app and they steal peoples money!!! The communication from customer support is bare minimum so do not depend on them for anything. DO NOT DOWNLOAD THIS APP!!!!!!! DO NOT TRUST THEM WITH YOUR HARD EARNED MONEY!!! And I’m not sure why the developers are responding to reviews and asking for information, as if this is a chat thread and we can respond back to them…c’mon now, this should tell you more than enough. The app is ran by corrupt idiots.

Easy but too much Red tape

PapiPrado on

The app is easy to use. Easy to navigate and offers a lot of stuff. Problem is that there is too much red tape. It’s a hassle to cash checks that are on the high side, always have to request increases and they are only temporary. Not sure why not just have someone review your account and make a change based on that. If your revenue from one sale are high, just go to a regular bank. Novo is for places that only have sales that under $20k at one time.

DO NOT USE THIS “BANK”

Jfab26 on

Terrible terrible company! They have had over $2500 of mine for a year now. There’s no help in getting my money! No customer service, no response to emails, nothing! They’re a scam!

Unacceptable processing and transfer times

MacM90 on

If you’re starting a business using this app, you better make sure that you have plenty of money on hand. Week-long processing times to deposit checks and multi day transfer times. Deposited a much needed payment on a Thursday and have to wait over a week and a half before I can use that money to pay bills. Switching to a real bank as soon as possible.

Dispute Team / Department lost or stole my money

CZJEXX2713 on

Filed a dispute that took about 4-5 months and they ended up taking the money from the merchant but never deposited either back to my account nor returned it back to the merchant. The money is just out there somewhere and I have been nonstop trying to get them to investigate where the money went and they are not being helpful. The merchant confirmed and showed me document that confirms that they withdrew the funds from them. I requested a formal documentation that shows the dispute resolution and they decline to provide that document which highly unusual. There's always digital or paper documents produced that inform customer about the result of their disputes. Not sure if anyone else has ran into this, but this looks like fraud and misusing of customer funds.

Terrible Format

Samuel C. Love on

Novo for the phone and web is great, but their ipad app is sub par and just a blown up iphone app. Needs to have an ipad specific app that looks and operates just as the web version does...

Mailing Address for checks wrong

imjustkm on

The app does say your customers are old see your Mailing Address for them to mail checks to. Totally fine with me. After months of messaging support and 4 different reps they still couldn’t figure out why Novo keeps exposing not even my business address but my billing address instead. Absolutely not an address I want to receive checks at, I had the PO Box set up for that in the app since the beginning and it just won’t use it. Worst part is that support keeps sending me around and keeps sending me the same answers even after they agree they have to fix this internally.

No help

Gab•B on

Newly opened an account and tried to make a deposit. Without even any explanation they shut my account down after I attempted to make an online check deposit… if you didn’t feel like you could trust my check you could have elaborated but instead they just shut my account down. I had to scramble to find a different one last minute so I could make some purchases on another account other than my personal account. They literally would not offer an explanation… nice. But yea, save yourself some time and go to another online banking business who will actually talk to you about how they operate.

Cryptocurrency ban

CharmingDTC on

They used to be good, but they are putting in more and more rules on what you’re allowed to do with your own money. Now you can’t use it to buy crypto. This is your money, not theirs. Don’t let them tell you you can’t use it.

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Revenue and Downloads

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App Info

Category
Finance
Publisher
Novo Platform Inc.
Languages
English, French, Spanish
Recent version
4.13.0 (3 weeks ago )
Released on
Sep 25, 2018 (5 years ago )
Last updated
2 weeks ago