Novo Reviews

Powerfully Simple Business Banking | Novo Business Banking

novo.co
3.55
141 reviews
Great Rating
Based on 141 user experiences

Rated 3.55 out of 5 by 141 Happy Customers

42.6%
14.2%
14.2%
14.2%
14.2%
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A

I lost trust in them after they asked

I lost trust in them after they asked me to send my identification via unsecured email and then held my businesses money because I would not do so Ridiculous To this day I do not have access to my business account even logging in with the original device where they can see the IP address same login information etc At one time they were good Along the way I ve seen similar stories from others online They are not trustworthy any more and I will only bank with entities that have a brick and mortar location because of this
A

Novo has serious security issues Extremely bad customer service

Some funds were stolen from my account at the end of March 2023 What s worse Novo was alerted about the suspicion of theft even before any transaction took place Unfortunately they did nothing to stop the theft So many tickets opened about the issue and Novo made only a partial return of my funds after 5 months They re not only a very unsecure bank but also keep your money like crooks I ve moved all my funds to another institution because of this experience Luckily the theft was a small amount
R

I would not recommend Novo as a

I would not recommend Novo as a business checking account Because Novo is a front for a bank it lacks functionality that other banks have It takes longer to move money There are fees for things that other banks do not charge Overall we ve had too many problems with the company to recommend it to others While the biggest banks like Chase are terrible options for small businesses in our experience this particular option is not a good alternative Looking for a new option to switch
L

Horrible customer service

Horrible customer service third-party overseas and no one that actually speaks English This is a Tech company and not even a real bank Don t count on ANY support for them to follow the law or use Mastercard s zero liability policy if someone commits fraud and takes money from your account They will NOT return the stolen money under any circumstances Don t use this fake bank
D

4 months of automated text after Novo

4 months of automated text after Novo allowed 10 fraudulent charges to post on my business account Nearly wiped out my funds I don t know how I managed to keep my business afloat basically without funds for 4 months I like the small business features but keep less than 100 in this account out of fear of this happening again I have since opened an account with a brick-and-mortar institution that values security
C

No security

Used as Corporate online acct worked great until I was debited 600 00 for unauthorized debit took 3 months to clear up customer service sucks stay away unsecured
P

Simply not a reliable organization

No response to tickets opened via web portal General question Links provided in previous tickets don t work Rejects charges by major shipping companies that has gone through previously without any issue Card gets shut off frequently because they don t trust it
R

If I can provide them with a negative

If I can provide them with a negative number I would This bank does not have customer support for the most crucial departments in regards to your account My account has been in review for over 2 months and my funds frozen after requesting it be closed 2 weeks after the basically closed account and have had ZERO followup to my several emails and then the team lead Kevin basically told me not to reach out until they have an update 2 months is way too long and then when you call no indications of anything can be provided Super unprofessional no supervisors ever available Completely a waste of time and DO NOT RECOMMEND AT ALL BEWARE
E

Money Missing and Customer support is atrocious

Customer support is atrocious When an issue involving loss of funds in my account from what seems to have been a backend bug with telechecks and reserves occurred getting a hold of customer service took multiple days including what seemed like tactics to outright avoid providing customer support over the phone I e leave a voicemail and we ll get back to you 3 days later the line getting disconnected putting me on hold for half an hour and then saying they d need to reach back next week no representatives available The in app text support option is buggy you can t see what you type as you type it and the responses I received through that method were slow and canned - essentially ignoring the information I d provided My loss of account funds issue has not made progress over two weeks and remains unresolved If the customer service was half decent I d give 4 stars but it s been so bad that I m looking to switch banks at this point
T

Absolutely Not

I Wish I Could Give Negative StarsABSOLUTELY NO WAY DONT DO IT NO MATTER HOW DESPERATE YOU AREIM TOTALLY CONVINCED THEY ARE SCAMMERS CUSTOMER SERVICE IN ALL HONESTY DOESNT EXIST Please Take My Word No Maam No Maam No Maam

About Novo

Novo is a powerfully simple business banking platform with no hidden fees built for small business owners. Simplify your business finances with Novo.

United States

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Frequently Asked Questions

Novo is a financial technology company that provides modern banking solutions, specifically a business checking account, designed for freelancers, entrepreneurs, and small business owners. It operates as a digital platform aimed at simplifying financial operations and supporting business growth.

Novo primarily targets freelancers, solopreneurs, digital nomads, and small startup teams. Its services are tailored for individuals and businesses that operate digitally, value automation, and seek an alternative to traditional business banking with complex fee structures.

Key features include no monthly fees or minimum balance requirements, seamless integrations with tools like Stripe, Shopify, QuickBooks, and Etsy, free ACH transfers and invoicing tools, and ATM fee reimbursements. These features are designed to consolidate financial tasks and reduce administrative burdens.

Novo does not charge monthly fees or require a minimum balance for its business checking account. The platform emphasizes cost-effectiveness and transparency, with features like free ACH transfers and ATM fee reimbursements to avoid unexpected costs.

Novo offers integrations with popular business tools such as Stripe, Shopify, QuickBooks, and Etsy. These connections allow the account to function as a central financial hub, automating reconciliation and streamlining workflows to save time for users.

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About Novo

An Overview of Novo.co: Modern Banking for Freelancers and Small Businesses

Novo.co is the digital home of Novo, a financial technology company dedicated to providing modern banking solutions tailored specifically for freelancers, entrepreneurs, and small business owners. The website positions Novo as more than just a bank account, presenting it as a powerful financial platform designed to simplify operations, save time, and support business growth. With a clean, intuitive design and a focus on user-centric benefits, the site effectively communicates its value proposition to a growing segment of the modern economy.

Core Offerings and Value Proposition

The central product featured on Novo.co is its business checking account. The website highlights key features that address common pain points for small businesses:

  • No Monthly Fees or Minimum Balances:A primary selling point, emphasizing cost-effectiveness for new and bootstrapped businesses.
  • Seamless Integrations:Novo prominently showcases its connections with popular business tools like Stripe, Shopify, QuickBooks, and Etsy. This positions the account as a central hub for finances, automating reconciliation and saving valuable administrative time.
  • Free ACH Transfers and Invoicing:The platform includes built-in tools to create and send invoices, and to make and receive payments without fees, consolidating multiple financial tasks into one application.
  • ATM Fee Reimbursements:Novo offers reimbursements for fees incurred at any ATM, providing flexibility and access to cash when needed.

User Experience and Website Structure

The website is designed for clarity and conversion. Navigation is straightforward, guiding visitors from an explanation of core features to detailed resource sections and finally to a clear account application call-to-action. High-quality visuals and customer testimonials are used strategically to build trust and illustrate real-world use cases. The content is written in a direct, benefit-oriented tone that resonates with its target audience of busy, tech-savvy business owners looking for efficient solutions.

Educational Resources and Support

Beyond promoting its account, Novo.co serves as an educational resource. It typically features a blog or resource center with articles, guides, and insights on topics relevant to small business management, freelancing, finance, and productivity. This content marketing strategy establishes Novo as a knowledgeable partner in its customers' success, not just a service provider. The site also details customer support access, reinforcing its commitment to user assistance.

Target Audience and Market Position

Novo.co clearly targets the burgeoning community of freelancers, solopreneurs, digital nomads, and small startup teams. The language and features are crafted for those who operate digitally, value automation, and seek an alternative to traditional business banking with its often complex fee structures and physical branch requirements. Novo positions itself within the competitive neobank and fintech space by focusing intensely on the specific integration and workflow needs of its niche, rather than offering a broad suite of consumer products.

In summary, Novo.co functions as the digital storefront for a focused financial technology solution. It successfully articulates how Novo's business checking account and integrated platform remove friction from day-to-day financial management. By combining essential banking features with powerful automations and a commitment to no hidden fees, the website presents a compelling case for modern small businesses seeking a smart, streamlined foundation for their financial operations.