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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D

No contact phone numbers

No contact phone numbersNo check optionsJust a rebranded product from a small bank Will be switching to a legitimate business bank soon
J

Novo is Great for a few months then leave

If you re a new business looking for your first banking accounts novo is not a bad choice but their transparencies are not 100 visible Once the honeymoon phase is over first three months ish Novo demonstrated poor business ethics and often seemed illegal On several occasions they blamed network issues for delayed transactions to be cleared I ve had over 1000 instant transfers from PayPal or Venmo never has an instant transfer needed to take 8 days Pending transactions with companies like Uber have always been retuned within a day or at most two Not fourteen novo s escuses never made sense their support are bots or just bad copy and pasters You also have to basically do their work Their dashboard is hard to follow as they lay things out with by vendor not transaction Was it a good foot in the door Yes But there s notEven a phone number to call You have to go around corners and it s just a lot of Bs
D

Not great B2B communication

Not great B2B communication restrictive internal network slow to respond Messaging is not possible on the website just the app which must be connected to a phone number Really bad for doing business with multiple members on an LLC Aside from that the payments do go through and their invoice tool is alright Could be better when paying invoices instead of doing separate payments could be automatic based on past payment invoice history
R

Whenever I deposit the check

Whenever I deposit the check it takes several days that the money get available and that hearts my business I have account with different bank when I deposit check it takes less than 24 hours the money is available in my account
E

I m likely going to change banks soon

I m likely going to change banks soon I haven t been happy with Novo Twice they changed my card numbers in a year for no reason This meant the annoyance of going through every vendor bill and updating payment details A lot of time Also if you want to access customer service they require you to download their app No phone number exists That s insane
S

I mistakenly gave this company a try

I decided to give this company a try Used it for a book payment that was conducive to running my business Right before President s day a deposit was made It took a full week for the deposit to show up when I paid for instant transfer The funds were posted on their platform but the balance didn t reflect the funds Needless to say I got the run around from customer service with no real human answer just scripted answers from humans I ve decided not to use this service any longer It caused a huge medd and there was no real explanation or resolution I will no longer use this service I wouldn t let a customer have this type of experience in my business and didn t appreciate the way things were handled on Novo s end
M

I am in the process of leaving NOVO

I am in the process of leaving NOVO I am tired of having the fraud ninja freeze my card every time I attempt to visit more than 1 store I understand that fraud is rampant right now however when I am trying to pay with a mile long line behind me and my debit card gets flagged it is really upsetting Also there hold times for check deposits is unreasonable I have been depositing a check every month same amount for the last year from a client and every time the hold is 5 days
S

Not safe for fraudulent charges

Novo is great for not having fees However if you need immediate cash your limited to daily limits on withdrawals and no local banks to assist you I ve been very disappointed with Novo when it comes to the challenges on fraud My card was incorrectly charged by an unknown merchant total was 450 It took Novo a year to followup and say that they use a 3rd party to rescearch this fraud Ending result was no credit for the fraudulent charge
T

The payee I have sent money monthly for

The payee I have sent money monthly for years suddenly would not set up for payment They were grayed out Repeated attempts to update the payee failed Had to uninstall and reinstall the same info Spent 10x how long this should take Support doesn t exist
M

Beware of check deposits

I love Novo s app But I had a check where the persons signature touched the routing number on the bottom of the check and Novo would not deposit the check Their customer service person told me I needed to go back and get a new check So I had to go open a local account anyway and at my local credit union they deposited the check no problem Novo is cool until you have an issue like this and they are un willing to help And there s no actual location to go speak with someone who might actually be reasonable

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.