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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C

I never had any problem with until

I never had any problem with novo until now In the last two weeks I attempted to deposit 10 000 into my Novo bank account from my Shopify balance Unfortunately the funds did not reflect in my account showing as imported and then immediately withdrawn or rejected on the app Despite the Money In and Money Out sections indicating over 30 000 in transactions this amount never appeared in my balance After reaching out to Shopify it became evident that the issue lies with Novo s banking system This situation is disconcerting as a substantial sum of my money seems to be missing These funds are vital for meeting essential financial obligations including employee salaries supplier payments and inventory expenses Whether it s a mistake on my end or a system error the urgency of resolving this matter is crucial I look forward to a prompt resolution and appreciate your attention to this issue
T

You Have the Technology to Do Better

The experience included my card getting declined only to find out that it was a system error on your side The issue is that you have the technology to inform all of your customers when you have a service to sell but couldn t have given us a heads up that there might be an issue for a time
E

Good company bad customer service

There were a couple things that I didn t like about Novo was there refund processing and their customer service isn t that great Some areas that they can improve in would be handling Customer inquiries
C

Nice features but SLOW to move cash

I love SO many things about this company the ability to create cash envelopes the user-friendly experience on the app and on the website BUT the process of getting a check cleared is so SLOOOOOW it s causing me to rethink the account Often if I deposit a mobile check it takes an entire week to clear no matter what the amount Compared my previous Chase account which often gave me immediate access to funds it s hard to justify the slow speed when I need to move my money quickly Likewise when I transfer cash out of the account to my personal account it often takes up to five days It s nice that the account doesn t charge a fee but I m starting to think that a monthly checking account fee would be worth it for more expedient access to my money
K

I like Novo overall my only request is

I like Novo overall my only request is that when there s something room or a maintenance situation with the website pls let you people know with a special email I was like 2 or 3 days I don t remember without access to my account and I was really worry I put a random date bc I don t remember when was it
E

Very disappointed

Very disappointed that you give the callers such a hard time that if they don t have the loan account number WHICH IS VERY HARD TO FIDE you refuse to provide phone services though you explicitly asked me to call you by limiting my access to the line of credit but then refuse to help Are you serous
M

Overall good for a starter business

Overall good for a starter business bank They offer invoice option but is not truly an invoice more so you share your acct number and routing For the clients to send you money So I continue to have to use external options for payment If they could get the invoice fixed I would give it a better rating Business name Intentional VA
K

You get what you pay for

Novo is an okay business account for someone small who doesn t want to pay fees Beware though you get what you pay for Lots of amenities are unavailable customer service is slow and not extremely knowledgable or helpful If you can afford it look elsewhere
S

Unreliable feeds

Like that it s free but at least 4-5 times in the year that I ve used Novo their Xero feed integration has been faulty Nearly every month in recent months has at least 3-5 transactions missing and support is very slow and unsuccessful I will be transitioning away from Novo soon because I don t have the time to be manually checking and entering in transactions on repeat
D

Customer service

Slow processing of checks and mailing them No wire transfer available Customer service is great Mobile app is easy to use

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.