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

The platform is great whether on mobile

The platform is great whether on mobile or the website I have plugged it into Quickbooks and that works well The line of credit funding is a nice option that I am thinking of using I have sent checks to people That works well but is pretty slow to process I didn t rate it a 5 star because I wanted to open another account but Novo wouldn t let me
R

So far so good

So far so good A solid and easy banking experience One thing I wish I could have is a separate savings account but they do have something similar Have been using them for a few years now and very happy with no issues
K

I do like Novo bank

I do like Novo bank and I would continue banking with them if their check processing was faster That is the only downfall I deposit checks regularly and they take 2-5 days to clear which I just can t always wait that long They have these nifty little buckets for separating my money so that I set things aside for taxes and other business expenses I like that a lot
Y

Novo is a great starter business bank

Novo is a great starter business bank They have come a long way offering multiple options to meet your needs invoicing system transfers between accounts and they have a new loan option that helps in the time of need for businesses that qualify This was a good decision for us
C

Very easy to use for electronic

Very easy to use for electronic invoicing and accounting Very convenient app A little bit aggressive on the fraud prevention sometimes and a third part is required to deposit cash The reserves feature is nice Overall very good for a small business owner
R

Very much like working with NOVO bank

Very much like working with NOVO bank They have a very easy way to access - conveniently clean website to manage your account And the thing I like the most is how you can just like quickbooks attach each revenue and expense to a specific folder so each is authomaticaly going to the right place at the end of the year and you have a better visibility of all statement The thing NOVO does not have at this time and I would say its important nowadays Zelle This is so appreciated Even though I sometimes prefer not having so I end up spending less LOL Thank you
M

Good Business Solution Needs some work

So far I have been enjoying using Novo as my primary business account The app user interface is excellent as well I deposit my Square payments directly into my account seamlessly The only complaints I have are the slow mobile check processing and the slow updating of my current balance in the app It s taken 5 days for checks to clear when I ve experienced same day or next day availability of funds with other banks Otherwise so far so good
L

They don t charge any fees to keep an

They don t charge any fees to keep an account The new customer service phone number is somewhat helpful At the end of the converation they always tell you to submit your query through the app so it is a little worthless to call them They do respond quickly via the App However they used to reimburse unlimited ATM fees but as of January 2024 they will only reimburse two fees per month whcih is a downer
L

Great interface no Paypal connectivity

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
M

Novo works well for me as a part time contractor

Novo works well for me as a part time independent contractor I was able to easily open a business account online It charges no fees and it integrates smoothly with Quicken It provides useful additional functionality particularly invoicing which eliminates the need to create invoices manually One weak point is customer service It is only available in the mobile app not on the web And it s not real time you leave a message and wait until they get back to you I had a question about an international transaction via SWIFT admittedly an uncommon situation and the rep wasn t able to provide an explanation beyond sending me a dump of cryptic transaction details

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.