Novo is banking built for independent businesses. Get paid, move money, and manage cash flow with a free business checking account and a platform actually designed for small business owners — no branches, no monthly fees, no minimum balances.What does Novo offer? Novo brings together the tools independent businesses need to manage their money from one platform. Open a free business checking account with no monthly fees or minimum balance requirements. Send unlimited invoices and accept payments online. Organize funds for taxes, payroll, and savings with Novo Reserves, and track and manage business expenses with real-time transaction insights. Connect the tools you already use — QuickBooks, Stripe, Shopify, Square, and more — and access your money fast with faster payouts from payment processors. How is Novo different from traditional banks? Novo was built specifically for independent businesses rather than adapted from consumer or corporate banking. Everything runs from one dashboard, so owners spend less time on banking and more time on their business.Is Novo secure? Business security is built in: deposits are FDIC-insured through Novo's partner bank, and accounts include fraud monitoring, secure card controls, and instant card freezing. Who is Novo for? Novo serves over 250,000 small businesses — professional services, e-commerce sellers, contractors, trades, retail, hospitality, and wellness companies — all looking for a modern alternative to traditional business banking. To learn more, visit novo.co.Novo Platform Inc. (“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC. Deposits are insured for up to $250,000 through our partner bank, Middlesex Federal Savings, Member FDIC.
Written by the business, not verified by us.Novo (novo.co) has a 3.9 out of 5 rating on OK.one, based on 155 user reviews collected here. It is listed under Electronics & Technology and its reputation is mixed. 73% of reviews are 4 stars or higher and 18% are 1 star; The business has replied to 87% of negative reviews; Reviews mostly discuss User experience, Customer service. Last updated 2026-09-04.
Reviewers had a great experience with this company. Customers frequently mention that the online platform is exceptionally easy to navigate, featuring a straightforward setup that significantly simplifies daily administrative tasks like invoicing and tracking business finances. Many consumers truly appreciate the intuitive interface and valuable features designed specifically to support small business operations seamlessly. However, some customers also noted frustration with payment processing limitations, particularly concerning unexpected delays in transferring funds, writing checks, and managing mobile deposits. A few reviewers additionally experienced severe challenges reaching human support representatives directly when attempting to resolve account access issues or integration problems.
Auto-generated from all reviews of this business. For reference only.Novo does a fantastic job. I am very happy that I decided to give them a try. In the past, I was always reluctant to use a bank that could be classified as Fintech, but Novo completely outdid my expectations. It has significantly better service and quality than many of the brick and mortar branches of other banks that I had accounts, and I am glad I took the chance with it.
Processing my deposited checks takes too long. Example: I deposited a check last Friday and the funds are not available until end of business day the following Thursday. Thats basically a 1 week hold! As my business builds I can see this delay impracticle. Please rectify so I can continue to be a loyal customer.
Hi Curtiss, Thank you for sharing your feedback. We completely understand that fast access to funds is vital for keeping cash flow moving as your business grows. Mobile check deposits submitted after 3:00 PM EST on a Friday (or over the weekend) enter processing on the following business day (Monday). From there, standard holds take 1–4 business days to clear, which is why a Friday evening deposit might reflect a longer availability. We want to support your business as it grows and ensure you have full clarity on how your payments process. Please feel free to reach out through in-app chat, your web dashboard, or by giving us a call. Our team is happy to review your account details with you and answer any questions about options for future transactions. You can view more information here: https://www.novo.co/help/when-will-my-check-deposit-be-available
I just had a recent experience with having trouble getting my virtual debit card to connect with Apple Wallet. After a few back and forths with support, the card connected to wallet no problem! Also, I absolutely love how deposits are ready to go as soon as they hit Novo. I also love that you can have the app track your funds outside Novo as well. Definitely the best business account I’ve used yet!
UPDATE: After writing this review, I was immediately contacted even before business hours this morning by Novo customer support, Cassondra. She was polite, friendly and professional and immediately resolved the login issue. Due to the speed of response to my complaint here on Trustpilot and resolution, I plan to keep my account at Novo. I have otherwise had good experiences with this bank with quick availability of deposits from VRBO, etc.*** There is ZERO human customer service. I'm LOCKED OUT of my account and their WORTHLESS customer service keeps sending me emails telling me to LOG IN to read the response. SERIOUSLY???? THREE emails and I get the same canned response. This is the Second time this is happening within three months!!! So I have to file ANOTHER complaint with the CFPB, consumer finance protection board. To be able to log in. DO NOT BANK ANYWHERE THERE IS NO HUMAN BEING AVAILABLE TO HELP YOU. YOU WILL REGRET IT!!!
Hi Alexandra, we completely understand how frustrating it is to experience an account lockout, especially when you have a business to run. We want to gently clarify what has occurred behind the scenes and share the details of the hands-on support provided so we can get this resolved together. Our team has been personally engaged with your account throughout this process. Following your initial request in late June, an Escalations Manager reached out directly, spoke with you via an outbound phone call, and updated your account phone number. Since then, our Escalations Team has stayed closely involved, sending multiple direct, manual emails so you could communicate with us directly without needing to log into the portal. If you have not received these communications, a member of our team will be reaching out today to get you back into your account and back to running your business. Regarding your account details, our system records confirm that your phone number was never reset or reverted to old information on our end. After your phone conversation with our manager, a verification code was successfully delivered to your updated line on June 25th, granting full access. When subsequent login attempts were made on July 26th, August 26th, and August 30th, our system dispatched codes to that exact same updated line. However, those codes failed to deliver due to telecommunications carrier-level filtering on short-code SMS messages (error code 30003), which blocked the texts from reaching your device before they ever left the network. We recognize how stressful this has been, and our team remains fully committed to assisting you through this mobile carrier delivery issue. Please reply directly to any of the manual emails sent by our Escalations Team, or let us know the best time to call you, so we can safely restore your access right away.
I have a had a smooth experience. They have been receptive and have responded quite quickly to my concerns. It would be better if Novi can reached via phone during emergencies - such as fraud situations.
I was hoping this bank would have tools that would make things more convenient. I can not deposit payroll checks. When I try it tells me there is a long hold and then 3 days later it say the cheacks aren’t accepted. These aren’t personal checks.
Hi Dheshema, Thank you for sharing your feedback, and we're sorry to hear about the frustration with your mobile deposit. We understand how important it is to have quick, reliable access to your funds, especially with payroll checks. To protect your account, Novo places a 1-4 business day hold on all mobile deposits. The holding period starts on the business day after we process and deposit a check into your account, not when you submit the check for deposit. If we need to change the hold time for your mobile deposit, we will inform you via email. You can read more about why Novo uses check holds to protect your account here. Our support team will be reaching out to you shortly to provide you with more information. We appreciate you bringing this to our attention.
I never get the resolution I need, which makes banking challenging. ATM limits are a problem; daily limits are a problem. I can't even move my money when I need to, and customer support is poor.
Hi Andrea, Thank you for sharing your feedback. We're sorry to hear that your experience with Novo hasn't met your expectations, particularly around account limits and reaching a resolution with our support team. That's not the experience we want for our customers. We'd like the opportunity to look into this further and address your concerns directly. Please reach out to us at [email protected] with your account details so we can take a closer look and work toward getting this resolved for you. We appreciate you taking the time to share this, and we hope to make things right.
So far, our needs are getting meet, we have our cards, linked our revenue payments, set up invoice payments. It's the added things like integration that we’re having trouble with. I tried to speak with someone about it, I felt I wasn’t getting informative feedback on what to do, so I just removed the integration. But thats fine, its not a must.
Mobile deposit takes forever, you charge me to move my money to my other accounts, you don’t offer fast deposits either. I don’t like change, that’s why I’m still here.
Hi Kerri, Thank you for taking the time to share your feedback. We genuinely appreciate your loyalty, and I'm sorry to hear about the frustration you've experienced with deposit holds and transfer speeds. I'd like to clarify how our deposit and transfer timelines work: Check Deposits: For security and account protection, mobile check deposits are subject to standard processing holds, typically taking 1–4 business days (occasionally longer depending on the check). Account Transfers: Standard ACH transfers are completely free and take 1–3 business days. If you ever need faster access, Express Delivery is available for 1.5% per transfer ($0.50 min, $20 max). Additionally, when transfers are initiated from an external bank, we can't track the status until the funds reach us. We completely understand that waiting on your money is frustrating, especially when you need quick access to your funds. We also apologize if our previous communications felt inconsistent; that isn't the experience we want you to have, and we are working with our support team to ensure clear, reliable communication moving forward. We're glad you've stuck with us, and we'd like to keep earning that. If you'd like us to take a closer look at your recent transfers or discuss options that might work better for your workflow, please reach out directly to [email protected].
So far, I’m finding it very user friendly. I’m also discovering important and needed banking features.. things that are helpful for me that I didn’t even realize I could use. Novo has great products!
There should be a running total of my account balance after each transaction. It's bad enough when credit cards do this but this is a bank account! Please add a balance column to our online account view.
Hi Jeffery, Thank you for taking the time to share your feedback with us regarding the addition of a running account balance column for your transactions. We always appreciate hearing directly from our users about features they would like to see, and we have shared your request with our product team for future consideration. To help clear up how your funds are displayed in the app, your dashboard breaks down two distinct balance types: - Total Account Balance: The current amount available to send payments and make purchases. This includes funds held in your Reserves but excludes pending amounts. - Available Balance: The money you have available to spend right now. This excludes funds allocated to a Reserve and funds held for pending transactions, letting you know exactly what can be spent without dipping into other allocations. Thank you for being a valued Novo customer. If you have any further questions or suggestions, please feel free to reach out to us at [email protected].
Novo has been great! I love online banking as it works for my lifestyle. My personal bank is SoFi. However for a business bank i love Novo! My experience has been fantastic from online deposits to money transfers, it has been fantastic! My only issue i have ever noticed that might be a negative, is that sometimes when i recieve reimbursements from atm fees, sometimes the fee might be $3.00 but i will be reimbursed $1.00? It only happens occasionally and most reimbursements for atm fees match the fees.
I needed to know if the transfer was completed and the rep was able not only to confirm but to also provide tracking confirmation number, Great service.
I'm a small independent contractor and I've been blown away by Novo.co. It's simple to use, and the integrated services like invoicing, P&L statements, and built in bookkeeping save me a lot of time with the administrative tasks so I can focus more on serving my clients.
with the time difference from where i am in Hawaii to where you are located messes up my invoices, i need my invoices to be paid due on receipt. but when i send it to my customer it automatically puts it as over due in big red letters, this looks quite agressive and unprofessional, also the email send to the customer is a link to download the invoice, my customer does'nt like opening links and only requires a pdf.
Hi Paul, Thank you for taking the time to share this feedback. These are genuinely great points and we completely understand how frustrating it is when something outside of your control affects how your invoices appear to your customers. The time zone difference between Hawaii and our EST based system is something we are aware of and your experience highlights exactly why this matters for business owners in your situation. We appreciate you bringing this to our attention as this kind of feedback directly helps us identify areas to improve. Regarding the PDF preference for your customers, we hear you and understand that not everyone is comfortable opening links. We want to make sure you have the best experience sending invoices through Novo. A member of our team will be reaching out to you directly from [email protected] to look into both of these concerns and walk through your invoice settings and any options that may be available to help. We appreciate your patience Paul and thank you for being a Novo customer.
**⭐ 1 Star** My experience with Novo has been extremely frustrating. Without any prior notice or explanation, payments and funds being sent to my Novo account suddenly started getting returned. At the same time, I was also unable to debit funds from my account, leaving me without access to my own money. There was no notification, no email, and no indication that there was any issue with my account. Only after I contacted customer support was I informed that my account had been frozen and was under review. Even then, they refused to provide any details about why this happened or how long it would take to resolve. The only response I received was that they could not discuss the specifics of the review and could not provide an estimated timeline. As a business owner, having incoming funds returned and being unable to access your own funds without any warning can severely disrupt cash flow, damage customer relationships, and interfere with daily business operations. If an account review is necessary, customers deserve timely communication, a clear explanation, and regular updates. The lack of transparency, communication, and accountability has made this one of the most disappointing banking experiences I've had. I would strongly caution other business owners to consider how their operations could be affected if they suddenly lose access to their account without notice.
Hi Mohammad, Thank you for taking the time to share your experience and we want you to know that we hear you. We completely understand how stressful it is to have your account activity paused, especially when it directly impacts your business operations, cash flow, and customer relationships. We are not able to share specific details about your account review publicly or otherwise, however we want to assure you that our Accounts Team is actively working on this and we do not take the impact this has had on your business lightly. Please know that this decision was not made without careful consideration and is in accordance with our account policies and terms of service. We appreciate your patience Mohammad and we encourage you to continue communicating with our team through your open support ticket where we will do our best to address any outstanding questions within what we are able to share.
There was a freeze placed on my account with no explanation and it has been days now with no update. I have contractor payments overdue and invoices incoming that are frozen.
Hi Nat, Thank you for taking the time to share your experience and we want you to know that we hear you. We completely understand how stressful it is to have your account activity paused, especially when you have contractor payments due and incoming funds on the way. We are not able to share specific details about your account review publicly, however we want to assure you that our Accounts Team is actively working on this and we do not take the impact this has had on your business lightly. A member of our Escalations Team will be reaching out to you directly through your open support ticket to make sure you have the most up to date information and that your concerns are being addressed with the urgency they deserve. We appreciate your patience and we look forward to getting this resolved for you as quickly as possible.
Easy to use, So far I love this Bank.
Straight forward and easy to use and set up. I had a little struggle with the physical address verification, but eventually got it sorted. it just took an extra few days to complete.
Really easy to set up and connect to my bank accounts. Love the interface, very intuitive and easy to use.
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