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.I’ve been using Novo since 2022 and I’ve had no problems whatsoever since. The system is user friendly and their customer service agents are always friendly and helpful. I recommend Novo to business professionals.
Very happy with novo except the user experience regarding uploading my excel invoice. It’s not apparent to my customers to see my detailed invoice attached to my novo invoice that just gives price I have to send the novo invoice then send my excel invoice
For the moment is a very interesting platform. Thank you. And client service is good. I hope keeping this account and keep doing business.
Great account to build reserves for my small business!
My thing is, how can a financial institution dealing with people’s business finances not have phone lines to call in for support? They got rid of the phone lines and only gives email support. That doesn’t even make sense. On top of that, they only have 1 single way of verifying your identity via email support using a stupid PandaDoc form. It has to be exact, & no human intervention to fix it. Meaning, if something changes about your business, the form won’t be able to verify your identity, now you’re stuck with no other way to verify your identity and you won’t be able to get any issue resolved via email support using them. I’d recommend not using Novo at all and go to Bluevine, Relay, Mercury, or Lili for your business banking needs instead. I would not advise banking with a financial institution where you can’t get someone on the phone, especially these stupid fintech banks, makes it even worse.
Hi Anthony, I'm sorry to hear you're having trouble accessing your account. I want to clarify that we do offer phone support — Novo's phone line is available Monday through Friday, 9 am–6 pm EST, at 1-844-260-6800. To protect our account holders, we do require an ID verification form to be completed before we can proceed with making any account updates. This is the first step in regaining access to your account. Once your identity is verified, we'll be able to move forward with further assistance. I understand this extra step can feel inconvenient, but it's an important safeguard for your account's security. We look forward to resolving this matter for you as quickly as possible.
day 15 of no access. i had my account hacked july 3rd immediately reached out ( can only do so eith trouble tickets ugh) on july 5th after doing the pandaform to verify my identity and being assured everything was ok and they finally unlocked my account/ within five min it was locked again. and they arent sure why just say that if anything is needed they will reach out. however nobody has. i needed to pay for my dads funeral and have yet to be able to therefore they are not giving me his ashes due to novo holding MY MONEY that i verified id on FROM ME. i filed compalaints with consumer board. but still my dads ashes are being held cuz novo wants to play robber and theives with my money
Novo takes no responsibility for its systems working but they try to sell a lot of useless stuff. For about 3 months, novo would not allow me to access my account. Actually, it was more time than that, but I sorted out a go-around that worked until a few months ago. THEY will say that I didn't receive SMS messages because they didn't have the correct phone number. That is bogus as I used it for some time before they started screwing up. AND every other financial institution has been able to use the number for SMS purposes all this time. AND I updated the number a few times to humor them when I first had the problem, maybe a year ago now. To shut them up and hopefully get access to my money and invoicing, etc, I gave them my Google Voice number which is NOT something I consider SECURE. But it worked, which surprised me because other financial institutions have not allowed the use of a Google Voice number. Then, when I finally got access, I moved the remaining funds I had from sub-accounts to the main account to withdraw it. Next thing I knew, that over $600 had disappeared from my account. For the past couple of weeks I have tried to get support to find out what happened. ZIPPO. Per usual I got the automatic, 'how did we do?' email but no actual response. Today I got a 'we haven't heard from you since we solved your problem so hope everything is OK.' WTF? What about my repeated queries about the $600+ that is missing? Jokers in support. This was just the final straw. When I referred a colleague a couple of years ago, after novo pestered me to make referrals, and they treated her like crap. What a bozo organization. I am preparing consumer complaint documents through my state banking and insurance commission at this point.
Hi Kerry, Thank you for sharing this and we hear you. What you have described over the past several months is not the experience we want for any of our customers and we take full responsibility for the frustration this has caused you. We want you to know that your concerns have not gone unnoticed and we have been actively working on your case. We understand you have questions about the funds that disappeared after transferring from your sub-accounts and we want to make sure that is fully addressed. We have reached out to you directly to schedule a phone call so we can walk through your account together in real time and get to the bottom of this as quickly as possible. We believe that is the fastest way to get you the answers and resolution you deserve. Please look out for our outreach and we look forward to connecting with you soon. We are committed to making this right.
Novo user friendly application makes the banking process a smooth process to navigate.
Wow, the ease of opening the account to the integrated aspects of maintaining my books to the building of business credit has me floored with excitement! I recommend novo to all of my clients!
I wanted to like this bank/ app so badly, but I just can't. The checks take FOREVER to clear, which is a huge issue when we need to pay subcontractors or pay for materials for a job with deposit monies - that is exactly why we collect a customer deposit in the first place. Then there is the lack of notice when a check deposit is unsuccessful (despite the app making you think the check was deposited). It seems I've only had issues with Novo since opening the account. There is hardly any customer service aside from submitting a ticket and sending an email. They only have online help M-F 9a-6p, which depending on your specific business hours may or may not work for you. For me it doesn't work well since I show up at the jobsite at 7am and rarely make it back home before 6pm. Having a service line for customers to call for a quick answer to a question would be more helpful. I decided to open an account because I am moving our existing business to a new state and didn't want the hassle of having to create a new bank account once we establish in our new location. At this point, I just can't wait to close this account and move on entirely. The "reserves" is the only plus to using Novo, that was helpful in keeping money separated for different uses. The application process was mostly easy, unless you have a DBA, then it became yet another headache. I added the DBA and relevant docs as soon as I opened the account and after 2 weeks (and one failed attempt at depositing a check for a job, which then delayed the project start date) there was still no movement on updating the account. Overall, truly a terrible experience. I will continue the search for a better banking solution.
Hi Tim, Thank you for taking the time to share such detailed feedback. We can hear how frustrated you are and we want you to know that your experience matters to us deeply. You raised several valid points and we do not want to brush past any of them. Check clearing times and timely notifications when a deposit is unsuccessful are areas we know are important, especially for a business like yours where deposit timing directly impacts your ability to pay subcontractors and get projects started. We are sorry this created delays for you. We also want to address your concern about customer service availability. We do have a customer service line available for you to speak with a live agent. We will be reaching out to you directly through your open support ticket to make sure we connect with you and better accommodate your schedule. We also hear you on the DBA process and understand how frustrating it is to feel like your account is in limbo while waiting for updates. That is not the experience we want for any of our customers. We genuinely appreciate you highlighting what worked, including the Reserves feature, alongside what did not. Feedback like yours helps us understand where we need to improve and we hope you will give us the chance to make this right.
banking in a modern way
Smooth process setting up the account.
It would be great to have step by step guidance for setting up a new account.
This is the slowest bank I’ve ever had. Money takes so long to get in and out! Not good for all business if you need money fast. The features and connectivity is great but practically it’s very difficult.
Hello Ryan, Thank you for sharing your feedback regarding your transaction processing timelines. Standard processing windows vary depending on the specific type of transfer initiated (such as standard ACH, Same-Day ACH, or wire transfers). To investigate the specific delays you are experiencing, we need to review your account details. However, we are currently unable to locate your account using your reviewer name. Please contact our support team directly through your Novo app dashboard or by emailing [email protected] from the email address associated with your business so we can assist.
Had a terrific customer service experience with Jelian V. Was very helpful and had great communication.
There is no way to connect Zelle to the account. Transferring money from the account isn't easy. I really enjoy the reserves.
Hi there, thanks for taking the time to share your feedback. We’re glad to hear you’ve been enjoying Reserves! We also appreciate your thoughts about Zelle integration, Novo doesn’t currently integrate with Zelle because Zelle is built for more personal, peer-to-peer transfers and not for large business transactions. Zelle also has limitations on how much money you can send and the ability to reverse a payment. For these reasons, we decided not to integrate with Zelle at this time. Novo still offers fast and free alternatives for making a payment. These payment methods allow for flexibility, security, and helpful tracking. If there’s anything specific about your experience that you’d like us to look into, please contact our support team directly through your Novo app dashboard or by emailing [email protected] from the email address associated with your business.
Novo is perfect for new businesses you can track and send invoices it's super easy to navigate it has reports and you can link it to payroll services and accounting software... I love it most importantly it's free!
Very Straight Forward process! Easy site to use and steps were seemless. No issues found at all. Loved this experience!
The signup was seamless. I hope as I continue to use the services, my experience remains the same.
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