About Novo
Data updated- Website
- novo.co
- Category
- Electronics & Technology
- Location
- United States
- Status
- Unclaimed
- Last 12 months
- 155 reviews
- Replies to negative
- 87% (33/38)
Do you own Novo? Claim this profile for free and start replying to reviews.
About this business
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.Is Novo legit?
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.
What reviewers say
AI generatedReviewers 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.What people say
Unable to Login/ No Access to Accounts
I had login issues with both of my business accounts due to my email address changes and I reached out to support. They responded promptly and my issues were resolved in the same day. Thanks to Rolly R., my access was restored immediately.
I'm trying to deposit a check through…
I'm trying to deposit a check through the app. Everything looks fine, then the transaction disappears from pending transactions. No notification to the user. How is a customer suppose to know if there's a problem if there's no notification/reason for the check being rejected? Just gone from pending transactions. I contacted support. And, it was two words missing from the endorsement. So, I'm trying again for the third time. I left my other bank because they charge too much, but I'm ready to go back if this is the hassle with mobile deposit and no information to the end-user.
Reply from Novo2026-06-10
Hi there, We are so sorry for the frustration this has caused. We know how important it is to have quick, reliable access to your funds, and it’s incredibly disappointing when a mobile deposit doesn’t go through as expected. Because your security and privacy are our top priorities, we can't look into your specific account details on a public forum. Please reach out to us directly at [email protected] using the email address associated with your account. Once you send that over, our team will immediately look into exactly why the deposit was rejected and help you get it sorted out. Thank you for your patience, and we look forward to making this right for you.
Closed my account without any warning
I banked with them for 4 years and then yesterday they closed my account without any warning, claiming the account was inactive for 130 days, despite receiving multiple transactions in that timeframe. I had wire transfers from international clients expected this week that are getting bounced back and with rent and bills due they put me in a horrible situation. They refuse to reinstate my account with no phone number to call. They said there is no minimum balance required yet if I only kept $0.01 in the account this wouldn’t have happened??? And they claimed they sent me an email notice to warn me before account closure which isn’t true! I wasn’t even notified my account was closed until I tried to login and it said my password was incorrect, and after resetting it they said my account was permanently closed! I can’t believe this is how they treat loyal customers, especially small businesses. What a joke. Never in my life have I had a “bank” treat me like this.
Reply from Novo2026-05-29
Hi Alexis, Having wire transfers returned right when rent and bills are due is an incredibly stressful position to be in. Your frustration is completely valid, and I hear you loud and clear. I want to provide a bit of clarity on why this happened, though I know it doesn't make the timing any less painful. While it is absolutely true that Novo does not charge any minimum balance fees, accounts can be closed due to extended inactivity. Specifically, this occurs if an account maintains a daily balance of exactly $0.00 for over 130 consecutive days. Even though you had a large wire come through in March, because those funds were transferred out on that exact same day, the account still registered as holding a zero balance overnight during that window. That being said, it is completely understandable that you did not feel properly informed before this took effect, and we apologize. We always want our users to feel fully aware of their account status. We appreciate you taking the time to share this experience, and we are sharing your feedback directly with our team to help evaluate how we communicate these timelines going forward.
Though I am a new user I’ve been…
Though I am a new user I have been enjoying the “reserves” feature and its user interface. Another element I love is the privacy and security. When you’re inactive for even five minutes on the web and app you are automatically logged out. You also have to approve transactions with codes. I like the extra measures being taken to ensure privacy and security. I also think the application process was quite seamless. I
Easy process
Easy process. Several years of great service with Novo.
Hassle free convenience and quick…
Hassle free convenience and quick service.
A colleague recommended Novo
A colleague recommended Novo, and it is working out beautifully. I am satisfied with their platform.
Poor service & treatment of new customers
I think that it is very inconvenient & unprofessional for a bank to approve your application, open an account, accept your deposit, and send you a debit card only to turn around and say that it can not support your business structure and close your account???!!! I am extremely disappointed. Especially since I already changed all information that was going to be used to accept payments from my clients. I expected better.
Reply from Novo2026-05-26
Hi Kena, Thank you for reaching out, and I am genuinely sorry for the frustration and disruption this situation has caused you. Opening a new account takes time and effort, and having it closed so suddenly—especially without a detailed explanation—is understandably incredibly stressful. I want to be completely transparent with you about why we sometimes cannot provide specifics. Like all financial institutions, we are bound by strict regulatory and compliance guidelines. Because of these legal and security constraints, our support teams are strictly blocked from seeing or sharing the exact internal criteria used in the decision. I know it feels incredibly unfair to be left in the dark when you are just trying to run your business. Wishing you and your business the very best moving forward.
Love my novo bank
Love my novo bank. Just waiting for zelle integration.
Amazing easy to book no problems
Perfect business card for small…
Perfect business card for small businesses.
Onboarding needs work…
Opening a new small business account should not take 5 days! Entire onboarding experience needs improvement. My sense is that you do not truly understand the needs of small business owners.
Best Bank ever
Closure of a Novo Online Bank Account
I have contacted Novo Bank numerous times requesting the closure of my account, yet the account remains open and unresolved. Despite repeated attempts through the online portal, I have been unable to complete this process because the system states that a customer service representative must handle the account closure. However, Novo does not provide a direct phone line to speak with a representative, making it extremely difficult to resolve this matter. In addition, there is still more than $200 remaining in the account that has not been transferred to the external account already on file. This issue has persisted even though the business associated with the account has been closed. This experience has been incredibly frustrating and unacceptable. I have formally requested the immediate closure of this account and the prompt transfer of the remaining funds numerous times. As of this post the matter has still not been resolved.
I Couldn’t be more happy with a business account!
I can’t speak for others but since I opened my business account with Novo, I have been EXTREMELY HAPPY! I couldn’t ask for more from a business account. Their structure for Reserves is absolutely perfect for any business. They don’t release the funds unless you explicitly okay them. That is such a valuable part of banking with Novo. Other banks don’t have that feature. I’ve had zero problems doing anything, from connecting other apps to transferring and depositing. My biggest compliment has to go to me having two different unauthorized charges on my statement and they went to work and within 1 day I was refunded in full. That is something even big banks don’t ever do. I couldn’t be more happy!
Very frustrating bank
Very frustrating bank. They are very happy to take your money, but be warned that withdrawing it not very easy. One would think you can have free access and control over the funds you deposited, but my firsthand experience shows this is not the case with Novo. Not sure if they just don’t have my money, or their system has glitches, but either way, the customer service is non existent—really, there is no number to call. Email responses take over a day. How do you run a company like this? Is it just me or do fintech companies have their priorities backwards? Real customer here with a real issue and they can’t even get it resolved. I asked for a simple withdrawal and they told me they had to look into it. For days and days with no resolution or explanation. Seriously? Deposit here at your own risk.
Reply from Novo2026-05-21
Dear Doug, Thank you for your feedback, we sincerely apologize for the frustration and delay you've experienced. We understand how critical it is to have timely access to your funds. Security is a top priority at Novo, but we never want that to come at the expense of clear communication. To keep your account secure, we have strict safety protocols in place, which can occasionally cause unexpected delays as we verify transaction details. However, we know communication is key during these times. We do have a dedicated support team available to help you resolve this immediately. To reach us you can always email [email protected], or message us via the in-app support tab so we can look into your specific ticket and get this sorted out for you.
Never received my refund it's crazy no…
Never received my refund it's crazy no phone number to call novo
Reply from Novo2026-05-19
Dear Travis, Thank you for reaching out to us about the unauthorized activity you noticed on your account. I completely understand how stressful and alarming it is to see unexpected transaction attempts, and I want to assure you that we take the security of your financial information very seriously. Our team immediately investigated the two transaction attempts you flagged. I am relieved to inform you that both transactions were automatically rejected and blocked due to insufficient funds in the account. Because our system stopped these transactions from going through, no money ever left your account. As a result, there is no balance to return and no refund to be processed on our end. I completely understand how frustrating it can be when you want to jump on a quick call and can't get through. I’m truly sorry for any inconvenience or hassle this has caused you.
Tina Franklin is amazing got me the…
Tina Franklin is amazing got me the best quote super fast an easy an very nice person. I recommend anybody needing insurance to call her for a quote at the pasco office
Excellent experience
Everything was smooth and fairly easy to complete. Support response time was excellent. Account completed and reviewed in short time frame.
Bluevine
Relay Financial
Mercury
Found
Grasshopper Bank
Lili
Happen Bank
Slash