Novo Reviews 4,374

I thought I was applying for a loan. Felt like this was a bait and switch. Don't really need another business account. Very deceptive and misleading advertising.

Worst platform to do banking with. They will hold your money and put the account in review without telling you anything and hiding all the information. no timelines, no information. Your business can practically go bankrupt for all they care. There are a bunch of other banks and platforms out here. ignore this one at any cost.

NOVO has made business banking very easy.

Got a great reply very quickly!

Fast, friendly, simple

I used one of the other merchants and banks but no other bank even comes close. The integration with apps, the Novo App and the card services are awesome. I love Novo they are an integral part of my business.

Great customer experience i have received so far . No hassle . Transparent . App is also great

I've been with NOVO since I opened my business in January of 2021, and I have had zero issues. I use my own accounting software and do my invoicing through that, but I love that NOVO offers its own invoicing at no charge. I am still weighing my options and may switch to NOVO’s invoicing in the future. My business is services only, so my experience may differ from others.

Their website is fairly easy to navigate, clean-looking, and easy to use, without distracting photos and personal ads. Some of the features are better than my personal checking account with a corporate bank. For example, my favorite feature is being able to create “Reserve accounts” within my checking account. It’s pretty much the option to create your own “sub-accounts” within your checking account, labelling them, i.e., taxes, mortgage, vacation, etc, and choosing an amount (or percentage) to come out of every deposit. That’s it! Every deposit thereafter will be split neatly into all the categories. You can easily release and transfer funds within the accounts, and the balances are easy to read and keep track of. This was a brilliant idea on their end!

As the owner of a service business, I find it’s important to make notes and label all of my deposits. With NOVO, it’s easy to just make a note on the deposit and label it. This makes my accounting faster at the end of the year. I know other banks also offer this feature, but as mentioned above, NOVO’s website is cleaner-looking, making it easier to quickly navigate all the necessary steps.

NOVO’s website also allows you to connect and integrate many app accounts, such as Stripe, SquarePay, PayPal, Amazon, etc. This is a great way to keep track of “monetary traffic” for your business. I have my pay apps connected, and it works smoothly.

I have not had the opportunity to speak with anyone from their customer service department yet, as I haven’t needed to, so I can’t rate that, but the fact that I haven’t needed to tells me NOVO is doing a great job handling my business accounts.

Good job Novo. Great communication, follow up and showing the available features in my new account.

Just terrible, dont go with this company. Customer service is never any help.

At first, I genuinely loved this platform and even recommended it to friends and family. However, as a new small business preparing for our grand opening, every dollar matters. Despite repeated requests explaining that I urgently needed access to my own funds to purchase essential client materials, this company held my deposits for nearly a full week with no valid explanation.

Customer service was disappointingly robotic—repeating scripted phrases like “I understand this is frustrating” without offering any real assistance, solutions, or accountability. There was no urgency, no support, and no follow-through.

For new small business owners who depend on timely access to their funds, I strongly advise choosing another provider. This company is not small-business-friendly, and their policies can severely disrupt your operations at the most critical stages.

Attempted to set up a business account for our nonprofit organization. Successfully created login credentials but never received any follow-up communication, confirmation emails, or next steps from NOVO.
After several weeks of silence, attempted to log in to complete the account setup and was met with "incorrect password" errors. No password reset options worked, no customer support response, nothing.
For an organization that needs reliable banking infrastructure to process donations and manage operations, this level of communication failure is completely unacceptable. Business banking requires responsiveness and reliability - NOVO provided neither.
Switched to Relay and had fully functional business checking and savings accounts operational within 30 minutes, with actual customer support and clear processes.
If you're considering NOVO for nonprofit or small business banking, I'd strongly recommend looking elsewhere. When your financial operations are on the line, you need a platform that actually responds to customers.

Terrible bank that can't read numbers. Told contractor of mine that my 2 was a 5 in the date and "25" for 2025 is somehow "55" when everyone but them can read. They wasted everyone's time making me have to put a stop payment on a clearly written check, because their people can't even read. Highly recommend you don't go with these people. Never had any problems like this in my entire life until paying a member of this bank.

They closed my account with zero warning. Apparently it went too long without funds despite me regularly receiving payments into it for easily 6 months. They claim they sent me a warning email about this, but I never received it.

Don't waste your time. Choose a real bank.

I think Novo is run by teenagers.
Incompetent, uncaring, deceitful - nothing like a professional banking experience.

I’m extremely disappointed with this company and I do not recommend anyone waste their time trying to create an account with them.
I am a small business owner and was in need of getting help to expand my business so I turned to novo.
I was in the processing of completing my application but I never finished as I was still looking for additional requested documents. I returned to the page the next day to complete my application to find out they had denied me even though I NEVER submitted my application. I reached out to novo to explain that and despite even that, I was still dismissed by Maria. Never once cared that I never completed or submitted my application. You denied me without even having my full documents or anything. Please save yourselves and go to a fair company.

No customer service (it's a call center that puts you on hold). Had fraudulent activity and when I called they could not help me, the advice was "let the transaction go through and call us after". The reviewed my fraud case and the advice was to call the merchant and work it out. Best advice ever, call the scammer and give them more information. I am closing my account.

Novo Bank has been a huge disappointment. There’s no contact phone number listed on their card, which makes it nearly impossible to get help when you need it. We run a business and have both a bank account and a credit card with Novo, and every time we travel for business, the card gets declined—even when there’s plenty of money in both the bank account and on the credit card. It’s embarrassing and unprofessional.

Trying to resolve the issue is just as frustrating. At one point, they told my husband the card was declined because it wasn’t activated, even though he had already activated it.

If you’re looking for a bank for your small business, look elsewhere. Novo is not worth the trouble. Having your card declined repeatedly makes your company look bad, and in the end, you’ll end up using personal cards and accounts just to cover expenses. Save yourself the stress and choose another bank.

I must start with saying "OMG!" They make using their services almost impossible. When I first got their Debit card as a member, it would continually get declined, which is very embarrassing when dealing with my vendors, just to pull out my personal card to pay the vendors. When I got the novo (yes, its lower case on purpose because that's how much respect I have for them) credit card, I figured since it is a Master Card I should not have that issue. It has declined every time I have used it with vendors, suppliers, and business meals, which I end up paying with my personal card. What the hell do I need novo for if I have to pay for everything with my personal card? I will be finding another bank today to open a new Business account and transfer what is in my novo account. This is BAD business, and you should not use them. I did some research, which I should have done before signing up with them, and they are not even a bank. I would advise you all to research this for yourself. You will see that they are legally not even a bank. That would never be a problem if they did right by their customers. And if you do have an account, please leave and go somewhere else before they cause you more grief, because I am very confident that they have already. I will be placing this review everywhere I can because people need to know not to do business with them. Save yourself the drama and just spend a bit more time looking for a "Bank" that can actually help you.

can only deposit $1250 per day. can take days for the deposit to show up. payments are denied whenh money is available. we hate this bank