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Novo Review

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Reviews 1,159

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Michael Graw
Michael Graw
May. 20, 20224 min read

Novo Boost summary

Novo offers checking accounts for small businesses, freelancers, and entrepreneurs. There are no monthly account fees or balance requirements, no ATM fees, and no fees for incoming wires. Novo integrates with a variety of business software tools. You can also make international payments using an integration with Transferwise, or pay for everyday purchases with the Novo debit card.

Pros

  • No monthly account fees
  • Quickbooks and Xero integrations
  • International payments with Transferwise

Cons

  • 0% interest on funds
  • Limited support hours
Novo Boostat a glance
4.2

Editorial score

Fees?

No fees at all

5.0

Security

FDIC insured and SSL/AES encrypted account

4.0

Customer service

Limited customer service

2.0

Online experience

Excellent user friendly site with transparency of rates and full online banking capabilities

5.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits

5.0

Advantages Over Traditional Banks

One of the biggest advantages Novo offers is that you don’t need to meet specific balance requirements to avoid paying a monthly account fee. In fact, after you meet the $50 minimum deposit required to open an account, there’s no minimum balance at all with Novo. In addition, Novo does away with traditional wire transfer fees and ATM fees. Novo also integrates with Transferwise to make paying international employees or vendors simple.

Cutting-Edge Banking Services

Novo has modern banking features. To start, you can manage your entire account from the mobile app, which enables seamless payments and check scanning. The app also gives you access to customer support via live chat at any time. Novo also integrates with the software that most businesses use, including Stripe, Quickbooks, Shopify, Slack, and Xero. The Novo debit card offers zero foreign transaction fees, compatibility with Google Pay and Apple Pay, and mobile alerts.

Traditional Banking Services

Novo is a fintech, not a bank. Banking services provided by Middlesex Federal Savings F.A.; Member FDIC. Novo doesn’t offer many traditional banking services and doesn’t have physical branches. That said, you can use any bank’s ATMs anywhere in the world and Novo will refund the ATM fees.

Interest Rates and Fees

You can open a Novo business checking account with a $50 minimum deposit. Once your account is open, there is no minimum balance you need to maintain and no monthly account fee. The only fee Novo charges is a $27 fee if you overdraw your account. All other transactions, including wire transfers and check payments, are free. 

Novo’s checking account does not offer interest.


Novo Checking Account
Account Fee
$0
Overdraft Fee
$27
ATM Fee
$0


Customer Service

Novo offers customer service by email or live chat from 9:00 AM to 6:00 PM ET, Monday to Friday. If you’re a current customer, you can also call the number on the back of your debit card. Novo’s website has a helpful FAQs section where you can find more information about the application process and what to do if you have issues with your account.

Mobile App

The Novo mobile app for iOS and Android is designed to be the primary access point for your checking account. You can monitor your balance, make payments to employees and vendors, and scan checks for deposit. You can also link your Novo debit card to use Apple Pay or Google Pay. If you need help, you can reach customer support by live chat from within the app.

Novo’s integrations with Transferwise, Slack, Stripe, Quickbooks, Xero, and Shopify also work on the mobile apps for these platforms.

Security

Novo requires that you verify your identity when first opening an account, and uses SSL encryption during the online application process to protect your personal information. Once your account is open, you can set up SMS alerts to be notified anytime a transaction is made using your Novo debit card. One downside to Novo’s security is that the company does not support two-factor authentication at this time. Novo is also backed by the FDIC, which insures your account for up to $250,000 if Novo were to go out of business.

Summary

Novo offers checking accounts built for the modern small business. The account is free to open and eliminates many of the fees charged by traditional banks. In fact, the only fee at Novo is an overdraft charge. Another nice thing about Novo is that you can integrate your checking account with a variety of business software platforms to more easily manage your entire business. Novo’s mobile app supports SMS alerts for transactions, Apple Pay, Google Pay, mobile check deposits, and mobile payments.

Methodology

This review was created using information from Novo’s website and a chat with Novo’s customer support.

Michael Graw
Written byMichael Graw

Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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  • author
    dastin kartoum
    Jul 19, 2022
    I started banking with NOVO in…

    I started banking with NOVO in September 2021. The adventure has been wonderful. The updates and upgrades are always relevant and valuable. There are several native integrations that makes NOVO a technical powerhouse. If you are a start-up company looking for a place to bank, NOVO is a great choice. You will be amazed at the level of support you receive throughout your journey. Since my original review on July 10th, Bank Novo has added bookkeeping functionalities and tax filing services.

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  • author
    Padraig-Eoin Dalrymple
    2 days ago
    They violate the ADA

    They violate the ADA. They won't pick up the phones. They won't respond to emails. They are not a bank. They are a Tech company. If you are a business, beware. Your business will suffer from their incompetence.

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  • author
    John
    2 days ago
    Terrible bank

    Terrible bank. I accidentally sent a larger transfer back to my old Azlo account. I tried to contact someone, no luck, no phone numbers, no real people on chat, etc. I used the support ticket option in the app to try and receive help, and got a canned response 2 days later from what appears to be a "bot" with no real info in it. They basically told me "sorry". F&ck these people. I am going back to Chase.

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  • author
    IndieONE Global
    3 days ago
    BEWARE OF THIS BANK. Getting Help To Resolve Problems Is Next To Impossible

    This bank continues to evade responsibility to resolve issues. They've lost a wire transfer that was sent to us and refuse to trace it when we've sent the information to them via email multiple times. They closed our account before we could get our final statement and it's taking a week to get a simple copy. The rep communicated our previous issue for one day only because we posted a complaint here. Now 4 days later they're not responding again. But they will when our attorneys file a lawsuit. They need to understand they have a LEGAL obligation to provide support and assistance on ALL accounts associated with their so called bank. Otherwise the US Government will shut them down.

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  • author
    Chad ShaferPT
    Aug 06, 2022
    I wanted to love it but novo has…

    I wanted to love it but novo has terrible customer service and if you want to deposit checks digitally, it won't happen. As another reviewer pointed out, they reject your checks and you have to embarrass yourself by asking your client for a new check.... Novo gives no reason behind what is wrong or why the check is rejected..... run far away if you need a bank in your corner, novo is terrible!!

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  • author
    CLAUDIA
    Aug 05, 2022
    Horrible company

    Horrible company, business was declined for an account and they offer NO reason at all, we contacted the support and they sent back a copy paste response we ask them to be specific and they ignore all future emails.

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  • author
    Property Management
    Aug 04, 2022
    I have been with novo for almost a…

    I have been with novo for almost a year. With no notice. Novo froze and canceled the bank account with no notice and no explanation. They refuse to release my funds. When your a small business you have bills to pay. This is bad business. If you have a bank account with novo. I would not keep alot of money in the account. They may close the account with no notice and tie up your money for ever and you may never get it back. I would not bank with this company. It could be a scam.

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  • author
    IndieONE Global
    Aug 04, 2022
    The absolutely worse banking experience…

    The absolutely worse banking experience ever. The manager doesn't respond to emails or circumstances and hides behind her team. They don't have a contact number or chat to resolve problems. You can only respond via their horrible mobile app. Very unprofessional organization. After closing our account they sent the balance of our account to an account that does not belong to us, without our knowledge or permission. So our attorney will be filing a lawsuit for sure. This is the worst banking experience I've ever encountered. You've been warned.

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  • author
    Jason Smith
    Aug 03, 2022
    NOVO looks nice, but stay away!

    Novo looks nice, but they have a very poor customer service and all of my correspondence were basically generic and diverting responses from them. I asked to speak with a supervisor 4 times and they would just divert to a FAQ page. I would highly advise any small business owner to stay away, you don’t need to waste your time.

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  • author
    Chris
    Jul 28, 2022
    I really wanted to go with a smaller…

    I really wanted to go with a smaller bank but they couldn't verify my address with insurance bills or toll bills. Does anyone else know what would work?

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  • author
    Martin
    Jul 23, 2022
    No protection for your Banking

    Over time using Novo Platform. With security issues arriving at the Business account. Contacting support for advice and help to protect against unauthorized behavior. Was noted that the customer service ignored the second petition for protection and/or stop. Conclusion: The situation was over Novo's expectations related to Banking security and safety protocols for their clients. Alone on my end. Thanks

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  • author
    Matt Skiba
    Jul 23, 2022
    Customer service is pathetic

    Customer service is pathetic. Bank will make an arbitrary decision that affects clients’ finances and causes frustration and headache, and only way to attempt to resolve it is a slow, maddeningly frustrating chat conversation half the time with a bot. Mobile deposit is your only option. Forget cashing a check. 3 months for me to get their pos debit card. No check book.Terrible. Awful. Just use a brick and mortar bank.

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  • author
    Jeff Provinse
    Jul 21, 2022
    Ambiguous mobile deposit policy = rejected mobile deposits

    Novo rejected a mobile deposit after I endorsed it to Novo per their instructions. The check was from a company that Novo had previously approved for a mobile deposit, and the amount was far less this time. The support rep told me I would have to ask the company for another check. I did and they sent me a second check. Again, rejected by Novo. These checks are payments for work I did for the company. I am so embarrassed I have to go back to them again and tell them their check was rejected. This is a publicly traded company worth billions, and here I am asking them for a third payment. Novo won't even tell me why the checks are being rejected. And they do not have a support phone number, so their responses through chat are not helpful at all. Closing my account and will leave negative reviews all over the web. Do not use this "bank" if you are a small business owner because they will burn you.

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  • author
    Adam
    Jul 18, 2022
    Unacceptably terrible customer service

    Unacceptably terrible customer service. They are not even technically a "bank". They call themselves a bank, but when you press them they say they are a technology platform to interface with another bank. Their technology could not accept a check, because it was a slightly different size than a normal check. No matter what I did, there was no way to resolve the issue. I would've mailed to to them, but they aren't a bank, so they wouldn't accept it. I would've tried to manually verify the check, but they aren't a bank, and their check verification is handled by another company. Truly, you should avoid this company. There are plenty of other legitimate banks, who are actual banks, out there.

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  • author
    Michael G
    Jul 17, 2022
    Once again

    Once again. Gave Novo one more chance. And again, no funds available, after depositing my second big check with them. I’m not impressed at all. I will be closing my account, once I get my funds out. And find another bank.

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  • author
    Vanyali
    Jul 15, 2022
    Unreliable bank with ZERO customer service

    I opened an account to do one thing: cash paychecks from my small business. I have one client, so every check is identical except for small variations in the amount (generally $1500-2500). This month Novo refuses to let me deposit my check, won’t tell me why, the online customer service ignores me and they have NO TELEPHONE SUPPORT. That makes this place useless to me. I don’t know who wants ti use a bank that will randomly refuse to deposit your pay check for no reason. I am done with this place.

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  • author
    Chrissostomos Batistatos
    Jul 15, 2022
    Novo bank has severely limited…

    Novo bank has severely limited features, and as a result it will not support your banking needs. They may promise a modern experience, but what they deliver is a half-baked product with significant gaps that they will not address for years to come.

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  • author
    Michael G
    Jul 14, 2022
    I agree with the other reviews

    I agree with the other reviews. Even though I’m a new customer, I should have some availability to my funds , until check clears. Actually, if banks would do there jobs, all they need to do is contact the bank, the check is issued from and confirm. Then we can have access to our full funds

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  • author
    Kristy Garland
    Jul 14, 2022
    Absolutely Horrible Bank That Holds Funds For No Reason

    Absolutely horrible bank! Save your sanity and bank elsewhere. We opened a business account, and have a card for two people. Every time we try to use the card it’s declined. We have to submit a support ticket just for agents to send us in circles. They say we are over our daily transaction limit- not true…. They tell us we are over our daily spending limit —- again not true! They are now holding almost $1k from us, and all transactions are being declined. We also are not able to take out money from the bank. Yet again, I’m awaiting a response from my recent support ticket. Use a real bank, because Novo will do nothing but give you a headache and illegally hold onto your money for no reason.

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  • author
    nathalie saphier
    Jul 13, 2022
    A whole new level of HELL.

    My experience w Novo has been a migraine headache of EPIC proportions and I'll be getting my funds out of this bank ASAP. Back in June I made a deposit from another bank to my Novo account for my car payment. I sent more than enough to cover the payment, however Novo took a week to post the funds to the account unbeknownst to me, and the payment was rejected. Next thing you know, 2 wks later the bank has repo'ed my car, but I can't call Novo because they don't have a regular CS line and everything is handled via messages on their app...not even on their website. If you're lucky enough to get a quick response (because you probably won't...usually have to wait a couple of hours or more), you're met with a CS rep who copies a rote response from a script and subsequently closes your ticket. Meanwhile, I go ahead and make an Express ACH payment through the Novo website to the bank my car is financed by, and pay the extra $20 for the service so the funds are expedited. Here we are, 2 days later and the auto financing still has no trace of any payment from me, pending or otherwise, while my car languishes at an impound somewhere, racking up daily fees. While this is going on, I am obligated to rent a car to get to work and doctors appts. (I am a cancer patient), so this is really beginning to add up, all while I remain waiting for someone, ANYONE at Novo to get back to me and tell me where the hell my money is. As soon as this matter is put to rest I am getting my money out of Novo, shutting my account down and going to another bank, effective immediately.

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  • author
    Jason
    Jul 12, 2022
    So far its been a pretty bad experience

    So far its been a pretty bad experience. I have 4 companies and opened up an account for each. After adding funds to the accounts I noticed that one was named incorrectly. Turns out their system decided to not use the state LLC formation docs we uploaded and to just rename it to another one of my LLC's which I didn't upload docs for. After a week of back and forth messages (Their support is minimal and ONLY VIA PHONE APP CHAT) I get them what they need and they assure me they have changed the name to what it should be. A month goes by and I check the account and turns out they never changed it. I've sent them multiple chats asking what happened and no one has gotten back to me. We will be moving all of our accounts back to our old bank and just pay the monthly fees. At least they offer support.

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  • author
    David S.
    Jul 11, 2022
    Everything was running very smoothly

    Everything was running very smoothly, then we received an ACH from one of our customers which should be available immediately. It showed as such, then the bank put it on hold and my overall balance is correct, but my available balance is not. I called the company, and the person I spoke to Janis told me she cannot look at my account, and that someone will get back to me in a few days. What kind of garbage is this? The company is owned by Middlesex Bank, and they are not helpful either. I think this company is possible a scam! They have several thousand dollars of our money tied up. This is clearly not acceptable and in violation of banking laws.

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  • author
    David S.
    Jul 10, 2022
    I do not understand how they can tell…

    I do not understand how they can tell me my account is overdrawn when a direct deposit was in my account, and they show it as pending, yet it was a part of my available balance, and I am in no way overdrawn. Then they had the nerve to send me an email over the weekend that my account is in the negative and my credit rating is going to trashed. Naturally, nobody is available to get ahold of! On top of this when you use bill pay, they charged me $0.38 to send a customer a check via bill pay. This is a disaster of epic proportions. I never had any trouble with PNC Bank.

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  • author
    Bah Family Trucking & Logistic
    Jul 08, 2022
    Here to stay. Best bank I’ve dealt with.

    Ever since I signed up the whole NOVO experience has been a breeze. They make sure all my payments go out on time the app is super easy to navigate. They made my PPP application so smooth and I got my funds a few days later and when it came to the forgiveness they sent e-mails reminding me to file and they mad that process smooth too. For as long as I stay in business I’m not switching for my banking needs.

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  • author
    Micah Wakefield
    Jul 07, 2022
    Novo is a hot dumpster fire.

    USE A DIFFERENT BANK I lost my debit card. Their 'fraud protection' is in a different country and didn't even know Novo was a bank Got the actual number to speak with a human. (617-666-4700 or 844-260-6800) Andrew didn't know ANYTHING about the bank. Not even if they are FDIC insured. He was rude and not helpful in the least. After an hour and a half of playing games with them, I still don't have a debit card. At this point, it's moot. I will never allow this company ANY access to my money. What a TERRIBLE company full of people who just dgaf.

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  • author
    Alexis Lakins
    Jul 06, 2022
    They have locked my business account…

    They have locked my business account with no explanation or next steps! They have zero communication with me. I have $20,000 frozen. I contacted my lawyer this morning! Then someone from their company reviews my LinkedIn in profile!?

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  • author
    Olga Gardner
    Jul 01, 2022
    Largely useless — unless your small business is not urgent?

    The noise to signal ratio is ridiculous. The only way to communicate with customer service is email, which, being a non-urgent means of communication, drags out for hours and days resolving a question that could have been answered by live chat or phone in two minutes. If the customer service rep who answered the email has reading comprehension issues and instead of your question answers a question no one asked, you need to reply and wait for another answer for hours or days. There are no other options to contact this bank. Meanwhile, they absolutely bury you in auto-generated, meaningless emails that flood your business inbox. They are truly obsessed with email. It’s disturbing, not to mention disruptive to your business. I ended up closing our account before we even made use of it, so this review is solely about the unsustainable communications.

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  • author
    Sweet Lady Lei LLC
    Jul 01, 2022
    DO NOT USE NOVO!!!!!!

    DO NOT USE NOVO!!!!!!! They treat customers like trash. If I could give them 0 stars I would. They make life unnecessarily difficult for small businesses in good standing. WORST BANK EVER. period

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  • author
    Dr. Wilson
    Jul 01, 2022
    Discrimination

    Run a business we are very popular. Once they found out we do humanitarian work in Asia and Kenya our application was denied with haste. Our organization has a long standing, we have all or financial and legal documents in order. Didn't matter. Take your business to a more reputable place

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  • author
    Lb Flett
    Jun 29, 2022
    DO NOT USE THIS BANK

    DO NOT USE THIS BANK. I have lost my housing because of this bank. They absolutely destroyed my life because they closed my account for no reason and still have not sent me my money in over 2 months. There is no accountability, no apology, no actual human I have even gotten a hold of. Everyone who works for this company should be ashamed of themselves. I hope this bank fails, crumbles, and is no longer able to inflict this suffering on another customer.

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  • author
    Jeff Provinse
    Jun 29, 2022
    Not for small businesses after all.

    I tried to deposit a check through mobile deposit and it was rejected. I have previously deposited a check from the same company, which is a Fortune 500 company, and it was accepted. Now I am told by Novo it was rejected because it didn’t meet certain risk criteria, and that it cannot be re-submitted. Their recommendation is for me to ask the company to issue another check. I’m embarrassed that I have to go back to this company and ask them to stroke me another check because my little online bank didn’t accept their check. Pulling my funds from Novo and will never do business with them again.

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  • author
    No more destroy papa
    Jun 28, 2022
    DONT USE NOVO

    IF YOUR READING THIS PLEASE PLEASE DONT MAKE A NOVO ACCOUNT, THEY LITERALLY CLOSED MY ACCOUNT FOR NO REASON AND DIDN’T TELL ME WHY. PLEASE DONT USE NOVO ACCOUNT TRY SOMEWHERE ELSE DONT USE NOVO BANK ACCOUNT AT ALL!!!!!!!

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  • author
    Lb Flett
    Jun 27, 2022
    THEY STILL HAVE NOT GIVEN ME MY MONEY

    THEY STILL HAVE NOT GIVEN ME MY MONEY. IVE BEEN WAITING ON A CHECK FOR 3 months. No one responds to me and I’m in the verge of losing my housing. I’m a school teacher and I don’t have summer income. This check was all I had and I STILL HAVENT RECEIVED IT. NOVO IS A CRIMINAL BANK THAT ROBBED ME.

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  • author
    steven appleton
    Jun 26, 2022
    In my life I have never experienced a…

    In my life I have never experienced a bank that has given me such trouble. I had a serious fraud on my account by someone who obtained by debit hard number and purchased nearly 5k in music event tickets and ticket insurance. My card was always in my possession and I rarely used it except to receive funds and for certain limited transactions. Upon discovering these transactions, I immediately informed the bank. No provisional credit provided and they refuse to treat the fraud as fraud, instead shuffling me into an online only "chargeback dispute." They already denied one of the charges. There is no opporutnity whatsoever to talk with a person and the set of exchanges from them via email and the "app" messaging system has been confusing and inconsistent. Not only is there no person to speak to by phone but each person I speak to in the app or through email, is a new one and states different things from the prior one. The interface and integration is great. The implementation is not ready for prime time. The fraud filters are non-existent and the handling of fraud is...almost itself a fraud. This is my worst experience in banking in my entire life. The underlying bank is Middlesex Federal Savings who deny NOVO as their stepchild and provide no assistance, even though they are who actually hold the funds. What a mistake I made putting a large sum of money here and tying my online processing to this disaster of a bank.

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  • author
    Justin Gagnon
    Jun 25, 2022
    Really not impressed with any Bank that…

    Really not impressed with any Bank that doesn't offer Instant Transfers. Virtual card wouldn't work with CashApp or Uber but the Authorizing Zero dollar charge Push notifications were popping up meaning they're just blocked from happening. Instant transfers are a life line for any small business. Would not recommend this account to anyone unless they were to partner with a much better bank. If you like online banks I recommend Found. Although they for some reason got rid of Mobile Deposit instant transfers work with your Physical or Virtual Cards, I've transferred thousands around. They've always answered the phone within moments of calling them and funds hit your account as soon as the parent bank receives them. Sorry Novo there's no chance I would ever come back even if you were to get your act together....

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  • author
    Joe
    Jun 24, 2022
    I wish I could give less than a 1 star

    I wish I could give less than a 1 star. Whoever has created a mobile deposit app needs to go back to elementary to learn. It's a nightmare to deposit a check. Constantly rejecting the images which doesn't make any freakin sense. While many banks nowadays instantly funds your account, NOVO takes act congress to make that happen. Simply Horrible & pathetic!

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  • author
    Anthony Whittington
    Jun 19, 2022
    Absolutely Wonderful Bank

    Absolutely wonderful bank. Great communication and they are constantly working to innovate. They integrate with multiple apps including Stripe, Square, Shopify, and PayPal, Venmo, Quickbooks, and Freshbooks just to name a few.

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  • author
    CP
    Jun 15, 2022
    Absolutely no customer service, suspicious activity

    Really terrible customer service. It's impossible to get anyone on the phone. I sent money to my business account using Wise and it was immediately pulled out of the account by Novo. When I wrote to them, they said it was going to reappear within 1 day. It did not return and the money is now missing. I have no choice but to close the account, it has been a complete waste of time and also either fraudulent or extremely poorly run. As soon as I mentioned this in a support chat, the thread would be closed and they would say someone else is looking into it.

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  • author
    Michael Mikhail
    Jun 15, 2022
    The absolute worst bank i have ever…

    The absolute worst bank i have ever dealt with in my life, and i have dealt with many banks. They take forever to fund checks and most of the deposits are rejected for no good reason at all. i have been trying to deposit a single check with them for over a month with no luck. Finally, they told me that they were closing my account and weren't allowed to tell me why. Save yourself the aggravation that i had gone thru and stay away from this terrible bank!

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  • author
    Christina
    Jun 15, 2022
    SCAM BANK: Tons of hidden fees

    Tons of hidden fees and no customer service. I lost more money by Novo not working with all banks and transactions taking up to a week to process. DO NOT SIGN UP.

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  • author
    Lisa
    Jun 18, 2022
    BEWARE

    UPDATE after Novo's reply: Novo's reply shows further evidence of the incompetence you'll have to deal with if you open an account with them. Clearly the person who responded did not read my review as I clearly stated one of the problems I had with them was getting my debit card replaced (which is one of the places they state I can get the support phone number). Additionally, what this person did not say is that even if you happen to get ahold of the phone number, you need an active account number to reach a person. You'll be prompted to enter an account number before getting transferred to someone and if the account has been closed you'll get a message that you have to email support and then you'll get hung up on. BEWARE. I have wasted hours upon hours of my time trying to accomplish basic banking tasks with Novo. For example, I needed my debit card replaced and called the number listed on their site for that specific task. The woman who answered asked me what company I was trying to reach (it seemed like she didn't actually work for Novo and was handling calls for a bunch of different companies), she couldn't locate my account, and said she couldn't help me. After several frustrating interactions like that with them, I found a new, better bank. I've requested a closing statement (which they are required to provide by law since I had EFT transactions during the period), and they are refusing to send me one. There is also no way to speak with customer service unless you are an active customer. STAY AWAY from this so-called bank. There's a big reason they're free--it will cost you more in time than any other bank could ever charge in fees. There are so many other options out there (ex: BlueVine, CapitalOne, etc.).

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  • author
    sampy singh
    Jun 14, 2022
    wasted 24 hrs in their application…

    wasted 24 hrs in their application process only to learn that they could not verify original CA driver license and LLC company documents. Not sure how a bank can exist if their ability to verify documents is questionable. This was the first organization in US which said they could not verify my CA driver and rejected the application without providing any solid ground on the reason for rejection.

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  • author
    Nick Blount
    Jun 13, 2022
    Novo is great if you start transfering…

    3pm Update... a few hours later... before my review below went live, i recieved a msg that my limit had gotten updated... this time only the monthly, almost got aggravated, but it chatted back to please raise daily as well... about 3 hours later, it was raised.... maybe there is hope yet. I am going to leave the below review unaltered... Disappointment comes with unfulfilled expectations. So, set your expectations accordingly. Novo was easy to setup, and easy to use online, with several free integrations... so, if you proceed,. just go plan ahead as much as possible, and plan on excercising your patience when you need urgency. Raised from 1 to 3 10am Novo is great if you start transfering money 15 to 30 days before you actually need it. I am at day 10 currently. I put $xxx,xxx,xxx.xx into novo, and they kindly approved by transfer limit increases. There is only one raise option to request at a time... per transaction, daily, or monthly. Thankfully, the first 'bot' that approved my limit increase, could tell that a daily increase approval needed the corresponding monthly increase. The standard limit is $xxxx.xx... I appreciate the possible fraud protection, but I can't do much business with that. Not this time... approved my daily increase... but left the monthly limit the same... almost funny. So... when you're losing thousands of dollars a day because a transaction wont fund because of 'bot' incompetence... you are going to want to talk to someone. Again, not here... it will be three days before you get an email, then three more for a response to ask if its correct, then three more for 'bot' implementation. Hehe. Jokes on me for thinking I could give a 'chat bot' almost $xxx,xxx,xxx and expect a good outcome. Lesson learned. Edit about 30 min later... I think everyone should have a go with novo... then there will a massive driving force of people to FIX this chat bot mentality of customer service... everyone who thinks they have a good app idea is using it along with minimal support to go out and get rich... maybe stick to making games... my kids will love it. (the next generation could use some exercises in delayed gratification)

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  • author
    Dennis Alex
    Jun 11, 2022
    I can’t get a hold of anyone to close…

    I can’t get a hold of anyone to close my account and access my money. I can’t verify my account as my business is now closed, and I no longer have the associated phone number or email address. The phone number on my debit card requires the account number (which isn’t my debit card number I guess) and then says to email them if you have issues, and the emails don’t even go through. I need someone to contact me so I can verify my identify and access my account!

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  • author
    kenneth harris
    Jun 11, 2022
    Great Bank For Small Business

    I want to say my experience with Novo Bank has been great! You must give them time to trust you and learn your business, then your hold times on checks will be reduced to one day! The only reason i gave 4 stars is that getting to talk to a person is really hard right now, I think this is because just like all business they need more workers. Build a relationship with them.

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  • author
    Another Dissatisfied Customer
    Jun 08, 2022
    I am very unhappy with this bank

    I am very unhappy with this bank, they are really just a middleman web front, and I dont think they even handle the money, as transactions are posted to some other bank in Mass. I guess that why it takes them so long to clear deposits and respond to customer service requests, because they have to go through someone else. And their responses to these reviews are just plain hype and most are untrue. Not recommended at all. :(

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  • author
    OULI'S OINTMENT / MULTI PURPOS
    Jun 06, 2022
    Fraud on account bad customer service

    If you value customer service I don’t recommend Novo. My bank account had over $1000 in fraudulent activity and I have to navigate it through robotic copy and paste answers by the customer service texts. Stick to a bank you can pick the phone up to when there is a problem like your account being emptied. We have an online bank for our personal and we can call them when we have a problem. We’ve been with them for years, so it’s not that it’s an online bank, it’s the way they have structured contact.

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  • author
    Bobby
    Jun 03, 2022
    This is an absolutely terrible "bank"

    This is an absolutely terrible "bank". I've been with them for a few years, ever since azlo closed and they poached a lot of their small biz customers. the difference between azlo and novo is night and day. for one, with novo they make it nearly impossible to reach someone. they have a number on the back of the card that - should no one be available to take your call (in the middle of business day hours) they ask you to leave a voice mail - which they never respond to. then, their live chat thing is totally horrible. this is a BANK, with actual MONEY - and you can't reach someone during business hours by any means. As of this week (may 31st and onward) Novo has a new option for "Express ACH" and there a "standard ACH" as well. with express you pay 1.5% up to 15 dollars on a transaction to receive the money same day, or next day, with the standard option taking up to 3 business days. will guess what? before there was an express option, ALL ACH TRANSACTIONS POSTED TO MY ACCOUNT IN ONE BUSINESS DAY - so they're blatantly lying now about "no fees" - there is a 1.5% fee to do what used to be free. I used to recommend novo to anyone starting a small business account and at this point I couldn't get my money out of my account any faster. when this 'express transaction' posts to my account (in what looks to be 3 business days, actually... absolutely crazy), I will take the rest of the money out of the account, and never work with Novo again.

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  • author
    Jonathan Arceneaux
    Jun 18, 2022
    Stay far away if you care about customer support or usability

    If you care about customer support or simple task like using your account to pay lease, stay far away. This company has issues with Pre-Note authorizations which is a zero dollar test to validate bank account information. I've never had a bank with this issue. I am not able receive funds via EFT because the account always fail confirmation test. Also, I cant add account and routing to pay lease because it also fails. With no ACH, I'm only able to use debit card which has really high fees to process for lease and I don't use debit cards for anything. Edit: This review was after already contacting customer support which was no help on multiple occasion. I get multiple responses about "how everything should work".

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  • author
    Lb Flett
    Jun 01, 2022
    Novo has truly been the worst thing I…

    Novo has truly been the worst thing I ever did. They closed my account and said they would send a check to me with my remaining $5000. It’s been over a month, I still haven’t received my check and I’m behind on my bills because of it. Customer service has stopped responding to me and I’ve even been calling Middlesex daily to see if there’s any way they can help me. At this point it seems Novo has just scammed me out of 5 grand and now I’m left wondering how I’m going to pay rent and put food on the table. I’m writing this review because I have no other choice. I hope Novo sees this and does the right thing. But I’m not sure if anyone at the company even cares.

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  • author
    Tony Davey
    May 31, 2022
    This has got to be absolutely the worst…

    This is hands down absolutely the worst banking experience I've ever had to endure. Open an account on 5/12/2022 and got approved. On 5/13/2022 I made an instant deposit of $51.00 via PayPal because that's one of the options according to the App and my money was instantly taken from my PayPal account only to not be instantly deposited into the Novo account. After about an hour I try contacting support with no luck. 5/14/2022 I receive an email from Novo that my account has been flagged for fraudulent activities and they placed a temporary hold on the account. Keep in my mind my $51.00 deposit still hasn't arrived and Novo is telling me that they got no record of me ever depositing anything into the account. Fast forward to 5/27/2022 my account is still flagged and my deposit is sitting in the account but I can not withdraw my funds because they froze the account. Now I'm being told that they are closing the account and will not offer any explanation as to why also any funds that remain in the account afterwards will be mailed to me in 7 to 10 business days after the account is closed. 5/31/2022 the account is still opened but all transactions are frozen and they will not let me withdraw my money back to my PayPal or any bank account for that matter. This has got to be the worst bank I've ever dealt with. Customer service is absolutely rude and doesn't have a clue. Do yourself a favor and stay away from this so-called bank.

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  • author
    Tomeka Brown
    May 29, 2022
    Debit card being declined everywhere. Can't reach anyone. Unacceptable.

    I am so upset. I was very excited to get his new bank and my debit card worked for one week. This week my card is being declined for everything. I can't reach anybody and this issue has been a huge inconvenience for my family. I've been with them month and I'm already over it. I can't have MY money held hostage and no way to reach anyone.

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  • author
    antoinette Ferris
    May 25, 2022
    I had a dispute for a transaction

    5/25- response to Novo. Yes, I received completely useless information from your bank to be told it’s a civil matter. The cops aren’t going to get me my money back. MY bank should protect my account from fraudulent transaction. Yet ANOTHER request was sent requesting what information was sent in by the vendor and NOVO has yet to send this to me per my repeated requests. Instead I just receive CUT and PASTE canned responses. 5/23 I had a dispute for a transaction from JANUARY . First let me state it took 122 days! NOT once was I ever contacted by anyone at the bank during this process. Today I was told the merchant won their claim and I would not be refunded. It was an $800 transaction for legal preparation in which the service was never provided. In fact I had to hire an attorney to start the process all over again. The company missed several deadlines refused to finish my file. Failed to respond to BBB and even told me to lie to the courts because the company forged my signature which is Penal code violation PC115 and classified as a felony. Yet Novo is incompetent to win this dispute. Beyond belief. Do not use them for anything but standard purchases their dispute process is a total Joke!!!

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  • author
    Patricia Dahlstrom
    May 21, 2022
    Please let me save you

    Please listen and let me save you from the worst banking experience I have ever had. First I had multiple times where a deposit sat pending for weeks and I kept going round and round with them as to why. When I already was switching banks, my debit card suddenly has fraud charges on it. I am frantically trying to cancel it and can’t get an answer on the “24/7” line. I was finally on the phone for the one when a second went through. I jumped through all their hoops and contacted the vendors, they said they submitted the agreement to refund it but Novo only returned the smaller charge. I keep asking and they say it takes a while…I am talking months. I also sent a check through them and it never arrived and still shows pending. No way to cancel or anything…again MONTHS later. If you talk to their customer support, they just say they have to email another department. From my conversations everything is third party and customer service is non existent. You can chat but if they answer and don’t just close a support ticket without an answer like they have many times, you don’t really get any help. This is your money, park it ANYWHERE else. A mattress would be better.

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  • author
    UnlicensedKeys
    May 18, 2022
    This is not a real bank.

    This is not a real bank. They have no phone number, no e-mail, customer service is not allowed on a computer only on the phone app. They put 5 day hold on deposits, and it took them 10 days to process my 3 bill payments, and that was before they even mailed the check! Terrible experience.

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  • author
    Peak
    May 18, 2022
    WALK AWAY FROM THIS BANK NOW

    WALK AWAY FROM THIS BANK NOW Don't even try to sign up! I am totally disappointed in this so-called digital bank. The sign-up and account review process are basically a joke. After my initial funding is transferred, they asked me to send over the partnership agreement in chat. Uploaded and didn't hear back for a month. Contacted them, asking me to send it over email. Sent and didn't hear back for a month. Now they are asking me to upload again via chat. So my money is stuck, business is paused and partner is irritated, all because I chose this fake bank.

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  • author
    Sam Spamela
    May 17, 2022
    I’m done using Novo

    I’m done using Novo. It’s only been about a week. I haven’t even received my initial card they “sent out”… they’re asking me to request a new one. Where is the first one?? My money is stuck on the app now because they don’t offer instant transfers to other apps.. like novo to Venmo or PayPal. You can only do 3-5 business days. If this is for small business why do you think we can afford to wait that long for funds?? Make a long story short… thanks for nothing

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  • author
    Marci Badgerow
    May 17, 2022
    I stopped using this bank months ago…

    I stopped using this bank months ago after they sent a check from my account, withdrew the funds, but then bounced the check when the person cashed it. It cost me double. Now, I canceled a large purchase I had made with this account months ago and it was refunded to the form of payment (although I fought for them to send me a check). They are now holding my funds because my account is frozen for some reason. The only way to contact them is through a stupid bot, and 3 ‘people’ have responded to my demand for a phone number with the EXACT same copy/paste response. I’m a bootstrap business. While $200 may not seem like a lot, it is to me and I NEED it now, today. I am so angry, and it just reinforces why I moved my business to Chase.

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  • author
    jsupply
    May 17, 2022
    Novobanco in tavira

    Novobanco in tavira . I did an application for a mortgage loan it took them 3 weeks and asking for all the paperwork all over again to say well we need a grantor and for the90% you need to be portugees. Everyone run from this !!!! i will go now somewhere else where a customer is respected. they are all nice when you come to open bankaccount and want you . Once in nothing

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  • author
    Rose Girl
    May 17, 2022
    I have been with this bank a week

    I have been with this bank a week. I sent 4 Venmo " instant " transfers on Friday May 13th 2022. NONE of them have arrived in my account at the time of this review 10:45 Monday May 16th. Venmo did refund my Instant transfer fees Novo said they can't see the payments until they hit the account but that they don't support instant payments Where is the money? About an hour after I sent the money, I started sending questions to Novo support but I did not get a response until Monday only to tell me that they don't know. As soon as my money hits. I'm closing this account. .I highly recommend Novo if you like wondering where your money went and not getting answers.

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  • author
    Brittany
    May 13, 2022
    Closing this account ASAP

    Closing this account ASAP. Instant transfers from outside institutions magically take 2-3 days to appear. I have over $1300 just floating around after doing an instant transfer at 3:55 am...it is now 3:42 p.m. I have BILLS to pay that is just ridiculous. Sounds like they're making interest off of our money. It even takes almost an hour or two to receive cash app payments. Really??! Yeah they refund the $3 ATM fees but the hassle of wondering when your money will show up (or IF it will) is not worth the hassle. STEER CLEAR, YOU'VE BEEN WARNED!

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  • author
    Gina
    May 13, 2022
    I have been trying for days to get a…

    I have been trying for days to get a form filled out that my ach processing company needs. NOTHING! This is holding up thousands of dollars my small business needs to pay bills & payroll!!

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  • author
    Kevin S Hegwood
    May 12, 2022
    On hold for 7 days?! More like fattening their interest with your money!!!!

    This “banking solution” is an absolute waste of time. It has good reviews so I thought I would give it a try but after 2 instances they have rejected payments and charged my account $27. Just for general knowledge my brother also owns a business and I asked him to write a check so I could see on his end how long it takes novo to take funds from “the customer” surprisingly it was fairly quick but funds sit in pending for 7 days…… what is novo doing that other Real Banks aren’t….. well a reputable bank will charge you monthly maintenance fees but funds are available not “held for suspicious reasons” I would not recommend novo to anyone and it would be best to stay away from this garbage!

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  • author
    Chelsea Rose
    May 16, 2022
    No. Just no.

    Closed my account and notified me by email at 3pm that day- so basically no notice. They won’t explain why, or really any solid details on what the catalyst was. Not offended that they decided to terminate a business relationship, but the lack of notice cost me a few hundred in stop payment& reissue fees for payments. Update 5/16/22: Novo’s version of resolving my issue is to give the same BS answer and accomplish absolutely nothing. I wouldn’t continue banking with them irrespective of any answer, but it’s reasonable to know why they acted as such with no notice

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  • author
    John b Earnhardt
    May 12, 2022
    It works but primative!

    It works but primative!! Very everything takes longest time to update realtime wire transfers ; your charges won't appear a realtime balance for hours! This is a online bank that falls under middle Essex federal so any thing you need asap fast you might want to keep changes would be awesome! Waiting eagerly looking!

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  • author
    Allan Pelcak
    May 03, 2022
    Application denied without explanation. No suport response.

    We opened a legitimate business, have an EIN, active drivers license, permanent business address and a sales tax ID. We wanted to try online banking and applied online at NOVO. We had 10k as an initial deposit. For some unknown reason, we received an email denying our application. We tried unsuccessfully to reach a Novo representative. After two unanswered emails to their support email address, we gave up. Yesterday we went to Republic Bank who was happy to set up a business account for us and provide ATM access cards and business checks. I am sorry I wasted precious company time on Novo.

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  • author
    Michelle Wuesthoff
    Apr 30, 2022
    Terrible!

    After banking with Novo for the last 8 months or so, I simply cannot understand how it is so highly rated and recommended by otherwise trustworthy sources. Hands down the worst banking experience I've ever had. It took FOREVER to set up my business account, largely because it's really difficult to reach an actual person with the bank. My checks take a full 10 days to clear and another 3 or so to transfer to our personal account. If you have a question or need help, you have to go outside your banking interface to Google it, and even then you have to go through at least 2 levels of FAQs and blog posts to get a number to call them. Just opened a new account with a local bank and can't wait to get my money out of Novo.

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  • author
    Erin Kilbourne
    Apr 28, 2022
    Rude and Unprofessional

    I was in the process of setting up my business and had connected my website (Shopify) and other payment options to my Novo bank account, which was easy, but when I tested a payment I found out that Novo closed my account. They did this without contacting me to alert me of the possibility of this happening. Zero communication. I have only been able to contact Novo via email. When I reached out, this was the response I received: "We are unable to speak to the specifics around why your account was closed by our accounts team. We can say that the base of the decision is due to our risk tolerance for accounts and businesses." This is extremely unprofessional. I'm an independent business with only 1 employee. Not super high risk. This is all very shady and rude. I'm extremely disappointed in Novo and would not recommend them to anyone. I trusted them to be there, I got my business credit card in the mail and once I started getting payments they closed my account. Super frustrating. I'm going to a more legitimate bank and would suggest you do the same.

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  • author
    Joe Lichty
    Apr 26, 2022
    Unacceptable Business Practices, Stay away from Novo!

    I have started to use my new Novo business account, I wanted to instantly transfer funds into my account since its on my Novo dashboard in bold, yet i paid the instant transfer fee from my other bank to novo and after a hour still isnt there, I have never had issues doing that to other banks or cards until novo and im not happy since it wasnt a small amount of money. I contacted Novo and the woman i spoke to gave me the run around and stated sorry Novo doesnt support instant transfers and your funds will be available once they cleared in up to 5 business days which makes absolutely no sense since on my account it SAYS add funds instantly! Not only did i waste my money on a fee for no reason, now novo has no idea when my funds will be available or where they are? Im very disappointed and angry since my money is floating around and no answers. Once the funds are available Im closing my account right away and stay far away from Novo. Brex is better and customer service helps immediately. So do your research before doing business with Novo. I know Im done with them.

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  • author
    J LeMaster
    Apr 22, 2022
    I had 2 fraudulent transactions on my…

    I had 2 fraudulent transactions on my business account with Novo. They did cancel my card and issue a new one. However, 7 months later, still no resolution or reimbursement of funds to my account. Business model lacks customer service and person interaction with clients. Had to eat the loss. Lesson learned. Bank with a reputable company

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  • author
    Jason Morris
    Apr 20, 2022
    Novo is amazing

    Novo is amazing

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  • author
    Ornella Lemonius
    Apr 20, 2022
    Terrible terrible customer service

    Terrible terrible customer service. Stay away.

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  • author
    Mark Moses
    Apr 19, 2022
    Just an email is all it took

    Just an email is all it took. And the reply happened in less than 24hrs.

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  • author
    Mark Schrecengost
    Apr 18, 2022
    free bank

    free bank, cheap fees. good service.

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  • author
    Shawn Perry
    Apr 25, 2022
    My excellent experience

    My experience has been excellent fast response time very helpful and courteous,. I'm happy with Novo Banking ..

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  • author
    Marvin Clark
    Apr 13, 2022
    I love novo only thing novo needs is…

    I love novo only thing novo needs is the ability to lock your card . When I’m on business trips I like the added security of knowing I can lock my my card if it’s. Lost or stolen

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  • author
    D Smith
    Apr 13, 2022
    I’m a real estate investor and I…

    I’m a real estate investor and I thought an online bank would be agile enough for purchases. WRONG. Do not use Novo if you need to move any substantial sums of money. I’ve been fighting for over a week to move MY Money. Buyer beware.

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  • author
    Amy Kalama Hochreiter
    Apr 10, 2022
    Tried three times to open an account…

    Tried three times to open an account but was declined with no reason given so no way to correct information. Had to use three different email addresses. Finally went with a local bank. After reading the reviews it is a blessing we did not get approved by this outfit!

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  • author
    J.M.
    Apr 10, 2022
    I want my Money and account access back!

    I joined this "Neo" bank in 2019. Originally set the account up for a backup business account as I Primarily used Azlo for all my business deposits etc. 5/18/2020. Pandemic and PPP Loan approved through TabBank funds were deposited directly Into NovoBank. 5/30/2020 all of my business and personal accounts were hacked, via account takeover and I get some bogus we are closing your account notification, etc. Last I saw there was a very sizable balance available in this account. Novo to date hasn't produced ANY proof of withdrawal, a legitimate account statement with balance details, etc. I contacted the US SBA, they still show active loan account, so naturally I still OWE and BankNovo and Azlo ( Now Closed can no longer help). 4/2022 Apply at BankNovo, and they show I have an account with them? I have gotten absolutely nowhere with any requests of proof of my business account closure, or where the hell the funds went. I feel scammed, without recourse and want resolution. Please contact me directly so I can get to the bottom of this, or I will contact the necessary parties needed. Don't shut customers away and give them absolutely no way to help themselves after a financial hacking attack occurs. J.M

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  • author
    M Jackson
    Apr 09, 2022
    Way better than average

    I have had my business account with them for about a year, customer service by email is prompt, They refund 3 ATM fees a month on the last day of the month, deposits through the app are easy. They never send cross marketing junk mails.

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  • author
    Muraya M
    Apr 08, 2022
    Excellent Online Banking

    Great place to bank, no surprise fees, simple and safe.

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  • author
    David Langevin
    Apr 08, 2022
    I am so happy XM Radio advertised and I…

    I am so happy XM Radio advertised and I found them.

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  • author
    Raven Davis
    Apr 08, 2022
    Novo is an ok business checking account

    Novo is an ok bank. Most of it’s important processes are handled by another bank so it makes things like requesting a new card for my account take forever. Other than that it’s ok

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  • author
    Quinn Bailey
    Apr 15, 2022
    Mobile Deposit Issues

    My first mobile deposit was rejected by Novo since they said that they could not read a typed-out check. They told me that I had to go to my client and request a new check, which is unacceptable. I will be moving to a different bank once this issue is resolved. Update...The response from Novo to my initial review is typical of the customer service received. No acknowledgment of their mistakes and poor service. They did not resolve the issue in a timely manner and I did not receive the funds until nearly 2 weeks after my initial attempt to deposit the check. After the check was finally accepted, they lied (yes...lied) about funds being available on Wednesday at 3:00 Mountain time. They were not available until 24 hours later. Highly recommend going with a different bank if you're a small business.

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  • author
    iBiz Develop
    Apr 07, 2022
    Online banking can be scary as…

    Online banking can be scary as generally there are no direct phone support options. In this case, Novo makes it easy to get questions answered which is important for banking online.

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  • author
    TWISTED
    Apr 06, 2022
    Excellent customer service and the best…

    Excellent customer service and the best banking app around .

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  • author
    Russell Trace Jackson Klamboro
    Apr 05, 2022
    Great bank

    Great bank. Little long on the deposit Times but it’s just to keep their customers safe

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  • author
    Darlene Tucker Weenie
    Apr 04, 2022
    RiP OFF Horrible horrible service .

    Horrible horrible service .. When the new year kicked in my account went from over 10,000$ to 0.00 like my money didn't roll over .. was getting atm charges of at least 10 in a single 24hr period when bank taps out at $1000.00 per day not a penny over.. When asked wth where's my money they responded by saying they closing account.. no reason no explanation. On the 9th of March was told tht a check was sent out on the 3-3-22for my discrepancies to allow 15 -20 days shoot no money back still . And they won't email me back closed my acct so I have not access to on online.. RIP OFFS....... .

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  • author
    Fia Holder
    Apr 04, 2022
    Great Banking for small…

    Great Banking for small businesses....PPP application and forgiveness was very simple with NOVO!

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  • author
    customer
    Apr 01, 2022
    Terrible service

    Terrible service. They froze my external account from making DEPOSITS after one didn’t go through. They have to remove this hold manually and have been unable to for days. I can see them freezing withdrawals but to prevent deposits?! Im still trying to have them remove the hold they put onto my account just so I can put money in. I will be looking for a new bank after this.

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  • author
    Luk Fde
    Mar 31, 2022
    Why is my review Ben removed?

    Why is my review Ben removed?

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  • author
    Jed Alldredge
    Mar 30, 2022
    Have met all expectations for my new…

    Have met all expectations for my new business.

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  • author
    Terry Simmons
    Mar 29, 2022
    Had a problem with Novo confirming…

    Had a problem with Novo confirming address but it was resolved

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  • author
    Meredith
    Mar 29, 2022
    Bank Novo can't count…

    Opened my account a year ago for my single member LLC. No issues until they bounced a payment to my 1099 employee in error. Tech support admitted their mistake but refused to take responsibility. You can't speak to a person, ever. I can't trust a bank that cannot count. Save yourself the drama and pick another bank.

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  • author
    Cloys Feldman
    Apr 05, 2022
    Canceled Service

    I my account was edited so I was unable to recover it because my information didn't match what was on file so they couldn't send me a recover link even after I supplied the all my info when I signed up... I have not been contacted by one of their agents.... Cloys Feldman 251.222.0028

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  • author
    Olive O
    Mar 23, 2022
    Ghost Bank! This is a very bad customer service Dispute/fraud charges is not investigating! …

    This is a very bad customer service bank. I called in for dispute due to card lost, and the agent told me to go to the apps and NEED to hand written a letter saying I need to dispute? So I did, and they come back with saying 120 days wait time rules, without any letter telling me anything. No reference number, not asking me to signed anything at all. By 30 days I call (never a human answer) and I went to apps, they start telling me, not able to dispute because they ask the fraud merchant PERMISSION to return and they refuse? This is about $1K , is my hard earn money. I email them a lot in the apps, they keep sending me a standardized email “saying final verdict? And look for law enforcement?” And all CLOSED my inquiry immediately. I asking for immediate reopen the dispute. Or is that police report they needed? They are not replying. I asked someone call me back never anyone contact me. All they been very busy to closed my case in the apps. I ask for documents of prove on the dispute case they never reply. They didn’t work on my dispute case at all! This is not a bank! It never protect your rights! Updated: I called many times and they are busy to put down my phone. I asked for supervisor to speak to, they told me they do not have one, I ask for transfer call to dispute team, they telling me no dispute team to transfer, Yet they keep telling me dispute is final Not able to help, ask for documents of proof for review- what they have work on, they saying they don’t have any documents, I ask for agent ID, she saying she don’t have one, they are rude and they just put down my phone. I putting $100K in this bank, I’m going to a proper bank. You can not joke about your money here. I have no way to turn to, apart from giving them a bad review and report to FDIC about it! They operate like a ghost bank.

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  • author
    Rynard Moore
    Mar 22, 2022
    Novo Rejected My Application For No Reason

    Thank you Novo for rejecting my application for a small business checking account because you saved me all of the headaches of dealing with your horrible company. I have decent credit and I have not had a negative issue with my personal banking accounts for well over 20 years. Yet when I tried to sign up for a business checking account to cover my gig work -- y'all denied me because I was high undefined risk which made me unsuitable for a business checking account. Thankfully, upon being rejected -- I did some more digging and found that all those Youtube videos praising Novo were pretty much lies. As well, I signed up with another company and they gave me a business checking account within minutes of me making my application. Finally, I will say that Novo totally sucks in every way possible. You all wasted my time big time and as well attempted to insult my intelligence. Thanks again -- because not only have you lost me as a customer -- any of my associates will be informed to not use -- or discontinue use of -- your services because it is a total waste of time and money.

    ...

  • author
    adam daines
    Mar 21, 2022
    Can't get your money or speak to anyone

    The tech is outdated and the limits placed on business has meant that I am going back to my chase business account. However, it has taken now 4 days to try to get any money out of the account. There is no way to speak to anyone and the chat function is useless, I think they only have 3 people working for the bank. Frustrated is an understatement, stick with the major banks.

    ...

  • author
    Kaleb Ramos
    Mar 20, 2022
    The ONLY Business Bank Account You'll Ever Need !!!

    Literally the best bank to for all your business banking needs. The app is seamlessly curated to the modern needs of an entrepreneur and everything is just so clean, thorough and concise. The perks/rewards system is super cool and that's not even the half of it. The support system is built into the mobile app so if you're ever having an issue you get to submit a ticket WITHIN THE APP and chat with an agent live ! No more sending emails back and forth that tend to be hours apart like most other banks operate. Do not have second thoughts about joining Novo. This bank is going places and I'm excited for what the future has in store !

    ...

  • author
    Brad
    Mar 19, 2022
    Recently found Novo and so far have had…

    Recently found Novo and so far have had a great experience. The app is very well designed and responsive, and it seems like a good option for a small business owner.

    ...

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