Novo Reviews in June 2026: User Ratings, Pros & Cons

This company is a fraud that steals your money

I had a canceled and refunded transaction on my account. This bank placed a hold on my funds saying the hold would fall off in 14 calendar days. However, after 17 calendar days, they are still holding my money which I do not have access to. The worst part is that no one can give me an explanation of why my funds are being held for a transaction that was refunded over 2 weeks ago. They won't even tell me when I will be able to have access to my money. Customer Service is a joke. Do Not put ...

I am taking my business elsewhere

Customer Service is challenging since it is all done through the app. Once my transferred funds were lost and did not deposit to my external account for over 7 days. I had paid for the funds to be expedited to cover incoming bills, which I was charged for insufficient funds. Novo did not reimburse the expedite charge nor the bank fees incurred. I thought an online small business bank would give me ease with transactions. It has been far from my experience.

Simply closed the account with no…

Simply closed the account with no reasoning. Very rude.

Good deals and customer service

Date of experience: October 19, 2023

Great customer service great response…

Great customer service great response always in a timely manner

I am taking my business elsewhere

Customer Service is challenging since it is all done through the app. Once my transferred funds were lost and did not deposit to my external account for over 7 days. I had paid for the funds to be expedited to cover incoming bills, which I was charged for insufficient funds. Novo did not reimburse the expedite charge nor the bank fees incurred. I thought an online small business bank would give me ease with transactions. It has been far from my experience.

All virtual

All virtual, very easy platform to work with, no fees, small business friendly

Same generic answer with no resolution

So as is the normal response is "apologize and will look into this" you have been "looking into this" for 9 weeks. $4,400 in fraudulent charges and not one alert from them. Charges done in the UK??? that would be a flag?

Class Small Business Bank

Definitely a good bank that fulfills your small business needs.

Straight froward and easy

Great Customer service. Attentive and knowledgeable.