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

Great all round banking solution

Great all round banking solution. For a small business, this has everything I need and more! Looking forward to seeing how Novo grows and becomes an integral part of my accounts!

Take more risks

Take more risks. Give more loans

Highly do NOT recommend for any BUSINESSES but ALL SMALL BUSINESSES AVOID!!!

Highly do NOT recommend for businesses! My connected stripe account made a deposit into my account on Wednesday 7/12/2023. As of 7/15/2023 that deposit has yet to clear or be available in my account on Saturday. The APP says its available, but all my purchases and even attempts to withdraw from an ATM have been declined. I have called and left several messages that have not been returned! I called in TWICE again yesterday and spoken to two people. The recurring theme is one can help. I ...

Novo closed my account!

Date of experience: July 12, 2023

Refused to accommodate a $3000 increase…

Refused to accommodate a $3000 increase in my business line of credit. This is following a 20minute call with one of their banking personnel. I explained my business revenue and provided all the required details. Noting revenue exceeding $15000/month. Yet they only provide me with a $3800 business line of credit.

Excellent customer support

Excellent customer support. App is sharp and intuitive. Very happy with Novo and how it’s helped my business. I highly recommended.

Avoid

Used Novo for about a year. Customer service is terrible, and worse, they will close your account for seemingly no reason at all with no notification, as they did to me. All your records and data will not be recoverable. Stay away from this garbage fintech bank and use a real bank that actually complies with federal banking regulations. Edit for Novo: Not disclosing my personal information in a public review. Already went through customer service about this matter and was completely ...

4 months of automated text after Novo…

4 months of automated text after Novo allowed 10+ fraudulent charges to post on my business account. Nearly wiped out my funds. I don't know how I managed to keep my business afloat basically without funds for 4 months. I like the small business features but keep less than $100 in this account out of fear of this happening again. I have since opened an account with a brick-and-mortar institution that values security.

Support can't help.

Support can't help. I used Novo account to run my business. First off, the physical debit card did not arrive for me, it took a whole month! I used a virtual card that has small limits. Then they blocked my account altogether without telling me anything about it. My virtual card was no longer accepted, and bank transfers were also unavailable. Calling the phone did not help anything, the operator did not answer anything because he does not know and will not find out. They are doing an ...

Easy and fast to setup my business…

Easy and fast to setup my business account and integrations with payment systems. Included invoicing, budgeting and tracking work great to get my business finances in order and drive forward with greater momentum. Loving Novo so far and highly recommend it to any small business.