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

Don't put your money in this bank if…

Don't put your money in this bank if you need to withdraw it. Sometimes takes days to withdraw large amounts. Not sure why I'm restricted on how much of my money I can withdraw. I don't recommend this bank.

I’m not a fan of big institutionalized…

I’m not a fan of big institutionalized banks, they are very behind in terms of modern functionality when it comes to financial planning. It doesn’t make sense to have all these third party planning tools when it can be built right in. Novo has proven that they’re willing to do that. I’m in love with their sub account features and the newly added automation that was put in place for that. Banks need to be more tech than ever these days and Novo is on the forefront of it. Thank you Novo! ...

The app feels fresh and clean

The app feels fresh and clean. Plus integration of so many useable resources makes doing business convenient.

Novo co Banking is a fraud

Novo Bank is a fraud. They are taking advantage of small businesses. Fraudulent charges were made to my account. I contacted Novo after spending several hours on the phone and several unhelpful emails. That basically blames me for the charges. I was told I had to wait 120 days for the fraud department to file a claim with the merchant. After 120 days, I reached out to Novo to be given the runaround, calling every day for the dispute department to tell me that there is nothing they can do ...

Highly Recommend This Simple Banking

I have been with Novo for over a year now. Love the simplicity and UI of the platform. They also have multiple integrations with apps that are necessary for small business owners. Highly recommended if you are a small business owner!

Awesome app

Date of experience: November 29, 2022

No outbound phones, no live chat, no suppot outside of app, Indian call centers - DONT DO IT

I opened a Novo account after reading some grat reviews and the awesome integrations they offered into the sales plaforms I use. Unfortunately, security and the customer support needed after an incident were alarming. Yesterday I received a robocall that informed me that there was a potentially fraudulent charge on my Middlesex Savings Bank account. I didn't know what that was, so when I googled and found out it was the owner of Novo, I was confused - I have two factor turned on, haven't ...

Awesome for online banking

Love how it has everything I need in one place and I am easily able to set reserves to budget for expenses. I've been using them since the beginning of summer and it has made it so easy to send payments directly to my contractors' bank accounts and not have to hand out checks every time I need to pay them.

Reasonable rates and no hidden fees

Reasonable rates and no hidden fees! Used their services for my start-up. It was a pleasure to work with them. But, as the business grows, you need additional services and facilities. So, I don’t recommend them for medium-sized companies.

No phone number for live support/won't let me close account

Literally just want to speak to a live person so they verify me, help me log in and close this account. Their email responses have been very lacking with one even telling me 'your response is available on the mobile app'... which I also can't log in to. Absolutely ridiculous that they have NO PHONE NUMBER to contact.