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

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 ...

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 ...

Untrustworthy with my money

Initially my experience with Novo was good. I knew I wasn’t getting interest or phone based customer service. Writing checks and sending invoices via the app worked well. Problems arose when I had 3 credit cards stolen from me (including Novo card). They were used to make charges of a few thousand each. Two of the banks returned the money immediately. Novo said it would take up to 6 months. The process from there went downhill quickly. Despite having video evidence of the theft and a police ...

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

Terrible terrible customer service

Terrible terrible customer service. Stay away.

Great banking options for small…

Great banking options for small business and i love the separation of funds without needs a whole separate savings account.

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

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.

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!

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 ...