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

This bank is not effective for business…

This bank is not effective for business use. You cannot use a check, you cannot get a cashiers check, you cannot wire transfer cash, and your card has a 5k spending limit. You can ACH funds, however, the transactions take 2-3 business days to complete. Most business owners don’t have 2-3 days. Also, getting in touch with someone to actually speak with is very difficult. Do yourself a favor, and get a bank with a physical location near you. If you ever need a cashiers check or a wire, ...

PANICK ATTACK

I see my account was -$252 and i was concerned that my account may have been breached. The staff took immediate action and comforted my concerns. My account was immediately investigated and the issues corrected because of a merchants mistake, not Novo bank and I truly appreciate the immediate response. Give Lady Lee mucho kudos from me and my family. Awesome Job Novo Team

Terrible bank

Terrible bank. They initially always reject checks signed using a "Unique Character Facsimile Signature", causing a delay, then requiring you to resubmit the check upon contacting support. The check is eventually deposited. Also, it takes much too long for checks to clear. I'd reco another bank.

Stay far away if you run a business

I’m updating my review to 3-stars. I had a bad experience but Novo worked on it to find a solution a day later. I would say anyone considering Novo, just know what you’re getting into. The upside is speed of set up and low fees, the downside is slow customer service, especially when you have a unique problem.

I deposited a 19073.00 check into my…

I deposited a 19073.00 check into my novo business account. They froze my account immediately after they cleared it 4 days later. Two weeks later and they email me saying that there closing my account that Friday the 6th and mailing me a check for my available funds , which 19073.00 to my address. So ok cool they sent email and text I even called and confirmed they had right address on file. Here it is Wednesday the 13 th and my account is not closed and my money is still frozen !!!!!!

Easy to work with and connecting…

Easy to work with and connecting accounts following your account via their application, support team doesn’t leave you hanging, my cellular signal lost connection, the NOVO team reached to me a few times and we picked up right where we left off at.

PPP loan and loan forgiveness app

I received the first draft of the PPP loan in May 2020. The entire process was quick and easy. I submitted my loan forgiveness app in Sep 2020, which I was expecting to be complicated, but it wasn't. The format was super user friendly and I completed it in a matter of minutes. I received an email today saying that the SBA approved my application and that my PPP loan was all forgiven. Great experience from being to end.

They deserve a lot of credit for what they will do for you on a free account

Thanks for being more accomodating as far as giving me more than enough time to come up with the money for the amount of my account being overdrawn. Most other banks probably would of allowed for it to go ten days before they closed the account. Also thanks for only charging me only the amount that went through that overdrew the account, and also for just paying that amount, otherwise you could of very well just rejected it. Also thanks for not charging me a overdraw fee, where as most ...

Do NOT USE NOVO bank

Do NOT USE NOVO bank. There is NO customer service line to call. Our business debit card was used fraudulently - no alert from them. I got our card cancelled, but they do NOTHING to credit your account. Oh - and there is NO PHONE number to call these people. It took them SEVEN days to respond to my request for crediting our account back, and then they want you to fill out this long form, and the email I got says it takes them SIX MONTHS to get that money back to you - if at all. Your bank ...

A Huge, Frustrating Waste of Time

In theory, I love the idea behind Novo. Simple, no fees, and integrations have been surprisingly available. BUT. There is zero support and I mean zero (this is why there aren't fees). That would be fine if simply receiving my debit card after sign up hadn't taken 2 months along with countless emails and time spent on hold just to leave a message. Their in-app customer support takes forever to get a response from (via email, 24+ hours later) and even when you do, it's the same form letter ...