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

This bank is by far the worst bank I…

This bank is by far the worst bank I have ever Worked with 1. not only did it take me 2 months to receive my debit card record I have positions that has been declined statement that as a credit card when in fact it should not be 2. I have been charged overdraft fees these 2 and 3 times A-day it was A-day for the last 6 months I have been charged is Charles roughly 20 overdrive charged it's overdrive charges and Despite me not using such account I am still charged overdraft fees,I have e ...

you are very awesome thank you

very extraordinary bank thank you for your efforts ooh rah

Takes too long

If you want fast access to your card look somewhere else. The account set up should take 1-2 days but it can easily take a week is they need any extra supporting documents, which is somewhat understandable. The part that got me mad is that it takes 3 weeks from when you finally get you account set up to receive a physical card. I needed to start making purchases with the business card and obviously couldn't. I contacted support when I saw how long it would take and there's absolutely ...

I would not recommend this Bank to…

I would not recommend this Bank to anyone. I made a deposit and they said it was a withdrawal and took a withdrawal fee and then said they couldn't see where the deposit was made. But my Cap 1 transactions shows a deposit and where they returned it after I called them about the overdraft. Then the customer service rep has a crap attitude and sounds like she needs to go back to bed wake up again and start over. How do you argue with someone when you are in the wrong? They won't handle ...

Novo is Terrible

I recently began a new startup with my partner and tried to open a simply checking account with Novo. Let me just say I am extremely disappointed with this bank and would never recommend them to anyone. I was using this new company as a way of testing the waters before I move 1 or 2 of my other companies over. I dealing with them for only a few days I can state that I absolutely will NEVER work with Novo in the future.

Have had numerous issues with this bank…

Have had numerous issues with this bank since we moved over from Azlo. There is no daily balance shown. They will sometimes decline payments we make based on the daily balance that we can't see, but then do not notify us. So we don't find out until we have late fees and a bad rep from vendors. This month was the final straw. The most basic tie out for a bank statement (beginning + in - out = final) is quite literally wrong. Never in over 30 years of working with banks have I seen this ...

USE THEM AS A LAST RESORT ONLY!!!!

USE THEM AS A LAST RESORT ONLY!!!! Has to be one of the worst banking experiences I’ve ever had!!! They hold your direct deposits and DON’T allow them to post right away like other financial institutions. If you’ve got absolutely no other choice I understand. USE THEM AS A LAST RESORT ONLY!!!!

Where can we join the class action…

WARNING!!!! Do not bank with Bank Novo and Middlesex Federal Savings, F.A.? They closed our account without a warning. This happened in August 2021. You can only communicate with them through the app and when they close your account you cannot log in to communicate with them. When you email the email always says login and you can't. They stole $550 of our money. The tech support said they would mail us a check and never did.

Novo is so supportive of my business

Novo is so supportive of my business! They fulfill my requests for help and information quickly and connect on social media.

You have a successful run until you…

You have a successful run until you don’t. Just got unauthorized charges on our account, and it’s highly suspicious. It was an ATM card which has never been used anywhere, so there was no ability for anyone to get the number. So the only place this could have come from was their system. So yes, UNAUTHORIZED TRANSACTIONS ARE COMING FROM THEIR END. And now we have to jump through hoops to get our money back. We’re a small business just starting out so losing our money because a bank is not ...