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

Was told i had to wait 20 business for…

Was told i had to wait 20 business for a check because they closed the account while i was transferring money out it. Its been over 20 business days, now no one will respond to my emails and i still dont have my money. Once again they get on here say they will help but wont do anything.

Excellent Response

My customer service representative helped me quickly, and ensured my need was addressed.

What bank doesn’t want your money?

What bank doesn’t want your money?? This one. It’s garbage.

Mixed Feelings ....

I opened an account because my banking consists only of making check deposits, writing checks and using my debit card. Mixed feelings after using NOVO for a while. On the surface the app interface is as it should be in 2021, easy and intuitive to use. But then ... it is obvious that their entire model is based on holding funds as long as legally (?) possible. Whereas in my branch bank a check deposit clears and funds become available overnight (up to 7PM deposit time), NOVO takes full 3 ...

Consistently quick and effective…

Consistently quick and effective customer service. I've contacted them on a couple of occasions with requests to change default limits for deposits, transfers, etc. and it has always been a good experience.

Horrible experience and would never use…

Horrible experience and would never use this bank! 1. I sent a wire transfer and it never made the destination. 2. I have contacted Novo 5 or more times via email and through the App. 3. They keep closing the request with no resolve and no response. This is completely unacceptable from a banking service. I will report them to the Feds for mishandling of funds! Do not sign up with this bank, it's an awful experience!

Great bank for start ups

Great bank for start ups. They offer free checks to pay employees/ your invoices, great service, easy set up and great interface.

Love Novo!!!

Novo has an easy to use app. You can do everything from your phone. It is easy to transfer funds in and out of the account. The app integrates with Quickbooks and many other businesses management tools. They also let you create reserves of money within the account for taxes, travel expenses, or anything else you need to save for. I highly recommend Novo!!!

Novo is an excellent choice for business banking as well as PPP loans

The entire PPP loan process with Novo was quick and painless. They made the application phase easy as well as the follow-up and loan forgiveness process. I am so happy that I chose Novo for my business banking as well as PPP loan.

Reported to Federal Reserve

I am sad to say that I have been forced to report Novo to the Federal Reserve. I had 2 fraudulent charges to my account in April. I reported them and heard nothing for months. When I contacted the bank, they told me they have 120 days to investigate and there was nothing they could do until that time passed. Over 120 days went by and still I heard nothing. I contacted the bank again and was told they would check with the dispute department and get back to me. Another week went by and still ...