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

ACH transactions

ACH transactions, should be completed the next day, if sent by a certain time. 2 to 3 days is too long for a business account.

Bad customer support, low payment limits

Silly that I need to ask for "permission" every single time I want to make a payment over $20k. Also does not support wire transfers. Would be nothing more than a minor nuisance if their customer support was more responsive. Usually takes 8 hours, complete waste of time.

Closed account with no notice or details

I opened a business account with Novo a month and a half ago. I have transferred funds in and out, paid multiple vendors, etc. Received a notice after bank closing today that my account was reviewed (by whomever) and it's being closed immediately. All money in the account will be paid out via check. Absolutely horrendous customer service. Account holders should have some heads-up or means to rectify any audit or underwriting issues that arise. This is the worst customer service I have ever ...

Closed account with no notice or details

I opened a business account with Novo a month and a half ago. I have transferred funds in and out, paid multiple vendors, etc. Received a notice after bank closing today that my account was reviewed (by whomever) and it's being closed immediately. All money in the account will be paid out via check. Absolutely horrendous customer service. Account holders should have some heads-up or means to rectify any audit or underwriting issues that arise. This is the worst customer service I have ever ...

NOVO is a joke

NOVO is a joke. First of all I opened an account for my business and I was never able to activate my debit card. I called several times told they would reset it so I could activate it. Nothing. Also, they never answer the phone and they have a ton of restrictions of deposit amounts etc. It's really ludicrous. They are NOT a bank, they're joke. I am glad I stayed with Chase and Bank of America even though they charge monthly fees, at least they work.

Uneducated Employees

Complete 1diots! I went to change the name of my business with Novo and they said I didn't have the write documentation. I am a business law attorney...I think I know how these things work.

Bad customer support, low payment limits

Silly that I need to ask for "permission" every single time I want to make a payment over $20k. Also does not support wire transfers. Would be nothing more than a minor nuisance if their customer support was more responsive. Usually takes 8 hours, complete waste of time.

No customer service update

No customer service! It is absolutely impossible to get in touch with a real person when I started my account it started off good once I started depositing money into my account it went horribly wrong haven’t been able to get in touch with anyone to access my money for about five days now absolutely ridiculous!

I love this bank account so far!

I love this bank account so far!! It's super easy to use and track your payments and fund. Its taking a long time to get my debit card so that's a bit daunting but it helps me to learn the account before I start really playing in it!!!

EVERYTHING is Online - What a concept!!

We started our first small business (digital marketing) in 2013 and unfortunately, "online" banks were not an option back then. So, like everyone else we started a traditional business bank account. Everything had to be done in person and we (purposely) live in the middle of nowhere, which means it is always a hassle to have to travel 40 minutes just to do banking! Fast forward to 2021 and we started another new LLC and did not want the hassle of traveling to a location to start the ...