Novo Reviews in July 2025: User Ratings, Pros & Cons

Unsettling Experience: Novo Bank's Response to Unauthorized Transactions

I recently encountered a troubling series of unauthorized withdrawals from my Novo Bank account, and the process of resolving these issues has left me thoroughly frustrated. Upon discovering the unauthorized transactions, I reached out to Novo Bank, only to be informed that they couldn't refund the money after 48 hours. They redirected me to contact PayPal, but after doing so, PayPal confirmed that there was no account associated with the withdrawals. Novo Bank allowed me to file disputes ...

I received a request to open a business…

I received a request to open a business account and I did, as a tax preparer, I thought it would be a good idea to use my novo business account, which I did. However, after a few days of the account being used fro business, they closed it. Worst company ever

Buggy when it matters most.

Unfortunately I’m probably going to figure out a new business banking solution. Super easy to set up and the feature set is good. There haven’t been many bugs but the ones I’ve had have all been important: 1. Bank goes offline for hours without so much as a message about it. 2. I send a client an invoice. Client clicks on the download pdf and gets an error. Asks me for a pdf and I get the same error. 3. Scheduled invoices did not send. Customer service is lackluster at best.

Horrible for depositing checks! Avoid!

Horrible. Issues with every check deposit. Never had ANY with Chase. Multiple checks rejected. One with no reason. One saying it looked altered. And they make you write "at Novo" on back which ruins trying to deposit at a legit, well functioning, professional bank like Chase. Trying Amex business checking now...

Novo got us hacked $8000 gone no help

Novo allowed our account to be hacked!!! Do not use Novo. More than $8000 was stolen from our business account. We reported this to Novo and no one from the fraud department or anywhere else has contacted us back to resolve the issue nor have we been offered the protected amount of $250,000 that our money will be protected, was not protected at all, this bank is the worst. Novo’s agent is responsible for the hack. They allowed our business email address to be changed by a hacker and allowed ...

Don’t you dare take any loan from NOVO Bank…

Don’t you dare take any loan from this company. They claim interest rate is 3% every month but it increaseses by multiples if 3 every month. By end of 6th month you will be paying 18% but they don’t tell you that. Unless you pay your full loan in one month which beats the logic, you are in for it. A bunch of greedy thieves. Don’t even sign up with their lame business bank!!

User experience and support has far exceeded my expecations.

My user experience and the level of platform stability and customer support Novo has continued to provide have far exceeded my expectations.

Poor support and no wires

A decent basic free business bank, but have regular issues with vendors being flagged as fraud (declined transactions) and then extremely poor support time to resolve these issues. Also no domestic wires which most other fintech banks still allow.

They canceled my account as im waiting for payment.

They canceled my account without any warning. Was expecting a big payment and Now boom account gone. Even those they send multiple emails a week they didn’t communicate anything to me. Now they want me to click and fill out links from outside their company which makes me think they’ve been hacked and/or comprised.

Love digital banking

Love digital banking I keep now all my business accounts digitally. Novo is wonderful. My husband also has his business account with Novo. We're a Novo family. Highly recommend