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

Poor service…

Failed to respond effectively to their inability to accept a wire transfer. Took days of me following up!!! No response to my note to the CEO

I have not been able to use my novo…

I have not been able to use my novo account. I was wanting to try and establish it again i have tried to chdnge my password. Says reset and the the page says it timed iut. How I just got to it. It is awful that so many have abused the system no onecan use it. I like novo and I tell my friends.

I had wanted a solution for starting up…

I had wanted a solution for starting up my small business and Novo had everything I needed and then some. Invoice, ACH transfers, integration with other platforms like Square and Quickbooks.

Zero trust in this company

I wish I would have read more about Novo before creating my first business account with them. Customer service is nearly non-existent. There is no phone number, only messaging which will send a generic response and close the ticket. Once the ticket is closed, you cannot respond. It takes over a week to see answers to simple questions. Once the final credit shows in my account, i'm moving my money out...I've been waiting a month for it to be reconciled. Zero trust in this company.

Novo is great for no non-sense small…

Novo is great for no non-sense small business banking, which was exactly what I needed.

Simple to use banking

Simple to use banking. Everything is at my fingertips without distractions and hard-to-read information. Clear-cut and ready to use.

Disappointing.

I think my favorite thing about this app (which is not an actual bank, so please understand that going in) is how I can allocate funds into reserves. Other than that, I’m overall just really disappointed. Since it’s not a bank, it doesn’t generate any interest. I could move my money to an actual bank and actually be making a little money by keeping it there. They brag about how awesome their app is, but you can’t even access your own routing number and account number. (Their FAQ says you ...

FRUSTRATED

Can't access the mobile app because i don't have email on my phone to identify my device a security code should suffice, this is bloody ridiculous plus trying to get a response back from support is nuts.

Really easy to set up

Really easy to set up. Works as intended most of the time with no disruption to business related activities. One minor issue I've had over the year using Novo is understanding how deposited checks using the mobile app reflect in analytics. Between the pending time and cleared time, the amount deposited gets moved to the reserves. This only impacts my ability to know which month the amount is credited if deposited near the end of a month.

Great Online Business Bank!

My favorite for online business banking so far. The only knock I have against them is low limits, as we expect to make a high volume of payments in the future to our 1099 contractors.