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

It pays to read reviews before you…

It pays to read reviews before you commit yourself to any financial organization. I applied for Novo bank in February or January for my business and since then my account was compromised twice! because my account was compromised the second time which was beyond my control, not only did they freeze my account after I provided information by proving who I was they are withholding money in my account and not releasing it. Not to mention I have over $25,000 pending deposit to come in and they ...

THE GOOD REVIEWS ARE PAID REVIEWS… GO…

THE GOOD REVIEWS ARE PAID REVIEWS… GO ON BBB WEBSITE AND YOU WILL SEE THE REAL DEAL ABOUT THIS COMPANY!!!!!! THEY FREEZE YOUR FUNDS AND DONT GIVE YOU AN ANSWER THEY STILL HAVE MY MONEY FROZEN IN MY ACCOUNT AND I CANT GET ANY ACCESS TO IT…… PLEASE DO NOT BANK WITH THESE PEOPLE…. SOON THEY WILL BE SHUT DOWN DUE TO A CLASS ACTION LAWSUIT.

Great bank

Great bank and customer service!!

Totally incompetent customer service

Totally incompetent customer service. A technical glitch on their end caused my account to go negative. Their explanation was a double check deposit. What does that even mean? I asked and got a copy and paste statement of their check holding policies. When I asked to speak to a manager, there are NO managers to speak to. Referred to chat, which is not acceptable. I was told my account would be corrected and it still isn’t. They are holding $600 of my money with no explanation. As soon as my ...

DO NOT USE! THEY WILL CLOSE YOUR ACCOUNT FOR NO REASON!

Closed both of my accounts WITH NO NOTICE. I asked why? They said "This account will remain permanently closed. We are unable to provide specific details about why your account was closed by our Accounts Team."

Have you seen this 🙏

Date of experience: March 17, 2024

Very disappointing experience

Very disappointing experience. Customer service is offered only through the company's app, which is very unclear. Attempted to deposit a payment check to my company and had it refused; Novo claimed it had been "manipulated or altered," which it clearly has not. Deposits are limited to $20,000, which might not be a problem for many small businesses but is for mine. I need to shut this pointless exercise down.

terrible company

terrible company, I’ve been writing to you for more than 15 days about the return of a fraudulent payment and you still don’t take action, take a long time to respond to messages, ignore me, I’m outraged by this service I ask one of the representatives of this company to contact me More than 40 days have passed and the problem is still not resolved, the company does not take action and ignores me They also don't have a contact phone number. I do not recommend this company until the problem ...

Closed my account out of nowhere

Closed my account out of nowhere, claiming "it is under review with no expectancy date of reinstatement" the funds that were in the account are shown as withdrawn, but to who and where only God knows.. when i inquired as to whats going on and where is my money, the Indian agent claimed he cannot provide me with any additional information and that he is not allowed to speak of the funds for security reasons, reading back on the reviews here i am guessing the money is gone. Happy it was just ...

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 ...