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

Great customer service!

Date of experience: November 27, 2023

Novo is committed to small business

Novo allows me the flexibility to do business my way as an Artist. Appreciate all their features and commitment to small business.

I have been with NOVO for almost 3…

I have been with NOVO for almost 3 years now. It's the ease of transactions and the convenience of a mobile app.

Novo is Great for a few months then leave.

If you’re a new business looking for your first banking accounts, novo is not a bad choice but their transparencies are not 100% visible. Once the honeymoon phase is over (first three months ish), Novo demonstrated poor business ethics and often seemed illegal. On several occasions they blamed network issues for delayed transactions to be cleared. I’ve had over 1000 instant transfers from PayPal or Venmo, never has an instant transfer needed to take 8 days. Pending transactions with ...

I would not recommend Novo as a…

I would not recommend Novo as a business checking account. Because Novo is a front for a bank it lacks functionality that other banks have. It takes longer to move money. There are fees for things that other banks do not charge. Overall, we've had too many problems with the company to recommend it to others. While the biggest banks like Chase are terrible options for small businesses, in our experience, this particular option is not a good alternative. Looking for a new option to switch.

I am in the process of leaving NOVO

I am in the process of leaving NOVO. I am tired of having the "fraud ninja" freeze my card every time I attempt to visit more than 1 store. I understand that fraud is rampant right now, however when I am trying to pay with a mile long line behind me and my debit card gets flagged, it is really upsetting. Also there hold times for check deposits is unreasonable. I have been depositing a check every month, same amount, for the last year from a client and every time the hold is 5 days.

I am in the process of leaving NOVO

I am in the process of leaving NOVO. I am tired of having the "fraud ninja" freeze my card every time I attempt to visit more than 1 store. I understand that fraud is rampant right now, however when I am trying to pay with a mile long line behind me and my debit card gets flagged, it is really upsetting. Also there hold times for check deposits is unreasonable. I have been depositing a check every month, same amount, for the last year from a client and every time the hold is 5 days.

Novo is a great tool for small and new…

Novo is a great tool for small and new businesses. It was recommended by a friend and I was happy to use the suggestion!

Novo supports new business

Novo supports new business Been very happy with my Novo service.

Novo is BAD for small businesses

Novo has some appealing features for a new small business owner, but their anti-fraud rules are simply too rigid to ensure a reasonable customer experience. Every month I have to request a new temporary expansion of my deposit limit with no apparent way to earn a permanently higher limit. I feel like every transaction on my account with Novo has some sort of issue or hassle. Most recently, a check I deposited several weeks ago (from a client whose checks have cleared repeatedly in the past) ...