Novo Reviews 

Novo takes no responsibility for its systems working but they try to sell a lot of useless stuff. For about 3 months, novo would not allow me to access my account. Actually, it was more time than that, but I sorted out a go-around that worked until a few months ago. THEY will say that I didn't receive SMS messages because they didn't have the correct phone number. That is bogus as I used it for some time before they started screwing up. AND every other financial institution has been able to use the number for SMS purposes all this time. AND I updated the number a few times to humor them when I first had the problem, maybe a year ago now. To shut them up and hopefully get access to my money and invoicing, etc, I gave them my Google Voice number which is NOT something I consider SECURE. But it worked, which surprised me because other financial institutions have not allowed the use of a Google Voice number. Then, when I finally got access, I moved the remaining funds I had from sub-accounts to the main account to withdraw it. Next thing I knew, that over $600 had disappeared from my account. For the past couple of weeks I have tried to get support to find out what happened. ZIPPO. Per usual I got the automatic, 'how did we do?' email but no actual response. Today I got a 'we haven't heard from you since we solved your problem so hope everything is OK.' WTF? What about my repeated queries about the $600+ that is missing? Jokers in support. This was just the final straw. When I referred a colleague a couple of years ago, after novo pestered me to make referrals, and they treated her like crap. What a bozo organization. I am preparing consumer complaint documents through my state banking and insurance commission at this point.

day 15 of no access. i had my account hacked july 3rd immediately reached out ( can only do so eith trouble tickets ugh) on july 5th after doing the pandaform to verify my identity and being assured everything was ok and they finally unlocked my account/ within five min it was locked again. and they arent sure why just say that if anything is needed they will reach out. however nobody has. i needed to pay for my dads funeral and have yet to be able to therefore they are not giving me his ashes due to novo holding MY MONEY that i verified id on FROM ME. i filed compalaints with consumer board. but still my dads ashes are being held cuz novo wants to play robber and theives with my money

My thing is, how can a financial institution dealing with people’s business finances not have phone lines to call in for support? They got rid of the phone lines and only gives email support. That doesn’t even make sense. On top of that, they only have 1 single way of verifying your identity via email support using a stupid PandaDoc form. It has to be exact, & no human intervention to fix it. Meaning, if something changes about your business, the form won’t be able to verify your identity, now you’re stuck with no other way to verify your identity and you won’t be able to get any issue resolved via email support using them. I’d recommend not using Novo at all and go to Bluevine, Relay, Mercury, or Lili for your business banking needs instead. I would not advise banking with a financial institution where you can’t get someone on the phone, especially these stupid fintech banks, makes it even worse.

banking in a modern way

I wanted to like this bank/ app so badly, but I just can't. The checks take FOREVER to clear, which is a huge issue when we need to pay subcontractors or pay for materials for a job with deposit monies - that is exactly why we collect a customer deposit in the first place.

Then there is the lack of notice when a check deposit is unsuccessful (despite the app making you think the check was deposited). It seems I've only had issues with Novo since opening the account.

There is hardly any customer service aside from submitting a ticket and sending an email. They only have online help M-F 9a-6p, which depending on your specific business hours may or may not work for you. For me it doesn't work well since I show up at the jobsite at 7am and rarely make it back home before 6pm. Having a service line for customers to call for a quick answer to a question would be more helpful.

I decided to open an account because I am moving our existing business to a new state and didn't want the hassle of having to create a new bank account once we establish in our new location. At this point, I just can't wait to close this account and move on entirely.

The "reserves" is the only plus to using Novo, that was helpful in keeping money separated for different uses.

The application process was mostly easy, unless you have a DBA, then it became yet another headache. I added the DBA and relevant docs as soon as I opened the account and after 2 weeks (and one failed attempt at depositing a check for a job, which then delayed the project start date) there was still no movement on updating the account.

Overall, truly a terrible experience. I will continue the search for a better banking solution.

Wow, the ease of opening the account to the integrated aspects of maintaining my books to the building of business credit has me floored with excitement! I recommend novo to all of my clients!

Novo user friendly application makes the banking process a smooth process to navigate.

Smooth process setting up the account.

It would be great to have step by step guidance for setting up a new account.

Had a terrific customer service experience with Jelian V. Was very helpful and had great communication.

This is the slowest bank I’ve ever had. Money takes so long to get in and out! Not good for all business if you need money fast. The features and connectivity is great but practically it’s very difficult.

Very Straight Forward process!
Easy site to use and steps were seemless. No issues found at all. Loved this experience!

Novo is perfect for new businesses you can track and send invoices it's super easy to navigate it has reports and you can link it to payroll services and accounting software... I love it most importantly it's free!

There is no way to connect Zelle to the account. Transferring money from the account isn't easy. I really enjoy the reserves.

The signup was seamless. I hope as I continue to use the services, my experience remains the same.

Setting up an account was quick, and the verification process was complete after a day. It only took another day to get funds transferred into my account and a virtual card set up to use for purchases. All in all, it was easy and quick!

Very helpful costumer service

Very easy to apply for account. Thank You

Novo has been a great alternative to my previous banking option which required a higher daily balance than I was able to support with my small business.

I am brand new customer. The set up was super fast and easy peasy. I was attempting to get set up with a competitor, but they ghosted me and did nothing. After no return calls or messages, I stopped all services.