Novo Reviews 

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.

Transactions have gone very slow so far. I know it's a holiday weekend, but 3 days in this technology age is a long time for money transfer. This caused me to look more into the company and I have seen a lot of negative feedback and issues that have me worried.