Read our Novo review to learn more about its main features, pricing plans, integrations, and more.
What is Novo?
Novo is primarily a business banking platform that allows users to create business checking accounts in a safe and secured manner. The platform provides a range of easy-to-use tools which ensure small businesses are ready to take on the challenges within the digital financial world.
The company consistently adds new features and products in line with the evolving user demands and feedback. The platform is an excellent choice for digital banking and can also be integrated with numerous business tools.
Novo offers an unlimited refund for ATM charges and is a perfect match for small businesses who want a free business checking account without any minimum balance requirements.
Besides, the platform comes with a native integrated invoicing feature along with excellent direct integration options with other leading business solutions.
All in all, with Novo, users can streamline their financial processes and also manage various accounts in one place.
- Company: Novo Platform Inc.
- Website: https://banknovo.com/
- Founded in 2016
- Country of origin: United States of America
Novo Key Features
Create an Account in Minutes
Creating an account just got simpler. Users can skip the long queues in the banks and set up an account on their desired device in just a few minutes.
With this feature, you can create and send invoices, track them, and ensure you are paid according to the terms and conditions defined by you.
Users can accept credit or debit card payments via Stripe and also get an email confirmation when a specific invoice is paid by card.
The platform comes with a feature called Nove Reserves. This feature enables users to keep aside funds for payroll, taxes, profit, and large expenses.
Users can link their other bank accounts to facilitate a smooth transfer of funds from one account to another.
The remote check deposit feature enables users to deposit unlimited checks from their devices free of charge. Users can simply click a photo of the check and deposit the same in a matter of seconds.
Users can make payments within the U.S. and internationally with Novo.
Novo Feature Overview
- Account management
- Account creation
- Invoice tracking
- Invoice delivery
- Invoice payments
- Financial planning
- Money transfer
- Deposit tracking
- Payment management
- International payments
- Financial planning
Novo Pros and Cons
- The platform is very easy to use
- Integrations with leading platforms such as Stripe and QuickBooks
- Quicker payments processing in comparison with other alternatives
- Unlimited refund for ATM charges and no minimum balance requirement
- Neat and tidy user interface
- Excellent customer service and smooth onboarding process
- Expense tracking is very straightforward
- Some users have experienced difficulties while connecting their account with PayPal
- Novo does not show when users search for banks. This is why users have to enter their account information manually.
- Some users have reported that Novo does not recognize checks issued by the State of California
- Users have reported that the platform puts a cap on the daily spending limit of users
- No cash deposits
Free Trial – No
Free Version – Yes
- Cloud, SaaS, web
- Small businesses
Novo pricing plans
- Knowledge base
- Phone support
- Radius Bank
- Axos Bank
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