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Novo Review

Novo business banking has some attractive features designed to appeal to small business owners who are comfortable operating in a fully digital environment.

    Kate Hoots
  • 1 comment
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

Novo At A Glance

  • FDIC-insured online checking account
  • Aimed at small businesses
  • $50 opening deposit

Kate Hoots

Kate Hoots

Expert Analyst & Reviewer at Merchant Maverick
An expert in business banking, consumer finance, and online payments, Kate Hoots has been writing about small business commerce since 2020. A former journalist for the West Linn Tidings and the Wilsonville Spokesman, Kate boasts wide experience in business leadership and communication. She has a degree in English Literature from Lewis & Clark College.
Kate Hoots
View Kate Hoots's professional experience on LinkedIn.



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1 Comment

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Jerry S

    Organization Name: Panoptic Medical

    As an owner of multiple businesses I was excited to find an online platform bank who was attempting to fill the space of a mobile small business. My expereince with Novo bank was anything but positive. It may work for someone who doesn’t ever need to speak with a real person. I ran into an issue during setup that could have been fixed with a simple 5 minute phone call with an onboarding specialist who understands business. I was assigned an individual who was porported to be such a person, but when I reached out to them I was informed that phone calls with an actual person are not possible. The only option is to text back and forth with an FAQ bot. If they can’t allow clients to speak with a real person while securing their business I couldn’t imagine what the experience would be like if an issue ever arose. I will work with a local credit union that waves out of network atm fees and allows for picture deposits of checks. At least if I have an issue I can go speak with someone and a real person answers the phone.

    1
    • Organization Name: Panoptic Medical

    This comment refers to an earlier version of this review and may be outdated.

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Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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