Novo Reviews 

I was not able to deposit my check due to the amount it was . I’m not able to be approved for the business loan I’m not sure why they haven’t approved me . No one knows the answer . But I do enjoy doing my invoice and receiving payment I like novo

Been using Novo for over a year and it's been a great experience so far. Also, I love their app, it's user friendly. Highly recommend.

Fast business account setup, convenient interface, and good customer service.

Easy to navigate the site and 24hrs customer support. I simply love it!

After the initial “proof of business ownership” red tape, the banking app has given me exactly what I need for my small business.

Great bank, excellent customer service

with the time difference from where i am in Hawaii to where you are located messes up my invoices, i need my invoices to be paid due on receipt. but when i send it to my customer it automatically puts it as over due in big red letters, this looks quite agressive and unprofessional, also the email send to the customer is a link to download the invoice, my customer does'nt like opening links and only requires a pdf.

Been a great account to keep. track of everything. Easy to use and think once more features are added it would be even better

Great features for FREE! Love the reserve feature.

**⭐ 1 Star**

My experience with Novo has been extremely frustrating.

Without any prior notice or explanation, payments and funds being sent to my Novo account suddenly started getting returned. At the same time, I was also unable to debit funds from my account, leaving me without access to my own money. There was no notification, no email, and no indication that there was any issue with my account.

Only after I contacted customer support was I informed that my account had been frozen and was under review. Even then, they refused to provide any details about why this happened or how long it would take to resolve. The only response I received was that they could not discuss the specifics of the review and could not provide an estimated timeline.

As a business owner, having incoming funds returned and being unable to access your own funds without any warning can severely disrupt cash flow, damage customer relationships, and interfere with daily business operations. If an account review is necessary, customers deserve timely communication, a clear explanation, and regular updates.

The lack of transparency, communication, and accountability has made this one of the most disappointing banking experiences I've had. I would strongly caution other business owners to consider how their operations could be affected if they suddenly lose access to their account without notice.

There was a freeze placed on my account with no explanation and it has been days now with no update. I have contractor payments overdue and invoices incoming that are frozen.

Easy to use, So far I love this Bank.

Straight forward and easy to use and set up. I had a little struggle with the physical address verification, but eventually got it sorted. it just took an extra few days to complete.

Really easy to set up and connect to my bank accounts. Love the interface, very intuitive and easy to use.

For me its access

Onboarding was fast and easygoing

Novo abruptly froze and closed my business bank account while continuing to hold approximately $150,000 belonging to my company.

The funds were a legitimate payment from a Fortune 500 client toward a valid business invoice. Shortly after the deposit, Novo restricted my account and blocked access to the money. The account was later closed without notice, explanation, or opportunity to resolve the issue.

Novo has now withheld these funds for approximately five months. During that time, I have received no clear explanation, no reliable timeline for repayment, and no meaningful assistance from an actual human representative.

This account was used for payroll, vendor payments, operating expenses, receivables, and daily cash-flow management. Novo’s actions caused severe and unnecessary disruption to my business and placed my company at significant financial and operational risk.

I repeatedly contacted Novo for help but received only automated replies and customer-service surveys. Novo even sent a message suggesting that the issue had been resolved, despite my repeated inquiries concerning the missing $150,000. The matter remains unresolved, and my funds have not been returned.

Online reviews describe similar complaints involving frozen accounts, unexplained closures, withheld funds, and unresponsive customer support. Had I known of these reported practices, I would never have deposited substantial business funds with Novo.

Novo’s conduct is far more serious than a customer-service failure. A financial company should not be permitted to block access to six figures in legitimate business funds for months while refusing to provide a meaningful explanation or resolution.

Because Novo has failed to resolve this matter, I am preparing complaints for submission to state and federal financial regulators and reserve all legal rights and remedies.

I request that Novo provides an immediate substantive response and return my company’s funds without further delay.

Edited to add: Another BS bot reply from Novo!! I have already called and emailed Novo probably 40 or 50 times since early this year, with nothing but their automatic replies, and NO access to my own money since they have closed my account!!

User experience. Novo has proved time and time again it is NOT the best bank for business operations. Things such as transferring or wiring money is usually the issue. Taking money in is never an issue. Always getting access to my funds. Without a brick and mortar building any parameters needed should be put in Place first, so when funds need to be moved they can. If not, how can a business conduct business?

Very easy to start using from the first moment. that is refreshing when work it all we work on.

Quick response time.