Account (US)
Novo Business Checking Account full review
Check out the Novo Business Checking Account review and learn how it could be a valuable tool to help you manage your business.
Novo Business Checking Account: free digital banking
Novo Business Checking Account gathers fantastic features for free. Also, Novo is a financial technology company with banking services provided by Middlesex Federal Savings, an FDIC Member.
It has been awarded in 2022 Forbes Fintech 50 and attends more than 175,000 small businesses.
How to apply for a Novo Business Checking Account?
Novo Business Checking Account is digital and free. Check out the full review!
Novo’s simple and free services allow small businesses to grow and be assisted while doing it. Keep reading to learn how it works and the advantages of opening an account.
How does the Novo Business Checking Account work?
Novo offers a free digital checking account that you can manage right in the palm of your hand.
Also, it can be connected to your tools so you can get paid, send invoices, and much more. Among these tools, Novo allows connection to Square, Paypal, and Stripe. You are able to find out several apps integrated with Novo in the Novo App Marketplace.
You can also link the account with other bank accounts to transfer funds for free with no minimum deposit required. Deposit of checks is unlimited and free of charge, too.
It accepts ACH and checks payments, as well.
Plus, it allows you to send unlimited invoices for free. And they can be personalized.
Besides all that, Novo allows international transfers via Wise or U.S. transactions without fees.
Moreover, Novo checking account offers multiple sub-accounts called Reserves, which make it easier to set aside funds for other business expenses, including profit, payroll, and taxes.
In addition, you get a Mastercard debit card and a virtual version of it, so you can use it while waiting for the physical one to arrive. It is worldwide accepted, and it is integrated with Apple Pay and Google Pay.
Applying for this digital bank is easy and fast and accepts many industries, including Health & Beauty, Professional Services, Retail & Commerce, Food & Beverage, and more.
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Novo Business Checking Account benefits
Firstly, Novo is digital and free. Also, it allows connection with many apps so you can manage your business in one place, right in the palm of your hand.
It doesn’t require minimums, and the application is easy and fast.
Pros
- Novo offers digital accessibility and several features and integrations so you can manage your business and finances in one place, anywhere at any time;
- It offers a Mastercard debit card integrated with payment apps;
- It provides a Marketplace of apps so you can integrate your account with them;
- It doesn’t require minimums, and it doesn’t charge any fees;
- You can create, personalize, and send invoices;
- Transactions are unlimited in or out of the U.S.
Cons
- It is a digital financial technology company so you won’t find physical branches.
How good does your credit score need to be?
Novo considers all credit scores in the application process. Also, it doesn’t check or affect your credit when you are opening an account.
How to apply for a Novo Business Checking Account?
If you are interested in opening a Novo Business Checking account, take a look at the next post to find out how to do it!
How to apply for a Novo Business Checking Account?
Novo Business Checking Account is digital and free. Check out the full review!
Aline Augusto
Aline Barbosa
Senior Editor
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