Novo Bank Logo
Loading TrustPilot


Powerfully Simple Business Banking
Built for small business owners, entrepreneurs, and freelancers. No hidden fees, no hassle.


Novo is a banking platform that provides business banking to freelancers, startup founders, and small business owners in the U.S. with the mission of helping small businesses succeed.

They offer FDIC-insured free business checking accounts with no minimum balance requirements through their bank partner Middlesex Federal Savings. 

To help small business owners manage finances efficiently, Novo integrates with other apps, like Transferwise, Slack, Xero, Stripe, or Shopify, and gives you access to other financial perks, like Google Cloud discounts storage or business trips booked in

Business Banking Platform: What You Get

With Novo, you can easily manage your business finances wherever you are using a mobile app and connect the tools you already use. The features you get when you bank with Novo are:

  • Free Business Checking Account: The Novo business checking account is FDIC insured by their bank partner Middlesex Federal Savings. It has no minimum balance requirements nor monthly fees.
  • Easy Transfers: You will get free ACH transfers, mailed checks, and incoming wires, so you don’t have to worry about hidden fees.
  • ATM refunds: Get all ATM fees refunded.
  • Online Banking with Mobile App: Manage your finances where ever you are with the mobile app connected with your online banking.
  • Business Tools Integration: Connect your Novo to other business apps you already use, like Shopify or Stripe.
  • Exclusive Perks: Save money when using one Novos’ partners, like a discount for Quickbooks or free credits to advertise your business in Google.

How to Bank with Novo

Applying for a Novo account takes a few minutes. You can fill the application form online, even from your mobile phone. 

When you apply, you will have to provide some personal information and information related to your business. The Novo team will then review and contact you if they need any more information. 

You can get started in three simple steps:

  1. Provide personal information
  2. Provide information about your business
  3. Get started with your Novo account

Reviews 99



First Down Funding offers small business lending to fund your business. Apply online and get a small business loan in 48 hours.
Loading TrustPilot
Lendio is a small business loan online marketplace. Access a nationwide network of lenders with one simple application at no cost for you.
Loading TrustPilot
Billd is a payment solution that allows construction contractors to offer 120-day terms to pay for materials and suppliers to sell more.

Products and Services

Why Us

Free Checking Account

Get a free checking account with no monthly fees and free transfers and incoming wires.

FDIC-insured Funds

Deposits are insured up to $250,000 through Middlesex Federal Savings, partner bank, a member FDIC.

Online Banking

Manage finances using a mobile app and connect other apps you already use.


Easy Business Banking

Get your Novo account in a few minutes applying online.

Related Articles

Read how to make things easier on yourself to meet certain compliance standards for your financial institution or organization.
Read more
Review savings accounts for businesses, the savings account for businesses that are free, and the different interest rates available.
Read more
Find out what types of savings accounts for businesses are available and which one may be the best for your business needs.
Read more

More Like This

Connect with Us

Latest News

Read how to make things easier on yourself to meet certain compliance standards for your financial institution or organization.
Read more

This page’s information results from independent research by our editorial team, who does their best to reflect factual and accurate information about the financial institution and its products. Financial institutions are not responsible for the content posted on; visit the financial institutions’ website or contact it directly if you have any questions.

If you work for this financial institution and want to adjust any information, contact us at