Novo

Name: Novo
Brand: Novo
Rating: 3.5 (11 reviews)

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Smarter online business banking solutions for small businesses and self-employed entrepreneurs.

Finance Invoicing Expense Management

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3.5(11 across the web)

FreemiumVisit Website

Reviews onG2

11 reviews tracked

The Bottom Line

Entry price

Free plan available, paid tiers above

Biggest pro

Business banking for small businesses

Biggest con

Limited to US businesses

TL;DR - Novo

Offers a free online business checking account with no hidden fees.
Provides tools for invoicing, budgeting, expense management, and integrates with popular business apps.
Designed for small businesses, freelancers, and self-employed individuals to simplify financial operations.

Pricing: Free plan available

Best for: Growing teams

3.5/5 across review platforms

What is Novo?

Editorial review

Novo offers a flexible and forward-thinking online business banking platform designed to help small businesses, freelancers, and self-employed individuals manage their finances efficiently. It provides a free checking account with features like easy invoicing, intuitive budgeting, real-time insights, and hassle-free funding options. The platform aims to simplify financial operations by allowing users to create custom, branded invoices with automatic reminders, set up automatic allocations for payroll and taxes, and categorize expenses with AI-powered spreadsheets. Novo also emphasizes seamless integration with popular business tools such as QuickBooks, Stripe, Gusto, and Square, consolidating financial management in one place. Novo is built to support business growth by providing access to flexible funding, educational resources, and a community of like-minded business owners. It prioritizes security with FDIC insurance for deposits up to $250,000, bank-level encryption, and real-time fraud alerts, ensuring that users' financial data is safe.

Available on: Web, iOS, Android

LCLouis CorneloupUpdated May 26, 2026 · how we evaluateSourcenovo.co ↗

Pros & Cons

Pros

Business banking for small businesses
No hidden fees approach
Integrates with business tools
Easy account setup
Mobile-first banking

Cons

Limited to US businesses
No physical branch locations
Feature set still evolving
Deposit and transfer limits
May not suit all business needs

Ratings Across the Web

3.5(11 reviews)

G211 reviews

3.5/5

Ratings aggregated from independent review platforms. Learn more

Key Features

Business bankingFree checkingInvoicingReserve accountsIntegrationsNo minimum balance

Pricing Plans

Pricing checked Jul 13, 2026

Free

No monthly fees
No minimum balance
Free unlimited invoicing
Free bill pay
$7/mo ATM fee refunds
Free ACH transfers

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Reviews

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3.5/5

Across 11 verified user reviews on G2

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Best Novo Alternatives

Top alternatives based on features, pricing, and user needs.

MercuryFree

Business banking for startups. Open an account online in minutes

4.6

OxygenPaid

Banking services for small businesses and entrepreneurs, currently undergoing new initiatives.

4.2

FoundFreemium

Smarter banking, bookkeeping, and tax management for small businesses and freelancers.

4.5

WiseFreemium

International money transfers and accounts

BluevineFreemium

Banking beyond expectations with a powerful business banking platform for growth.

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Still deciding?

Most buyers shortlist 2 or 3 tools before committing. Pull a side-by-side comparison or browse the full alternatives shortlist below.

Novo vs MercuryHead-to-head: features, pricing, who wins Novo vs OxygenHead-to-head: features, pricing, who wins Novo vs FoundHead-to-head: features, pricing, who wins

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Novo FAQ

How does Novo help small businesses manage their finances efficiently?

Novo provides a free checking account with features like easy invoicing, intuitive budgeting, and real-time insights. It also allows users to create custom, branded invoices with automatic reminders and set up automatic allocations for payroll and taxes.

Which teams or individuals benefit most from using Novo?

Novo is designed for small businesses, freelancers, and self-employed individuals. It helps these users manage their finances efficiently and simplifies financial operations.

How is Novo's pricing structured?

Novo is available on a free tier, with paid plans offered for users who require more usage and additional features. This allows businesses to choose a plan that fits their specific needs.

What kind of integrations does Novo offer for business operations?

Novo offers seamless integration with popular business tools such as QuickBooks, Stripe, Gusto, and Square. These integrations help consolidate financial management in one place for users.

What are the main limitations a business might encounter with Novo?

Novo is currently limited to US businesses and does not offer physical branch locations. Additionally, there are deposit and transfer limits, and its feature set is still evolving, which may not suit all business needs.

How does Novo compare to a competitor like Found?

Novo offers a free checking account with features like invoicing and budgeting, similar to Found, but emphasizes seamless integration with a range of popular business tools. Novo also provides access to flexible funding and educational resources for business growth.

Source: novo.co

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