Novo review (2026): pricing, fees and who it's for
Free online business checking with invoicing, budgeting Reserves and app integrations.
Good fit if
New owners who want free checking linked to sales apps
Pick something else if
You handle cash often, want interest on balances, or need phone support.
What we like
- $0 monthly fee, no minimum balance and free standard ACH.
- Refunds up to $7 per month in other ATMs' fees.
- Free unlimited invoices plus up to 20 Reserves for taxes and expenses.
- Connects with QuickBooks, Xero, Stripe, Square, PayPal and Gusto.
Watch out for
- No direct cash deposits; you must buy a money order and deposit it.
- No interest: Novo offers no savings accounts or CDs.
- Outgoing domestic wires cost up to $30; international only through Wise.
Novo pricing
| Plan | Price | Notes |
|---|---|---|
| Novo Business Checking | $0/mo | Only plan listed; some optional services have fees |
Prices as published on Oct 4, 2026. Confirm on their site; promotions change often.
The details
| Monthly fee | $0 |
|---|---|
| Opening deposit | $0 (no minimum deposit) |
| Minimum balance | $0 |
| Interest (APY) | None (no savings accounts or CDs) |
| Cash deposits | Not direct; buy a money order and deposit by mobile |
| ACH transfers | Standard free; Express ACH 1.5% (min $0.50, max $20) |
| Wire transfers | Incoming free; outgoing domestic up to $30; international via Wise |
| ATMs | No Novo fee; refunds up to $7/mo in ATM fees; no fee-free network |
| FDIC insurance | Up to $250K via Middlesex Federal Savings |
| Mobile check deposit | Mobile, free |
| Invoicing | Free unlimited invoices with automatic reminders |
| Sub-accounts | Up to 20 Reserves (inside one account, not separate) |
| Connects with | QuickBooks, Xero, Stripe, Square, PayPal, Gusto, Amazon, eBay |
| Cards | Mastercard debit (physical, virtual); Novo business credit card |
Before you sign up
You'll need
- Government photo ID and SSN
- EIN (required for most businesses, including sole props)
- Formation documents, e.g. Articles of Organization
- US address and US cell phone (major carrier)
Do this first: Get your EIN first (free from the IRS), and have your formation papers and photo ID ready. Most banks approve online accounts in 1-3 business days. How
What users say in public ratings
Seen on Oct 4, 2026. App store ratings mostly reflect the app; Trustpilot leans toward billing and support stories.
Novo alternatives
- 8.8/10FoundSelf-employed owners who want banking plus tax tools · Free plan Novo vs Found
- 8.8/10RelayOwners who split income into many accounts · Free plan Novo vs Relay
Questions
How much does Novo cost?
Novo Business Checking: $0/mo.
Does Novo have a free plan?
Yes. Novo Business Checking costs $0/mo.
Does Novo offer help in Spanish?
Spanish website.
What do I need to sign up for Novo?
Government photo ID and SSN; EIN (required for most businesses, including sole props); Formation documents, e.g. Articles of Organization; US address and US cell phone (major carrier).
Is Novo good for a new business?
It fits new owners who want free checking linked to sales apps. Pick something else if you handle cash often, want interest on balances, or need phone support.
What are the alternatives to Novo?
Found (Self-employed owners who want banking plus tax tools); Relay (Owners who split income into many accounts).
Sources
- novo.co/business-checking/no-fee-checking
- novo.co/es/business-checking/no-fee-checking
- novo.co/integrations
- novo.co/invoices
- novo.co/contact
- novo.co/help/how-can-i-deposit-cash-into-my-account
- novo.co/help/how-much-does-it-cost-to-send-a-wire
- novo.co/help/what-is-the-fee-for-domestic-wires
- novo.co/help/what-is-the-fee-for-international-wires
- novo.co/help/is-there-a-fee-for-express-ach-transfers
- novo.co/help/is-there-a-fee-for-check-deposits
- novo.co/help/does-novo-offer-access-to-a-network-of-fee-free-atms
- novo.co/help/does-novo-offer-savings-accounts-or-certificates-of-deposit-cds
- novo.co/help/is-there-a-required-minimum-or-maximum-deposit
- novo.co/help/how-do-i-create-a-reserve
- novo.co/help/what-documents-or-information-do-i-need-before-applying
- novo.co/help/can-i-get-phone-support-during-the-application-process
- apps.apple.com/us/app/novo-small-business-checking/id1375554760
- play.google.com/store/apps/details?id=com.novo.android
- trustpilot.com/review/novo.co
Checked Oct 4, 2026. Something out of date? Tell us. Our score is calculated from public facts; partners can't pay for a better one.