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  Novo Business Checking Account
Novo Business Checking Account
in Business Checking Accounts from Novo Bank
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Novo Business Checking Account

Unaffiliated
in Business Checking Accounts from Novo Bank
SuperMoney Net Recommendation Score +83  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +83, equating to 4.7 on a 5 point rating scale.

+83

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

5 users recommend
1 user is unsure
0 users don't recommend
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3 reviews
Highlights
Community Rating Strongly recommended
Monthly Fee $0
ATM Fee: Out-of-Network Starting at $0
Minimum Balance to Avoid Monthly Fee Starting at $0
APY (Annual Percentage Yield) 0%
Number of Reviews 6

Novo Business Checking Account Review

Novo Business Checking Account is offered by Novo Bank, founded in 2016 and based in New York, NY. Novo Business Checking Account is available in 51 states across the USA.

Key Takeaways
  • 0% APY. As with most checking accounts, Novo Business Checking Account does not pay interest.
Novo Business Checking Account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not earn interest
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Not FDIC-insured.
Novo Business Checking Account FAQ

Are business checking accounts from Novo Bank federally insured?

No, your Novo Bank business checking accounts are not insured by a federal insurance agency. This means that if Novo Bank were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

What APY does Novo Business Checking Account offer?

Novo Business Checking Account is not an interest-bearing account.

What are the account minimums for Novo Business Checking Account?

Novo Business Checking Account requires a minimum initial deposit of $50 to open an account.

Novo Business Checking Account Account Minimums
Description Amount
Minimum Initial Deposit $50

What fees does Novo Business Checking Account charge?

This account charges a monthly maintenance fee of $0.

Novo Business Checking Account Fees
Description
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Check Cashing Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0
Monthly Fee $0
NSF Fee $27
Online Bill Pay Fee $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $27
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0

What features and perks does Novo Business Checking Account offer?

This account includes the following features:

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Novo Bank

Contact

About Novo Business Checking Account

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Opening Deposit Starting at $50
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $0
Check Cashing Fee $0
Debit Card Replacement Fee $0
Early Account Closure $0
Monthly Fee $0
Online Bill Pay Fee $0
Paper Statement Fee $0
Stop Payment Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
NSF Fee $27
Returned Deposit Fee (Domestic) $27
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Business Tax Return
  • Employer Identification Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Soft Credit Pull
  • Debit Card
  • Branch Access
  • Member FDIC
  • Expense Management
APY (Annual Percentage Yield) 0%

Novo Business Checking Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +83, equating to 4.7 on a 5 point rating scale.

+83

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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