Novo

Description

Novo is a modern banking platform designed specifically for small businesses, freelancers, and entrepreneurs who need streamlined, no-fuss financial tools. Built to help you manage your business finances on the go, Novo combines a sleek digital interface with essential banking features, without the hidden fees or outdated systems of traditional banks.

Through its partnership with a regulated banking institution, Novo offers FDIC-insured accounts, instant virtual debit cards, and integrations with popular business tools. With Novo, managing your business finances becomes simple, intuitive, and fully mobile!

Novo FAQ

Is Novo a legitimate bank?

Novo is a legitimate banking platform! While Novo itself is a fintech company, it partners with Middlesex Federal Savings, F.A., a member FDIC, which provides the actual banking services and ensures your funds are FDIC-insured.

What bank is Novo affiliated with?

Novo accounts are backed by Middlesex Federal Savings, F.A., providing FDIC insurance up to the legal limits on all deposits.

Does Novo give you a debit card?

Yes, Novo provides both a physical and a virtual Mastercard® business debit card. The virtual card is available immediately, so you can start making purchases right away.

How do I deposit money to Novo?

You can fund your Novo account through ACH transfers, mobile check deposit via the Novo app, or by receiving direct deposits. Novo does not currently support cash deposits, but you can deposit funds digitally.

Can I transfer money from Novo to a bank account?

Yes, Novo allows you to transfer funds to external bank accounts via ACH transfers. Transfers can be initiated directly from the app or web dashboard.

What is the minimum balance for a Novo account?

There is no minimum balance requirement for Novo business checking accounts! Novo also charges no monthly maintenance fees, making it an accessible option for small businesses and startups.

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