Novo is a mobile business banking platform for small businesses, entrepreneurs, and freelancers. Novo offers self-employed a bank account that is easy to use with almost no fees. Novo's partner bank is Middlesex Federal Savings.
Monthly Maintenance Fee
(United States dollar)
I had a dispute for a transaction. First let me state it took 122 days! NOT once was I ever contacted by anyone at the bank during this process. Today I was told the merchant won their claim and I would not be refunded. It was an $800 transaction for legal preparation in which the service was never provided. In fact I had to hire an attorney to start the process all over again. The company missed several deadlines refused to finish my file. Failed to respond to BBB and even told me to lie to the courts because the company forged my signature which is Penal code violation PC115 and classified as a felony. Yet Novo is incompetent to win this dispute. Beyond belief. Do not use them for anything but standard purchases their dispute process is a total Joke!!!
Please listen and let me save you from the worst banking experience I have ever had. First I had multiple times where a deposit sat pending for weeks and I kept going round and round with them as to why. When I already was switching banks, my debit card suddenly has fraud charges on it. I am frantically trying to cancel it and can’t get an answer on the “24/7” line. I was finally on the phone for the one when a second went through. I jumped through all their hoops and contacted the vendors, they said they submitted the agreement to refund it but Novo only returned the smaller charge. I keep asking and they say it takes a while…I am talking months. I also sent a check through them and it never arrived and still shows pending. No way to cancel or anything…again MONTHS later. If you talk to their customer support, they just say they have to email another department. From my conversations everything is third party and customer service is non existent. You can chat but if they answer and don’t just close a support ticket without an answer like they have many times, you don’t really get any help. This is your money, park it ANYWHERE else. A mattress would be better.
This is not a real bank. They have no phone number, no e-mail, customer service is not allowed on a computer only on the phone app. They put 5 day hold on deposits, and it took them 10 days to process my 3 bill payments, and that was before they even mailed the check! Terrible experience.
WALK AWAY FROM THIS BANK NOW Don't even try to sign up! I am totally disappointed in this so-called digital bank. The sign-up and account review process are basically a joke. After my initial funding is transferred, they asked me to send over the partnership agreement in chat. Uploaded and didn't hear back for a month. Contacted them, asking me to send it over email. Sent and didn't hear back for a month. Now they are asking me to upload again via chat. So my money is stuck, business is paused and partner is irritated, all because I chose this fake bank.
I’m done using Novo. It’s only been about a week. I haven’t even received my initial card they “sent out”… they’re asking me to request a new one. Where is the first one?? My money is stuck on the app now because they don’t offer instant transfers to other apps.. like novo to Venmo or PayPal. You can only do 3-5 business days. If this is for small business why do you think we can afford to wait that long for funds?? Make a long story short… thanks for nothing
I stopped using this bank months ago after they sent a check from my account, withdrew the funds, but then bounced the check when the person cashed it. It cost me double. Now, I canceled a large purchase I had made with this account months ago and it was refunded to the form of payment (although I fought for them to send me a check). They are now holding my funds because my account is frozen for some reason. The only way to contact them is through a stupid bot, and 3 ‘people’ have responded to my demand for a phone number with the EXACT same copy/paste response. I’m a bootstrap business. While $200 may not seem like a lot, it is to me and I NEED it now, today. I am so angry, and it just reinforces why I moved my business to Chase.
Novobanco in tavira . I did an application for a mortgage loan it took them 3 weeks and asking for all the paperwork all over again to say well we need a grantor and for the90% you need to be portugees. Everyone run from this !!!! i will go now somewhere else where a customer is respected. they are all nice when you come to open bankaccount and want you . Once in nothing
Finscanner is an independent digital platform aiming to provide up-to-date access to worldwide financial services to improve customer experience and boost transactions.
On this page, you can see a detailed review of Novo Payment systems with reviews from real users and our experts. Novo provides the following services: Asset Management, P2P, Savings Account, Wallets, Wire Transfer Acceptance, US allowed, ACH.
At the moment, Novo rating on Finscanner is 3.8 and on Trustpilot is 3.7.