At this point, you know all about what Novo can do for your business―the good and the not-as-good. But before you decide to go with Novo, let’s talk about what Novo customers think of it.
Unfortunately, Novo has pretty negative reviews. It has a 1.8 (out of 5) on Trustpilot.1 And sure, that score comes from just 14 reviews―but all 14 are really, really negative.
Customers complain about customer service, saying it’s almost impossible to get ahold of someone in the first place and that you won’t get much help when you finally get in touch. At least one business owner said that they had trouble ever getting their debit card, and multiple people claim that Novo’s mobile check deposit doesn’t work properly.
Elsewhere on the web, we saw people complain that it takes way too long―weeks, even―to get approved for a Novo bank account.
Most troubling? Several reviewers said that Novo suddenly and unexpectedly closed their bank accounts. And at least one of those people had trouble getting Novo to transfer their account balance to another bank account.
Now, most banks for business have mixed-to-negative reviews. We get that. But we don’t usually see a bank with no positive reviews. So Novo’s poor ratings concern us. Of course, it only has a handful of reviews right now, so it may get more and better reviews in the future.
For now, though, Novo Bank reviews are bad enough that we encourage you to think very carefully before signing up for a business checking account.