Leave a Review Novo
Terrible Fraud Department
TERRIBLE BANK. When you need them the most they will hide! I had a fraudulent transaction on my account. You would think I could just go in the app turn my card off or better yet call them and they would refund the transaction and send me a new card. NOPE! Instead I realize there’s no option to turn off my card. I call the fraud department and they can’t help me because I don’t have an open case. Despite me calling to OPEN a case. I then call the number on the back of the card she says you have to email us all the info or just try calling the merchant to reverse the transaction. Why are we communicating through a chat this is pathetic. You call this a professional banking experience? Any other bank would have handled this instantaneously. I’m transferring all my money to my external bank account that I can trust. After this dispute I will no longer be banking with your wannabe bank again.Show lessBruisedPiano
Not a real bank
The app looks and functions great. Too bad the “bank” doesn’t. Delivering a debit card took almost THREE MONTHS for my wife when she set up her account. My card was apparently compromised and after immediately calling their fraud prevention department, engaging in a number of support chats, and completing a dispute form, I received a “final” resolution that the money would not be returned due to “No dispute rights for the transaction.” And, after deactivating the card, I was told they don’t have debit cards “in stock” and it would be about THREE MONTHS before they could get another one sent to me. A “bank” account which doesn’t use checks and only uses a debit card for spending is useless when they can’t provide a safe, secure, debit card in a timely manner. I DO NOT RECOMMEND NOVO.Show lesswkeving
Running a “bank” as a side hobby? What a joke!
The idea of running my more simplified checking with this app seemed magical and the features were perfect so I went for it. The biggest problem with this app is that it’s useless without the account which I was happy to open, but... It has been 40 days since I applied and runaround galore over email as others have mentioned here and elsewhere. They are asking for more and more documentation (already provided a brief description, IRS documents, state documents, licenses, certificate of organization, DUNS, my SSN, my drivers license, drivers license extension, EIN... what is this? A phishing scam or an online checking account?). Communications has been so unprofessional and delayed -it seems like someone is running this “bank” as a side hobby from their garage. Don’t be fooled by the “5 minute application”, it will take weeks if not months before you have an account. In the meantime I missed deadlines for COVID-19 business relief that needed an account and thankfully was able to open a two last minute account elsewhere.
An offensively colossal waste of time. I am seriously scared at the amount of info these shady guys have about me and my business now. Beware and stay away.Show lessIratherfly
Developer Response
Hi Iratherfly, Sorry to hear you're facing complications with your application. Please email us at support@banknovo.com and we'll be happy to further assist.Good customer service but frustratingly bad platform
So far most of my interactions with customer service have been good. But they are still very slow and a long way off from having a good platform. For a virtual bank to limit your check deposit picture amount per month was a frustrating discovery when we tried to deposit more than 5 checks one month.
Their were a handful of nuances but what recently is the straw that broke the camels back was concerning the PPP in the Cares Act. They requested that you put in NOVO as the agent that helped you submit your form. What people may not understand about that is that they get a 1% kickback for that which is fine BUT the purpose of that kickback is for accountants to help businesses gather the information needed when they don’t charge the businesses for their services and hours that they spend on it. So Novo is essentially saying that they helped you pull all the numbers together AND (believe it or not) they will have some liability attesting that the numbers you submit is correct (which is a lawsuit waiting to happen and just a plain old foolish thing to put their company at risk for just because they want that 1% off the top). It made me very uneasy of their ethics when I saw that.Show lessJbenk7
Developer Response
Hi Jbenk7, Thanks for reaching out and sorry to hear that. To confirm, Novo would be considered under "broker or referral services" and not the agent. Feel free to reach out to our support team if you have any further questions and we'll be happy to explain in further detail.Frustrating
The idea behind this bank is solid, they don’t charge you fees, they even reimburse you for atm fees charged by the atm itself and they don’t charge their own.
But this bank is the most frustrating bank in the world to deal with. Everything is very difficult. A wire is too complex for the other party to figure out, a disputed transaction is a headache, their customer service department is tiny. I think I’ve spoken to every one of their employees already. It takes forever for anything to happen in this bank.
Your balance is never accurate. It takes about a day, sometimes longer for transactions to reflect in your account balance.
The app is pretty user friendly but I wish they would improve the quality of the actual service.Show lessbradley123098
Developer Response
Hi bradley123098, We're sorry that you haven't had the greatest experience with Novo. Your feedback is very important to us and we've sent this to our team to review so we can improve our services. Feel free to reach out to support from within the Novo app if you have any questions, concerns, or feedback in the future.Horrible Mobile Deposits STAY AWAY
If you rely on mobile deposits, then currently, it’s best to stay away from this bank. The biggest flaw with this bank is their camera app for mobile deposit. It’s so crude and cheap that it doesn’t allow you to review the check image before deposit and it only gives you a couple seconds to take the picture. Therefore, if you don’t get a 100% clear image, your check will be rejected. They do not tell you if it’s been rejected, so it’s on you to check every deposit to make sure it’s been processed. This results in having to mail the check to the bank to have them deposit it for you. Currently it’s been 6 weeks that I’ve been dealing with Novo customer support trying to fix this issue before telling me to mail it. It will be about another 2 weeks before it has been cleared and posted (assuming they can even deposit it at this point). A 2 month waiting period for a check to be cleared due to a faulty crude camera app is incredibly absurd. Save yourself.Show lessDDMARGO
Developer Response
Hi DDMARGO, We appreciate your honest feedback and we apologize that there have been some issues with our mobile deposit feature. We've flagged this to our team to further investigate. That said, please reach out to support from within the mobile app and we're happy to work with you to make sure that this doesn't happen again.So far, so good!
I recently opened a Novo business bank account. It is easy to use and they don’t charge fees for transferring money to external accounts and the account doesn’t have a fee to have a business account, as with Bank of West, BofA, and other traditional banks.
It is great not to be charged fees by Novo just because it is a business account and no BS fees like the brick and mortar banks. I’m glad I don’t have to go to the bank physically to handle issues, as in the past with several banks; my time is valuable. Questions are responded to quickly by a real person, not automated responses or voicemail Hell for thirty minutes of insanity.
I’m super happy and plan to utilize Novo more in the future to move away from the traditional banking system which has not met my needs as a small business owner.Show lessPing pong star hats 1234
Developer Response
Hi Ping pong star hats 1234, Thanks for leaving us your feedback and experience with Novo so far. We're glad you made the switch from traditional banking and that we've been able to provide you a great UX!Many MAJOR Issues
*If you still see this review posted, they have yet to fix the issues*
1- The mobile check deposit feature doesn’t work at all. The first one works great, then it’s downhill from there. I have tried multiple checks, multiple different lighting situations, multiple backgrounds, multiple devices, multiple internet connections... still doesn’t work.
2- I have tried to use the debit card to pay for a $20 purchase (Twilio) but it declined and returned the reason “Bank refused this transaction”.
3- I finally got the card to work at a different store. The funds came out of my account... but my transaction history doesn’t show the charge anywhere. This is highly concerning as it means I am unable to see where my card is being used.
4- It’s not possible to add the Novo debit card to your Apple Wallet. Their two verification methods do not work. The first is “via app” but the screen goes blank. The second is “call Novo” but when you click the button it rings and rings and rings....... it never stops.
I had high hopes but Novo has been nothing but a letdown so far. ☹️ At this point, I would NOT recommend Novo to any business owner.Show lessDavid Topping
AC’s Nuvizion Enterprise
This is a very crazy company that I have discovered even in relocating to Africa from USA north, I am located in Texas they have made it very comfortable for me transform my company over to the new location at the Plymouth stores that I will be opening a great portable price package or both orders the customer service was the greater better very business the red and life at a friends home from how you appreciate it a company like this to be able to do it I will be for an a lot of them and if you are looking to do both shipment this is a great life they make sure that that your products are own time and shipping no mater where it’s a blessing to find great reliable products source and a Cost-effective are broadly business purchase options and treat you better as a family members and does the most to meet your need they returned my call from a email I sent and didn’t mess a beat with information I gave ty ACShow lessAJC Twone
Developer Response
Hi AJC Twone, Thank you for your review and for supporting Novo!Impressive. Quick. Easy.
Great experience for such a youthful app that hasn't generated a lot of user feedback yet! 🙂A check made out to my business was deposited within less than 24 hours and the funds were instantly available. Sending money to Payees does take longer than I expected, but this is a new account. I really just wanted to start by paying myself. In the future, using the card to pay myself should instantly transfer funds. I'll update my review as I learn more.Show lessTakenIsTheBestMovieEverJK
