It’s a scam, stay away from it
After depositing a check (which took over a week clear) they froze the account to “ensure the integrity of my account”. Never had issues depositing checks from the same client to other banks. The account has been frozen for over a month now with no end in sight and with no timeline or reason for the freeze. They are a scam, stay away if you don’t want your money to be stolen from you.
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DO NOT USE NOVO
Payee account #s and SSNs are fully viewable when logged in, once hacked anyone has access to that as well as virtual debit card and ability to authorize addl funding. Don’t do it, stay away from this very poorly secured platform.
Novo is a Scam bank
It is advisable to exercise caution and refrain from sending large sums of money to Novo, as they may seize funds without returning them. I have personally experienced this situation, with Novo withholding my $73,000 for over two months under the claim that the funds are under investigation, with no specified timeline for resolution. As a business owner, I advise potential clients to avoid using Novo for banking services, especially when transferring significant amounts of money, as they tend to hold such transactions. With over 800,000 followers on TikTok, I plan to disseminate this warning across various social media platforms to expose these practices and report the matter to the appropriate authorities.
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Nearly impossible to deposit a check
They make it nearly impossible to deposit a check, my check has been denied multiple times. They also say the check is accepted so you think it’s okay and then email you hours later saying it was denied. I wrote the date on the check to show I deposited it thinking it went through and now the check is being denied for that and they want me to have my customer write a new one.
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DO NOT BANK HERE
They have you write specific things in a specific order to deposit a check otherwise they decline your check and refuse to explain why leaving you with a useless check and no money in your account. They refuse to manually review in case their system has an issue. The only solution they provide is telling you to get a new check. They give no information of why you were declined. Do not bank here!
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Denying new account for unknown reasons.
Apparently it's really difficult to qualify for an account, maybe they don't actually service small businesses, they will deny you and then say they cannot give you a reason why. I've been denied twice to open a checking account for my small business and I have zero risk factors and great credit. I've never been denied the ability to open a any account with any business and this is making me suspect that Novo isn't the business it is advertised to be. Happy to give another company my business. Peace.
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Unable to Provide Any Positive Feedback at This Time
While I can't share specific details about my review process, common reasons include:
- Poor communication
- Obscure business processes
- Discrepancies in what you say and do
- Poor communication
- Obscure business processes
- Discrepancies in what you say and do
Great App, Terrible Support
The app works great until you need support, then there’s no support available. Also, accounts can be closed due to inactivity without any warning or notification, which is very frustrating.
Avoid novo, you’ll lose all your money
A bunch of scamming thieves who’ll freeze your money and tell you to be patient for two weeks waiting for an update only to end up logged out after receiving a notification that the money was withdrawn.
Disorganized. Feels Like Scam. Plenty of Better Options.
Huge waste of time and energy. Feels like big scam throughout the process. Don’t waste your precious time on disorganized newcomers.
Bad
Awful customer service, any other option would be good.
No Customer Service
This banking app has zero way to contact a real human on the phone at Any Time. DO NOT USE THIS APP.
Considering legal action
For multiple weeks now they've had issues with their app where I cannot deposit checks because the camera system does not work. (I'm using an iPhone 15 Pro with the latest updates.)
I've been in communication to get this resolved and yet nothing gets done. Beware, if you're using this for business, they will hold your business hostage.
I've been in communication to get this resolved and yet nothing gets done. Beware, if you're using this for business, they will hold your business hostage.
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Zero customer support
Signed up on a Friday, deposited 2 checks that were great and from a trusted source, they accepted them, and then denied them.
I tried to use the online help box and that got me to a prompt that told me they’re only open 9-6est
That’s fine….
I tried calling this morning. They refuse to put me thru to a supervisor, 7… yes seven phone calls later and still no help.
Finally a team lead reaches out over the chat box online again.
‘We simply can’t accept those checks, and we can’t tell you why either, it’s a security risk’
Asked for a manager again, no help.
So here we are, I’m trapped with no money, and no help. This is the biggest joke in banking history don’t sign up here even if it was your last choice.
I tried to use the online help box and that got me to a prompt that told me they’re only open 9-6est
That’s fine….
I tried calling this morning. They refuse to put me thru to a supervisor, 7… yes seven phone calls later and still no help.
Finally a team lead reaches out over the chat box online again.
‘We simply can’t accept those checks, and we can’t tell you why either, it’s a security risk’
Asked for a manager again, no help.
So here we are, I’m trapped with no money, and no help. This is the biggest joke in banking history don’t sign up here even if it was your last choice.
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Can’t log in
Since I signed up, I haven’t been able to log into the app with my credentials. I always get an error. I can login on the web browser with no issues.
Can't read a digital check
The bank has been OK, but the app has gotten worse as far as it will not deposit half of the checks that I try to deposit. The latest one was completely digital, as clear as any check can be to read and it could not scan it. After 10 attempts re-scanning it it still would not go through. We are now going to have to switch and use a different bank since this is completely an online program and the online system doesn't work very well. It makes this useless.
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Won’t let me login in
Been buggy and won’t let me login anymore. :(
They are racist and classist
They are racist and classist
If you are an actual business, don’t use Novo.
I got Novo when I wasn’t making much money and the company I now run was a side project. As soon as you get more than $10,000 in your bank, go to Chase, go to Wells Fargo, go to somewhere where you’ll actually be treated like a customer who needs to get other people paid. Whether that is clients or suppliers or employees. do not use Novo. Their support team is in the Philippines, and they don’t accept Zelle. Frankly, all of it could be dwindled down to the fact that they don’t accept Zelle. That is by far the most hindering fact about this business bank.
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Update iPhone access is fixed
I saw the update and thought finally I’ll get access through my iPhone. Sadly it said confirmation code sent but again never arrived. I decided to phase out Novo and go to another small business online banking company.
A week later it was working again. I figure it must’ve been a glitch and they got back with me by email and
Suggested it might have been my phone service was blocking access.
Anyway. All ok now.
A week later it was working again. I figure it must’ve been a glitch and they got back with me by email and
Suggested it might have been my phone service was blocking access.
Anyway. All ok now.
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