Novo review
No-fee business checking with invoicing, reserves, cards, and integrations.
Reviewed by iTechGuides Editors · Editorial team · Updated Nov 2026
Novo offers online business checking and related financial tools for independent businesses, including freelancers and small businesses. The account has no monthly maintenance fee or minimum balance requirement, and standard ACH transfers are available at no charge. Invoicing, bookkeeping tools, payment reminders, reserves, and virtual and physical debit cards make it relevant to businesses that want everyday money management in one service. Novo is a fintech, not a bank; banking services are provided by Middlesex Federal Savings, F.A., Member FDIC.
For small businesses managing payments across services, Novo lists integrations with Stripe, QuickBooks, Shopify, Square, Xero, PayPal, Gusto, Amazon, Wise, and Zapier. The account can create invoices, track their status, and send reminders, while bookkeeping features suggest transaction categories. Businesses can also create up to 20 reserves and automatically allocate a share of deposits. Novo is available on web, iOS, and Android, so the account and these tools span desktop and mobile use.
The checking account does not earn interest, while the separately advertised Novo Business Savings account offers 2% APY. Cash deposits are not supported. Novo describes incoming and outgoing international wires, but fees or availability may depend on third-party providers. Businesses seeking free checking with invoicing, reserves, and connections to common accounting or payment services may find the scope a fit. Those that need cash deposits or interest on checking should consider alternatives; the savings rate applies to a separate account.
Novo pros and cons
- Where it wins
- No monthly maintenance fee or minimum balance requirement
- Invoices, payment reminders, and up to 20 automatic reserves
- Connects with Stripe, QuickBooks, Shopify, and seven other listed tools
- Where it doesn't
- Checking account itself does not earn interest
- Cash deposits are not supported
- International wire fees or availability may depend on third parties
Novo fact sheet, pricing and score →
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