Novo · Fintechs and neobanks
Novo Business Checking review
Novo is a genuinely free business checking account: no monthly fee, no minimum balance and no transaction fees, plus built-in invoicing and integrations with Stripe and ecommerce platforms. It doesn’t pay interest and allows one checking account per EIN.
Who Novo is best for
Freelancers and solopreneurs and online sellers using Stripe.
Businesses wanting interest or several accounts.
Novo is a genuinely free business checking account: no monthly fee, no minimum balance and no transaction fees, plus built-in invoicing and integrations with Stripe and ecommerce platforms. It doesn’t pay interest and allows one checking account per EIN.
Fees, features and eligibility
| Interest on balances | No interest |
|---|---|
| Monthly fee | $0 monthly |
| Transfers | No transaction fees |
| Account type | Fintech account (partner banks) |
| Currencies | USD |
| Who can open it | US businesses (one checking account per EIN) |
Source: Novo published product information.
What stands out
Pros
- No fees
- Built-in invoicing
- ATM fee refunds up to $7 a month
Cons
- No interest
- One checking account per EIN
Novo: common questions
Is Novo free?
Yes. There’s no monthly fee, minimum balance or transaction fee.
Does Novo pay interest?
No.
Used Novo? Help other businesses choose.
