Review Time
Almost every step of my interactions with Novo have been terrible. I am trying to get off of the platform and move to an established bank. The app, the processes, and the people have all combined to make it a less than one star experience.
I have been a customer for years and it has gotten increasingly worse. A while back the entire desktop app shut down for days and no one even acknowledged it. I was late on several payments to my vendors because of this and the team at Novo didn't even offer an apology or any reparations for the damage done.
The company had a promotional offer for a $300 bonus for new accounts. I fulfilled all the criteria, yet the bonus has not been issued. I submitted a support ticket, but the only response I received was that the Accounts Team deemed my account ineligible. When I inquired about the reason, I was told, "I don't know why, but the Accounts Team said it was not eligible." I am completely sure that I met all the requirements and even provided a timeline of when each condition was satisfied along with the original offer details. I advise against trusting this bank with any promotional offers and, by extension, your funds.
The service has seen better days and now seems to be focused on minor profits. For instance, a merchant "canceled" my subscription but continued to charge me, making it hard to resolve the issue. I provided the cancellation confirmation to the support team, but they directed me back to the merchant, costing me more time. I had to push for a resolution multiple times. Now, I'm facing another problem with a fee that I have to follow up on. This bank, which was once reliable, is becoming increasingly frustrating. I might consider switching if they disappoint me again.
They closed my account with zero warning. Apparently it went too long without funds despite me regularly receiving payments into it for easily 6 months. They claim they sent me a warning email about this, but I never received it. Don't waste your time. Choose a real bank.
Terrible bank that can't read numbers. Told contractor of mine that my 2 was a 5 in the date and "25" for 2025 is somehow "55" when everyone but them can read. They wasted everyone's time making me have to put a stop payment on a clearly written check, because their people can't even read. Highly recommend you don't go with these people. Never had any problems like this in my entire life until paying a member of this bank.
I’m extremely disappointed with this company and I do not recommend anyone waste their time trying to create an account with them.I am a small business owner and was in need of getting help to expand my business so I turned to novo. I was in the processing of completing my application but I never finished as I was still looking for additional requested documents. I returned to the page the next day to complete my application to find out they had denied me even though I NEVER submitted my application. I reached out to novo to explain that and despite even that, I was still dismissed by Maria. Never once cared that I never completed or submitted my application. You denied me without even having my full documents or anything. Please save yourselves and go to a fair company.
No customer service (it's a call center that puts you on hold). Had fraudulent activity and when I called they could not help me, the advice was "let the transaction go through and call us after". The reviewed my fraud case and the advice was to call the merchant and work it out. Best advice ever, call the scammer and give them more information. I am closing my account.
Novo Bank has been a huge disappointment. There’s no contact phone number listed on their card, which makes it nearly impossible to get help when you need it. We run a business and have both a bank account and a credit card with Novo, and every time we travel for business, the card gets declined—even when there’s plenty of money in both the bank account and on the credit card. It’s embarrassing and unprofessional.Trying to resolve the issue is just as frustrating. At one point, they told my husband the card was declined because it wasn’t activated, even though he had already activated it.If you’re looking for a bank for your small business, look elsewhere. Novo is not worth the trouble. Having your card declined repeatedly makes your company look bad, and in the end, you’ll end up using personal cards and accounts just to cover expenses. Save yourself the stress and choose another bank.
I must start with saying "OMG!" They make using their services almost impossible. When I first got their Debit card as a member, it would continually get declined, which is very embarrassing when dealing with my vendors, just to pull out my personal card to pay the vendors. When I got the novo (yes, its lower case on purpose because that's how much respect I have for them) credit card, I figured since it is a Master Card I should not have that issue. It has declined every time I have used it with vendors, suppliers, and business meals, which I end up paying with my personal card. What the hell do I need novo for if I have to pay for everything with my personal card? I will be finding another bank today to open a new Business account and transfer what is in my novo account. This is BAD business, and you should not use them. I did some research, which I should have done before signing up with them, and they are not even a bank. I would advise you all to research this for yourself. You will see that they are legally not even a bank. That would never be a problem if they did right by their customers. And if you do have an account, please leave and go somewhere else before they cause you more grief, because I am very confident that they have already. I will be placing this review everywhere I can because people need to know not to do business with them. Save yourself the drama and just spend a bit more time looking for a "Bank" that can actually help you.
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