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Novo: Business Banking (2026)

Alex Parker, CFA

Senior Banking Editor

October 28th, 2026

Novo Business Banking Ratings Breakdown

Overall 9.2 / 10

Novo scores 9.2/10 for Overall in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

Interest Rates & APY 9.2 / 10

Novo scores 9.2/10 for Interest Rates & APY in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

Fees & Minimums 9.5 / 10

Novo scores 9.5/10 for Fees & Minimums in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

Customer Service 8.9 / 10

Novo scores 8.9/10 for Customer Service in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

Mobile App & Digital Banking 9.2 / 10

Novo scores 9.2/10 for Mobile App & Digital Banking in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

Rewards & Perks 9.5 / 10

Novo scores 9.5/10 for Rewards & Perks in Business Banking, backed by Fee-Free + Novo Reserves rates and transparent digital terms.

When evaluating Novo for Business Banking in 2026, our financial analysts examined interest rates (Fee-Free + Novo Reserves), monthly maintenance fees, deposit insurance, and digital banking tools.

Novo is a top-rated U.S. small business checking platform (FDIC-insured through Middlesex Federal Savings, F.A.) built for freelancers, LLCs, and e-commerce sellers, featuring $0 monthly fees, 100% ATM fee refunds every month, Novo Boost (get Stripe payouts up to 2 days faster for free), and Novo Funding up to $75,000.

Key Highlights for Business Banking:

$0 monthly fees, $0 minimum balance, and up to $7/month in ATM fee reimbursements
Novo Boost delivers Stripe payouts up to 95% faster with zero added fees
Built-in unlimited free invoicing, up to 20 Novo Reserves budgeting buckets, and Shopify/QuickBooks/Xero integrations
Novo Funding provides working capital advances up to $75,000