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Novo Small Business Checking

About Novo Business Banking

The Novo Small Business Checking from Novo is one of the top-rated Business Banking options evaluated on MoneyCompared, earning an overall product score of 9.1/10. 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 include 0.00% APY, a fee structure of $0 Monthly Fee, and $5,000+ in partner software perks (Stripe, Gusto, QuickBooks).

Features

Annual Fee	$0 Monthly Fee
Regular APR / Rate	0.00% APY
Intro Offer / Welcome Bonus	$5,000+ in partner software perks (Stripe, Gusto, QuickBooks)
Savings APY / AER	Free Novo Boost early Stripe payouts + 20 Reserve buckets + ATM refunds
Minimum Deposit	$0 Minimum To Open ($50 to activate perks)
Foreign Transaction Fee	$0 (None)
Deposit Insurance	FDIC / NCUA Insured ($250k+)
Mobile App Rating	4.8 / 5.0
Overall Rating	9.1 / 10

About Product

Annual / Monthly Fee: $0 Monthly Fee
APR / APY Rate: 0.00% APY
Intro Offer / Bonus: $5,000+ in partner software perks (Stripe, Gusto, QuickBooks)
Key Benefits: Free Novo Boost early Stripe payouts + 20 Reserve buckets + ATM refunds
Minimum Requirement: $0 Minimum To Open ($50 to activate perks)
Institution: Novo (Miami, FL, USA)

Pros

Rate / APY / APR: 0.00% APY
Fee Structure: $0 Monthly Fee
Welcome Offer / Highlight: $5,000+ in partner software perks (Stripe, Gusto, QuickBooks)
Key Perks: Free Novo Boost early Stripe payouts + 20 Reserve buckets + ATM refunds

Cons