Novo

novo.co

Novo is a business checking platform without monthly fees, minimum balances or incoming wire charges, with accounts held at its partner bank and FDIC insured. Its calling card is integrations: Stripe, Shopify, PayPal, Square, QuickBooks and Xero plug in directly, and Novo Boost can pull Stripe payouts forward instead of waiting the usual couple of days. Invoicing is free and unlimited, virtual cards can be spun up per subscription, and Reserves split the balance into named envelopes for tax, equipment or rent. ATM fees charged by other banks are refunded up to a monthly cap.

Good fit for freelancers selling online or through platforms and for anyone tired of paying for a debit card. Weak spots are familiar for a digital account: no cash deposits, no interest on the main balance and no lending. Support runs through the app and email rather than a branch.

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