Novo is focused on creating the best small business checking experience, specifically for super small business owners and teams, typically with under 50 employees, with the majority being solo entrepreneurs.
This is often your first business checking account, or you may be switching from Bank of America, Wells Fargo, Chase, etc.
Novo is completely free to use with no requirements. It easily integrates with your Stripe, Square, Shopify, etc. and refunds all ATM fees and fees for money orders. You can set up automated payments to credit cards or other vendors and even set up debit cards and virtual cards to help track spending.
From Etsy sellers to Uber drivers, Novo is one of the fastest and easiest ways for creators and solopreneurs to set up simple checking accounts. Although Novo is not a bank, they are #1 in their space and they have a banking partner - MiddleSex Federal Savings.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
Novo is completely focused on that super early stage checking account experience. Most other banking platforms may be more focused on lending, credit cards, invoicing, or other aspects of banking outside of this basic banking experience.
They also are extremely fast at moving your money (claiming to be even faster than Stripe at processing). Specifically, their Novo Boost product makes revenue generated via Stripe accessible in your checking account in hours instead of days, getting money into and out of the account as quickly as possible, ensuring you’ve got better cash flow to reinvest back into the business.
Novo Boost claims to get you access to Stripe revenue 95% faster than the industry standard, and is free for all Novo customers (no 1-2% payout fees here!).
With Novo, you’re going to save a lot of money in fees. No transaction fees, no ATM fees, no money order fees, etc.
Setup is always done by the CEO, CFO, founder, or whomever is managing the bank account. 95% of applications are completed and accounts are opened within a day, and is often done within 30 minutes. Your application does have to go through a quick process, which may require manual review by their internal team to ensure compliance with government regulation.
To use Novo you must be USA based.
Novo is great for the ultra small and starting businesses, working even better for those running through a payment processor like Stripe, Shopify, or Square, but still will work with any other processors just fine.
Not perfect for more complex businesses that have complex functionality, multiple accounts, hundreds of employees, etc.