The Novo Insider’s Guide
Everything we know about Novo in one document: what it costs, its grades, getting a refund, getting help and what else to look at. Read it here, or keep a copy.
Novo
The Insider’s Guide
Free business checking with invoicing, bill pay and debit cards
Every plan, grade, refund rule and rival among spend and bill pay tools, read from Novo’s own pages.
Made by Novo · checked Nov 13, 2026 · toolgpa.com
Contents
- 01WelcomeWhat it is, who it suits, its grades and the ten things to know first
- 02What it costsEvery plan, the free plan, ways to pay less and how prices have moved
- 03What it doesIts main features, where it runs, what it works with and who makes it
- 04Where it standsIts grades against its category, and whether to keep it or make your own
- 05The alternativesThe tools it is most often weighed against, side by side
- 06Quick answersThe questions people ask about it, each answered in a line or two
- 07About ToolGPAWho made this guide, what else is on the site, and how to cite it
ToolGPA put this guide together from Novo’s own pages, its app-store listings and our grades. Every fact in it is on Novo’s page too, where it is kept up to date. Checked Nov 13, 2026.
Part 01 · Overview
Welcome
What it is, who it suits, its grades and the ten things to know first
3.0
GPA, above 69 of the 76 other spend and bill pay tools we grade
Novo is a fintech that offers a business checking account with no monthly fees or minimum balance, virtual and physical debit cards, invoicing and vendor payments by ACH, wire or check. Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC. Novo is a fintech, not a bank, and it connects to accounting and sales tools such as QuickBooks, Xero and Stripe.
To get you started, here are 8 things to know about Novo, taken from its own pages and our grades.
It isn't a bank, the pages give no wire fee schedule, and its expense and bill pay pages are thinner than its checking pages.
- 1
Best for free business checking for independent businesses
Novo is business checking with no monthly fees or minimum balance, plus debit cards, invoicing and vendor payments.
- 2
It is free
Novo has no paid plan at all. Business checking with no monthly fees, no minimums and no transaction limits.
- 3
It runs on 3 platforms
Web, iOS and Android.
- 4
Business checking
No monthly fees, minimums or transaction limits, with FDIC coverage of up to $5M through partner banks as the vendor describes it.
- 5
Debit cards
Virtual and physical debit cards. Novo charges no ATM fees and reimburses third-party ATM fees at month end, up to $7.
- 6
Invoicing
Send invoices with automatic reminders, track when they are viewed and paid, and accept card, ACH, Apple Pay and Google Pay.
- 7
A 3.0 GPA, above 69 of 76
That is against the other spend and bill pay tools we grade, on value, the free plan, features, ease of use and platforms.
- 8
Keep it
Novo is free, so making your own would save you nothing.
Novo at a glance
- Pricing
- Free
- Free plan
- Yes
- Free trial
- None stated
- Runs on
- Web, iOS, Android
- Made by
- Novo
- Category
- Spend & Bill Pay
- Our grade
- 3.0 GPA, very good
- Store rating
- 4.8 on the App Store, 20,052 ratings
The report card
Best for free business checking for independent businesses
Novo is business checking with no monthly fees or minimum balance, plus debit cards, invoicing and vendor payments. It isn't a bank, the pages give no wire fee schedule, and its expense and bill pay pages are thinner than its checking pages.
| Subject | Grade | Comment |
|---|---|---|
| Value for money | A | Business checking with no monthly fees, minimums or transaction limits. That's free and substantial. |
| Free plan and trial | A | Free outright: debit cards, invoicing, free standard ACH, incoming wires and Reserves buckets, with no cap a normal person would reach. |
| Features | C | Checking, debit cards, invoicing, payments and Reserves. The pages describe expense management and bill pay in less detail than checking and invoicing. |
| Ease of use | C | No usable store rating on record: the page shows 4.8 on the App Store and 4.5 on Google Play without the number of ratings. |
| Platforms and integrations | B | Web, iPhone and Android, with QuickBooks, Xero, Stripe, Square, PayPal, Shopify and Gusto. No desktop app. |
An A is worth 4 points, a B 3, a C 2, a D 1 and an F nothing. The GPA is the average of the five.
Who Novo is for
- Fits if you're a freelancer or small business that wants checking with no monthly fee
- Works for sellers who connect Stripe, Square, PayPal or Shopify to their account
Who it is not for
- Skip it if you need real expense controls, as the pages say little about them
- Not for you if you send wires often: the pages give no fee schedule for them
- Watch out: Novo is a fintech, not a bank, with banking from Middlesex Federal Savings, F.A.
- Watch out: Novo Payroll is listed from 17 November 2026 at $24 a month plus $5 per employee
Good to know
Good for
- Freelancers and small businesses that want banking with no monthly fee
- Online sellers who get paid through Stripe, Square or PayPal
- Owners who want invoicing and accounting sync inside the bank account
Worth knowing
- Novo is a fintech, not a bank; banking is provided by Middlesex Federal Savings, F.A., Member FDIC.
- Novo Payroll is listed as available November 17, 2026, starting at $24 a month plus $5 per employee.
- Expense management and bill pay are listed in its menu, but the pages we read describe them in less detail than its checking and invoicing.
- The pages we read give no fee schedule for wires, so check it before sending wires.
Part 02 · Pricing
What it costs
Every plan, the free plan, ways to pay less and how prices have moved
Free
No paid plan at all
Novo is free to use.
Business checking with no monthly fees, minimums or transaction limits.
Novo Checking
$0
No monthly fees or minimum balance. Includes debit cards, invoicing, free standard ACH, incoming wires and Reserves buckets.
The free plan
Business checking with no monthly fees, no minimums and no transaction limits.
Read from novo.co on Nov 13, 2026.
Part 03 · Features
What it does
Its main features, where it runs, what it works with and who makes it
3
Places it runs: Web, iOS and Android
Free business checking with invoicing, bill pay and debit cards. Here is what it does, as its own site describes it, and what it covers: invoicing, expense tracking, bill pay, company cards.
Checking, debit cards, invoicing, payments and Reserves.
- Business checking
- No monthly fees, minimums or transaction limits, with FDIC coverage of up to $5M through partner banks as the vendor describes it.
- Debit cards
- Virtual and physical debit cards. Novo charges no ATM fees and reimburses third-party ATM fees at month end, up to $7.
- Invoicing
- Send invoices with automatic reminders, track when they are viewed and paid, and accept card, ACH, Apple Pay and Google Pay.
- Payments and bill pay
- Pay vendors by ACH, wire or check and move money between Novo accounts instantly.
- Reserves
- Up to 20 buckets inside the checking account for taxes, payroll or slow seasons, filled by rules that route a share of incoming funds.
- Integrations
- Syncs transactions with QuickBooks, Xero, Stripe, Square, PayPal and other tools.
Where it runs
- Web
- iOS
- Android
What it works with
- QuickBooks
- Xero
- Stripe
- Square
- PayPal
- Shopify
- Gusto
- Etsy
Novo is made by Novo.
Part 04 · Standing
Where it stands
Its grades against its category, and whether to keep it or make your own
69/76
Other spend and bill pay tools it is graded above
Novo's GPA of 3.0 is higher than 69 of the 76 other spend and bill pay tools we grade, and level with 4.
It stands best on free plan and trial (A, above 71 of 76) and worst on ease of use (C, above 0).
Novo has no paid plan.
On features, ease of use and platforms it scores 2.3 out of 4, and no tool on the category's chart scores higher without costing more.
Each grade against the category
Every bar is all 77 spend and bill pay tools we grade, cut by the letter each got. Novo’s own letter is outlined.
- AValue for moneyAbove 70 of 76
- AFree plan and trialAbove 71 of 76
- CFeaturesAbove 4 of 76
- CEase of useAbove 0 of 76
- BPlatforms and integrationsAbove 18 of 76
Price against what you get
Each dot is one of 39 spend and bill pay tools. Further left costs less; higher up scores better on features, ease of use and platforms. Novo is the marked dot.
What paid plans start at, a month (each step along is roughly double) →
Keep it, or make your own?
Whether this is something you could build for yourself with an AI app builder, and what you would give up.
Keep it
Novo is free, so making your own would save you nothing.
And it is not the kind of software a weekend replaces. It is one of the better ones too: its GPA of 3.0 is higher than 69 of the 76 other spend and bill pay tools we grade.
What you could make
- Invoicing and expense tracking: an app builder makes these well.
What you could not
- Money moved between bank accounts, which takes a licensed payments partner.
- Cards issued through a bank.
- A real app for iOS and Android. Something home-made would be a web page.
- It plugs into other products, QuickBooks, Xero and Stripe among them.
What this rests on. Novo’s listing: what it does, where it runs, what it plugs into and what it costs. It is a judgement about the kind of software this is. We have not built a replacement for it, and making your own means looking after it too. How we decide, and every tool’s verdict.
Part 05 · Alternatives
The alternatives
The tools it is most often weighed against, side by side
Mercury, Relay, Rho, Brex and BILL
The 5 tools Novo is most often weighed against, with where each one differs from it.
- 3.0GPA
Mercury
Free plan · from $29.90/mo
Business banking with cards, expenses, bill pay and invoicing.
- Only Novo lists an Android app.
- Mercury also covers bookkeeping and payroll.
- 2.8GPA
Relay
Free plan · from $30/mo
Online business banking with bill pay, cards and expenses.
- Relay also covers bookkeeping.
- 1.6GPA
Rho
Paid
Business banking, corporate cards and expense tools in one app.
- Novo has a free plan. Rho does not.
- Only Novo lists a web app.
- Only Novo lists an Android app.
- 3.6GPA
Brex
Free plan · from $12/mo
Corporate cards, expenses, bill pay and travel for growing companies.
- Novo also covers invoicing.
- Brex also covers reports.
- 2.6GPA
BILL
Free plan · from $49/mo
Part 06 · Questions
Quick answers
The questions people ask about it, each answered in a line or two
13
Questions, each answered in a line or two
The short version of everything above, for when you only need the answer. Each one is told in full in its part of the guide.
Is Novo free?
Yes. Novo is free to use.
How much does Novo cost?
Novo lists one plan. Novo Checking: $0.
What platforms does Novo work on?
Novo is available on Web, iOS and Android.
How is Novo rated?
Novo's iPhone and iPad app averages 4.8 out of 5 from 20,052 ratings on the App Store in the United States, as read on Nov 13, 2026.
Does Novo have a Windows app?
No Windows app was listed when its pages were read on Nov 13, 2026. Novo is listed for Web, iOS and Android.
Does Novo have a macOS app?
No macOS app was listed when its pages were read on Nov 13, 2026. Novo is listed for Web, iOS and Android.
Is Novo open source?
Novo is not described as open source on its own site, as read on Nov 13, 2026.
What does Novo integrate with?
Novo's listing names QuickBooks, Xero, Stripe, Square, PayPal, Shopify, Gusto and Etsy.
Who makes Novo?
Novo is made by a company of the same name.
What are the alternatives to Novo?
The closest alternatives to Novo in our directory are Mercury, Relay, Rho, Brex and BILL.
How does Novo compare with other spend and bill pay tools?
Novo's GPA of 3.0 is higher than 69 of the 76 other spend and bill pay tools we grade, and level with 4.
Is Novo good value for money?
ToolGPA grades Novo A for value for money. Novo has no paid plan.
Could I make my own version of Novo?
Novo is free, so making your own would save you nothing. And it is not the kind of software a weekend replaces.
Where this guide comes from
The prices, plans, platforms and features were read from Novo’s own pages on Nov 13, 2026, and the grades were given on Nov 13, 2026. Graded from this listing, whose facts were read from Novo's own pages on 13 November 2026. Not based on using the product, and shorter than our full reviews.
Every tool we list gets five grades, A to F, each with its reason, and a GPA that averages them. How each is decided is at toolgpa.com/grades. This guide is ToolGPA’s own work; it is not made, paid for or approved by Novo. Prices change, so check novo.co before you buy.
Part 07 · About
About ToolGPA
Who made this guide, what else is on the site, and how to cite it
7,721
Tools graded, in 95 categories
ToolGPA grades software the way a school report grades a pupil: five subjects, a letter for each with the reason written beside it, and a GPA that averages them. Prices, plans and platforms are read from each maker’s own pages and dated, so you always know how fresh a figure is.
Every grade, review and ranking on ToolGPA is our own judgement. No company can pay for a grade or change one. Every tool on the site has a guide like this one, free to download and pass on. It all lives at toolgpa.com.
7,721
tools graded
95
categories
739
price changes on record
579
apps priced in 12 countries
What else is on toolgpa.com
- Novo, kept up to dateEverything in this guide, with prices and grades as they are todaytoolgpa.com/tools/novo
- How grades are givenThe rules behind every letter and every GPAtoolgpa.com/grades
- Value chartsWhat each tool costs against what it scores, for every categorytoolgpa.com/charts
- CompareAny two tools side by side, plan by plantoolgpa.com/compare
- Price changesEvery price rise and cut on record, each with its sourcetoolgpa.com/price-changes
- Prices by countryWhat apps cost on the App Store in 12 countriestoolgpa.com/prices-by-country
- Pay lessEvery public discount: yearly billing, students, nonprofitstoolgpa.com/save
- Keep or makeWhich tools are worth paying for, and which you could build yourselftoolgpa.com/keep-or-make
Scan for the live page
Prices and grades as they are today
Quoting this guide?
Please name ToolGPA and link to the live page, so readers can check the figures for themselves:
ToolGPA, "Novo: The Insider's Guide", checked Nov 13, 2026. https://toolgpa.com/tools/novo
Know someone choosing between spend and bill pay tools?
Send them this guide: toolgpa.com/tools/novo/guide
ToolGPA elsewhere: youtube.com/@toolgpa
See our other guides
The best-graded spend and bill pay tools after Novo, each with an Insider's Guide of its own.
- Spend & Bill Pay Insider's GuideEvery one of the 77 spend and bill pay tools we grade, compared
- Brex Insider's GuideCorporate cards, expenses, bill pay and travel for growing companies3.6 GPA
- Ramp Insider's GuideCorporate cards, expenses, travel and bill pay, with a free plan3.6 GPA
- Airwallex Insider's GuideMulti-currency business accounts, cards, bill pay and expenses3.2 GPA
Choosing software? Every tool graded, every price dated.
Compare tools at toolgpa.com ›Everything in this guide is ToolGPA’s own summary of what Novo’s pages, its app-store listings and public reviews said on the dates shown. Grades are our judgement under the rules at toolgpa.com/grades. Every grade, review and ranking on ToolGPA is our own judgement. No company can pay for a grade or change one. Novo is a trademark of its owner, and this guide is not made, paid for or approved by Novo. Prices and plans change: check novo.co before you buy.