Novo bank Promotions is offering a $40 Novo Sign Up bonus when you open a new account with this Novo promo code. Novo bank Users can also take advantage of another $40 Novo Referral Bonus with Novo Bank Refer a Friend Program.
Novo is an online business banking platform with no hidden fees built for small business owners. Apply for a free Novo checking account.
Check out our bank bonuses page for more current offers. Envel Bank, Oxygen Bank, and GO2Bank offer the most popular offers.
Novo Sign Up Bonus: $40 Free Bonus
When you open a Novo business checking account through our special link and deposit $100 or more within 30 days, you will receive a $40 bonus automatically credited to your account.
How to Claim a $40 Sign-Up Bonus?
- Download the Novo mobile app (available on iOS and Android).
- Enter your business email and password to create an account.
- Below you’ll see the option to “enter referral code. “
- Enter the Novo referral code “CBEGRIP” and click on apply.
- Fund your account within 30 days of opening it with $100 or more.
- You can also use the Novo referral link to sign up (bonus auto-applied) and claim your bonus.
(You can refer up to 10 people in a calendar year and can make up to $400 from the Novo referral program)
Novo Bank Features
Novo Bank is a fintech company that offers online business checking accounts for small businesses. Some of the features of Novo Bank are:
- No monthly fees or minimum balance requirements
- Free ACH transfers, mailed checks, incoming wires, and ATM fee reimbursements
- A debit card that can link to a digital wallet
- Integrations with popular business software such as Xero, Slack, Stripe, Shopify, and QuickBooks
- Invoicing and international payments capabilities
- Reserves feature that allows targeted savings
- Virtual card and Boost feature that offer security and cashback rewards
PROS & CONS
PROS
- Lack of fees
- Robust banking capabilities
- Third-party integrations
- Easy to use
- Quick onboarding
- QuickBooks, Xero, & Stripe integration
CONS
- No ATM network
- No cash deposit
- Fairly new
- Only one account option
See also: $10 sign up bonus app And apps that pay $50 sign up bonus or more.
Is Novo Bank legit?
Novo Bank is a legitimate fintech company that offers online business checking accounts. The company partners with Middlesex Federal Savings, a 130-year-old bank insured by the FDIC up to $250,000. It has been featured in the Wall Street Journal, Market Insider, and Fortune, and has received mostly positive reviews from customers on Trustpilot.
Business owners can take advantage of Novo’s no-fee ACH transfers and wire transfers, integrations with popular business software, invoicing and international payments capabilities, and reimbursement for ATM fees.
While Novo is a safe and legit option for business checking, it may not be suitable for everyone. Novo lacks interest, cash deposits, overdraft protection, and in-person banking, which are some of its drawbacks.
Conclusion
Novo is a great option for new business owners struggling with finances. With Novo smart insight features, they can manage everything in one place. Novo bank is also offering new customers a $40 sign up bonus to open an account and fund their accounts using the Novo referral code.
Referral bonuses for Novo are $40 for both the referrer and the referee, unless they do not meet the requirements outlined in the Novo Referral Program Terms & Conditions.
FAQ
What is the minimum deposit to open a Novo account?
To open a Novo account, you must deposit $100, but you do not need to maintain a minimum balance. According to the Novo website and some reviews, a $100 deposit unlocks Novo Boost, which allows you to receive Stripe payouts up to two days early.