Novo
Novo Business Checking
Truly free checking with invoicing and faster Stripe payouts built in
Insurance: FDIC insured up to $250,000 through Middlesex Federal Savings (no sweep network)
Features
- ▸Unlimited free invoicing with payment acceptance
- ▸Novo Boost speeds up Stripe payouts by 2-4 business days at no cost
- ▸Reserves: envelope-style buckets for taxes, payroll, and profit
- ▸AI-assisted bookkeeping and expense categorization
- ▸Integrations with Stripe, Shopify, Amazon, Etsy, WooCommerce, and QuickBooks
- ▸Novo Funding working-capital offers for established accounts
Pros
- +Zero fees across the board with no balance hurdles
- +Best-in-class invoicing and e-commerce integrations for a free account
- +ATM fee refunds beat most fintech rivals' no-network story
- +Boost is genuinely valuable for Stripe-heavy sellers
Cons
- −No interest anywhere, on any balance
- −Only $250k FDIC coverage with no sweep program
- −No cash deposits and outgoing domestic wires are still beta-gated
- −No phone support outside of fraud issues
Our Take
Novo is a solid free checking account wrapped around an excellent invoicing and e-commerce toolkit, and the $7 monthly ATM refund is a nice touch. But it pays no interest and caps FDIC coverage at the standard $250k, so it loses on both yield and safety margin to Bluevine and Relay. Pick it if Boost or the invoicing suite is the feature you actually live in.
Best for: Freelancers and e-commerce sellers who invoice through Stripe
Open at Novo →Last verified 2026-06-11
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