Novo Banking is an online business banking platform that’s ideal for small businesses. I went with this option because I was in-between addresses when my business began and Novo offered an easy way to get started.
Here are a few things that set it apart from other banks
- You can set up an account easily online within minutes.
- It has no, monthly fees and no minimum balance. You can open an account with just a few bucks.
- It offers free ATM Access. Novo will reimburse any fees you are charged from other banks at the end of the month.
- Unlimited transactions. Most local banks will limit your transactions per month, or charge you extra.
- You can use a virtual debit card from day one. while waiting for your card to come in the mail.
- They offer card controls such as travel notice, lock your card, and get notifications about activity.
- You can set up budgets and allocate a certain amount from each deposit for reserves. This lets you set aside what you need for taxes, business expenses, etc.
All these features and more keep my costs down and make running my business easier. What started as a temporary convenience ended up being a wise business decision.
If you are looking for a bank for your small business or self-employed needs, check them out here https://www.novo.co/
Do you use an online banking platform? What benefits does your bank offer?