One of the number one questions I get from new entrepreneurs is “where do you do your business banking?”. The answer had always been with a large bank and it was basically a shoulder shrug situation. “It works”. Would I recommend it…meh. Enter NOVO Bank, an online based bank for small business.
After years with my current bank, it was time to decide on something for the Beyond Boss accounts…during COVID time when getting a business banking appointment at a bank branch was a monumental pain in the rear. I wanted something easier, and so I went on the hunt for a business that would allow me to do the application process online, which is when I landed on NOVO.
A few awesome business banking features that sold me:
The application process takes about 10 minutes. Our account was active and ready to rock in about 24 hours once funded. No appointment at a branch, no sitting at a desk for an hour doing paperwork.
They offer “Envelopes” that allow you to put money aside for things like taxes and large purchases without opening a separate account. As entrepreneurs we know that setting aside the cash for taxes can be a monumental pain in the butt, and this makes it easy.
They offer the ability to do invoicing, which rocks.
Unlimited transactions, no monthly fees, they integrate with Quickbooks and Xero, and their mobile app is sleek and easy to use.
Most importantly, the debit card is matte black. Sleek AF.
The bottom line is that this bank is built for US. A better user experience for young entrepreneurs that want user friendly features and integrations, sleek design, and ease of use.
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