Novo business checking is best for small-business owners…El Novo…
Prefer to handle their financial resources online and do not need to deposit cash on a regular basis.
To see you are you a small business owner or have you started a side hustle and now you’re looking for an exceptional business bank account well are you did you well you are in luck my friend as i think i have found an exceptional banking alternative for you i’m talking about novobank not only am i discussing novo but i in fact utilize novo i have an account with them for this here youtube channel i will earn money from youtube for ads shown on this video in to my novo account which this video has to do with what a wild world we reside in are you talking about inception that’s right morty this is gon na be a lot like that other than you know it’s gon na make good sense but before i get to the video let me leap directly into a spoiler alert novobank is among my preferred choices for business banking right now their functions are very competitive and the benefits they provide truly make them stand out so they get a huge fat recommendation from me with just a couple of very small cautions if you desire more detail than that and i’m thinking you do then stick around for the rest of the video due to the fact that i’ll dive into what makes novo distinct what the advantages and disadvantages are and whether.
you need to think about banking with them or not or not well fine on with the video if you enjoyed my video rounding up my favorite business savings account you ‘d understand that a person of the banks i recommended was aslo bank and if you didn’t view that video then check it out right up here it’s excellent you must watch it you ‘d likewise discover in that video i didn’t talk about novo i actually liked novo but i simply couldn’t fit them or any others into my video at the time given that the features were so similar to aslo i selected not to include them aslo likewise had a few features that i felt were standout features that nova was lacking however i’m happy to report that that’s no longer the case and i’ll get more on that in a bit likewise the other factor i’m speaking about aslo bank in this video is since they are on my business savings account video list of leading accounts however they have given that gone out of business and i seem like novo is the absolute finest choice to replace them.
no those found in 2016 like many other modern-day banks they aren’t in fact a bank at all their tech company that has partnered with a bank in this case they have partnered with middlesex federal savings for the actual banking part i won’t make any jokes here i’m an adult excellent lord even though i seldom act like one anyways novo the tech company covers all the elegant software you connect with daily possibly you haven’t heard of middlesex federal cost savings well you aren’t alone i hadn’t either but don’t worry they are pretty established they have been around for 130 years whoa and they are a very trusted bank so your cash in novo is fdic insured so it is extremely safe to save there nova was built particularly for small business owners entrepreneurs and freelancers they support those who operate as actual business entities like a corporation s corp or llc or just those who are sole owners slash freelancers their business account just needs 50 to open has no minimum balance and no month-to-month fee in fact they are completely no charge across the board except for 2 exceptions inadequate funds charged and uncollected funds returned both charges are.
currently 27 i do not love when banks have insufficient fund fees however offered they have generally no other charges i do not believe it’s that huge of an offer since if you’re accountable with your money you should not experience these charges in the first place their core offering is a business bank account with a debit card a beautiful killer feature with their debit card is that you can use any atm they will reimburse any atm costs you pay at the end of monthly back into your account yes even that sketchy atm at the back of the convenience store that looks like it was built in 1980 that they utilized to prop open their storage closet door they’ll reimburse that atm charge too it’s amazing it’s exceptionally easy to sign up for an account without any vote you can do it in just a couple of minutes online quickly as all bank account openings should be they have a terrific looking app that’s well reviewed by their clients in the app shops it allows you to see an overview of your account transfer cash instantly deposit checks and other common features i find it very easy to use and it has all the functions i ‘d anticipate from a banking app another cool function of their account is all the combinations they support is their combinations they support wow they have El Novocombinations with transferwise slack xero stripe wise quickbooks and shopify these have a range of terrific features for example the stripe integration enables you to see your stripe balance and transfers right from your novo account also they have an excellent perk where if you link your account.
with stripe you get twenty thousand dollars in charge free credit card processing that alone might save you five hundred dollars in fees that alone can save you money they’re likewise including immediate payments with stripes soon so instead of waiting for the funds to clear they will be right away available in your account it’s really similar to what some banks are doing with personal bank account and enabling you to get your income a few days early speaking of benefits they have a lot they provide advantages for stripe google cloud gusto quickbooks and godaddy to call simply a couple of these variety from cash cost savings to yearly discounts to add credits to extended complimentary trials there’s a ton of value here so definitely examine them all out to see if there’s something on the list you’re already considering utilizing one of the greatest things keeping back on fully recommending novo was that they didn’t offer subaccounts or invoicing when i very first took a look at them two functions i worth very extremely with a business account sub accounts particularly are extremely essential to me as i like to set aside and conserve cash for paying taxes i want this separate from my primary account so that i don’t touch it or invest it you don’t wish to cross those money streams there’s something very crucial i forgot to tell you what don’t cross the streams well the excellent news is that novo now offers these features too their sub accounts.