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Novo

Novo: Free Business Checking With Reserves for Tax and Operating Cash

A $0 monthly business checking account that helps freelancers and small shops wall off tax and savings reserves without juggling multiple personal accounts.

Last updated October 11, 2026

Novo business checking dashboard

At a Glance

  1. No monthly fee and no minimum balance
  2. Reserves feature for tax set-asides and goals
  3. Strong integrations with Stripe and commerce tools
  4. Debit card and mobile banking for day-to-day spend
  5. Editorial pricing — confirm fees on Novo.co

Key Features

  • Integrates with Stripe
  • Integrates with Shopify
  • Integrates with QuickBooks
  • Integrates with Xero
  • Integrates with Gusto
  • Available on Web
  • Available on iOS
  • Available on Android

Plans & Pricing

Business Checking

$0 /mo

  • No monthly maintenance fee
  • No minimum balance requirement
  • Business debit card
  • Reserves for tax and savings goals
  • Integrations with Stripe, Shopify, and accounting tools
  • Invoicing via Novo Boost ecosystem

Our Verdict

Strengths

  • True free checking without a paid upsell wall for basics
  • Reserves make quarterly tax buckets visible
  • Integrations help when you already sell online or invoice via Stripe
  • Clean dashboard for freelancers who want less fintech clutter

Limitations

  • Built-in tax estimation may feel lighter than Found’s tax-first UX
  • Not a branch bank for cash-heavy retail
  • Some features live in add-on Boost tools — check what’s included
  • Does not replace a CPA or full accounting suite

Who It's For

Best for

  • Freelancers and online sellers who want free business checking
  • Gig and client workers who already use Stripe or Shopify
  • Anyone separating tax reserves from operating cash

Consider alternatives if

  • Businesses that need frequent cash deposits
  • Complex multi-entity structures needing commercial treasury
  • Users searching for investment or lending advice

Compare Similar Products

Found Business Banking A no-monthly-fee business account that estimates quarterly taxes from your deposits and helps you park set-asides before they disappear into personal spend.

View full comparison →

Frequently Asked Questions

Is Novo really free?

Novo advertises no monthly maintenance fee and no minimum balance. Third-party ATM, wire, and partner fees can still apply — read the fee schedule before funding the account.

Can I set aside money for quarterly taxes?

Yes. Novo Reserves lets you earmark funds for taxes and other goals. Estimates still need to be checked against your Schedule C reality with tax software or a professional.

Found vs Novo — which should gig workers pick?

Choose Found if tax estimation and gig-oriented bookkeeping are the priority. Choose Novo if you want free checking with strong commerce integrations and simple reserves. Compare both fee schedules side by side.

Data Sources

Specifications and pricing are verified against the following sources.