Running a pet store means juggling revenue from a lot of places at once: the register, the Shopify store, grooming appointments booked through Square, subscription boxes that renew monthly, and the occasional cash tip at the grooming counter. On the other side of the ledger, you're paying wholesalers like Phillips Pet Food and Central Garden Products, covering rent on retail space, and buying inventory that ties up cash for weeks before it sells.

The best business banking option for pet store owners pulls that money into one account, connects directly to the tools you already use, and charges a $0 monthly account fee. The main tradeoff is cash: Novo does not accept cash deposits, so cash-heavy pet stores need a second account at a bank with local branches.

Novo Platform Inc. is a fintech, not a bank. Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC.

What do pet store owners need from a business bank?

A pet store's money moves differently than a pure e-commerce shop or a pure service business. You need a business banking account that handles in-store retail, online sales, and grooming services at the same time.

Money in comes from at least four channels. In-store card sales through Square or Clover, online orders through Shopify, grooming appointments booked and paid through Square Appointments or Stripe, and any subscription-box or membership revenue. If each of those payouts lands in a different place, month-end reconciliation becomes a full workday.

Money out goes primarily to wholesalers and payroll. Phillips Pet Food, Central Garden Products, Animal Supply Company, and similar distributors expect payment by ACH or check on net-15 or net-30 terms. Paying by wire or per-transfer ACH fees adds up fast when you're placing weekly food orders.

Your LLC only protects you if the accounts are separate. If a customer's dog bites someone in the store, or someone slips on a wet floor and sues, a commingled personal-and-business account gives the plaintiff's lawyer an easy argument that the LLC is a sham. A separate business account for LLC owners helps maintain the distinction between the owner and the LLC.

Cash is the honest tradeoff. Most brick-and-mortar pet stores still see some walk-in cash: grooming tips, small accessory sales, the occasional customer who prefers not to swipe. Any account you pick needs a workable answer for cash, even if the answer is "use a second account."

What features should pet store owners compare?

When you're evaluating business banking for a pet store, the feature list that actually matters is short.

Monthly fees and minimums. Many traditional business checking accounts charge monthly maintenance fees unless you meet balance or activity requirements. For a pet store running tight margins on food and supplies, that's real money.

FDIC insurance and where your money actually sits.

For fintech accounts, know which partner bank holds the deposits. It's disclosed in the account agreement.

Transfer pricing. Wires, mailed paper checks, and outgoing ACH each have their own price at most banks. Pet stores pay vendors frequently, so per-transaction fees compound.

POS and e-commerce integrations. Direct connections to Shopify, Square, and Stripe mean payouts land in your business account without CSV exports or Plaid-only workarounds. Direct QuickBooks or Xero connections mean your bookkeeper isn't rebuilding transaction categories every month.

Cash deposit policy. Some banks accept cash at any branch. Some only accept it at your home branch. Some (including Novo) don't accept cash at all. Match this to how much cash your store actually rings up.

Invoicing and expense tools. Useful if you do B2B work, like supplying a local vet's office, wholesaling to a groomer, or invoicing a boarding kennel.

Why does Novo work for pet store owners?

Novo is a business banking platform for small businesses that rely on software, which fits pet stores that use Shopify, Square, Stripe, QuickBooks, or Xero.

No monthly fees and no minimum balance. Novo charges a $0 monthly account fee and has no minimum balance requirement. Cash sitting in your account is cash you can spend on inventory.

Direct integrations with the pet-retail stack. Novo connects directly with Shopify, Stripe, Square, QuickBooks, and Xero. Shopify payouts and Square grooming-appointment revenue land in the same account you pay Phillips Pet Food from. Transactions sync to QuickBooks or Xero automatically.

No-fee ACH, in and out. Send an ACH payment to your wholesaler at no cost. Receive Shopify payouts and Stripe payouts at no cost. Incoming wires arrive at no cost too, which matters if a B2B customer or a supplier rebate arrives by wire.

Novo Reserves for sales tax and inventory. Reserves let you split your balance into named buckets inside the same Novo checking account. Most pet store owners set up one for state sales tax (so you don't accidentally spend money you owe the state), one for the next wholesale food order, and one for quarterly estimated taxes.

FDIC insurance through Middlesex Federal Savings. Deposits are insured for up to $250,000 through Novo's partner bank, Middlesex Federal Savings, F.A., Member FDIC. Coverage is calculated per depositor, per insured bank, per ownership category.

The honest limitation: no cash deposits. Novo doesn't accept cash. If your store rings up more than a few hundred dollars in cash a week, you'll need a second account at a bank with a nearby branch, and you'll ACH the cash balance to Novo weekly.

How should pet stores handle cash deposits?

Walk-in cash isn't dead. Grooming tips, impulse buys at the counter, and a $12 collar someone grabs on the way out mean a decent chunk of brick-and-mortar pet retail still runs through the register in bills.

Use this cash workflow if Novo is your primary account and your store still accepts bills at the register.

Open a no-frills checking account at a local bank or credit union. Community banks and credit unions often have low-cost or no-cost business checking with a branch a few blocks from your store. This account only exists to accept cash deposits.

Deposit cash there once or twice a week. Whatever your register accumulates, run it to the branch during your normal errand loop.

ACH the balance to Novo. Once the cash clears (usually next business day), initiate an ACH transfer from the local account into Novo. This becomes your operating account for paying vendors, tracking Shopify payouts, and running bookkeeping.

For very low cash volumes, compare cash-conversion options. If you're only handling $100–$200 of cash a week, compare the cost of a local cash-deposit account against options like buying a money order and depositing it via mobile check. Confirm current mobile deposit policy with Novo support before relying on that route.

When to skip Novo as your primary account. If cash makes up the majority of your revenue, for example in a rural market with low card penetration or a specialty store where many customers pay cash for high-ticket items, a traditional bank with a nearby branch is likely the better primary account. Novo is built for card and digital revenue with occasional cash on the side.

How do you open a business account for your pet store?

The setup sequence for a new pet store owner opening a business bank account looks like this.

Form your LLC or corporation with your state. Filing fees range from about $50 to $500 depending on your state. Most single-owner pet stores file an LLC because it's simpler and gives you personal liability protection.

Get an EIN from the IRS at no cost.

The online application is completed in one session and you get the number immediately.

Gather your documents. You'll need your formation documents (articles of organization for an LLC, articles of incorporation for a corporation), your EIN confirmation letter (Form CP 575 from the IRS), and a government-issued ID. For a complete list, see the business checking account requirements checklist.

Apply online. Novo says most applicants can complete the online business checking application in about 10 minutes. Sole proprietors can open a Novo business account with an SSN; LLCs and corporations need an EIN.

Connect your tools on day one. Log into Novo, connect Shopify for online sales, Square for in-store card sales and grooming appointments, Stripe if you use it for recurring billing, and QuickBooks or Xero for bookkeeping. Payouts start landing in Novo and transactions start categorizing automatically.

What should a pet store ACH remittance include?

If you're paying wholesale food and supply distributors, keeping a consistent ACH remittance format helps them apply payments correctly and keeps your bookkeeper sane.

VENDOR PAYMENT — ACH REMITTANCE

Vendor: [Vendor legal name]
Vendor Account #: [your account number with the vendor]
Payment Date: [YYYY-MM-DD]
Payment Amount: $[amount]

Invoices Paid:
  Invoice #    Invoice Date    Amount      Notes
  [INV-1234]   [YYYY-MM-DD]    $[amount]   [PO # or note]
  [INV-1235]   [YYYY-MM-DD]    $[amount]   [PO # or note]

Total Remitted: $[total]

Remit-to contact: [Your name]
Store: [Your legal business name]
Store account with vendor: [Account #]

To turn this into a spreadsheet, copy the fields into Excel or Google Sheets, add a totals formula, and keep vendor account numbers out of any third-party AI tool unless your business has approved that use.

Frequently Asked Questions

Can I use a personal account for my pet store?

No. Mixing personal and business money can weaken the separation between you and your LLC and makes tax filing harder. The U.S. Small Business Administration recommends a separate business bank account to help protect personal assets and simplify tax filing.

The concrete risk for a pet store: if a customer slips on a wet floor, gets bitten by another customer's dog in your aisle, or has any other incident that leads to a lawsuit, a commingled account can be used as evidence in an argument that the LLC should not shield personal assets. Open a separate business versus personal checking account before you make your first sale.

Do I need an LLC to open a business bank account?

No. Sole proprietors can open a Novo business account with an SSN; LLCs and corporations need an EIN from the IRS. That said, forming an LLC is worth it for most pet stores because it separates your personal assets from the business. Retail with in-person foot traffic and live animals carries real liability, so many pet store owners form an LLC to separate business obligations from personal assets. The EIN itself is issued at no cost by the IRS.

How does Novo handle Shopify and Stripe payouts?

Novo can receive Shopify, Stripe, and Square payouts as ACH deposits; payout timing depends on the processor's schedule and your account settings. Grooming appointments booked and charged through Square work the same way, and Square payouts route to Novo on their normal schedule. All three integrations are direct, not a Plaid-only workaround, so payouts arrive as identifiable Shopify, Stripe, or Square deposits rather than generic ACH credits.

What if my pet store takes a lot of cash?

Novo doesn't accept cash deposits, so a cash-heavy pet store should either keep a second account at a bank with local branches or use Novo alongside a cash-accepting partner. The workflow: deposit cash at the partner bank one or two times a week, then ACH the balance to Novo, which stays your operating account for card revenue, vendor payments, and bookkeeping. If you're depositing cash multiple times a week and cash is a large share of revenue, Novo is the wrong primary account and a traditional bank with a nearby branch is a better fit.

Is Novo FDIC insured?

Yes. Novo deposits are FDIC insured up to $250,000 per depositor, per insured bank, per ownership category through Novo's partner bank, Middlesex Federal Savings, F.A., Member FDIC. Official coverage rules and calculators are on FDIC.gov.

Are ACH payments to my wholesalers safe?

ACH is a widely used rail for paying wholesale vendors and is governed by Nacha operating rules that include return and dispute procedures.

The main risk is vendor impersonation fraud, where someone sends fake wire or ACH instructions that appear to come from a real supplier. A 2022 FBI Internet Crime Complaint Center alert flagged business email compromise as a major loss category for small businesses.

Verify new payment instructions by calling a known phone number for the vendor, not the number in the email requesting the change. For more, see Novo's guide to ACH fraud prevention.

Is Novo the best bank for pet store owners?

For a pet store that runs card sales, a Shopify store, and grooming appointments, and pays wholesalers by ACH, Novo is a strong fit: $0 monthly account fee, direct integrations with Shopify, Stripe, Square, QuickBooks, and Xero, no-fee ACH and no-fee incoming wires, and FDIC insurance up to $250,000 through Middlesex Federal Savings, F.A., Member FDIC. The one caveat is cash. If your register takes meaningful cash, plan on a second account at a local bank or credit union that accepts cash deposits, and use Novo as the operating account you ACH into weekly.