T

he right banking partner can significantly impact your small business’s success. That’s why it’s crucial to find a business banking platform you can rely on that is built specifically for the unique needs of small businesses.

Brex may no longer support businesses that they deem too small or unimportant, but Novo is here for the long run as your banking partner. We are committed to all of our small business customers. Novo proudly serves a diversity of small businesses, from established startups and corporations to sole proprietors and single-member LLCs.

Whether Brex has abandoned your business or you’re simply researching alternatives to Brex, we are excited to offer exclusive perks to Brex account holders that switch to Novo. Any small business coming directly from Brex is entitled to free Express ACH for the next 3 months, as well as access to account limits that enable you to run your business at your speed. Kickstart your cash flow when you switch to Novo.

Read on for the key reasons why Novo is the top Brex alternative  – and why more than 160,000 small businesses already choose Novo.

Why is Novo a Top Brex Alternative?

Novo is Built for Small Businesses

Novo offers an award-winning, powerful, and free business checking account for small businesses. Experience all the benefits of modern business banking without hidden fees, annual fees, or account minimums. 

As a mobile-first business banking platform, we offer you the freedom to view and manage your business finances from the palm of your hand. Novo is available on iOS and Android so that you can do your business banking anywhere, anytime. Check out our mobile app: Novo for iOS or Novo for Android

We also make your security and peace of mind a top priority. With Novo, your money is FDIC insured through our banking partner, and your information is secure with bank-grade encryption. 

95% Faster Cash Flow for Stripe Users with Novo Boost

Receive payments up to 95% faster than with a standard checking account. Novo Boost is a completely free feature available to all Novo customers who receive payments from Stripe. A payout process that could ordinarily take 3 or more days now happens in a fraction of the time, vastly reducing cash flow friction and enabling our customers to reinvest for growth. Learn more about faster money movement with Novo Boost

Unlike Brex Instant Payouts, Novo Boost doesn’t cost a cent. No more leveraging your sales just to get paid faster!

Express ACH Transfers

While typical ACH transfers take between 1 and 3 days to process, Express ACH with Novo enables you to initiate same-day and next-day ACH transfers. Significantly reduce waiting time and free up your cash flow. 

Coming from Brex? We’re waiving Express ACH fees for 3 months for all accounts with a verified Brex connection through Plaid API. (For a nominal fee, all other customers can select either a same-day or a next-day ACH transfer.) 

Novo’s Express ACH transfers are an excellent alternative to Zelle. We currently don’t support Zelle on our platform, but emerging payment technologies are on our roadmap for the future.

Business Debit Cards

Novo offers a physical business debit card and a virtual card free of charge with your Novo account. For faster cash flow and immediate access to business funds, the Novo Virtual Card is available to activate as soon as you open your account. The Novo Virtual Card is usable for both online and in-person purchases, and it can connect instantly with Apple and Google pay. Learn more about the Novo Virtual Card

Coming from Brex? With a verified Brex connection through Plaid API, we’ll right-size your limits for your business.

Integrations and Connections with Thousands of Business Tools

With over a dozen native integrations and over one thousand connection options, Novo makes it easy to streamline essential workflows for your business. We offer integrations with the leading small business software, from payment processing and point-of-sale to taxes, bookkeeping, e-commerce, and more.

Some of our most popular integration options include Stripe, PayPal, Square, Shopify, Etsy, QuickBooks, Xero, and Slack. The integrations offered in our App Marketplace are available to all Novo customers, and we do not charge for access to any of our integrations. Learn more about Novo Integrations

Novo is modern banking, built for small businesses. Sign up for Novo to accelerate your business growth.

Novo Reserves

Automatically set aside funds for business expenses with our unique Reserves feature. From tax preparation to budgeting to accounting and more, allocate your funds to up to 10 reserves of your choice. Novo Reserves provides small businesses greater flexibility, predictability, and control when managing business finances. Learn more about Novo Reserves

Low-Cost International Transfers with our Wise Integration

Novo makes international business banking a breeze. Easily set up our Wise integration – you can even sign up for a Wise for Business account directly in the Novo app – to make cheaper, faster payments around the world. Learn more about our Wise Integration

Instant Access to $5,000+ in Savings

Like you, we know how important every dollar is as you grow and scale your business. From $20,000 in fee-free card processing on Stripe to 30% off your first-year HubSpot subscription (and 15% off every year after that), you automatically unlock over a dozen perks with your new Novo account. Learn more about saving over $5,000 for your business with Novo Perks.

Seamless and Customizable Invoicing 

Novo makes getting paid easier. Our free invoicing feature allows you to create and send an unlimited number of invoices right from your Novo App. Customize, send, and track invoices – and even create duplicates for recurring payments. Learn more about Novo Invoicing.

Banking as Innovative as You Are

At Novo, we live and breathe innovation. Our team is dedicated to providing a best-in-class, modern business banking platform to empower our customers. Not only do we release new features and integrations regularly, but we continuously improve upon our existing product offerings. We’re also proud to offer human-powered customer service.

The best part? We take your feedback seriously. We’re always interested in hearing from our customers about what they’d like to see next from us.

Give your business an edge with Novo.

Updated 
July 3, 2022
 in 
Banking 101
 category