--- title: "What Do You Need to Open a Novo Account? | Novo" description: "Open a Novo business checking account in minutes, securely, and easily with no minimum balance requirements. Read on to see our eligibility requirements." canonical: "https://www.novo.co/learn/what-do-you-need-to-open-a-novo-account" --- ![What Do You Need to Open a Novo Account?](https://cdn.sanity.io/images/qbkov2y8/production/343ffe74b2f5d469c8889eff783baec716c3ea6e-1920x1278.jpg?w=2048&q=82&fm=webp&fit=max) ## What Do You Need to Open a Novo Account? Novo Features Date November 5, 2018 Author Adrian Harris - - - - ![What Do You Need to Open a Novo Account?](https://cdn.sanity.io/images/qbkov2y8/production/343ffe74b2f5d469c8889eff783baec716c3ea6e-1920x1278.jpg?w=2048&q=82&fm=webp&fit=max) Thousands of freelancers, start-up founders, and small business owners alike have been opening Novo business checking accounts in minutes, securely and easily with no minimum balance requirements. Read on to see our eligibility requirements to open a Novo [business checking account](https://www.novo.co/business-checking). If you are also exploring your options, see [what do you need to open a business checking account](https://www.novo.co/blog/opening-a-business-checking-account) and how to get started with the [Novo mobile app](https://www.novo.co/mobile-apps). ### Can I get a Novo account if I’m not a business owner? **No**, we only cater to entrepreneurs, so if you want an account, you’ll need to own at least part of a business or start a new one. Are you ready for entrepreneurship? Well, if you’re already running a business, we’ll help you save money — we won’t charge you any sneaky fees, make you pay to use ATMs, or require you to maintain a minimum balance. We’re here for you 24/7 in our convenient Novo app that goes everywhere you do. ### Are there any industries that Novo doesn't support? **Yes**, Novo doesn’t support businesses that deal in providing or exchanging cryptocurrency, privately owned ATMs, money services, unlawful internet gambling, or cannabis sales. ### What are Novo’s eligibility requirements for opening an account? To apply for a Novo [small business banking account](https://www.novo.co/learn/how-to-open-small-business-bank-account) you need to have a business registered in the US. You must be able to prove that your business is registered as a: - Sole Proprietorship - LLC - Corporation - General Partnership - Non-profit Organization ### Can I open a personal banking account with Novo? **No**, Novo only provides a business bank account and NOT personal banking solutions. However, there are a ton of personal mobile banking options like Chime which is pretty cool. ### Can I apply for a Novo account if I am not a US citizen? **Yes**, you can. Novo caters to all LLC, partnership, and corporation owners living in the United States. If you are not a U.S. citizen, we’ll need to verify that you live here which you can prove by providing a W8. You must be a U.S. citizen to open a sole proprietorship account with Novo.In the Novo application process, you’ll need to provide some personal and business details (when applicable), like your Articles of Incorporation, Employer Identification Number (EIN) if you have one (which is like a social security number for your business), and/or a signed Operating Agreement. ### The Takeaway If you are running a start-up and need a new way to manage your business finances, apply for a [Novo account today](https://onboarding.novo.co/signup). We love to help entrepreneurs turn their big ideas into reality since we are hustlers just like you! ‍ *Novo Platform Inc. strives to provide accurate information but cannot guarantee that this content is correct, complete, or up-to-date. This page is for informational purposes only and is not financial or legal advice nor an endorsement of any third-party products or services. All products and services are presented without warranty. Novo Platform Inc. does not provide any financial or legal advice, and you should consult your own financial, legal, or tax advisors.* \[@portabletext/react\] Unknown block type "media", specify a component for it in the \`components.types\` prop ‍ --- Copyright © 2026 Novo Platform Inc. Novo Platform Inc. (“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC. Eligible deposits are insured up to $5,000,000 per depositor through Middlesex Federal Savings, F.A., Member FDIC, and other banks in its sweep network. The Novo Debit Card is issued by Middlesex Federal Savings, F.A., and the Novo Business Credit Card™ is issued by Continental Bank, pursuant to licenses from Mastercard® International Incorporated. Mastercard is a registered trademark of Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Eligibility subject to final Novo determination. The Novo Merchant Cash Advance is offered by Novo Funding LLC. Your eligibility for Novo products and services is subject to final Novo determination. \*Earn 2% cashback on eligible purchases with a Novo checking account balance of $5,000 or more, and 1% cashback with a balance of under $5,000. The Novo Business Loan™ is issued by Continental Bank. All loan approvals are subject to credit criteria and underwriting; terms and conditions apply. APR, loan amount, and repayment terms are based on your creditworthiness and will be disclosed at the time of your loan offer. You may prepay your loan in full or make additional payments at any time without penalty. Paid customer testimonials reflect individual experiences. Some links on this site may redirect you to third-party websites with different privacy and security practices. Novo is not responsible for the content or policies of external sites. Paid customer testimonials reflect individual experiences. [Privacy Policy](https://www.novo.co/legal/privacy) [Accessibility Statement](https://www.novo.co/legal/accessibility-statement)