Novo Business Banking: 10 Reasons why women-owned businesses should bank with Novo
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According to the National Women’s Business Council, women-owned businesses make up 38% of all businesses in the U.S.. Suppose you’re a woman entrepreneur and your clients are mostly other women. In that case, it makes sense that you’d want to use a business banking option that caters specifically to female-owned businesses.
In this post, we’ll go over why women-owned businesses should consider using Novo Business Banking—and how it can help them save time and money while maintaining their high level of customer service.
CHOOSING A BANK FOR YOUR WOMEN-OWNED BUSINESS
Choosing a bank for your women-owned business can be an overwhelming process. There are so many options out there, and you don’t want to make the wrong decision.
When it comes down to it, choosing which bank will be right for your business is all about finding the one that will help your company grow and thrive both now and in the future. To make sure that happens, you must find a partner who has access to tools such as:
- Business financing (including lines of credit)
- Merchant services (for accepting credit cards)
- Online banking (to make bill payments easier)
Here are 10 reasons why women-owned businesses should use NOVO business banking:
1. NO HIDDEN OR MONTHLY FEES
One of the best things about Novo Business Banking is that there are no hidden or monthly fees. As a woman-owned business, you’ll find it difficult to keep track of all your income and expenses as well as your finances when you’re working hard on other aspects of running your company. With Novo Business Banking, however, they will take care of every single one of these tasks so that all you need to worry about is what’s important: making sure your women-owned business runs smoothly
2. NO MINIMUM BALANCE REQUIREMENTS
Novo Business Banking has no minimum balance requirements, making starting easier. You won’t have to worry about keeping large sums of money in your account, which can be difficult if you aren’t seeing many transactions or don’t have regular cash flow.
This also means you won’t have to worry about maintaining large balances, which can be a hassle for small businesses.
3. REFUNDS ALL ATM FEES
The third reason women-owned businesses should use Novo is that it refunds all ATM fees. This can add up quickly, especially for those who frequently travel for business or have an entrepreneurial idea that takes us away from our home base.
If you have a Novo Business Banking account, you can withdraw cash at any ATM with your debit card—no matter which bank owns it—and the bank will refund the fee. You can also use this feature when traveling out of town: If you go to a different state and find yourself faced with higher ATM fees, just use your Novo Business Debit Card at any ATM there (or anywhere in the world) to get your fee back right away.
4. SIMPLE, EASY-TO-USE MOBILE APPS
NOVO business banking has simple, easy-to-use mobile apps for iPhone, Android, and Windows Phones. You can use these apps to:
- Check your account balance.
- Transfer money between accounts.
- Pay bills at the touch of a button.
- Deposit checks using your phone’s camera—no more waiting in line at an ATM!
These features make it easier to manage your finances on the go: no more having to wait until you get home or access an Internet connection before you find out how much money you have left in your account or if that check made it through without bouncing. This can help women who run small businesses stay on top of their finances while away from their desktops or laptops (and who doesn’t want that?).
5. HUMAN-POWERED CUSTOMER SERVICE
You’re a busy woman. You have lots to do every day, and it feels like you never have enough hours in the day. So, when you need help with something, having to wait on hold for 20 minutes or more just isn’t an option—even if the problem is minor. This is especially true with business banking because time equals money.
Novo business banking has a human-powered customer service team that provides 24/7 support via phone, chat, and social media channels in multiple languages. They can answer questions about your accounts and help you get through technical issues as quickly as possible so that you can get back to running your business instead of waiting on hold for answers or instructions from automated systems.
6. FREE TRANSFERS, MAILED CHECKS, AND INCOMING WIRES
Novo business banking offers free transfers, mailed checks, and incoming wires. Suppose you’re a woman business owner with one or more employees paid by electronic bank transfer. In that case, you know how much time it can take to manually enter those payments into QuickBooks or another accounting software program.
Novo business banking makes it easy: transfers happen automatically, and there’s no charge for them. Plus, if you like to have hard copies of payroll checks in your office (and we know lots of small businesses do!), there is no need to worry about printing out the checks or having someone else do it for you—you can have Novo mail them directly from their headquarters at no cost to yourself! And if someone wants to wire money into your account? That’s free too!
7. INTEGRATES WITH OTHER SMALL BUSINESS TOOLS
Novo business banking integrates with other small business tools to make your life easier.
It automatically syncs your accounts with QuickBooks, Xero, and more—no need for manual entry. And there’s no extra fee for using these tools!
Plus, you get access to a wide range of small business tools that usually cost extra when dealing with other banks.
8. OFFERS THOUSANDS OF DOLLARS IN EXCLUSIVE PERKS
As a business owner, saving money wherever you can is important. Novo understands this and offers exclusive perks to account holders that can save you thousands of dollars. Novo partners with providers like Stripe, QuickBooks, Gusto, Google, and HubSpot to offer discounts on their services. This means that you can focus on running your business and leave the money-saving to us. So why wait? Sign up for a Novo account today and start saving.
9. BACKED WITH FDIC INSURANCE
NOVO business banking is backed with FDIC insurance through Middlesex Federal Savings, F.A.
FDIC insurance protects your deposits up to $250,000 per account type and provides the same protection for all types of accounts at the same institution. The FDIC’s deposit insurance is backed by the full faith and credit of the United States government—which means you can rest assured that if there were ever a bank failure, you would be fully reimbursed for any losses on insured deposits (up to $250k).
10. APPLY IN UNDER 10 MINUTES
You can get approved in minutes.
A simple application will help you get your business banking account open fast. The process could take as little as 10 minutes from start to finish. You’ll be able to use the app to deposit checks and transfer funds within minutes of opening an account, which makes it even easier for busy business owners like you!
Apply now and see how easy it is to do business with NOVO.
As a woman-owned business, it’s important to choose a bank that will help your company grow and thrive. Novo Business Banking is a great option for women entrepreneurs because it has no hidden or monthly fees, no minimum balance requirements, and refunds all ATM fees. Additionally, the simple, easy-to-use mobile apps make it easy to manage your finances on the go. And if you ever need help, the human-powered customer service team is available 24/7 to assist you. Plus, you’ll get discounts on small business tools and services. So why wait?
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