Bank Novo Business Checking $40 Referral Bonus For Each Party ($132 Via Swagbucks)

Update 5/14/24: RevU on Swagbucks is showing 13,200 points for new Novo Business Checking. It does say sole props are excluded.

Update 4/4/24: It’s now down to $40/$40

Update 9/5/23: Reader Sunshine tells us the $100/$100 offer is back – the referrer gets $100 and the new business gets $100.

Update 1/22/23: Some accounts are being offered a $250 bonus when they spend $5,000+ on the debit card by March 15, 2023. Hat tip to reader sg77

Update 8/9/22: Those who got $40 referral bonus when they were supposed to get $100 are now seeing the extra $60 in their account.

Update 6/22/22: Referrals are down to $40/40 now

Update 6/20/22: Apparently the referral stacks with Swagbucks by first clicking the referral link (this will add the referral code automatically to the sign up page), then click on the Swagbucks link and the referral code will auto-populate. Swagbucks via Revenue Universe is currently offering 3,330 ($33.30) or slightly more with MyPoints RU.

Update 6/17/22: Referral bonus has increased to $100 for each party. Old referral codes will earn $100 going forward. (ht Sophia) DO NOT LEAVE REFERRALS IN THE COMMENTS BELOW. Find/share referrals in this linked post. DO NOT LEAVE YOUR REFERRAL A SECOND TIME THERE.

Offer at a glance

• Maximum bonus amount: $100 referral bonus
• Availability: Nationwide
• Direct deposit required: None 
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None
• Expiration date: 9/30/21

The Offer

No direct link to offer, requires a referral link. Find/share referrals in this linked post

• Bank Novo (business checking) is offering a $100 referral bonus. New user must:
  • They must not have previously opened an Account;
  • They must use the Referring User’s Novo Unique Referral Link when applying for a new Account;
  • They must successfully open a new Account;
  • They must complete a qualified deposit(s) into their Novo account totaling $100.00 or more within 14 days of Account Opening date;
  • The qualifying deposit(s) must be made by any user authorized to transact on the Referred User’s Account; and
  • The Referred User must hold a balance of at least $100 in their Novo checking account on October 31, 2021.

The Fine Print

• Full terms here
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees

Early Account Termination Fee

Not sure if there is any early account temrination fee or not.

Our Verdict

Apparently this account is interesting due to the perks offered, $3,000 in Google cloud credits seems interesting but don’t know too much about it. $30 is a pretty small bonus though, normally we don’t post bonuses unless they are $100+ but because of the Perks it could be interesting and Bank Novo hasn’t offered a bonus in the past. Find/share referrals in this linked post

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times