Bank Novo Business Checking $300 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $300
  • 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: None listed

The Offer

Direct link to offer

  • Bank Novo (business checking) is offering a $300 checking bonus. New user must:
    • Deposit a total of $5,000 or more in new money into your new Novo account within 30 days of account opening
    • Once your balance first reaches $5,000, maintain that minimum balance of $5,000 for 90 consecutive days

The Fine Print

  • Upon meeting the above requirements, Novo will automatically deposit the $300 bonus into your new Novo account typically within 30 days. To receive this offer, your account must be active and unrestricted at the time of payout. No further opt in is required by you. This bonus offer applies to new accounts only. One bonus per account is permitted.
  • Only applicants that follow an official Novo offer link will be eligible. Eligibility for specific products and services is subject to Novo’s final determination and acceptance. Employees of Novo and its affiliates are not eligible for this offer.
  • Novo reserves the right to modify or withdraw this offer at any time without prior notice. Not all products and services are available in all geographic areas.
  • Novo accounts are governed by our Terms of Use, Privacy & Security Policy, and Novo E-sign and Electronic Communications Agreement.
  • Novo reserves all rights to revoke an applicant’s bonus due to activities that are abusive, fraudulent, or in violation of these offer terms or Novo’s terms of use.
  • Bonuses are considered interest and may be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
  • Novo is a fintech company, not a bank. Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC.

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

Better than the $100 referral bonuses that were offered in the past. Think this is worth doing if you’re eligible and haven’t done it before. This will be added to our best bank bonuses.

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    William Charles
  • On January 13, 2025, 16:00
Tags: nationwide bank bonusessoft pull

View Comments (77)

  • Deposit $5k, but it doesn’t talk about DD? So could I transfer $5k from my savings account and that counts?

  • Wonder if one had an account already open for an LLC, could you also open one with a sole prop. EIN? Think they would deny based on the name or SSN matching with a previous account?

    Possibly use another email for the second account.

  • I did this bonus for $50 through inbox dollars and closed it 6 months ago, anybody know if I can still apply for this?

  • Applied yesterday through the $300 nerdwallet link with a referral code on the referral page, approved today.

    Received an email “ next step, keep $100 for 30 days to earn your referral bonus", but no email about the $300 bonus. Anyone else? I wonder if it is normal there is no email for the $300 bonus, or whether it meant the stacking didn't work?

    • Lots of complaints and their response for most is simply "per terms of section 22, we can close accounts for any reason and at our discretion".

      Between that and the fact NoVo is a fintech and NOT a bank further introducing the chance of issues between the two... I'll pass.

    • I have had zero issues, and all I do is send ACH payments to myself (1-4 transactions per month on average). Transfers are fast and show up by the next day.

      The only thing I dislike is that my name appears on the transaction line item at the destination bank, and it doesn't give me full confidence that transfers will work as qualifying direct deposits. For those that are signing up now, I would suggest using your business name if you have it, if you share the same concern. Adding a DBA afterwards didn't make a difference in my case.

  • Sole prop, with EIN and a sort of legit side business, denied due to ID verification and “overall risk tolerance of novo”

  • I don't use an EIN number, only my SS number for my business, so they won't accept my application.

    • @guest_1985020 It's a good thing to have for some, not just for bonuses. I got an EIN years ago to stop putting my SSN on invoices for clients.

  • I already have an account so I am not eligible for this offer, but I have found Novo to be a good DD last-resort option when the usual suspects don't work.

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