specification: API Commons Plans
specificationVersion: '0.1'
schema: https://raw.githubusercontent.com/api-evangelist/interface-research/main/schema/api-commons.yml#/$defs/Plans
provider: Novo
providerId: novo-bank
created: '2026-06-20'
modified: '2026-06-20'
reconciled: true
tags:
- Banking
- Business Banking
- Fintech
- Small Business
- Freelancers
- Plans
description: >-
  Novo business checking is free - no monthly fees, no minimum balance, and no
  minimum opening deposit. Revenue comes from paid add-on products rather than
  account fees or API metering. There is no public developer API and therefore
  no API pricing tier; the entries below describe Novo's banking product plan
  and its optional paid add-ons (Novo Funding cash advances, the Novo Business
  Mastercard, and faster Express ACH payouts). Standard fee schedule items
  (e.g. outgoing wires, insufficient-funds, foreign-transaction handling) apply
  per Novo's published fee schedule.
notes: >-
  Add-on availability and rates change; verify against Novo's pricing and fee
  schedule during reconciliation. Banking services provided by Middlesex
  Federal Savings, F.A. No developer/API plan exists because Novo does not
  publish a public API.
sources:
- https://www.novo.co/
- https://www.novo.co/business-banking
- https://www.novo.co/integrations
plans:
- id: novo-business-checking
  name: Novo Business Checking
  type: free
  description: >-
    Free business checking account for small businesses and freelancers with no
    monthly fees, no minimum balance, and no minimum opening deposit. Includes
    invoicing, reserves, bookkeeping/categorization, and prebuilt integrations.
  entries:
  - label: Monthly Account Fee
    name: monthly_fee
    type: flat
    metric: account
    limit: -1
    timeFrame: month
    geo: us
    unit: 1
    price: $0
    userMultiplied: false
  - label: Minimum Balance
    name: minimum_balance
    type: flat
    metric: account
    limit: -1
    timeFrame: month
    geo: us
    unit: 1
    price: $0
    userMultiplied: false
  - label: Standard ACH Transfer
    name: ach_standard
    type: flat
    metric: transfer
    limit: -1
    timeFrame: usage
    geo: us
    unit: 1
    price: $0
    userMultiplied: false
  elements:
  - name: Business Checking
  - name: Invoicing
  - name: Reserves
  - name: Bookkeeping
  - name: Integrations
- id: novo-express-ach
  name: Express ACH
  type: usage
  description: >-
    Optional faster ACH payout that accelerates settlement for an added fee.
    Pricing is set by Novo and varies; confirm on the fee schedule.
  entries:
  - label: Express ACH Payout
    name: express_ach
    type: usage
    metric: transfer
    limit: -1
    timeFrame: usage
    geo: us
    unit: 1
    price: see Novo fee schedule
    userMultiplied: false
  elements:
  - name: Faster Payouts
- id: novo-funding
  name: Novo Funding
  type: usage
  description: >-
    Merchant cash advance / funding product for eligible Novo customers. Cost
    is expressed as a fixed fee/factor on the advanced amount rather than a
    traditional APR; eligibility and terms are determined per applicant.
  entries:
  - label: Cash Advance
    name: cash_advance
    type: usage
    metric: advance
    limit: -1
    timeFrame: usage
    geo: us
    unit: 1
    price: fixed fee per offer (eligibility-based)
    userMultiplied: false
  elements:
  - name: Working Capital
- id: novo-business-card
  name: Novo Business Mastercard
  type: free
  description: >-
    Business debit/charge card with expense tracking and rewards/perks. Issued
    with the checking account; no annual card fee.
  entries:
  - label: Annual Card Fee
    name: card_annual_fee
    type: flat
    metric: card
    limit: -1
    timeFrame: year
    geo: us
    unit: 1
    price: $0
    userMultiplied: false
  elements:
  - name: Business Card
  - name: Expense Tracking
maintainers:
- FN: Kin Lane
  email: kin@apievangelist.com