Hello! You mentioned that you have yourself set up as a payee in Novo and that it goes to your SoFi checking. I am wondering if this allows you to get the direct deposit bonus 3.75% interest in your SoFi? I am self employed and pay myself so I don’t process payroll. I’m trying to find a way I can have a qualifying direct deposit for SoFi and wondered if this could work?
is it possible to set your “Reserves” accounts to automatically deduct a certain percentage of all money that comes in? For example, if I want to set aside 30% of all money that comes into my business account for taxes. Or do I have to do that manually?
Nice video! I wouldn’t mind if you ever spread out and talked more about investing platforms of financial commentary. Maybe some news. Or crypto news as well
If I am in the process of getting an LLC for my online dropshipping business, can I open a Novo or Lili account? Or should I wait until after the LLC is good to go..?
I just signed up for Novo and it will only let me fund $1,250 per day. which is ridiculous. Tried contacting them about this and have not received a reply. Do you know why there is such a low limit for funding ?
Can't get past your "Make a payment" segment. You didn't "add a payee". Here's where there's a big problem. If you want to add a vendor whom you will wish to pay with a check, there is no field in which to put the vendor's invoice number which will appear on the check they will receive. This means that the vendor's accounts receivable clerk must hunt for the exact amount in order to apply the funds correctly. Now, if you are paying a single invoice to them, it might not be so difficult. But what if you are paying two or three? You have added the amounts and that's what the check will be, but the clerk doesn't know which ones you may be paying and therefore has to start doing math problems to figure it out. I just discussed this with the head of AR for one of my vendors and she informed me that, whenever I pay them, I'm going to have to send her an email telling her exactly what invoices I am going to be paying with Novo Bank. Finally, and this amazes me, Novo lets you only put a five digit zip code in for the vendor's address for the checks. Most vendors of any size use a po box for their receivables, and that po box number (often a lock box at a bank) is the extra four digits after the regular five. The guys and gals who programmed this app may be great at what they do, but I get the feeling they never talked to somebody who actually runs a business and pays invoices.
This is probably a dumb question but if I were to fund my Novo account for the first time as I just started my LLC, is that still technically separating my personal assets with my business?
Can you open an account as a sole proprietor or do you need to have an established business/ein etc? I tried Payoneer and they won't even serve U.S. customers with a usd deposit account.
Don’t do it! You’ll. E seriously screwed by them. I’m currently stranded in Nebraska because they keep declining my purchases and no one responds to emails or phone calls.
I wouldn’t say they are a scam they do work and I’ve used them, I do wish they had more support and connectivity to plaid and accounting softwares and apps. It doesn’t seem to stay connected
@@solomonKachi7000 You wouldn't call them a scam because they haven't taken your money yet lol.. When they do, you will call them a scam. See how that works?
@@veryimportant8524 true. Tho overall they aren’t a scam but I would see how that could happen to anyone which makes using them not worth it. I actually recently switched to American Express small business checking. It’s new and bare bones but it’s easier to trust a good company that I know has great customer service than a random internet business with less quantity customer service Novo is awesome with their features (when they work as intended) but sometimes security is more worth it than features
I've loved using Novo as my main business bank account since I opened it earlier this year! Really detailed review here and very helpful 👍
How long does it take a mobile deposit to be completed?
You’re lying. This is a horrible bank.
Hello! You mentioned that you have yourself set up as a payee in Novo and that it goes to your SoFi checking. I am wondering if this allows you to get the direct deposit bonus 3.75% interest in your SoFi? I am self employed and pay myself so I don’t process payroll. I’m trying to find a way I can have a qualifying direct deposit for SoFi and wondered if this could work?
is it possible to set your “Reserves” accounts to automatically deduct a certain percentage of all money that comes in? For example, if I want to set aside 30% of all money that comes into my business account for taxes. Or do I have to do that manually?
Cand you do a review of Found Business Banking?
How do we add funds using PayPal? Thanks
Hi there! Love your videos, very helpful. Keep it up
Nice video! I wouldn’t mind if you ever spread out and talked more about investing platforms of financial commentary. Maybe some news. Or crypto news as well
Very detailed info. Just subscribed
Very thorough Thank You!
Just a heads up, this description for this video says you're going to be going over the Chime mobile app
Is this Novo suitable for working with Amazon as a seller? As a company
If I am in the process of getting an LLC for my online dropshipping business, can I open a Novo or Lili account? Or should I wait until after the LLC is good to go..?
How do i get a bank statement from novo to give my accountant
can you make a video on the Extra Debit Card ? love ur channel!
they don't have it. they allow only one.
I just signed up for Novo and it will only let me fund $1,250 per day. which is ridiculous. Tried contacting them about this and have not received a reply. Do you know why there is such a low limit for funding ?
Can't get past your "Make a payment" segment. You didn't "add a payee". Here's where there's a big problem. If you want to add a vendor whom you will wish to pay with a check, there is no field in which to put the vendor's invoice number which will appear on the check they will receive. This means that the vendor's accounts receivable clerk must hunt for the exact amount in order to apply the funds correctly. Now, if you are paying a single invoice to them, it might not be so difficult. But what if you are paying two or three? You have added the amounts and that's what the check will be, but the clerk doesn't know which ones you may be paying and therefore has to start doing math problems to figure it out. I just discussed this with the head of AR for one of my vendors and she informed me that, whenever I pay them, I'm going to have to send her an email telling her exactly what invoices I am going to be paying with Novo Bank. Finally, and this amazes me, Novo lets you only put a five digit zip code in for the vendor's address for the checks. Most vendors of any size use a po box for their receivables, and that po box number (often a lock box at a bank) is the extra four digits after the regular five. The guys and gals who programmed this app may be great at what they do, but I get the feeling they never talked to somebody who actually runs a business and pays invoices.
its just a normal checking account
How to change novobanco mobile application language
Is there a P&L report?
I would like to know if can I use Zelle with Novo?
Not as far as I know maybe with Samsung but it’s not built in
thank you
This is probably a dumb question but if I were to fund my Novo account for the first time as I just started my LLC, is that still technically separating my personal assets with my business?
Yes.
Not a dumb question as I wanted to know the same thing dwl.
Hello could you make the video about how we can update our address
Can you open an account as a sole proprietor or do you need to have an established business/ein etc? I tried Payoneer and they won't even serve U.S. customers with a usd deposit account.
Don’t do it! You’ll. E seriously screwed by them. I’m currently stranded in Nebraska because they keep declining my purchases and no one responds to emails or phone calls.
This is a super helpful video for getting started with Novo, thanks!
Bull crap. NOVO can’t even hire people to handle emergency issues.
Mobile app please!
😍🙏👍
DO NOT USE NOVO!.. Do 5 mins of research. They are a scam! You have been warned. If these comments are deleted then the channel owner is not honest.
I wouldn’t say they are a scam they do work and I’ve used them, I do wish they had more support and connectivity to plaid and accounting softwares and apps. It doesn’t seem to stay connected
@@solomonKachi7000 You wouldn't call them a scam because they haven't taken your money yet lol.. When they do, you will call them a scam. See how that works?
@@veryimportant8524 true. Tho overall they aren’t a scam but I would see how that could happen to anyone which makes using them not worth it. I actually recently switched to American Express small business checking. It’s new and bare bones but it’s easier to trust a good company that I know has great customer service than a random internet business with less quantity customer service
Novo is awesome with their features (when they work as intended) but sometimes security is more worth it than features
@@veryimportant8524 How did u loose your money with Novo?