The short answer
A transaction for NOVO* BUSINESS APPS represents a monthly app add-on fee, express ACH fee, or debit card transaction through Novo Platform Inc. (Middlesex Federal Savings, F.A.).
Why it shows up like this
Seeing NOVO* BUSINESS APPS or BANKNOVO* CHECKING on your financial statement indicates a fee or transaction for your Novo Business Banking & App Integrations. Managed by Novo Platform Inc. / Middlesex Federal Savings, this descriptor covers business checking account add-ons, express payout fees, or debit card purchases.
Small business owners and freelancers typically encounter this descriptor when utilizing express electronic transfer features to receive merchant funds instantly, or when subscribing to third-party business software within the digital app marketplace. While Novo checking accounts feature zero monthly maintenance fees, specific optional integrations carry separate costs.
To verify the transaction, open your banking application or log in at app.novo.co to review your detailed account activity. You can inspect specific fee categories in your dashboard and disconnect any active paid integrations to prevent future charges. Keeping close track of your monthly statements ensures complete financial security and prevents unexpected surprises from recurring charges.
Common reasons for this charge
Review these common reasons why this banking fee or app charge appears.
- A Novo Boost express payout fee (1.5%) to receive Stripe or merchant funds instantly.
- A third-party business software add-on subscribed to within the Novo App Marketplace.
- A debit card purchase made using the Novo Business Mastercard.
How to locate the invoice and cancel
Follow these steps in your banking app to review activity and disconnect paid integrations.
- Sign in to Novo Open the Novo app or log in at app.novo.co.
- Review Activity Check the Activity tab to identify the transaction type and merchant/fee details.
- Manage Integrations Go to Integrations to disconnect or cancel any active paid add-ons.
Frequently Asked Questions
Does Novo charge monthly account maintenance fees?
No, Novo checking accounts have $0 monthly maintenance fees and no minimum deposit requirements. Charges represent specific add-ons or debit spend.
Which bank provides Novo's deposit accounts?
Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC.
Dispute Rights & Fraud Prevention
If you did not authorize a Novo debit card purchase or account fee, notify Novo support immediately.
Debit card fraud is protected under Regulation E within 60 days of the statement date.
How do I report a fraudulent Novo charge?
Contact Novo support through the in-app chat or email support@novo.co.
How long does a debit dispute take to resolve?
Under federal law, banks must investigate electronic transfer disputes within 10 to 45 business days.
Independent reference — not affiliated with Novo Platform Inc. / Middlesex Federal Savings, F.A.. Billing names and policies change; verify with the merchant or your bank before acting.
Verified sources
Every claim on this page is checked against official sources — open them to confirm before you call your bank.
- Novo Terms of Use & Banking Disclosures https://www.novo.co
- CFPB: Electronic Banking Rules & Disclosures https://www.consumerfinance.gov
Reviewed Aug 15, 2026 · high · About UnknownCharges