Novo $40 Sign-up Bonus for $100 Deposit

Novo is offering a $40 sign-up bonus when you open a new account using the referral code JohnPham1 and fund the account with at least $100 within 30 days of account opening.

The top-rated Novo checking account is free and takes minutes to sign-up. Learn more about awesome perks of this bank account and get a step-by-step guide on how to receive the sign-up bonus below.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

What is Novo?

Novo is a business banking platform that offers a free business checking account which has been consistently rated as one of the top business bank accounts for small businesses.

We also awarded Novo first place when we ranked the best business checking accounts due to its low costs, unlimited fee-free transactions, and integration with popular business tools like QuickBooks and Stripe. There are no hidden fees and no minimum balance requirements.

You can easily open an account in minutes. Plus, when you open a Novo account using the referral code or referral link found below, you’ll score a $40 bonus!

Novo $40 Sign-up Bonus

Open a Novo account using referral code “JohnPham1” and get a $40 bonus when you deposit $100 or more within 30 days of account opening.

$40 Bonus Step-by-Step Guide

  1. Open a Novo business checking account using this link.
  2. Enter the Novo referral code JohnPham1 during account registration.
  3. Fund your account with $100 or more within 30 days of account opening.
  4. Maintain at least $100 for the next 30 days.
  5. Receive a $40 bonus after meeting the qualifications.
Novo referral code text field
(Image from Novo)

Can you open a business bank account?

A lot of people think they can’t open a business bank account because they don’t have an Employer Identification Number (EIN). That’s simply not true.

Many small businesses are run by individuals (sole proprietors). Do you sell on eBay, blog online, or have a side hustle? Then you have a business.

So when you open a business bank account like this Novo business checking account, just use your Social Security number during the application process.

Novo Business Banking – Benefits & Perks


Novo is the most competitive business account I’ve come across. Besides an Insufficient Funds Fee (NSF) and an Uncollected Funds Returned Fee, both which at $27 per occurrence, there are no other fees.

Fee ScheduleFee
Monthly Service Charge$0
Early Account Closing Fee$0
ACH Transactions$0
Incoming Domestic or Foreign Wire Transfers$0
Stop Payments$0
Debit Card Replacement$0
Physical Check Bill Payment$0
Bank Check$0
Paper Statement Fee$0


Novo offers a crazy amount of perks for customers, including ones from the following merchants:

  • Stripe = $20,000 in fee-free card processing ($500 value)
  • Google Ads = $500 in credits when you spend $500 on Google Ads ($500 value)
  • Snapchat = $150 in Snapchat Ads credits ($150 value)
  • Google Cloud = $300 in Google Cloud credits ($300 value)
  • Gusto = 100% discount on first 3 months of any Gusto package ($500 value)
  • Intuit Quickbooks = 30% discount on first 6 months of any QuickBooks Online package ($150 value)
  • HubSpot = 30% off first year subscription + 15% off following years ($1,400 value per seat)
  • Segment = $25,000 in Segment Credits for first 2 years ($25,000 value)
  • Zendesk = Free 6 months on any Zendesk Suite licenses ($540 value per seat)

I find Google Cloud and Stripe benefits the most helpful.

Google Cloud is great for backing up important files and taking credit card payments in-person (my friends never carry cash either) for free up to $20,000 is very nice.

The Bottom Line

This is simply an awesome bank account that I would have signed up for regardless of any available promo. The referral bonus is just icing on the cake and has an easy requirement that the majority of us can do.

Many readers have mentioned that they’re highly interested in business bank account bonuses, and more so after learning that pretty much anyone can open one. We’ll make an effort to write more content around this going forward.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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8 months ago

Love this offer! The $40 bonus came almost instantly after making the $100 deposit.

I ended up keeping and using the Novo checking account. It’s a great for business banking and like you said, I haven’t been assessed a single fee for anything I use Novo for. The perks, especially Stripe and Google Ads, are very useful. It would be nice if you can write more details on what benefits you find valuable so I (and other readers) can get even more value from the account.

8 months ago

I want to inform you that some Novo accounts have been upgraded to a $100 referral bonus again. I know for a fact that my Novo account was upgraded to the $100 bonus for the person being referred. If you want to be sure about receiving $100 for opening the account.. please use my referral link and enter my promo code if using the app to sign up: ShaunApple

The terms are the same.. 1) Open account using $100 referral link 2) Fund account with $100 3) Keep $100 in the account for only 30 days 4) Receive the $100 bonus.

The tracker works great and they e-mail both parties updates which is cool too. Transfers from the account are known to often count as “direct deposit” for other bank bonuses. Hope if you found this useful that it is okay to share my link here. Thanks!