Adding money to your Novo account is straightforward! You can fund your account using various methods. Here are the most common options:
1. ACH Transfers
- What it is: An electronic transfer of funds from your existing bank account to your Novo account.
- How to do it:
- Log in to your Novo account.
- Navigate to the "Deposits" or "Funding" section.
- Select "ACH Transfer."
- Enter the details of your other bank account (bank name, account number, routing number).
- Specify the amount you want to transfer.
- Confirm the transfer.
- Benefits:
- Usually free.
- Quick processing times (typically 1-3 business days).
2. Wire Transfers
- What it is: A secure transfer of funds directly from your existing bank account to your Novo account.
- How to do it:
- Contact Novo support to obtain their wire transfer instructions.
- Provide your bank with the necessary details (Novo's bank name, account number, routing number, and SWIFT code).
- Benefits:
- Secure and reliable.
- Can be used for international transfers.
- Drawbacks:
- May incur fees depending on your bank.
- Can take longer than ACH transfers (typically 1-3 business days).
3. Debit Card
- What it is: You can use your debit card to add money to your Novo account.
- How to do it:
- Log in to your Novo account.
- Navigate to the "Deposits" or "Funding" section.
- Select "Debit Card."
- Enter your debit card information.
- Specify the amount you want to deposit.
- Confirm the transaction.
- Benefits:
- Convenient and fast.
- Drawbacks:
- May incur fees depending on your debit card provider.
4. Check Deposits (Mobile App)
- What it is: You can deposit a check directly into your Novo account using your mobile app.
- How to do it:
- Open the Novo mobile app.
- Tap "Deposit Check."
- Follow the on-screen instructions to take a picture of the front and back of your check.
- Benefits:
- Convenient and fast.
- No need to visit a branch.
- Drawbacks:
- Limited to checks written in US dollars.
- Check must be endorsed with your signature.
5. Cash Deposits (Partner Locations)
- What it is: You can make a cash deposit at select partner locations, such as Walmart, CVS, or Walgreens.
- How to do it:
- Log in to your Novo account.
- Navigate to the "Deposits" or "Funding" section.
- Select "Cash Deposit."
- Generate a deposit slip with a unique barcode.
- Take the slip to a participating partner location.
- Provide the barcode and cash to the cashier.
- Benefits:
- Convenient and readily accessible.
- Drawbacks:
- May incur fees depending on the partner location.
Remember to check with Novo for the latest fees and processing times for each funding method.
