What to do when a Novo account holder dies
Contact Novo — 8-step process, 2 required documents, and novo does not publish a timeline for a deceased-owner account. user removal is immediate and self-service; an ownership (ubo) change goes into an "in review" queue and is confirmed by email once approved; closing the account is handled by support and, once done, is permanent.
Novo Support (in-app ticket; email only if you cannot log in — no phone support)
Emailsupport@novo.co
Mailing Address
Novo Platform Inc., Attn: Legal/Compliance Team, P.O. Box 363, New York, NY 10272 (the legal/compliance address published in Novo's privacy notice — not a claims address; account matters go through in-app support or support@novo.co)
WebsiteLearn more→
Novo Support (in-app ticket; email only if you cannot log in — no phone support)
Emailsupport@novo.co
Mailing Address
Novo Platform Inc., Attn: Legal/Compliance Team, P.O. Box 363, New York, NY 10272 (the legal/compliance address published in Novo's privacy notice — not a claims address; account matters go through in-app support or support@novo.co)
WebsiteLearn more→
Novo Support — deceased account user (in-app ticket, or support@novo.co if you cannot log in)
Emailsupport@novo.co
Middlesex Federal Savings, F.A. (partner bank holding the deposits)
WebsiteNotify online→
Verified Jul 2026
After a Novo account holder dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact Novo's Novo Support — deceased account user (in-app ticket, or support@novo.co if you cannot log in) with the proper legal authority documents.
Claims can be filed by phone or by emailing documentation to support@novo.co. Before reaching out, gather the account holder's full name, account numbers, and a certified death certificate.
Death claim process
To file a claim after an account holder's death, here is what Novo requires:
Filing a claim
1
Tell Novo right away. Novo's own instruction: "Please let us know as soon as possible if someone on your account has passed away or can no longer manage the account" (https://www.novo.co/help/what-should-i-do-if-a-user-on-my-account-is-deceased).
2
Reach Novo. There is no phone number and no branch — Novo offers no phone support at all:
- If you can log in to the account, open a support ticket in the Novo app or web experience (Support) — Novo's stated path is "sign in to the app and go to Support to contact us"
- If you cannot log in, email support@novo.co from the email address on the account or application
- The bank of record behind the account is Middlesex Federal Savings, F.A. (One College Avenue, Somerville, MA 02144; 617-666-4700), but Novo services the account and is the party to contact
3
Remove the deceased person as a user. Novo lets you do this yourself:
- On the web: go to Account Info, choose Users, click the delete icon next to the user
- In the app: go to Account, choose Settings, tap Users, choose the user, tap the delete icon
- You will be asked why you are removing them and to confirm, and you will get an email confirmation
4
Update the ownership records separately. Removing a USER only removes access; it does not change ownership. To remove the deceased as an ultimate beneficial owner, go to Account Info, then Business Ownership Info, then Manage Owner, select the owner, choose Remove this UBO, and submit. The request shows as "In Review," Novo may ask for more information, and you get a confirmation email if it is approved.
5
Know that the account cannot be handed to the successor. Novo states the primary owner on an existing account cannot be changed for security and compliance reasons, and that a business needing a new primary owner must close the account and have the new owner apply for a new one. So if the deceased was the primary owner — the usual case for a sole proprietor or single-member LLC — the endpoint is closing the account, not transferring it.
6
Get the money out before the account closes. Per Novo's closure article (https://www.novo.co/help/how-do-i-close-my-account):
- Transfer the remaining balance out first if you can — if funds are still in the account at closure, the sponsor bank issues a check and mails it to the BUSINESS ADDRESS ON FILE, so make sure that address is one the estate can actually receive mail at
- Download the statements (PDF or CSV) before closing — after closure you cannot log in or see transaction history or Reserves, and getting records later requires contacting support
- Cards, including additional users' cards, are canceled immediately, and pending or scheduled ACH transfers are canceled or returned as "Account Closed"
- Linked services such as Venmo, PayPal, and Stripe are disconnected — for a business still collecting receivables, disconnect and re-point them deliberately rather than letting incoming payments bounce
- Closure is permanent and an account cannot be reopened
7
Establish who has authority. Novo requires a trust document or a court appointment (executor, administrator, or conservator) before a fiduciary can act on a business account. A surviving spouse or heir with no such document has no standing with Novo, no matter what the will says — the document is what Novo verifies.
8
Settle the business interest, not the bank account. The Novo balance is the business's money. For an LLC or corporation the operating agreement or bylaws decide who succeeds to control; for a sole proprietorship or a single-member LLC with no successor named, the business interest passes through the deceased owner's estate, which is what gives an executor authority over the funds.
Required Documents
- A valid trust document naming the person as trustee, OR a court appointment as executor, administrator, or conservator — this is what Novo requires before a fiduciary can act on the account
- The business's ownership records (operating agreement, bylaws, or equivalent) showing who succeeds to control of the business
What to know at this institution
The thing to understand about Novo is that there is no consumer-style death claim here, and no branch or phone number to escalate to. Novo is a fintech, not a bank — deposits sit at Middlesex Federal Savings, F.A., Member FDIC — and every Novo account is a business account. Three published facts drive the whole process. (1) Novo asks to be told as soon as possible when someone on an account has died, and lets you remove that person as a user yourself, in the app or on the web. (2) The primary owner on an account cannot be changed: a business that needs a new primary owner must close the account and have the new owner apply for a new one. (3) At closure, any remaining balance is paid by the sponsor bank as a CHECK MAILED TO THE BUSINESS ADDRESS ON FILE — which is why the estate should confirm that address is deliverable, and why transferring the balance out first is the cleaner path. Novo requires a trust document or a court appointment (executor, administrator, or conservator) before a fiduciary can act on the account. Novo does not publish a document checklist for a deceased owner and does not name a claims department; the reachable contacts are a support ticket in the app and support@novo.co if you cannot log in.
Expected timelines at Novo: Novo does not publish a timeline for a deceased-owner account. User removal is immediate and self-service; an ownership (UBO) change goes into an "In Review" queue and is confirmed by email once approved; closing the account is handled by support and, once done, is permanent. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
To process a claim, Novo needs A valid trust document naming the person as trustee, OR a court appointment as executor, administrator, or conservator — this is what Novo requires before a fiduciary can act on the account and The business's ownership records (operating agreement, bylaws, or equivalent) showing who succeeds to control of the business. Death certificates and court documents must be certified copies—photocopies are not accepted.
Frequently asked questions
No. Novo is a business-only platform, and payable-on-death (POD) and transfer-on-death (TOD) designations are consumer deposit-account features. Novo has no consumer accounts, publishes no POD form, and has no beneficiary field in the app. The money in a Novo account belongs to the business, not to you personally, so it is not yours to leave to someone by designation. What you plan is the BUSINESS: an LLC or corporation names a successor in its operating agreement or bylaws, and the account follows whoever succeeds to the business. A sole proprietorship has no separate entity, so its assets — including the Novo balance — pass through the owner's estate.
No. Novo states that the primary owner on an existing account cannot be changed, for security and compliance reasons, and that a business needing a new primary owner has to close the account and have the new owner apply for a new one. So the realistic sequence after the owner's death is: report the death to Novo support, transfer the remaining balance out, download the statements, and close the account — then the successor opens a fresh Novo account in their own name if they want one. If funds are still sitting in the account at closure, Novo says the sponsor bank issues a check and mails it to the business address on file, so confirm that address is somewhere the estate can actually receive mail.
No. Novo states that Reserves are not separate accounts — the money set aside in them is still part of the checking account's total balance. For an executor inventorying a deceased owner's business, that means there is one Novo balance to account for, not several: Reserves carry no separate FDIC coverage, no separate beneficiary, and no separate claim. They are a budgeting view inside the one business checking account, and access to them ends when that account is closed.
Novo's Novo Support — deceased account user (in-app ticket, or support@novo.co if you cannot log in) can be reached by email at support@novo.co for questions throughout the claims process.
Sources
Data sourced from Novo primary sources (15 pages reviewed). How we research.
Novo Support (in-app ticket; email only if you cannot log in — no phone support)
Emailsupport@novo.co
Mailing Address
Novo Platform Inc., Attn: Legal/Compliance Team, P.O. Box 363, New York, NY 10272 (the legal/compliance address published in Novo's privacy notice — not a claims address; account matters go through in-app support or support@novo.co)
WebsiteLearn more→
Novo Support (in-app ticket; email only if you cannot log in — no phone support)
Emailsupport@novo.co
Mailing Address
Novo Platform Inc., Attn: Legal/Compliance Team, P.O. Box 363, New York, NY 10272 (the legal/compliance address published in Novo's privacy notice — not a claims address; account matters go through in-app support or support@novo.co)
WebsiteLearn more→
Novo Support — deceased account user (in-app ticket, or support@novo.co if you cannot log in)
Emailsupport@novo.co
Middlesex Federal Savings, F.A. (partner bank holding the deposits)
WebsiteNotify online→
Verified Jul 2026
Estate planning articles
Learn how to protect your Novo accounts and other assets with trusts, beneficiary designations, and estate planning documents.
