Does Novo charge overdraft fees? If a transaction is made and there are insufficient funds to complete the payment, your Novo account will be charged a $27 fee. Apply for a Novo account today! Have more questions? Submit a request Related articles Can you send me the Novo fee schedule? Can I withdraw or Deposit Cash with Novo? Does Novo charge fees for transfers? Do I have to pay any fees to open a Novo account? Does Novo offer overdraft protection?