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  1. #1

    Exclamation AZLO Bank is Closing on 3/31/2021 (and stay away from NOVO Bank too!)

    Just wanted to share some helpful information here. Just went to do a manual login for AZLO Bank and right at the top of the page it says that they're closing altogether on 3/31/2021. I brought this up to the merchant and he said he would have to get me a new account at that point.

    https://www.cnbc.com/select/banking-...siness-owners/

    My advice would be to stay away from any merchants currently operating in AZLO Bank as it's likely going to be a nightmare getting new accounts for all of these merchants.

    ALSO -- when you Google AZLO Bank, one of the top hits is "NOVO Bank is the best alternative for AZLO Bank", being that they're also an online-only bank. Stay away from these guys too, even when you login, neither the statements nor anywhere on the website are you able to find any daily ending balances, so unless you're looking to fund completely blind, it's just not worth it.

    Just FYI.

  2. #2
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    Quote Originally Posted by TheUnderwritingProdigy View Post
    Just wanted to share some helpful information here. Just went to do a manual login for AZLO Bank and right at the top of the page it says that they're closing altogether on 3/31/2021. I brought this up to the merchant and he said he would have to get me a new account at that point.

    https://www.cnbc.com/select/banking-...siness-owners/

    My advice would be to stay away from any merchants currently operating in AZLO Bank as it's likely going to be a nightmare getting new accounts for all of these merchants.

    ALSO -- when you Google AZLO Bank, one of the top hits is "NOVO Bank is the best alternative for AZLO Bank", being that they're also an online-only bank. Stay away from these guys too, even when you login, neither the statements nor anywhere on the website are you able to find any daily ending balances, so unless you're looking to fund completely blind, it's just not worth it.

    Just FYI.
    Thanks for the heads up, ive never seen them in banks

  3. #3
    I always thought AZLO was a subsidiary bank to BBVA Compass:
    https://www.bbva.com/en/bbva-partner...entrepreneurs/

    Either way, thanks for the heads up

  4. #4
    Senior Member Reputation points: 337045
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    Quote Originally Posted by NoBiggie View Post
    I always thought AZLO was a subsidiary bank to BBVA Compass:
    https://www.bbva.com/en/bbva-partner...entrepreneurs/

    Either way, thanks for the heads up
    They are a sub of BBVA. BBVA is being acquired by PNC.
    Hedley Lamarr......That's Hedley

  5. #5
    Quote Originally Posted by Kevin Henry-Seacoast View Post
    They are a sub of BBVA. BBVA is being acquired by PNC.
    Maybe i've been in the industry too long, but just sounds like a whole backdoor operation between Azlo/BBVA/PNC

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