Fifth Third Bank vs Novo

Fifth Third Bank is a midwest & Southwest bank with high balance requirements. How does it compare to Novo? Read our comparison chart below.

Fifth Third Bank has 1,300 branches across the Midwest and Southwest. Basic checking account requires $1,500 minimum balance to avoid fees. Promotional CD offers a high APY for terms up to 60 months with a $5,000 minimum opening deposit.

While Novo offers all-in-one banking for digital businesses. It includes up to 20 Reserves, free unlimited invoicing, and over a thousand business app integrations. But there's no cash deposits. There is no monthly fee.

Compare Fifth Third Bank with Novo, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Fifth Third Bank	Novo
	Member FDIC
	Learn More	Visit Site
	SPECIAL OFFER Fifth Third Business Checking Account™ - Learn More Read Fifth Third Bank Review	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review
	Benefits and Features
Savings	0.01% APY	No savings account, but you add up to 20 Reserves
CD	0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 2.26% to 3.55% APY. Terms are 6, 12, and 24 months, minimum deposit of $5,000.
Checking	Fifth Third Momentum® Checking: No monthly service charge Fifth Third Preferred Checking®: Interest-bearing checking account Fifth Third Student Banking: Personal checking account for students age 13 and up.	No monthly fees; no balance requirements
Monthly Fee		$0
Money Market	0.01% APY Standard Rate (0.01% Relationship Rate)
APY		N/A
Minimum Deposit to Open		$50 to access all Novo's features
ACH Transfer Fee		$0
ATMs	2,100+ Fifth Third ATMs plus 40,000+ fee-free ATMs nationwide	up to $7 per month reimbursement of ATM fees worldwide
Balance Requirement		None
Cash Deposit Fee		N/A
Customer Service	Mon-Fri 8:00 am - 6:00 pm (EST) Sat 10:00 am - 4:00 pm (EST)	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
Incoming Wire Transfer Fee		$0
Locations	1,087 branch locations	Online only
Out of Network ATM Fee		up to $7 per month ATM fee reimbursement
Outgoing Wire Transfer Fee		N/A
Overdraft Fee		$0
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Free Express Checking Free student checking Promo CD with high APY Cons: Higher balance requirements Low savings APY Limited branches	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits Can't send wires
Bottom Line	Midwest & Southwest bank with high balance requirements... Read full review	Fee-free online business checking with lots of good features... Read full review
	Learn More	Visit Site
	Fifth Third Business Checking Account™ Personal Checking Account - $350 Bonus	Free Business Checking
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Fifth Third Bank: Pricing information from published website as of 05/09/2025 based on 45202 zip code. Novo: Pricing information from published website as of 05/09/2025.

Free Business Checking

$0 monthly service fee
$50 deposit to unlock all features
ATM fee refunds up to $7 per month

Banking services provided by Middlesex Federal Savings F.A., Member FDIC

Learn More

Free Business Checking

$0 monthly service fee
ATM fee refunds up to $7 per month
Free ACHs, incoming wires, and mailed checks
Up to 20 Reserves to manage multiple budgets
Thousands of app integrations

Banking services provided by Middlesex Federal Savings F.A., Member FDIC

Learn More

Which is Better: Fifth Third Bank or Novo?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Fifth Third Bank or Chase.

In short: Novo's checking is notable.

Articles on Fifth Third Bank

Fifth Third Bank Review

Fifth Third Bank has higher balance requirements and high service fees if they're not met. But it offers some unique programs. Read on to see if Fifth Third Bank is a good fit for you.