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Novo vs Axos Bank

Novo is a fee-free online business checking with lots of good features . How does it compare to Axos Bank? Read our comparison chart below.

 NovoAxos Bank
 Visit SiteVisit Site
 

Novo

Axos Bank

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Rewards Checking - Up to 1.25% APY - Learn More

Read Axos Bank Review

 

Benefits and Features

SavingsNo savings account, but you add up to 5 Reserves0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)
CD 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum
CheckingNo monthly fees; no balance requirementsRewards Checking: Up to 1.00% APY
Cashback Checking: Up to 1% cashback
Money Market 
0.25% APY
APY
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST 
Minimum Deposit to Open$50 to access all Novo's features 
ACH Transfer Fee
$0
 
ATMsUnlimited reimbursement of all ATM fees worldwide 
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Incoming Wire Transfer Fee
$0
 
Locations
Online only
 
Out of Network ATM Fee
Unlimited ATM fee rebates
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$27
 
Monthly Fee
$0
 
 

CreditDonkey® Reviews

 NovoAxos Bank
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarHalf Star
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarEmpty StarEmpty Star
Money MarketStarStarStarStarHalf Star
ATMsStarStarStarStarHalf Star
LocationsStarStarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Pros:
  • Checking with rewards
  • No monthly fee
  • Domestic ATM rebates
Cons:
  • Low CD rates
  • No physical branches
Bottom LineFee-free online business checking with lots of good features... Read full reviewFull-service online bank with excellent cashback and interest checking... Read full review
 Visit SiteVisit Site

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.

Axos Bank: Pricing information from published website as of 07/01/2020.

Novo

Free Business Checking

  • $0 monthly service fee
  • $50 deposit to unlock all features
  • Unlimited ATM fee rebates
Banking services provided by Middlesex Federal Savings F.A., Member FDIC
Axos Bank
Member FDIC

Rewards Checking - Up to 1.25% APY

  • $100 Promo with Code "RC100"
  • Up to 1.25% APY
  • Zero monthly maintenance fees
  • Zero overdraft or NSF fees
  • Zero minimum monthly balance reqs
  • Unlimited domestic ATM fee reimbursements
  • Zero Minimum Balance Requirement
  • Only $50 to open an account
Axos Bank
Member FDIC

High Yield Savings - Up to 0.61% APY

  • 0.61% APY on balance < $25,000
  • 0.25% APY on balance $25K-$100K
  • 0.15% APY on balance > $100K
  • No monthly maintenance fees
  • No minimum balance requirements
  • $250 minimum opening deposit
  • Free incoming wires
  • Zero minimum balance requirement
Axos Bank
Member FDIC

Essential Checking

  • Unlimited domestic ATM reimbursements
  • No monthly maintenance fees
  • No annual fee
  • No overdraft or non-sufficient funds fee

Which is Better: Novo or Axos Bank?

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

In short: Axos Bank's savings and checking are notable. In particular, the checking is excellent.


Articles on Novo

Novo Review

Novo Bank provides digital banking services for entrepreneurs and small businesses. Explore Novo's features, business perks, and fees in this review.

Is Novo Safe and Legit

Novo is a platform offering banking services for small businesses and freelancers. But is it safe and legit? Read on to find out.

Articles on Axos Bank

Is Axos Bank Safe and Legit

Is Axos Bank safe and legit? Find out if Axos is a good bank and learn more about its pros, cons, and common complaints.

Axos Bank Review

Axos Bank offers full-service banking completely online with no fees. Find out below whether they can replace your traditional bank account.

Which Do You Think is Best?





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