Novo vs BMO Harris Bank
Novo is a fee-free online business checking with lots of good features . How does it compare to BMO Harris Bank? Read our comparison chart below.
Novo offers all-in-one banking for digital businesses. It includes up to 10 Reserves, free unlimited invoicing, and over a thousand business app integrations. But there's no cash deposits. There is no monthly fee.
While BMO Harris Bank has 900 branches in the Midwest. Smart Advantage checking account has no fee and no minimum balance if you opt for eStatements. Savings need just $100 to open with easy ways to waive fees. Special Rate CDs require a $5,000 minimum opening deposit.
Compare Novo with BMO Harris Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
 | | |
Novo | BMO Harris Bank | |
|---|---|---|
Free Business Checking - | BMO Harris Smart Advantage™ Account - $200 Cash Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 10 Reserves | 0.01% APY. $5 reward every month you save $200 or more, for the first year. |
| CD | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit. | |
| Checking | No monthly fees; no balance requirements | Smart Advantage, Smart Money, Premier |
| Money Market | 0.05% APY. $25 minimum opening deposit. $10 monthly fee, waived with a $10,000 minimum daily balance. | |
| APY | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | Mon-Fri: 7am - 10pm (CT); Sat-Sun 8am - 8pm |
| Minimum Deposit to Open | $50 to access all Novo's features | |
| ACH Transfer Fee | ||
| ATMs | Unlimited reimbursement of all ATM fees worldwide | 40,000+ BMO Harris and Allpoint ATMs |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Incoming Wire Transfer Fee | ||
| IRA CD | 0.05% - 0.25% APY. Terms of 3 months to 5 years. $1,000 minimum opening deposit | |
| IRA Money Market | IRA Premium Savers: $100 minimum opening deposit. No monthly maintenance fee | |
| Locations | ||
| Out of Network ATM Fee | ||
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
| Monthly Fee | ||
CreditDonkey® Reviews | ||
| | |
| Savings |  |  |
| Checking | | |
| Customer Service | |  |
| Mobile App | | |
| CD | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | Fee-free online business checking with lots of good features... | Midwest bank with options for low and high-balance customers... |
| | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. | ||
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- Unlimited ATM fee rebates
Free Business Checking
- $0 monthly service fee
- Unlimited ATM fee rebates
- Free ACHs, incoming wires, and mailed checks
- Up to 10 Reserves to manage multiple budgets
- Thousands of app integrations
Novo Boost (available for payments processed via Stripe)
- Get paid faster and speed up cash flow
- Access funds in hours instead of days
- Connect with 50+ tools to help grow your business
BMO Harris Smart Advantage™ Account - $200 Cash Bonus
Open a new BMO Harris Smart Advantage™ Account online and get a $200 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.
BMO Harris Smart Money™ Account - $200 Cash Bonus
Open a new BMO Harris Smart Money™ Account online and get a $200 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.
BMO Harris Premier™ Account - $350 Cash Bonus
Open a new BMO Harris Premier™ Account and get a $350 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days of account opening. Offer is limited to one per customer and is not available for existing BMO Harris personal checking customers (including signers on joint accounts) or those who have closed a BMO Harris personal checking account within the past 12 months. Conditions apply.
Which is Better: Novo or BMO Harris 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.
Articles on Novo
Novo Review
Is Novo Legit
Articles on BMO Harris Bank
BMO Harris Bank Review
Is BMO Harris a Real Bank
