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Novo vs Chime

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

 Novo
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Novo

Chime

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Get Started - Learn More

Read Chime Review

 

Benefits and Features

SavingsNo savings account, but you add up to 5 Reserves0.50% Annual Percentage Yield (APY). The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 1, 2021. No minimum balance required. Must have $0.01 in savings to earn interest.
CheckingNo monthly fees; no balance requirementsNo monthly service fee; no minimum balance; no overdraft fees; no foreign transaction fees
APY
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
24/7
Minimum Deposit to Open$50 to access all Novo's features
$0
Mobile App 
iOS & Android
ACH Transfer Fee
$0
 
ATMsUnlimited reimbursement of all ATM fees worldwideOver 60,000 fee-free MoneyPass, Allpoint, and Visa Plus Alliance ATMs
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Incoming Wire Transfer Fee
$0
 
Locations
Online only
Online only
Out of Network ATM Fee
Unlimited ATM fee rebates
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$27
 
Monthly Fee
$0
$0
 

CreditDonkey® Reviews

 Novo
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarStar
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarStar
Pros & ConsPros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Pros:
  • No account fees
  • Get paycheck 2 days early
  • Up to $200 overdraft coverage
Cons:
  • Hard to deposit cash
Bottom LineFee-free online business checking with lots of good features... Read full review Read full review
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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.

Chime: Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

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

Which is Better: Novo or Chime?

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: Novo's customer service is notable. Chime's savings and checking are 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 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 Chime

Chime Review

Chime has no monthly fees, so what's the catch with the app? Find out how you can get paid two days early and grow your savings.

Chime Alternatives

Chime offers a convenient and rewarding mobile app. But can you earn better rewards and get more account options with one of Chime's top competitors?

Which Do You Think is Best?





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