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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
 Visit SiteLearn More
 

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 20 Reserves2.00% Annual Percentage Yield (APY).
CheckingNo monthly fees; no balance requirementsNo monthly service fee; no minimum balance; no overdraft fees; no foreign transaction fees
Monthly Fee
$0
$0
APY
N/A
 
Minimum Deposit to Open$50 to access all Novo's features
$0
Mobile App 
iOS & Android
ACH Transfer Fee
$0
 
ATMsUp to $7 per month reimbursement of ATM fees worldwideOver 60,000 fee-free MoneyPass, Allpoint, and Visa Plus Alliance ATMs
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
24/7
Incoming Wire Transfer Fee
$0
 
Locations
Online only
Online only
Out of Network ATM FeeUp to $7 per month ATM fee reimbursement 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$0
 
 

CreditDonkey® Reviews

 Novo
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarStar
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarStarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Pros & ConsPros:
  • No monthly fees
  • ATM refunds up to $7 per month
  • 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
 Visit SiteLearn More

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Novo: Pricing information from published website as of 03/01/2024.

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
  • ATM fee refunds up to $7 per month
Banking services provided by Middlesex Federal Savings F.A., Member FDIC
Novo

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

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 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

Discover the best Chime competitors that can offer you better rewards and a wider range of account options.

Which Do You Think is Best?





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