Novo vs Citibank

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

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.

While Citibank has over 700 branches across the United States. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

	Novo	Citibank
		Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	OFFER Checking with Enhanced Direct Deposit - $300 Cash Bonus Read Citibank Review
	Benefits and Features
Savings	No savings account, but you add up to 20 Reserves	Citi® Accelerate High-Yield Savings: Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois. Citi® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.
CD
Checking	No monthly fees; no balance requirements
Monthly Fee	$0
Money Market
APY	N/A
Minimum Deposit to Open	$50 to access all Novo's features
ACH Transfer Fee	$0
ATMs	Up to $7 per month reimbursement of ATM fees worldwide	More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.
Balance Requirement	None
Cash Deposit Fee	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	24/7 Live Customer Service (Telephone)
Incoming Wire Transfer Fee	$0
IRA CD
IRA Money Market
Locations	Online only	More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami)
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
Checking
Mobile App
Customer Service
CD
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits Can't send wires	Pros: Perks for high balance customers Many fee-free ATMs Global presence Cons: No free checking option Higher balance requirements Low savings APY
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Large national bank best for high balance customers... Read full review
	Visit Site	Learn More
	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. Novo: Pricing information from published website as of 04/10/2024. Citibank: Pricing information from published website as of 04/09/2024. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

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

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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: Novo or Citibank?

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 checking is notable.