Novo vs Citizens Bank
Novo is a fee-free online business checking with lots of good features . How does it compare to Citizens 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 Citizens Bank has over 1,100 branches on the East Coast. It offers a wide range of banking products and services, as well as financial tools to keep you on track. The GoalTrack Savings program offers gift card incentives for reaching your savings goals.
Compare Novo with Citizens Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Novo | Citizens Bank | |
|---|---|---|
Free Business Checking - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 10 Reserves | Several types of Savings accounts. 0.01% APY. No minimum opening deposit. $4.99 monthly maintenance fee, unless you have a minimum daily balance of $200 in your account, or have a qualifying Citizens Bank checkings account. |
| CD | Several types of CD accounts. Terms ranging from 14-month. 2.75% APY. Some APY rates may require qualifying Citizens Bank Checking Account. Minimum opening deposit $1000 for all accounts. | |
| Checking | No monthly fees; no balance requirements | |
| Money Market | Several types of Money Market accounts. 0.01% APY. No minimum opening deposit. Monthly maintenance fee of $10, unless you have a minimum daily balance of $2500. Other Money Market accounts have no monthly maintenance fee but require qualifying Citizens Bank Checking Account. | |
| APY | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | 24/7 Telephone Customer Service |
| Minimum Deposit to Open | $50 to access all Novo's features | |
| ACH Transfer Fee | ||
| ATMs | Unlimited reimbursement of all ATM fees worldwide | More than 3100 ATMs across 11 states. |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Incoming Wire Transfer Fee | ||
| IRA CD | Terms ranging from 1 - 120 months. Minimum opening deposit $250. No monthly maintenance fee. | |
| Locations | Approximately 1,018 branches across the country | |
| Out of Network ATM Fee | ||
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
| Monthly Fee | ||
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Checking | | |
| Customer Service | | |
| Mobile App | |  |
| CD | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | East Coast bank with solid deposit products to help meet goals... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Citizens Bank: Pricing information from published website as of 05/30/2023 based on 10011 zip code. | ||
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
Which is Better: Novo or Citizens 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: Novo's mobile app is outstanding. Citizens Bank's savings and customer service are worth mentioning. In particular, the customer service is impressive.
Articles on Novo
Novo Review
Is Novo Safe and Legit
Articles on Citizens Bank
