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Novo vs Fifth Third Bank

Novo is a fee-free online business checking with lots of good features. How does it compare to Fifth Third Bank? 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. Find out more

While Fifth Third Bank has 1,300 branches across the Midwest and Southwest. Basic checking account requires $1,500 minimum balance to avoid fees. Promotional CD offers a high APY for terms up to 27 months with a $5,000 minimum opening deposit. Find out more

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

 NovoFifth Third Bank
Member FDIC
 Visit SiteVisit Site
 

Novo

Fifth Third Bank

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Personal Checking Account - $325 Bonus - Learn More

Read Fifth Third Bank Review

 

Benefits and Features

SavingsNo savings account, but you add up to 20 Reserves
0.01% APY
CD 0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 2.00% - 4.25% APY. Terms are 4, 6, 12, and 24 months, minimum deposit of $5,000.
CheckingNo monthly fees; no balance requirements
  • Fifth Third Momentum® Checking: No monthly service charge
  • Fifth Third Preferred Checking®: Interest-bearing checking account
  • Fifth Third Student Banking: Personal checking account for students age 13 and up.
Monthly Fee
$0
 
Money Market 0.01% APY Standard Rate (0.01% Relationship Rate)
APY
N/A
 
Minimum Deposit to Open$50 to access all Novo's features 
ACH Transfer Fee
$0
 
ATMsUp to $7 per month reimbursement of ATM fees worldwideAllpoint® and 7-Eleven® network of ATMs. More than 50,000 fee-free ATMs nationwide.
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
  • Mon-Fri 8:00 am - 6:00 pm (EST)
  • Sat 10:00 am - 4:00 pm (EST)
Incoming Wire Transfer Fee
$0
 
Locations
Online only
1,300 branches, including 100 Bank Mart® locations across the country
Out of Network ATM FeeUp to $7 per month ATM fee reimbursement 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$0
 
 

CreditDonkey® Reviews

 NovoFifth Third Bank
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarStarEmpty Star
Money MarketStarStarHalf StarEmpty 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:
  • Free Express Checking
  • Free student checking
  • Promo CD with high APY
Cons:
  • Higher balance requirements
  • Low savings APY
  • Limited branches
Bottom LineFee-free online business checking with lots of good features... Read full reviewMidwest & Southwest bank with high balance requirements... Read full review
 Visit SiteVisit Site

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.

Fifth Third Bank: Pricing information from published website as of 03/05/2024 based on 45202 zip code.

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
Fifth Third Bank
Member FDIC

Personal Checking Account - $325 Bonus

Open an eligible Fifth Third checking account. Make direct deposits totaling $500 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.

Expires Tomorrow
Fifth Third Bank
Member FDIC

Fifth Third Momentum® Checking - $325 Bonus

Open an eligible Fifth Third checking account. Make direct deposits totaling $500 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.

Expires Tomorrow

Which is Better: Novo or Fifth Third 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 checking is notable.


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 Fifth Third Bank

Fifth Third Bank Review

Fifth Third Bank has higher balance requirements and high service fees if they're not met. But it offers some unique programs. Read on to see if Fifth Third Bank is a good fit for you.

Which Do You Think is Best?





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