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.

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 24 months with a $5,000 minimum opening deposit.

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

		Fifth Third BankBluevineChase Business Up to $500 BonusLiliBank of AmericaU.S. BankWells FargoBMO Member FDIC
	Visit Site	Learn More
	Novo	Fifth Third Bank
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER Fifth Third Business Checking Account™ - Learn More Read Fifth Third Bank Review
	Benefits and Features
Savings	No 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% to 3.10% APY. Terms are 10, 14, and 24, minimum deposit of $5,000.
Checking	No 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
ATMs	up to $7 per month reimbursement of ATM fees worldwide	2,100+ Fifth Third ATMs plus 40,000+ fee-free ATMs nationwide
Balance Requirement	None
Cash Deposit Fee	N/A
Customer Service	Phone, 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	1,087 branch locations
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
Money Market
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits No interest-bearing accounts	Pros: Free Express Checking Free student checking Promo CD with high APY Cons: Higher balance requirements Low savings APY Limited branches
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Midwest & Southwest bank with high balance requirements... Read full review
	Visit Site	Learn More
	Free Business Checking	Fifth Third Business Checking Account™ Personal Checking Account - $300 Bonus
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 09/27/2025. Fifth Third Bank: Pricing information from published website as of 11/16/2025 based on 45202 zip code.

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

Learn More

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 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 Bluevine.

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.

• Novo vs Bluevine
• Novo vs Chase Business Up to $500 Bonus
• Novo vs Lili

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.

• Novo vs Axos Bank

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.

• Fifth Third Bank vs Bank of America
• Fifth Third Bank vs U.S. Bank
• Fifth Third Bank vs Wells Fargo

Which Do You Think is Best?