Novo vs HSBC Bank
Novo is a fee-free online business checking with lots of good features. How does it compare to HSBC? 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 HSBC is a large multi-national bank that focuses on banking and wealth management services for international high net worth clients. With a global presence in over 64 countries, clients will access privileges around the world.
Compare Novo with HSBC, side-by-side.
 |  | |
| Visit Site | Visit Site | |
Novo | HSBC Bank | |
|---|---|---|
Free Business Checking - | HSBC Premier - Earn Up to $7,000 - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | Premier Relationship Savings: 3.30% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY) |
| CD | 3.15% to 3.50% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 3.35%. Minimum deposit of $1,000 to open. | |
| Checking | No monthly fees; no balance requirements | Premier Checking to enjoy premium banking with both local and global benefits |
| Monthly Fee | ||
| APY | ||
| Minimum Deposit to Open | $50 to access all Novo's features | |
| ACH Transfer Fee | ||
| ATMs | up to $7 per month reimbursement of ATM fees worldwide | Any HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates. |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | |
| Incoming Wire Transfer Fee | ||
| Locations | 21 branches in the US; Global presence in more than 64 countries and territories worldwide | |
| Out of Network ATM Fee | up to $7 per month ATM fee reimbursement | |
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
| | |
| Savings |  | |
| Checking |  | |
| Mobile App | | |
| Customer Service | | |
| Pros & Cons | Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | |
| Visit Site | Visit 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 09/27/2025. HSBC: Data points including rates, fees, terms, and benefits was obtained on 01/08/2026 from published websites and is believed to be accurate, but not guaranteed. | ||
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
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
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.
Articles on Novo
Novo Review
Is Novo Legit
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