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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.

 NovoHSBC Bank
 Visit SiteVisit Site
 

Novo

HSBC Bank

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
HSBC $500 Premier Checking Bonus - Learn More

Read HSBC Review

 

Benefits and Features

SavingsNo savings account, but you add up to 5 ReservesPremier Relationship Savings: 2.15% APY when you link an eligible Premier checking account and meet one of four eligibility criteria (otherwise 0.05% APY)
CD 2.00% to 3.00% APY. Terms of 6 months, 1 year, or 2 years. 12-month CD APY of 2.75%. Minimum deposit of $1,000 to open.
CheckingNo monthly fees; no balance requirementsPremier Checking: $50 monthly service fee waived if you maintain a minimum balance of $75,000 in combined HSBC deposit and investment accounts, OR have at least $5,000 in total direct deposits per month.
APY
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
24/7
Minimum Deposit to Open$50 to access all Novo's features 
ACH Transfer Fee
$0
 
ATMsUnlimited reimbursement of all ATM fees worldwideAny HSBC ATMs in the U.S.; HSBC ATMs abroad may incur additional fees and foreign conversion rates.
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Incoming Wire Transfer Fee
$0
 
Locations
Online only
25 branches in the US; Global presence in more than 64 countries and territories worldwide
Out of Network ATM Fee
Unlimited ATM fee rebates
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$27
 
Monthly Fee
$0
 
 

CreditDonkey® Reviews

 NovoHSBC Bank
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarEmpty StarEmpty Star
CDStarStarStarStarHalf Star
Pros & ConsPros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Pros:
  • Global presence
  • Transfer money globally
  • Priority customer service
Cons:
  • Limited US presence
  • High account minimums
Bottom LineFee-free online business checking with lots of good features... Read full reviewFull-service global bank ideal for high net worth expats and travelers... Read full review
 Visit SiteVisit Site

Free Business Checking

HSBC $500 Premier Checking Bonus

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

HSBC: Data points including rates, fees, terms, and benefits was obtained on September 23, 2022 from published websites and is believed to be accurate, but not guaranteed.

Novo

Free Business Checking

  • $0 monthly service fee
  • $50 deposit to unlock all features
  • Unlimited ATM fee rebates
Banking services provided by Middlesex Federal Savings F.A., Member FDIC
HSBC
Member FDIC

HSBC Premier Checking - $500 Welcome Deposit

Expires 2/15/2023
  • Receive a $500 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities.
  • Open your new HSBC Premier checking account online, using this offer page, by February 15, 2023.
  • Make recurring Qualifying Direct Deposits totaling at least $10,000 per month from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening.
  • You will automatically receive the $500 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple.
  • Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.

Which is Better: Novo or HSBC?

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 and mobile app are notable. In particular, the mobile app is outstanding. HSBC's savings is notable.


Articles on Novo

Novo Review

Novo Bank 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 HSBC Bank

HSBC Reviews

HSBC Bank offers a global banking account ideal for those who live and work overseas. Is it right for your needs? Read on for the pros and cons.

HSBC Premier Checking Bonus

HSBC Premier Checking is offering a $500 Welcome Deposit for eligible new customers who open an account with qualifying activities. Find out how to qualify for this promotion.

HSBC Advance Checking

Are you tired of not earning interest on your checking account? Maybe you want more than just check writing privileges in exchange for depositing your money. HSBC Advance Checking may make you look at banks in a different light.

HSBC Premier Checking

If you work, live, or travel abroad, the HSBC Premier Checking account may be what you need. Read on to see if this global checking account is right for you.

Which Do You Think is Best?





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