Novo vs KeyBank
Novo is a fee-free online business checking with lots of good features. How does it compare to KeyBank? 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 KeyBank has over 1,200 branches in 15 states. It offers a range of checking and savings accounts. Some relationship products offer perks like lower loan rates and higher savings APY. Key Bank has higher monthly service fees and heavier requirements to waive, but there is a free checking option.
Compare Novo with KeyBank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Visit Site | Visit Site | |
Novo | KeyBank | |
|---|---|---|
Free Business Checking - | Key Select Checking® - $200 Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | 0.01% APY. $10 minimum opening deposit. $4 monthly maintenance fee unless you are an owner of a KeyBank consumer checking account (including the KeyBank Hassle-Free Account). |
| CD | Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500. | |
| Checking | No monthly fees; no balance requirements | |
| Monthly Fee | ||
| Money Market | 2.93% blended APY on balances of $25,000 or more. $5,000 minimum opening deposit. Monthly maintenance charge of $20. Can be waived with $25,000 daily balance OR having a relationship package checking account. | |
| 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 | More than 40,000 KeyBank and Allpoint ATMs nationwide |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | Telephone Service available 24/7 |
| Incoming Wire Transfer Fee | ||
| Locations | More than 1,200 branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington. | |
| Out of Network ATM Fee | Up to $7 per month ATM fee reimbursement | |
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Checking | |  |
| Mobile App | | |
| Customer Service | | |
| CD | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | Bank with a variety of deposit products and great financial tools... |
| 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 04/10/2024. KeyBank: Pricing information from published website as of 04/10/2024 based on 44114 zip code. | ||
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
Key Select Checking® - $200 Bonus
- Open a Key Select Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
Key Select Checking® is a premium checking account that earns interest and a $100 cash bonus year after year with qualifying activities and has a waivable monthly maintenance fee.
Key Smart Checking® - $200 Bonus
- Open a Key Smart Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
Which is Better: Novo or KeyBank?
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.
Articles on Novo
Novo Review
Is Novo Safe and Legit
Articles on KeyBank
KeyBank Review
KeyBank Routing Number
Which Do You Think is Best?
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