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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
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Novo

KeyBank

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Referral Program - Up to $500 Bonus - Learn More

Read KeyBank Review

 

Benefits and Features

SavingsNo savings account, but you add up to 5 Reserves0.01% APY. $10 minimum opening deposit. $4 monthly maintenance fee unless you 1) have $300 daily balance, or have 2) $5 monthly minimum direct deposit or recurring transfer from another Key account, or 3) have a HelloWallet Financial Wellness Score of at least 1.
CD Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500. Promotional CD: 0.05% APY. Terms of 14 months. Minimum deposit of $100,000.
CheckingNo monthly fees; no balance requirements 
Money Market 0.01% APY. $50 minimum opening deposit. Monthly maintenance charge of $12. Can be waived with $5,000 daily balance or monthly direct deposit of at least $25.00 or having a qualifying Key Checking Account.
APY
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm ESTTelephone Service available 24/7
Minimum Deposit to Open$50 to access all Novo's features 
ACH Transfer Fee
$0
 
ATMsUnlimited reimbursement of all ATM fees worldwideMore than 1,500 ATMs in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Incoming Wire Transfer Fee
$0
 
Locations
Online only
More than 1,200 branches in 16 states: Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Out of Network ATM Fee
Unlimited ATM fee rebates
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$27
 
Monthly Fee
$0
 
 

CreditDonkey® Reviews

 Novo
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
CDStarStarStarHalf StarEmpty Star
Money MarketStarStarHalf StarEmpty StarEmpty Star
Pros & ConsPros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Pros:
  • HelloWallet financial tools
  • Free checking option
  • 24/7 customer service
Cons:
  • Limited branches
  • High account fees
Bottom LineFee-free online business checking with lots of good features... Read full reviewBank with a variety of deposit products and great financial tools... Read full review
 Visit SiteLearn More

Free Business Checking

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

KeyBank: Pricing information from published website as of 3/9/2022 based on 44114 zip code.

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

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

Novo Bank provides digital banking services for entrepreneurs and small businesses. Explore Novo's features, business perks, and fees in this review.

Is Novo Safe and 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 KeyBank

KeyBank Review

Are you looking for a no-frills checking account or maybe a bank that offers relationship banking services/interest rates? You may have found your fit with KeyBank.

KeyBank Routing Number

Looking to transfer money in or out of your KeyBank checking or savings account? Find your KeyBank routing number and learn more about money transfers in our guide.

Which Do You Think is Best?





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