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Novo vs PNC Bank

Novo is a fee-free online business checking with lots of good features. How does it compare to PNC 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 PNC Bank has 2,300+ branches in 29 states plus D.C. mostly in the East. Checking accounts offer a unique Virtual Wallet feature with financial tools to help achieve goals. Account fees are easily waived by meeting account balance or direct deposit requirements.

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

 Novo
 Visit SiteLearn More
 

Novo

PNC Bank

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Virtual Wallet with Performance Select Checking - $400 Bonus - Learn More

Read PNC Bank Review

 

Benefits and Features

SavingsNo savings account, but you add up to 20 ReservesUp to 4.45% APY. Only available in eligible markets.
CD 0.01% to 4.55% APY. Terms of 7 days to 10 years.
CheckingNo monthly fees; no balance requirements
  • Virtual Wallet: $7/month fee, unless you have 1) $500/month in qualifying direct deposits, or 2) maintain a $500 balance, or 3) be at least 62 years old.
  • Virtual Wallet with Performance Spend: $15/month fee, unless you have 1) $2,000 in qualifying direct deposits, or 2) a $2,000 balance, or 3) $10,000 in combined PNC consumer deposits.
  • Virtual Wallet with Performance Select: $25/month fee, unless you have 1) $5,000 in qualifying direct deposits, or 2) a $5,000 balance (including up to 7 linked checking accounts), or 3) $25,000 in combined balances or PNC consumer deposits, and/or investments.
Select Markets Only*
Monthly Fee
$0
 
Money Market Up to 0.05% APY. Only available in eligible markets.
APY
N/A
 
Minimum Deposit to Open$50 to access all Novo's features 
Mobile App 
iOS & Android
ACH Transfer Fee
$0
 
ATMsUp to $7 per month reimbursement of ATM fees worldwideApproximately 60,000 PNC and partner ATMs
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
  • Personal Credit Cards: Automated account information is available 24/7
  • Other products & services:
    Monday - Friday:
    8:00 a.m. - 9:00 p.m. ET
    Saturday - Sunday:
    8:00 a.m. - 5:00 p.m. ET
Incoming Wire Transfer Fee
$0
 
Locations
Online only
approximately 2,300+ locations
Out of Network ATM FeeUp to $7 per month ATM fee reimbursement 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$0
 
 

CreditDonkey® Reviews

 Novo
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarEmpty StarEmpty StarEmpty Star
Money MarketStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • No monthly fees
  • ATM refunds up to $7 per month
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Pros:
  • Virtual Wallet tools
  • Relatively easy to waive fees
  • Free student account
Cons:
  • Limited branches
  • Low APY on some savings accounts
Bottom LineFee-free online business checking with lots of good features... Read full reviewEast Coast bank with advanced financial tools to help achieve goals... Read full review
 Visit SiteLearn More

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 09/27/2024.

PNC Bank: Pricing information from published website as of 10/02/2024 based on 91107 zip code.

Novo

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
Novo

Spend $1500 with your Novo card within 90 days, and get $75

Expires 12/31/2024
  • $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
Novo

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

Which is Better: Novo or PNC 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.


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.

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 PNC Bank

PNC Bank Review

PNC Bank has relatively low requirements to waive fees and offers many financial tools to help you meet savings goals. Read on to see if this East Coast bank is right for you.

PNC Savings Account Interest Rate

Looking for a well-known bank with good savings rates? Check out these savings accounts from PNC Bank.

PNC High Yield Savings

PNC's High Yield Savings account features a strong APY with no required balance. Sounds too good to be true, right? Read on to know all the details.

How to Close a PNC Account

Closing a bank account can be a pain. It's easy to make a mistake. Find out how to properly close your PNC account online, over the phone, or at a branch.

PNC Bank Hours

PNC Bank is open 5-6 days a week, depending on the location. Here's when you can visit a branch near you.

PNC Routing Number

Using the wrong routing number could send your money to the wrong place. Find the right PNC routing number for your transactions.

Which Do You Think is Best?





Which Bank Account is Right for You?


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About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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