Novo vs Relay

Novo is a fee-free online business checking with lots of good features. How does it compare to Relay? 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 Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.

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

	Visit Site	Visit Site
	Novo	Relay
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER No-Fee Business Checking - Learn More Read Relay Review
	Benefits and Features
Savings	No savings account, but you add up to 20 Reserves	Earn up to 2.68% APY. Earn 0.91% APY on Starter Plan, 1.55% APY on Grow Plan, and 2.68% APY on Scale Plan.
Checking	No monthly fees; no balance requirements	Up to 20 individual business checking accounts; no monthly fees; no overdraft fees
Monthly Fee	$0	$0
APY	N/A	N/A
Minimum Deposit to Open	$50 to access all Novo's features	$0
ACH Transfer Fee	$0	$0
ATMs	up to $7 per month reimbursement of ATM fees worldwide	55,000+ AllPoint ATMs
Balance Requirement	None	None
Cash Deposit Fee	N/A	$0 for cash deposits at Allpoint ATMs
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday
Incoming Wire Transfer Fee	$0	$0
Locations	Online only	Online only
Out of Network ATM Fee	up to $7 per month ATM fee reimbursement	Fee from ATM owner
Outgoing Wire Transfer Fee	N/A	$8 for domestic; $5 (Local Network), $25 (SWIFT Network) for international
Overdraft Fee	$0	$0
	CreditDonkey® Reviews
Savings
Checking
Mobile App
Customer Service
Fees
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits No interest-bearing accounts	Pros: Up to 20 checking accounts Up to 50 debit cards $0 monthly fee Earn interest with automated savings Cons: No paper checks
Bottom Line	Fee-free online business checking with lots of good features... Read full review	One of the best online business banking accounts for large teams... Read full review
	Visit Site	Visit Site
	Free Business Checking	No-Fee Business Checking 25% Discount on Scale Plan
Novo: Pricing information from published website as of 05/07/2026.

No-Fee Business Checking

• $0 monthly service fee
• $0 minimum opening deposit
• Open up to 20 individual business checking accounts
• Earn up to 2.68% APY with automated savings
• Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank, Member FDIC.

Get Deal

25% Discount on Scale Plan

Get Deal

Get Scale Plan for $90/month instead of $120/month. This offer is for a limited time only and may change without notice.

Which is Better: Novo or Relay?

Still need help deciding which business is better? Read the in-depth reviews below. You may also be interested in comparing Novo or Bluevine.

In short: Relay's checking is excellent.

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.

• Novo vs Bluevine
• Novo vs Chase Business $500 Bonus
• Novo vs Lili

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.

• Novo vs Axos Bank

Articles on Relay

Relay Financial Review

Relay Financial offers online banking services for businesses. Yes, it is free. But, is it the right platform for you? Find out.

Which Do You Think is Best?

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