Novo vs Santander Bank
Novo is a fee-free online business checking with lots of good features. How does it compare to Santander 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 Santander Bank has over 600 branches in the Northeast. Offers a range of checking and savings accounts, with simple requirements to waive service fees. High balance customers can earn higher interest. Their CDs offer high a APY with $500 minimum opening deposit.
Compare Novo with Santander Bank, side-by-side.
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| Visit Site | Learn More | |
Novo | Santander Bank | |
|---|---|---|
Free Business Checking - | 6-Month CD - 4.00% APY - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | 0.03% APY. $25 Minimum opening deposit. $1 monthly fee, unless 1) You have a Santander Checking Account, or have 2) $100 average daily balance in your savings account. |
| CD | 3.50% and 4.00% APY for 6 and 12 months, respectively. Minimum deposit of $500, with Santander Checking Account. | |
| Checking | No monthly fees; no balance requirements | |
| Monthly Fee | ||
| Money Market | 0.03% APY. Must be Santander Premier Plus Checking Account holder. Minimum deposit of $25. No monthly fee. | |
| 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 | Over 2000 ATMs throughout the Northeast, including in many CVS/pharmacy® locations |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | Mon-Sun 8:00 am - 8:00 pm (ET) (excluding Christmas Day) |
| Incoming Wire Transfer Fee | ||
| Locations | ||
| 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 | | |
| Pros & Cons | Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | |
| Visit Site | Learn 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 09/27/2025. Santander Bank: Pricing information from published website as of 10/18/2025 based on 02109 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
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
Is Novo Safe and Legit
Which Do You Think is Best?
Which Bank Account is Right for You?
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