Novo vs Synchrony Bank

Novo is a fee-free online business checking with lots of good features . How does it compare to Synchrony Bank? Read our comparison chart below.

	Novo	Synchrony Bank


	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER High Yield Savings - 1.65% APY - Learn More Read Synchrony Bank Review
	Benefits and Features
Savings	No savings account, but you add up to 5 Reserves	1.65% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle
CD		1.00% to 3.25% APY. Terms of 3 months to 5 years. No minimum deposit to open.
Checking	No monthly fees; no balance requirements
Money Market		1.10% APY. No monthly service fee and no minimum deposit.
APY	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)
Minimum Deposit to Open	$50 to access all Novo's features
ACH Transfer Fee	$0
ATMs	Unlimited reimbursement of all ATM fees worldwide	Any ATMs with Plus or Accel logos
Balance Requirement	None
Cash Deposit Fee	N/A
Incoming Wire Transfer Fee	$0
IRA CD		1.00% to 3.25% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market		1.10% APY.
Locations	Online only	Online Only
Out of Network ATM Fee	Unlimited ATM fee rebates
Outgoing Wire Transfer Fee	N/A
Overdraft Fee	$27
Monthly Fee	$0
	CreditDonkey® Reviews

Savings
Checking
Customer Service
Mobile App
Money Market
Pros & Cons	Pros: No monthly fees Unlimited ATM refunds Lots of software integrations Cons: No cash deposits Can't send wires	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Good online bank offering high interest rates... Read full review

	Free Business Checking	High Yield Savings - 1.65% APY Money Market Certificate of Deposit
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Synchrony Bank: Pricing information from published website as of 07/27/2022.

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

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Which is Better: Novo or Synchrony 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 Chase.

In short: Synchrony Bank's savings is excellent.