Novo vs TD Bank
Novo is a fee-free online business checking with lots of good features . How does it compare to TD Bank? Read our comparison chart below.
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Novo | TD Bank | |
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Free Business Checking - | TD $300 Beyond Checking Bonus - | |
Benefits and Features | ||
Savings | No savings account, but you add up to 5 Reserves | 0.05% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older. |
CD | 0.05% APY (up to 0.05% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account). | |
Checking | No monthly fees; no balance requirements | TD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠ |
Money Market | 0.01% - 0.02% APY (up to 0.03% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old. | |
APY | ||
Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | 24/7 Live Customer Service (Telephone) |
Minimum Deposit to Open | $50 to access all Novo's features | |
ACH Transfer Fee | ||
ATMs | Unlimited reimbursement of all ATM fees worldwide | Approximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida |
Balance Requirement | ||
Cash Deposit Fee | ||
Incoming Wire Transfer Fee | ||
IRA CD | 0.05% APY (up to 0.05% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). | |
Locations | 1300 locations along the east coast. | |
Out of Network ATM Fee | ||
Outgoing Wire Transfer Fee | ||
Overdraft Fee | ||
Monthly Fee | ||
CreditDonkey® Reviews | ||
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Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
CD | ![]() ![]() ![]() ![]() ![]() | |
Money Market | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Fee-free online business checking with lots of good features... | East Coast bank with relatively low minimum balance requirements... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code. |
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- Unlimited ATM fee rebates
TD Beyond Checking - $300 Cash Bonus
- Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
- Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Rush Bill Payments and more.
- Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
- TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
- Overdraft Payback - Get overdraft fees automatically reversed up to two times a year.
- Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
- TD checking accounts come with an instant-issue debit card. And, you can pay with confidence with Zero Liability protection and 24/7 fraud monitoring.
- Monthly maintenance fee waived on one TD Simple Checking℠ account and any Savings and Money Market accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.
TD Convenience Checking℠ - $150 Cash Bonus
- Earn $150 when you receive direct deposits totaling $500 or more within 60 days
- Low minimum daily balance of $100 waives the $15 monthly fee.
- Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee.
- Instantly replace a lost or worn debit card by visiting a TD Bank location near you
- Access accounts via Online Banking with Bill Pay, Online Statements and TD Bank Mobile Deposit, with 24/7 cash access at TD ATMs in the U.S. and Canada – plus 24/7 Live Customer Service
- Get a 0.25% discount on TD Bank Home Equity and Personal Loans
Which is Better: Novo or TD 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: TD Bank's customer service is outstanding.