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.
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 TD Bank has over 1,100 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.
Compare Novo with TD Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 | ||
| Visit Site | Learn More | |
Novo | TD Bank | |
|---|---|---|
Free Business Checking - | TD $300 Beyond Checking Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | 0.02% 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 | 1.00% APY (up to 4.00% for Relationship APY). Terms of 3 to 60 months. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account). | |
| Checking | No monthly fees; no balance requirements | TD Complete Checking, TD Beyond Checking, TD Essential Banking |
| Monthly Fee | ||
| APY | ||
| Minimum Deposit to Open | $50 to access all Novo's features | |
| Mobile App | ||
| ACH Transfer Fee | ||
| ATMs | up to $7 per month reimbursement of ATM fees worldwide | 2,600 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | 24/7 Live Customer Service (Telephone) |
| Incoming Wire Transfer Fee | ||
| IRA CD | 1.00% APY (up to 4.00% for Bump Rate APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). | |
| Locations | ||
| Out of Network ATM Fee | up to $7 per month ATM fee reimbursement | |
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
| ||
| Savings |  |  |
| Checking | |  |
| Mobile App | | |
| Customer Service | | |
| CD | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | Fee-free online business checking with lots of good features... | East Coast bank with relatively low minimum balance requirements... |
| 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 05/09/2025. TD Bank: Pricing information from published website as of 06/26/2025 based on 08034 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
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 Bluevine.
In short: TD Bank's customer service is outstanding.
Articles on Novo
Novo Review
Is Novo Legit
Articles on TD Bank
TD Bank Reviews
TD Beyond Checking Bonus
TD Bank Hours
TD Bank Open Account
TD Routing Number
Which Do You Think is Best?
Which Bank Account is Right for You?
You Might Also Like
