Novo vs Wells Fargo

Novo is a fee-free online business checking with lots of good features. How does it compare to Wells Fargo? 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 Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.

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

	Novo	Wells Fargo

	Visit Site	Learn More
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER Savings Account - $525 Bonus - Learn More Read Wells Fargo Review
	Benefits and Features
Savings	No savings account, but you add up to 20 Reserves	0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under.
CD		Standard Fixed Term CD available online: 1.50% to 2.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch.
Checking	No monthly fees; no balance requirements	Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Monthly Fee	$0
Money Market		Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship.
APY	N/A
Minimum Deposit to Open	$50 to access all Novo's features
ACH Transfer Fee	$0
ATMs	Up to $7 per month reimbursement of ATM fees worldwide	approximately 11,000 ATMs across the country
Balance Requirement	None
Cash Deposit Fee	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	Available 24 hours a day, 7 days a week.
Incoming Wire Transfer Fee	$0
IRA CD		Standard Term CD: 0.01% to 2.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market		Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit.
Locations	Online only	Approximately 4,700 retail banking branches coast to coast.
Out of Network ATM Fee	Up to $7 per month ATM fee reimbursement
Outgoing Wire Transfer Fee	N/A
Overdraft Fee	$0
	CreditDonkey® Reviews

Savings
Checking
Mobile App
Customer Service
CD
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits Can't send wires	Pros: Low requirements for Everyday Checking Full service bank 24/7 customer service Cons: Low savings rates Not in all states
Bottom Line	Fee-free online business checking with lots of good features... Read full review	A "big 4" bank with a good range of checking accounts and full services... Read full review
	Visit Site	Learn More
	Free Business Checking	Savings Account - $525 Bonus Personal Checking Account - $300 Bonus Personal Checking Account - $3,500 Bonus
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 04/10/2024. Wells Fargo: Pricing information from the published website as of 04/10/2024 is based on the 91101 zip code.

Free Business Checking

$0 monthly service fee
$50 deposit to unlock all features
ATM fee refunds up to $7 per month

Banking services provided by Middlesex Federal Savings F.A., Member FDIC

Learn More

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

Banking services provided by Middlesex Federal Savings F.A., Member FDIC

Learn More

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