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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
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Novo

Wells Fargo

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

SPECIAL OFFER
Personal Checking Account - $200 Bonus - Learn More

Read Wells Fargo Review

 

Benefits and Features

SavingsNo savings account, but you add up to 5 Reserves0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, or primary account owner is 24 years old or under
CD Standard Term CD: 0.01% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 0.02% APY if you maintain a linked Portfolio by Wells Fargo relationship.
CheckingNo monthly fees; no balance requirementsClear Access Banking, Everyday Checking, Portfolio by Wells Fargo
Money Market Also known as the Platinum Savings Account. 0.01% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 0.02% requires account linked to Portfolio by Wells Fargo relationship.
APY
N/A
 
Customer ServicePhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm ESTAvailable 24 hours a day, 7 days a week.
Minimum Deposit to Open$50 to access all Novo's features 
ACH Transfer Fee
$0
 
ATMsUnlimited reimbursement of all ATM fees worldwideMore than 13,000 ATMs across the country.
Balance Requirement
None
 
Cash Deposit Fee
N/A
 
Incoming Wire Transfer Fee
$0
 
IRA CD Standard Term CD: 0.01% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 0.02% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account.
IRA Money Market 0.01% APY. $100 minimum opening deposit.
Locations
Online only
Approximately 5,400 retail banking branches coast to coast.
Out of Network ATM Fee
Unlimited ATM fee rebates
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$27
 
Monthly Fee
$0
 
 

CreditDonkey® Reviews

 Novo
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty Star
Mobile AppStarStarStarStarStar
Pros & ConsPros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Bottom LineFee-free online business checking with lots of good features... Read full review Read full review
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Free Business Checking

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Wells Fargo: Pricing information from published website as of 03/25/2022 based on 91107 zip code.

Novo

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

Which is Better: Novo or Wells Fargo?

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.


Articles on Novo

Novo Review

Novo Bank provides digital banking services for entrepreneurs and small businesses. Explore Novo's features, business perks, and fees in this review.

Is Novo Safe and Legit

Novo is a platform offering banking services for small businesses and freelancers. But is it safe and legit? Read on to find out.

Articles on Wells Fargo

Wells Fargo Bank Review

Wells Fargo offers nationwide access with thousands of ATMs and branch locations. But are their checkings and savings accounts right for you? Read on to see the best options.

Wells Fargo Bank Hours

Wells Fargo is one of the biggest banks in the country. Here's when you can visit a branch near you.

Wells Fargo Routing Number

Not all routing numbers are the same for Wells Fargo. Here's how to find the routing number for your bank account.

Which Do You Think is Best?





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