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Relay vs Novo

Relay is an one of the best online business banking accounts for large teams . How does it compare to Novo? Read our comparison chart below.

 RelayNovo
 Visit SiteVisit Site
 

Relay

Novo

SPECIAL OFFER
No-Fee Business Checking - Learn More

Read Relay Review

SPECIAL OFFER
Free Business Checking - Learn More

Read Novo Review

 

Benefits and Features

Savings
No savings features
No savings account, but you add up to 10 Reserves
CheckingUp to 20 individual business checking accounts; no monthly fees; no overdraft feesNo monthly fees; no balance requirements
APY
N/A
N/A
Customer ServicePhone: Monday - Friday, 9 am - 5 pm ET; Email: EverydayPhone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
Minimum Deposit to Open
$0
$50 to access all Novo's features
ACH Transfer Fee
$0
$0
ATMs
32,000+ AllPoint ATMs
Unlimited reimbursement of all ATM fees worldwide
Balance Requirement
None
None
Cash Deposit Fee
N/A
N/A
Incoming Wire Transfer Fee
$0
$0
Locations
Online only
Online only
Out of Network ATM Fee
Fee from ATM owner
Unlimited ATM fee rebates
Outgoing Wire Transfer Fee$5 for domestic; $10 for international
N/A
Overdraft Fee
$0
$27
Monthly Fee
$0
$0
 

CreditDonkey® Reviews

 RelayNovo
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarStar
FeesStarStarStarStarStar
SavingsEmpty StarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • Up to 20 checking accounts
  • Up to 50 debit cards
  • $0 monthly fee
Cons:
  • No cash deposits
  • No paper checks
Pros:
  • No monthly fees
  • Unlimited ATM refunds
  • Lots of software integrations
Cons:
  • No cash deposits
  • Can't send wires
Bottom LineOne of the best online business banking accounts for large teams... Read full reviewFee-free online business checking with lots of good features... Read full review
 Visit SiteVisit Site

No-Fee Business Checking

Relay

No-Fee Business Checking

  • $0 monthly service fee
  • $0 minimum opening deposit
  • Open up to 20 individual business checking accounts
  • Issue up to 50 Mastercard┬« debit cards to your team
Banking services provided by Evolve Bank & Trust; Member FDIC.
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
Novo

Free Business Checking

  • $0 monthly service fee
  • Unlimited ATM fee rebates
  • Free ACHs, incoming wires, and mailed checks
  • Up to 10 Reserves to manage multiple budgets
  • Thousands of app integrations
Banking services provided by Middlesex Federal Savings F.A., Member FDIC
Novo

Novo Boost (available for payments processed via Stripe)

  • Get paid faster and speed up cash flow
  • Access funds in hours instead of days
  • Connect with 50+ tools to help grow your business

Which is Better: Relay or Novo?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Relay or Chase.

In short: Relay's checking is excellent.


Articles on Relay

Relay Financial Review

Relay Financial offers online banking services for businesses. Yes, it is free. But, is it the right platform for you? Find out.

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 Legit

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

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

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