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.

Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.

While 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.

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

	Relay	Novo

	Visit Site	Visit Site
	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	Earn up to 3.76% APY: Earn 1.75% APY on monthly average savings balances of less than $10,000, 2.75% APY on monthly average savings balances between $10,000 and $50,000, and 3.76% APY on monthly average savings balances of more than $50,000.	No savings account, but you add up to 20 Reserves
Checking	Up to 20 individual business checking accounts; no monthly fees; no overdraft fees	No monthly fees; no balance requirements
Monthly Fee	$0	$0
APY	N/A	N/A
Minimum Deposit to Open	$0	$50 to access all Novo's features
ACH Transfer Fee	$0	$0
ATMs	55,000+ AllPoint ATMs	up to $7 per month reimbursement of ATM fees worldwide
Balance Requirement	None	None
Cash Deposit Fee	$0 for cash deposits at Allpoint ATMs	N/A
Customer Service	Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
Incoming Wire Transfer Fee	$0	$0
Locations	Online only	Online only
Out of Network ATM Fee	Fee from ATM owner	up to $7 per month ATM fee reimbursement
Outgoing Wire Transfer Fee	$5 for domestic; $10 for international	N/A
Overdraft Fee	$0	$0
	CreditDonkey® Reviews

Checking
Fees
Mobile App
Customer Service
Savings
Pros & Cons	Pros: Up to 20 checking accounts Up to 50 debit cards $0 monthly fee Earn interest with automated savings Cons: No paper checks	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits Can't send wires
Bottom Line	One of the best online business banking accounts for large teams... Read full review	Fee-free online business checking with lots of good features... Read full review
	Visit Site	Visit Site
	No-Fee Business Checking	Free Business Checking
Novo: Pricing information from published website as of 05/09/2025.

No-Fee Business Checking

$0 monthly service fee
$0 minimum opening deposit
Open up to 20 individual business checking accounts
Earn up to 3% APY with automated savings
Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank, Member FDIC.

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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

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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

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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 Bank of America.

In short: Relay's checking is excellent.