Novo vs Axos Bank

Novo is a fee-free online business checking with lots of good features . How does it compare to Axos Bank? Read our comparison chart below.

Novo offers all-in-one banking for digital businesses. It includes up to 10 Reserves, free unlimited invoicing, and over a thousand business app integrations. But there's no cash deposits. There is no monthly fee.

While Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.

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

	Novo	Axos Bank
		Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER Rewards Checking - Up to 3.30% APY - Learn More Read Axos Bank Review
	Benefits and Features
Savings	No savings account, but you add up to 10 Reserves	0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)
CD		0.20% APY. Terms of 3 months to 5 years. $1,000 minimum
Checking	No monthly fees; no balance requirements	Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback
Money Market		0.25% APY
APY	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST
Minimum Deposit to Open	$50 to access all Novo's features
ACH Transfer Fee	$0
ATMs	Unlimited reimbursement of all ATM fees worldwide
Balance Requirement	None
Cash Deposit Fee	N/A
Incoming Wire Transfer Fee	$0
Locations	Online only
Out of Network ATM Fee	Unlimited ATM fee rebates
Outgoing Wire Transfer Fee	N/A
Overdraft Fee	$27
Monthly Fee	$0
	CreditDonkey® Reviews

Savings
Checking
Customer Service
Mobile App
CD
Money Market
ATMs
Locations
Pros & Cons	Pros: No monthly fees Unlimited ATM refunds Lots of software integrations Cons: No cash deposits Can't send wires	Pros: Checking with rewards No monthly fee Domestic ATM rebates Cons: Low CD rates No physical branches
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Full-service online bank with excellent cashback and interest checking... Read full review
	Visit Site	Visit Site
	Free Business Checking	Rewards Checking - Up to 3.30% APY Basic Business Checking - Up to $400 Bonus Essential Checking
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 10/10/2023. Axos Bank: Pricing information from published website as of 11/26/2023.

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

Learn More

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

Learn More

Member FDIC

Rewards Checking - Up to 3.30% APY

Get Deal

Use promo code AXOS300 and apply by December 31st, to earn up to a $300 bonus!
Up to 3.30% APY
Zero monthly maintenance fees
Zero overdraft or NSF fees
Zero minimum monthly balance reqs
Unlimited domestic ATM fee reimbursements
Online debit card management
Simple, 3-step process for direct deposit
Only $50 to open an account

Member FDIC

Basic Business Checking - Up to $400 Bonus

Get Deal

Business owners get up to $400 welcome bonus!*
Open a business checking account by Dec. 31 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.*
Zero opening deposit and cash deposits accepted
Zero minimum monthly balance requirements
Two domestic wire reimbursements monthly
Unlimited domestic ATM fee reimbursements
Enhanced Visa benefits and first 50 checks free
Dedicated relationship manager and more

Member FDIC

Essential Checking

Unlimited domestic ATM reimbursements
No monthly maintenance fees
No annual fee
No overdraft or non-sufficient funds fee

Get Deal

Which is Better: Novo or Axos 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 Chase.

In short: Axos Bank's savings and checking are notable. In particular, the checking is excellent.