Finance & Banking Software
Novo
Completely free business checking with no monthly fees, no minimums, and no transaction limits.
Solo / FreelancerSmall businessNorth America
Last reviewed Jul 17, 2026 · Pricing verified Jul 17, 2026
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DEV-TOP · horizontalOur take
Best for solo founders and very small businesses that want genuinely free checking with no tiers to navigate — there's no premium tier to grow into, so fast-scaling teams may outgrow Novo's simplicity.
Choose this if...
- Freelancers and solo founders who want zero-fee checking with no minimums
- Small businesses that don't need multi-user approval workflows or high-yield treasury tools
Look elsewhere if...
- You need multiple team members with granular card/approval controls (see Relay or Ramp instead)
- Your business isn't US-incorporated
Visit Novo
This is a direct link to Novo— we don't currently earn anything from it.
Pricing
Verified Jul 17, 2026 against Novo's own pricing page.
| Plan | Monthly | Annual | Key limits |
|---|---|---|---|
| Novo Checking | Free | Free | No monthly fees, no minimum balance, unlimited transactions; up to $7/mo reimbursed in third-party ATM fees domestically and internationally; free incoming wires |
Free tier reality
There is no paid tier at all — Novo's single checking account is free with no monthly fee, no minimum balance, and no stated transaction limits. Revenue comes from interchange and partner referrals rather than account fees, so the "free tier" is simply the whole product.
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DEV-MID · rectanglePros
- Genuinely free with no tiers, no minimum balance, and no transaction caps
- ATM fee reimbursement is a real, practical perk for a no-fee account
- Simple, fast account opening aimed at solo/small businesses
Cons
- No paid tier for teams that outgrow single-user, single-workflow banking
- As a fintech (not a bank), it relies on a single partner bank (Middlesex Federal Savings) for FDIC coverage
- No cash deposit support and limited branch/in-person options
Key features
- No monthly fees, no minimum balance
- Third-party ATM fee reimbursement (up to $7/mo)
- Free incoming wires
- Up to 20 savings "Reserves" buckets within checking
- 40+ integrations (Stripe, QuickBooks, Square, etc.)
- Built-in invoicing
Integrations
- VERIFY
Platforms
- web
- ios
- android
Regional fit
US-only. Novo is a fintech, not a bank — deposits are FDIC-insured (up to $250,000) through partner bank Middlesex Federal Savings, F.A.
- North America
Best for
Alternatives
Stripe
Pick this instead if: Developers and technical teams wanting maximum flexibility and API control
Mercury
Pick this instead if: US startups and small businesses wanting free checking with modern software
Brex
Pick this instead if: Startups wanting unlimited corporate cards with no per-user fee at the entry level
Ramp
Pick this instead if: Smaller teams wanting unlimited cards and expense automation without a per-user fee
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DEV-BOTTOM · horizontalWas this review of Novo helpful?
Novo FAQ
Questions about this tool
Is Novo free?
Yes, there's a free tier. There is no paid tier at all — Novo's single checking account is free with no monthly fee, no minimum balance, and no stated transaction limits. Revenue comes from interchange and partner referrals rather than account fees, so the "free tier" is simply the whole product.
How much does Novo cost?
Free. We verify pricing directly against Novo's own pricing page — see the pricing table above for the full breakdown of plans, and check the verified date before making a decision, since software pricing changes often.
Who is Novo best for?
Freelancers and solo founders who want zero-fee checking with no minimums Small businesses that don't need multi-user approval workflows or high-yield treasury tools
Who should avoid Novo?
You need multiple team members with granular card/approval controls (see Relay or Ramp instead) Your business isn't US-incorporated
Does Novo work well outside the US?
US-only. Novo is a fintech, not a bank — deposits are FDIC-insured (up to $250,000) through partner bank Middlesex Federal Savings, F.A.
What are the best alternatives to Novo?
Worth comparing: Stripe, Mercury, Brex, Ramp. See the Alternatives section above for why you might pick one of these instead.