Novo vs Citibank

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

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.

While Citibank has over 600 branches across the United States. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.

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

		CitibankBluevineChase Business $300 BonusLiliChaseBank of AmericaUS BankHSBC Member FDIC
	Visit Site	Learn More
	Novo	Citibank
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	OFFER Citi Checking - $1,500 Bonus Read Citibank Review
	Benefits and Features
Savings	No savings account, but you add up to 20 Reserves	Citi® Accelerate High-Yield Savings: Available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois. Citi® Savings: Available in CA, CT, DC, MD, NV, NJ, NY, VA, and select markets in Florida and Illinois.
CD		9-Month Fixed Rate CD - 4.10% APY 6-Month Fixed Rate CD - 3.25% APY 1-Year Fixed Rate CD - 2.25% APY 5-Year Fixed Rate CD - 2.00% APY 3-Month Fixed Rate CD - 0.05% APY
Checking	No monthly fees; no balance requirements
Monthly Fee	$0
Money Market		CitiBusiness® Insured Money Market Account - 4.50% APY
APY	N/A
Minimum Deposit to Open	$50 to access all Novo's features
ACH Transfer Fee	$0
ATMs	Up to $7 per month reimbursement of ATM fees worldwide	More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo.
Balance Requirement	None
Cash Deposit Fee	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	24/7 Live Customer Service (Telephone)
Incoming Wire Transfer Fee	$0
IRA CD
IRA Money Market
Locations	Online only	645 retail bank branches concentrated in the six key metropolitan areas of New York, Chicago, Los Angeles, San Francisco, Miami, and Washington, D.C.
Out of Network ATM Fee	Up to $7 per month ATM fee reimbursement
Outgoing Wire Transfer Fee	N/A
Overdraft Fee	$0
	CreditDonkey® Reviews
Savings
Checking
Mobile App
Customer Service
CD
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits Can't send wires	Pros: Perks for high balance customers Many fee-free ATMs Global presence Cons: No free checking option Higher balance requirements Low savings APY
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Large national bank best for high balance customers... Read full review
	Visit Site	Learn More
	Free Business Checking Spend $1500 with your Novo card within 90 days, and get $75 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. Novo: Pricing information from published website as of 09/27/2024. Citibank: Pricing information from published website as of 12/03/2024. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

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

Learn More

Spend $1500 with your Novo card within 90 days, and get $75

Get Deal

Expires in 5 days

• $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

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

Learn More

Which is Better: Novo or Citibank?

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 Bluevine.

In short: Novo's checking is notable.

Articles on Novo

Novo Review

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

• Novo vs Bluevine
• Novo vs Chase Business $300 Bonus
• Novo vs Lili

Is Novo Safe

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

• Novo vs Axos Bank

Articles on Citibank

Citibank Review

Citibank offers banking services and credit cards. But service fees and balance requirements are on the high side. Is it the right bank for you?

• Citibank vs Chase
• Citibank vs Bank of America
• Citibank vs US Bank

Citibank Open Account

Opening a Citi bank account is easy. Take a look at what you'll need, plus find out how to earn a bonus

• Citibank vs HSBC

Citi Savings Account Interest Rate

Citibank boasts two savings accounts with varying rates and low fees. But which one should you open? Read on for all the details.

Citibank High Yield Savings

Citi now offers high-yield savings with one of the best interest rate. But it's only available in select markets. Read this review to see if it's good for you.

Citibank Routing Number

Looking to transfer money in or out of your Citibank checking or savings account? Find your Citibank routing number and learn about money transfers below.

Which Do You Think is Best?