Novo vs Citizens Bank
Novo is a fee-free online business checking with lots of good features. How does it compare to Citizens Bank? 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 Citizens Bank has over 1,000 branches on the East Coast. It offers a wide range of banking products and services, as well as financial tools to keep you on track. The GoalTrack Savings program offers gift card incentives for reaching your savings goals.
Compare Novo with Citizens Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Learn More | |
Novo | Citizens Bank | |
|---|---|---|
Free Business Checking - | Personal Checking and Savings Account - $400 Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | Several types of Savings accounts. 0.01% APY. No minimum opening deposit. $4.99 monthly maintenance fee, unless you have a minimum daily balance of $200 in your account, or have a qualifying Citizens Bank checkings account. |
| CD | Several types of CD accounts. Terms ranging from 7-14 month. 0.03% - 2.75% APY. Some APY rates may require qualifying Citizens Bank Checking Account. Minimum opening deposit $1000 for all accounts. | |
| Checking | No monthly fees; no balance requirements | |
| Monthly Fee | ||
| Money Market | Several types of Money Market accounts. 0.01% APY. No minimum opening deposit. Monthly maintenance fee of $10, unless you have a minimum daily balance of $2500. Other Money Market accounts have no monthly maintenance fee but require qualifying Citizens Bank Checking Account. | |
| APY | ||
| Minimum Deposit to Open | $50 to access all Novo's features | |
| ACH Transfer Fee | ||
| ATMs | Up to $7 per month reimbursement of ATM fees worldwide | |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | 24/7 Telephone Customer Service |
| Incoming Wire Transfer Fee | ||
| IRA CD | Terms ranging from 1 - 120 months. Minimum opening deposit $250. No monthly maintenance fee. | |
| Locations | ||
| Out of Network ATM Fee | Up to $7 per month ATM fee reimbursement | |
| Outgoing Wire Transfer Fee | ||
| Overdraft Fee | ||
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Checking | | |
| Mobile App | |  |
| Customer Service | | |
| CD | | |
| Money Market | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | East Coast bank with solid deposit products to help meet goals... |
| Visit Site | Learn More | |
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. Citizens Bank: Pricing information from published website as of 12/28/2024 based on 10011 zip code. | ||
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
Spend $1500 with your Novo card within 90 days, and get $75
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
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
Which is Better: Novo or Citizens 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 Bluevine.
In short: Novo's mobile app is outstanding. Citizens Bank's savings and customer service are worth mentioning. In particular, the customer service is impressive.
Articles on Novo
Novo Review
Is Novo Safe and Legit
Articles on Citizens Bank
Citizens Bank Review
Citizens Bank High Yield Savings
