Novo vs Fifth Third Bank
Novo is a fee-free online business checking with lots of good features. How does it compare to Fifth Third 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 Fifth Third Bank has 1,300 branches across the Midwest and Southwest. Basic checking account requires $1,500 minimum balance to avoid fees. Promotional CD offers a high APY for terms up to 27 months with a $5,000 minimum opening deposit.
Compare Novo with Fifth Third Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Visit Site | Visit Site | |
Novo | Fifth Third Bank | |
|---|---|---|
Free Business Checking - | Personal Checking Account - $300 Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | |
| CD | 0.01% APY. Terms ranging from 7 days to 84 months, minimum deposit of $500. Featured CD: 2.26% to 4.00% APY. Terms are 4, 8, 12, 24, and 60 months, minimum deposit of $5,000. | |
| Checking | No monthly fees; no balance requirements |
|
| Monthly Fee | ||
| Money Market | 0.01% APY Standard Rate (0.01% Relationship Rate) | |
| 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 | Allpoint® and 7-Eleven® network of ATMs. More than 40,000 fee-free ATMs nationwide. |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST |
|
| Incoming Wire Transfer 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... | Midwest & Southwest bank with high balance requirements... |
| Visit Site | Visit Site | |
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. Fifth Third Bank: Pricing information from published website as of 11/20/2024 based on 45202 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
Personal Checking Account - $300 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $2,000 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Fifth Third Momentum® Checking - $300 Bonus
Open an eligible Fifth Third checking account. Make direct deposits totaling $2,000 or more within 90 days of account opening to qualify for bonus. The cash bonus will be deposited into your new checking account within 10 business days of completing qualifying activity requirements.
Which is Better: Novo or Fifth Third 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 checking is notable.
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Novo Review
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