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.
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| Visit Site | Learn More | |
Novo | Fifth Third Bank | |
|---|---|---|
Free Business Checking - | Fifth Third Business Checking Account™ - | |
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 4.41% APY. Terms are 3, 7, 13, 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 | 2,100+ Fifth Third ATMs plus 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 | 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. Fifth Third Bank: Pricing information from published website as of 12/16/2024 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
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.
Articles on Novo
Novo Review
Is Novo Legit
Articles on Fifth Third Bank
