Novo vs Navy Federal Credit Union
Novo is a fee-free online business checking with lots of good features. How does it compare to Navy Federal Credit Union? Read our comparison chart below.
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| Visit Site | Learn More | |
Novo | Navy Federal Credit Union | |
|---|---|---|
Free Business Checking - | Referral Program - Up to $500 Bonus - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 20 Reserves | Share Savings Account: 0.25% APY. $5 minimum deposit. A Membership Savings Account with a $5 minimum is required to establish and maintain membership. |
| CD | Standard Certificate: as high as 4.05%. Terms of 3 months to 7 years. Minimum deposit of $1,000. | |
| Checking | No monthly fees; no balance requirements | Free Active Duty Checking, Free Easy Checking, Free EveryDay Checking, Flagship Checking, Free Campus Checking, Business Checking Accounts |
| Monthly Fee | ||
| APY | ||
| Minimum Deposit to Open | $50 to access all Novo's features | |
| Mobile App | ||
| ACH Transfer Fee | ||
| ATMs | up to $7 per month reimbursement of ATM fees worldwide | Over 1.7 million Navy Federal and CO-OP Network ATMs |
| Balance Requirement | ||
| Cash Deposit Fee | ||
| Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | Phone: 888-842-6328 24/7 customer support Online chat |
| Incoming Wire Transfer Fee | ||
| IRA CD | As high as 4.05%. Terms of 3 months to 7 years. Minimum deposit of $1,000. | |
| 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 | | |
| Fees | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Fee-free online business checking with lots of good features... | Savings account with low APY, best for military personnel... |
| 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. Navy Federal Credit Union: Pricing information from published website as of 03/24/2025 based on 91107 zip code. | ||
Free Business Checking
- $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 Navy Federal Credit Union?
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.
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