Novo Vs. Found
When it comes to choosing a business checking account, you want to make sure you’re getting the best features and services for your money. In this head-to-head comparison, we’ll take a look at two popular options: Novo and Found.
General Details
Monthly Fee
$0
$0
Banking Partner
Middlesex Federal Savings, Member FDIC
Piermont Bank, Member FDIC
Editorial Score
Card
Rating
Fees & Charges
Minimum Balance
$0
$0
Mandatory first deposit
$50
$0
Overdraft Fees
$27
$0
Early Account closing Fee
$0
$0
ATM Withdrawal fee
Free + Full refund on external ATM fees
Free. No refund on external ATM fees
Features
ACH Transfers
Incoming ACH $0
Outgoing ACH $0
Incoming ACH $0
Outgoing ACH $0
Wire Transfers
Incoming Wire $0
Outgoing Wire N/A
(Available with Wise integration)
Incoming Wire $0
No outgoing Wire transfers
Card
Novo Business Debit Mastercard
Found business debit Mastercard
Sub Accounts
Up to 5 sub-accounts
Cash Deposit
Check Deposit
Saving Account
1.5% APY available for Found+ users, pro plan for $14.99/month
Invoice Management
Unlimited free invoices
Unlimited free invoices
Integrations
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more
Paypal, Quickbooks, Xero, Square, Zelle, Venmo, and Expensify.
Bottom Line
Why?
Novo offers a completely fee-free business checking account with strong integration options for popular business tools. This makes it a great choice for businesses that prioritize a fee-free banking experience with strong integrations.
Found offers a fee-free business checking account with automatic transaction categorization and a cash deposit network, making it a great option for sole proprietors who need to deposit cash frequently. While Found doesn’t offer the same level of integration with business tools as Novo, it still integrates with popular accounting software like QuickBooks and Xero. Overall, Found is an excellent choice for businesses that need a fee-free banking experience with a cash deposit network.
Editorial Score
Winner!
Novo Vs. Found
When it comes to choosing a business checking account, you want to make sure you’re getting the best features and services for your money. In this head-to-head comparison, we’ll take a look at two popular options: Novo and Found.
General Details
Monthly Fee
$0
$0
Banking Partner
Middlesex Federal Savings, Member FDIC
Piermont Bank, Member FDIC
Editorial Score
Card
Rating
Fees & Charges
Minimum Balance
$0
$0
Mandatory first deposit
$50
$0
Overdraft Fees
$27
$0
Early Account closing Fee
$0
$0
ATM Withdrawal fee
Free + Full refund on external ATM fees
Free. No refund on external ATM fees
Features
ACH Transfers
Incoming ACH $0
Outgoing ACH $0
Incoming ACH $0
Outgoing ACH $0
Wire Transfers
Incoming Wire $0
Outgoing Wire N/A
(Available with Wise integration)
Incoming Wire $0
No outgoing Wire transfers
Card
Novo Business Debit Mastercard
Found business debit Mastercard
Sub Accounts
Up to 5 sub-accounts
Cash Deposit
Check Deposit
Saving Account
1.5% APY available for Found+ users, pro plan for $14.99/month
Invoice Management
Unlimited free invoices
Unlimited free invoices
Integrations
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more
Paypal, Quickbooks, Xero, Square, Zelle, Venmo, and Expensify.
Bottom Line
Novo and Found both offer fee-free business checking accounts with unlimited transactions and no minimum balance requirements. Novo’s strength lies in its integration with popular business tools, while Found offers a cash deposit network that may make it more suitable for sole proprietors who need to deposit cash frequently. While Novo is the winner of this comparison, businesses should consider their specific needs when choosing between these two options.