Novo Vs. Wells Fargo
Compare Novo and Wells Fargo for business banking solutions. Novo offers streamlined processes and innovative features, while Wells Fargo provides trusted services and an extensive branch network. Discover their unique offerings and considerations to make an informed choice for your business’s banking needs.
General Details
Monthly Fee
$0
$10 / $25 / $75
*According to plan
Banking Partner
Middlesex Federal Savings, Member FDIC
Wells Fargo Bank, Member FDIC
Editorial Score
Card
Rating
Fees & Charges
Mandatory first deposit
$50
$25
Overdraft Fees
$27
$35
Early Account closing Fee
$0
$0
ATM Withdrawal fee
Free + Full ATM fee reimbursement
Free at Wells Fargo ATMs
$2.5-$5 fee at non-Wells Fargo ATMs
Features
Transactions
Unlimited fee-free transactions
100 /250 free transactions
*According to plan
then $0.50 per transaction
Sub Accounts
Up to 5 sub-accounts
N/A
Check Deposit
Cash Deposit
Invoice Management
3rd-party Integrations
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more
Quicken, QuickBooks, Xero, ADP®, and more.
Bottom Line
Why?
Novo stands out as the winner with its robust app stack and minimal fees, ideal for Ecommerce businesses, startups, and micro-businesses seeking automated operations. Its comprehensive solution streamlines financial processes, providing seamless integration, simplified bookkeeping, and cost-effective fee structures.
While Wells Fargo may not have emerged as the winner in this comparison, it still offers notable strengths. Its established reputation and extensive branch network make it a suitable choice for businesses that value in-person support and a traditional banking experience.
Editorial Score
Winner!
Novo Vs. Wells Fargo
Compare Novo and Wells Fargo for business banking solutions. Novo offers streamlined processes and innovative features, while Wells Fargo provides trusted services and an extensive branch network. Discover their unique offerings and considerations to make an informed choice for your business’s banking needs.
General Details
Monthly Fee
$0
$10 / $25 / $75
*According to plan
Banking Partner
Middlesex Federal Savings, Member FDIC
Wells Fargo Bank, Member FDIC
Editorial Score
Card
Rating
Fees & Charges
Mandatory first deposit
$50
$25
Overdraft Fees
$27
$35
Early Account closing Fee
$0
$0
ATM Withdrawal fee
Free + Full ATM fee reimbursement
Free at Wells Fargo ATMs
$2.5-$5 fee at non-Wells Fargo ATMs
Features
Transactions
Unlimited fee-free transactions
100 /250 free transactions
*According to plan
then $0.50 per transaction
Sub Accounts
Up to 5 sub-accounts
N/A
Check Deposit
Cash Deposit
Invoice Management
3rd-party Integrations
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more
Quicken, QuickBooks, Xero, ADP®, and more.
Bottom Line
Novo is a standout banking solution, offering versatility and suitability for businesses of all types. With its digital accessibility and tailored features, Novo provides convenience and modern tools for effective financial management. It is a cost-effective solution that benefits a diverse range of businesses, from entrepreneurs to small business owners. However, for businesses seeking in-person support and a traditional banking experience, Wells Fargo’s trusted reputation and extensive branch network make it a solid choice.