Novo Bank Fees Overview
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has a straightforward, fee-free approach for its business banking accounts.
Cost: Free.
There are no fees associated with opening a business checking account at . The sign-up process is completely free and can be completed through the or .
Business Checking Account
Cost: Free.
does not charge a monthly maintenance fee for its business checking accounts, which is a significant benefit for small business owners looking to minimize operational costs.
Additional Accounts
Cost: Free.
’s additional accounts (e.g., savings accounts or sub-accounts) are also free of charge, with no monthly maintenance fees.
ATM Withdrawals (in-network)
Cost: Free at 24,000+ ATMs in the Allpoint network.
ATM Withdrawals (out-of-network)
Cost: $2.50 per transaction.
International ATM Withdrawals
Cost: $2.50 per transaction + third-party ATM fees.
International ATM withdrawals are charged a fee of $2.50 per transaction, in addition to any fees imposed by the ATM operator abroad.
Cash Deposits
Cost: Varies.
Debit Card Purchases
Cost: Free.
Foreign Transaction Fees
Cost: 1% of the transaction amount.
ACH Transfers (Incoming/Outgoing)
Cost: Free.
Overdraft Protection
Cost: Free.
Insufficient Funds Fee
Cost: Free.
Incoming Domestic Wire Transfer
Cost: Free.
Outgoing Domestic Wire Transfer
Cost: $25 per transfer.
Incoming International Wire Transfer
Cost: Free.
Outgoing International Wire Transfer
Cost: $45 per transfer.
Sending an outgoing international wire transfer incurs a fee of $45 per transaction.
Sub-Accounts (for savings or budget organization)
Cost: Free.
Monthly Maintenance Fee for Savings Accounts
Cost: Free.
Cost: Free.
Stop Payment Request
Cost: $30 per request.
Paper Statement Fee
Cost: Free (digital-only statements).
Fee Type
Estimated Cost
Account Opening Fee
Free
Monthly Maintenance Fee
Free
ATM Withdrawal Fee (in-network)
Free
ATM Withdrawal Fee (out-of-network)
$2.50 per transaction
ATM Withdrawal Fee (international)
$2.50 per transaction + third-party fees
Cash Deposit Fee (via GreenDot)
$4.95 - $5.95 per deposit
Debit Card Purchase Fee
Free
Foreign Transaction Fee
1% of the transaction amount
ACH Transfer Fee
Free
Overdraft Fee
Free
Domestic Wire Transfer (incoming)
Free
Domestic Wire Transfer (outgoing)
$25 per transfer
International Wire Transfer (incoming)
Free
International Wire Transfer (outgoing)
$45 per transfer
Sub-Account Maintenance Fee
Free
Stop Payment Fee
$30 per request
Paper Statement Fee
Free (digital statements only)
Novo Bank offers a highly competitive and transparent fee structure, ideal for small business owners and entrepreneurs looking for an efficient and affordable banking solution. With no monthly maintenance fees, free ATM withdrawals at a large network, and free domestic wire transfers, Novo is one of the most cost-effective digital banking options available. Additionally, the ability to organize funds into sub-accounts and integrate with accounting software makes Novo an attractive choice for businesses of all sizes. While some services, such as international wire transfers and cash deposits, come with fees, Novo’s overall fee structure is minimal compared to traditional banks.
offers various banking services related to ATM access, transactions, and other banking features.
customers can withdraw funds for free at over 24,000 ATMs through the Allpoint network, which includes ATMs located in various retail locations such as CVS, Walgreens, and Target.
charges a fee of $2.50 per transaction for using ATMs outside of the Allpoint network. Additional fees may apply if the ATM operator charges their own fee.
does not have a built-in cash deposit network, but it offers a workaround through third-party services.
does not allow direct cash deposits into accounts; however, you can deposit cash at locations that use the GreenDot network (e.g., Walmart). There is a fee for cash deposits, which typically ranges from $4.95 to $5.95 per deposit depending on the location.
Making purchases with your is free of charge.
charges a 1% fee for foreign transactions, including purchases made in foreign currencies or through international merchants.
ACH transfers to and from your account are free, making it a convenient option for business owners to send and receive payments electronically.
does not charge overdraft fees, offering a more transparent approach to managing accounts.
does not allow overdrafts. If you try to make a purchase or withdrawal that exceeds your balance, the transaction will be declined, but no overdraft fees are applied.
does not charge insufficient funds fees. If a payment or transaction exceeds your account balance, it will simply not be processed.
allows wire transfers for both domestic and international transactions.
does not charge for incoming domestic wire transfers.
For outgoing domestic wire transfers, charges a fee of $25 per transfer.
does not charge for receiving international wire transfers.
's primary offering is its business checking account, but it also provides features like sub-accounts for saving or categorizing funds.
offers sub-accounts to help business owners separate funds for savings or specific budget categories. There are no fees for creating or maintaining these sub-accounts.
There are no monthly maintenance fees for any of ’s savings-related accounts or sub-accounts.
does not charge a fee for closing your account.
Closing your account with is free of charge, and you can do so at any time without incurring any penalties.
provides several additional banking features that may incur minor fees.
If you need to stop a check or ACH transfer, charges a $30 fee per stop payment request.
provides digital-only statements, and there is no fee for accessing your monthly account statements online. However, if you request paper statements, they may be subject to a fee (though this service is rarely used).
