Business account

Novo Business Checking

Monthly fee, APY, bonus, and minimum deposit are copied from the provider's page, with the date we checked.

Reviewed by Jason Keyz. Facts checked Nov 12, 2026.

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Best for Online checking for an independent business

Novo Business Checking

Novo

Fintech (banking by Middlesex Federal Savings, F.A., Member FDIC)

Monthly fee: $0No monthly maintenance fee and no waiver requirement. Standard ACH is $0. Novo does not charge an ATM fee and reimburses third-party ATM fees up to $7 a month.as of Nov 12, 2026 source
Min. deposit: $0as of Nov 12, 2026 source

No monthly fee
No minimum balance
Standard ACH is $0

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What we have verified

Bank or fintech: Fintech. A partner bank provides the banking services unless the provider's own site says otherwise.
In the provider's words: Novo is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A., Member FDIC.as of Nov 12, 2026, source
Partner bank: Middlesex Federal Savings, F.A., Member FDIC
Deposit insurance: Eligible deposits are insured up to $5,000,000 per depositor through Middlesex Federal Savings, F.A., Member FDIC, and other banks in its sweep network.

FDIC insurance, when it applies, protects deposits if an insured bank fails. With a fintech, coverage comes through the partner bank. See the FDIC guide to deposit insurance and our explainer.