Top 10 Alternatives to Novo

In this article, we will explore alternatives to Novo, a fintech company known for its online business checking accounts and financial services tailored for small businesses, freelancers, consultants, and the self-employed. Novo offers a range of features including no hidden fees, no minimum balance requirements, and a fully online platform, making it a popular choice for managing business finances.

Reviews

Users have shared a variety of experiences with Novo, highlighting both positive and negative aspects of the service. Many appreciate the absence of hidden fees and the convenience of managing their finances entirely online. The personalized customer service and free ACH transfers are also frequently praised. However, some users have expressed frustration with occasional delays in customer support response times and issues with account setup. Overall, while Novo's features are well-received, there are areas where users feel improvements could be made.

• "The no hidden fees and easy online access make managing my business finances a breeze." - John D.
• "Customer support took too long to respond when I had an issue with my account setup." - Sarah K.

For more detailed reviews, visit Novo Reviews.

Best alternatives to Novo

1. OneSafe

OneSafe is a financial technology company offering a comprehensive financial platform designed for startups and businesses operating in both fiat and cryptocurrencies. It provides streamlined, secure, and tailored neo-banking services, including global payments, corporate cards, and multi-currency support.

• Features: Simple onboarding, global payments, corporate cards, multi-currency support, global accounts, seamless payments, state-of-the-art security measures.
• Pricing: Account opening is free, no minimum balance, no monthly fees, corporate cards and invoices included, 0.1% fee for US domestic payments, 0.2% fee for SEPA payments, 0.2% fee + $25 for international wires, $20 for Fedwire, 1% FX fee on corporate cards, 0.1% fee for USDT transactions, fiat to crypto conversion included.
• Testimonials: Users praise OneSafe for its exceptional customer support and seamless banking solutions. Many highlight its efficiency in managing payroll and expenses, making it an essential tool for Web3 organizations. For more details, visit the OneSafe website.

2. Wallester

Wallester Business offers a comprehensive platform for managing corporate expenses through virtual and physical cards. The service includes real-time expense control, instant card issuance, and detailed financial reporting. It is designed to streamline financial processes, facilitate media buying, and provide full control over corporate spending without any set-up or monthly fees.

• Features: Instant card issuance, real-time transaction monitoring, no set-up or monthly fees, customizable API for workflow integration, recognized as the "Best Expense Management Platform" at the FinTech Breakthrough Awards 2023, invoicing and budget management, global acceptance for various corporate expenses and online media purchasing.
• Pricing: Free package includes 300 virtual cards and unlimited physical cards with no monthly fees. Additional packages are available, such as 3000 virtual cards for €199 per month and 15000 virtual cards for €999 per month. Custom solutions are also available upon request.
• Testimonials: Users generally praise Wallester for its efficient business card and payroll system, with fast assistance through multiple channels. However, some users have reported issues with account suspensions and support. For more detailed reviews, visit the Wallester Reviews page.

3. Tide Bank

Tide offers a smart business bank account with no monthly fees, providing features like simple payment solutions, built-in accounting, and a savings account with 4.07% AER variable interest. The account can be opened in minutes through an easy online process.

• Features: No monthly fees, personalized invoicing, business savings with 4.07% AER variable interest, simple accounting integration, 24/7 security monitoring, 24/7 support, payment links, auto-categorization of transactions, direct debit management, Apple/Google Pay, international payments, CSV exports.
• Pricing: Tide offers a free business bank account with no monthly fees. Users only pay for what they use, with low transaction and ATM fees. Additional features and services may incur separate charges, which are detailed on the Tide website.
• Testimonials: Users generally appreciate the fast account setup and efficient service. One user, Jason K., mentioned, "A super fast track way of starting a business account in one day. Most other banks were 72 hours at best then 3-6 weeks (Nat West)." However, not all feedback is positive. Alex shared, "Terrible experience. Paused our account without warning, after nearly two weeks of having no access to our money they emailed saying they are closing the account." For more detailed reviews, visit the Tide Reviews page.

4. Kontist

Kontist offers a business banking solution designed for self-employed individuals in Germany. It combines a business bank account with automated bookkeeping and business tax returns, all managed through a single app. The service aims to simplify financial management, allowing users to focus on their business.

• Features: All-in-one app combining banking, bookkeeping, and business tax returns, automatic tax calculation, AI-supported bookkeeping, real-time financial insights, comprehensive tax services, mobile & web banking, Visa Business Debit Card, integration with Apple Pay & Google Pay, invoicing tool.
• Pricing: Kontist offers three plans: Free Plan (€0 per month plus VAT, with conditions), Premium Plan (€9 per month plus VAT), and Bookkeeping Plan (€29 per month plus VAT). The Free Plan includes 10 free SEPA transfers per month, with additional transactions costing €0.15 each. The Premium Plan includes unlimited invoices and a physical Visa Debit card, while the Bookkeeping Plan offers unlimited free transactions and advanced VAT return services.
• Testimonials: Users generally appreciate Kontist for its ease of managing finances and avoiding tax surprises. One user, Daniel N Jochem, mentioned, "I have been with Kontist for over two years now. It is a very good service, any questions I have regarding taxes they answer quickly and professionally." However, not all feedback is positive. Tanya shared, "The tax service is extremely overpriced and totally not recommended! I made the mistake of using it for over 1 year as a new business owner and non-German speaker, and their service was minimal." For more detailed reviews, visit the Kontist Reviews page.

5. Wise

Wise offers an international account that allows users to send, receive, and manage money in multiple currencies. It provides cost-effective international transfers, a multi-currency account, and a debit card for spending and withdrawing cash worldwide. Wise emphasizes transparency, low fees, and regulatory compliance.

• Features: Manage money in over 40 currencies, save up to 5x on international transfers compared to traditional banks, spend and withdraw cash in multiple currencies without foreign transaction fees, regulated by the Financial Conduct Authority (FCA), high Trustpilot ratings, dedicated fraud and security teams, 2-factor authentication, earn returns on balances with Wise Interest, international business account for managing cash flow in multiple currencies.
• Pricing: Registering with Wise is free. Sending money fees vary by currency, starting from 0.29%. Holding money in over 40 currencies is free. Receiving money is free for getting account details in 23 currencies and receiving local payments. There is a $6.11 USD fee for receiving USD wire and Swift payments, and a 10 CAD fee for receiving CAD Swift payments. Receiving Swift payments in 21 currencies is free, though correspondent banks might charge fees.
• Testimonials: Users generally appreciate Wise for its multi-currency management and ease of use abroad. Cherilyn A. mentioned, "You can set up and receive multiple currencies. I could use it as my card/debit card abroad. Easy for me to convert the USD funds I have to the currencies of the country I'm vacationing." However, some users have expressed dissatisfaction with customer support. A verified user in Information Technology and Services stated, "Customer Support is the worst among all the products that I used, they're just incompetent. I used Wise for the past 3 years as Personal and Business Account." For more detailed reviews, visit the Wise Business Reviews page.

6. Axos Bank

Axos Bank offers a range of business banking services designed to elevate business operations through digital accounts that provide security, ease, and efficiency. The services include small business banking solutions, commercial banking, and lending options tailored to meet the needs of various business entities. The bank emphasizes low to no fees and provides tools and resources to help businesses manage their finances effectively.

• Features: Digital business accounts, small business banking solutions, commercial banking and lending, treasury management, specialized lending options, Axos FundFinder+, Axos ONE, mobile app.
• Pricing: Up to 4.86% APY on savings, up to 0.51% APY on checking, no maintenance fees, $0 lender fee on home loans (limited time offer).
• Testimonials: Users generally appreciate the dedicated relationship managers and competitive rates. One user, DW, mentioned, "Great service and they really care about your business-I'd highly recommend!" However, not all feedback is positive. Alissa shared, "They set me up with an account after I added funds they locked the account. 2 years later I never got my money and they can’t give me information because it’s closed." For more detailed reviews, visit the Axos Bank Reviews page.

7. Brex

Brex is a financial technology company that offers a comprehensive suite of financial services including corporate credit cards, expense management, business banking, bill pay, accounting automation, and travel management. The platform is designed to help businesses control spending, automate financial tasks, and maximize their financial resources globally.

• Features: AI-powered automation for approvals, expense reports, invoice entry, and payments, high yield savings at 4.31%, services available in over 120 countries, real-time tracking and adjustments of budgets and expenses, comprehensive financial tools including corporate cards, expense management, bill pay, banking, and travel management, enhanced security with up to $6M in additional FDIC insurance, five-star mobile app, thousands of two-way ERP integrations.
• Pricing: Essentials Plan at $0 per user per month, Premium Plan at $12 per user per month, Enterprise Plan with custom pricing, Smart Card with custom pricing. Essentials includes global card acceptance, AI-powered custom rules, up to two entities, accounting integrations, local currency wires, travel booking, real-time reporting, Brex API access, bill pay, and reimbursements. Premium adds multiple customizable expense policies, dynamic expense review chains, AI-powered compliance audit detection, advanced approvals, multi-entity support, customizable ERP and HRIS integrations, VAT documentation, group travel, advanced travel rules, and live budgets. Enterprise includes all Premium features plus unlimited US or global entities, local card issuance, collections, reimbursements, policies, local language support, named account manager, admin center, and fully customizable implementation services.
• Testimonials: Users generally appreciate Brex for its ease of use and comprehensive financial management tools. One user, Andrew S., mentioned, "Brex makes expense reporting so simple. The text feature on your phone to record receipts makes it almost impossible to forget to record expenses." However, not all feedback is positive. Mike A. shared, "When typing in descriptions or other details on the app if you make a mistake and try to correct it the typing always goes to the end of the sentence, even if you started at the beginning. It is so weird." For more detailed reviews, visit the Brex Reviews page.

8. Anna Money

ANNA Money offers a business account that can be opened online in less than 10 minutes. The service includes a business debit card that makes a unique "miaow" sound and is designed to help manage financial admin tasks, making it a convenient option for startups.

• Features: Quick account setup, virtual business debit cards, payment link and webpage, cash top-ups, special partner offers, Apple Pay and Google Pay integration, expense management, money-saving pots, instant payment notifications, free direct debits and standing orders, business cashback credit card, small business loans, open banking.
• Pricing: The pricing plans start at £0 per month. Users only pay for the services they use. If the account is not used for a month, no monthly fee is charged for that month.
• Testimonials: Users generally appreciate ANNA Money for its excellent service and smooth app experience. One user, Usman, mentioned, "I’ve been with ANNA for nearly 4 years now, and have recently just opened another company with them. Since then they have provided nothing but an excellent service." However, not all feedback is positive. An anonymous user shared, "Avoid at all costs!!! ANNA have held on to a very large amount of company money for weeks, they are uncontactable or helpful." For more detailed reviews, visit the ANNA Money Reviews page.

9. Reap

Reap provides financial solutions to help businesses achieve global financial goals by offering essential financial infrastructure. Their products include corporate credit cards, payment solutions, and API solutions for card issuing and payouts, all designed to support businesses in a connected and borderless world.

• Features: Corporate credit card with flexible repayment options in both fiat and digital currencies, payment solution allowing payments in preferred currencies, card issuing API for launching card programs, advanced cross-border payouts, PCI compliance, licensed and regulated status, sophisticated fraud prevention tools, secure sandbox testing, robust API documentation, rapid deployment, dedicated support.
• Pricing: Physical & virtual card: FREE, annual fee: FREE, monthly bill repayment with fiat currency: FREE (late fee may apply), monthly bill repayment with stablecoins: 1.2% handling fee (late fee may apply), ATM withdrawal: 2%, FX fee: 2%, available card currencies: USD, HKD, collateral: 1:1 ratio, mobile payment (Apple Pay / Google Pay): FREE, mobile app: FREE, issue your branded card via API: Contact Sales, bank transfers with Reap Card: 1.8%, bank transfers with stablecoins: 0.8%, cross-border payment fee: 25 USD, local payment fee: 0-5 USD, FX fee: variable rate, T+1 day payouts: no extra fee, payments via API: Contact Sales, card-level spend controls: FREE, team-level spend controls: FREE, team members: unlimited, multi-entity management: FREE, real-time spend analytics: FREE, Xero integration: FREE, receipt collection: FREE, receipt auto-matching: FREE.
• Testimonials: Users generally appreciate Reap for its user-friendly onboarding experience and helpful team. One user, Dexter L., mentioned, "Reap had a very user-friendly onboarding experience. The team is friendly and helpful. The product (REAP card) is very easy to use and helps with our operations a lot." However, not all feedback is positive. Dexter L. also shared, "The only downside would be limitations in terms of setting categories. However, I discussed this with their product team and they are going to look into it. Very helpful!" For more detailed reviews, visit the Reap Card Reviews page.

10. Credem

Credem Banca offers a wide range of banking services, including current accounts, cards, loans, mortgages, and investment options. The bank emphasizes customer well-being, sustainability, and innovation.

• Features: Wellbanking People, Green Transition Support, Financial Wellbanker, comprehensive online services, customer-centric approach.
• Pricing: The provided HTML does not contain specific information about the pricing of Credem's products or services. The page focuses on contact information and customer support options. For detailed pricing information, customers would likely need to visit specific product pages or contact the bank directly through the provided methods.
• Testimonials: Users generally have mixed feelings about Credem. One user, Steve Smith, mentioned, "I have found both the products and service of the branch at Citadella Del Capo as nothing but very good. The whole approach is courteous and professional." However, another user, Dan Racioppa, shared, "I changed to this bank based on the recommendation of a family friend. My experience from the very beginning has been horrible... Complete waste of my time and taking long to complete a simple process." For more detailed reviews, visit the Credem Reviews page.

Which one should you go with?

In conclusion, while each of these financial platforms offers unique features and benefits tailored to different business needs, OneSafe stands out for its comprehensive services and exceptional customer support. Whether you're managing payroll, handling multi-currency transactions, or navigating the complexities of Web3, OneSafe provides a seamless and secure banking experience. Although any of these options could be a good fit depending on your specific requirements, we recommend OneSafe if you're looking for a reliable and innovative alternative to Novo. Explore what OneSafe has to offer and see how it can elevate your business finances.