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 stands out with its no hidden fees, no minimum balance requirements, and 100% online accessibility, making it a popular choice for managing business finances efficiently.

Reviews

Users have shared a mix of positive and negative feedback about Novo. Many appreciate the platform's no hidden fees, no minimum balance requirements, and seamless online banking experience. Customers find the AI-powered bookkeeping and automated budgeting tools particularly helpful for managing their finances. However, some users have expressed frustration with the limited ATM fee reimbursements and occasional delays in customer support responses. Overall, while Novo's features are well-received, there are areas where users feel improvements could be made.

• "Novo's no-fee structure and easy-to-use interface have made managing my business finances a breeze." - John D.
• "Customer support can be slow at times, which is frustrating when you need quick assistance." - 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 for startups and businesses operating in both fiat and cryptocurrencies. It provides services like global payments, corporate cards, and seamless integration of traditional and Web3 financial operations.

• Simple onboarding, global payments, corporate cards, multi-currency support, global accounts, seamless payments, state-of-the-art security, crypto to fiat conversions.
• Account opening: Free, minimum balance: $0, monthly fees: None, corporate cards: Included, invoices: Included, US domestic payments: 0.1% fee, Sepa payments: 0.2% fee, international wires: 0.2% fee + $25 Swift, Fedwire: $20, FX fee on corporate cards: 1%, USDT transactions: 0.1% fee, fiat to crypto conversion: Included.
• Users rave about OneSafe's exceptional customer support and its ability to simplify complex financial tasks. Testimonials highlight its game-changing impact on businesses, especially in the Web3 space. For more details, visit the OneSafe website.

2. Wallester

Wallester offers virtual and physical expense cards designed for businesses to streamline financial management and control corporate spending. Their platform provides real-time card issuing, expense control services, and detailed reporting, making it an all-in-one solution for managing corporate expenses. The service is free of setup and monthly fees, and it supports instant card issuance and integration with various business workflows through a robust API.

• Features: No setup or monthly fees, instant card issuance, real-time transaction monitoring, comprehensive API for custom workflows, award-winning platform, multi-currency support, real-time notifications, invoicing, budget management, detailed reporting.
• 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 appreciate Wallester's efficient service and robust features. One user praised it as the "absolute number one for business card and global payroll system" with "super fast assistance" and excellent card design. However, another user criticized the company, calling them "scammers with terrible support" and alleging account suspension and money holding issues. For more detailed reviews, visit the Wallester Reviews page.

3. Tide Bank

Tide offers a free business current account that can be opened in minutes. The account includes features such as simple payment solutions, built-in accounting, and a dedicated savings account with 4.07% AER variable interest. The service is designed to help business owners run their businesses more efficiently with no monthly fees and low transaction costs.

• Features: No monthly fees, personalized invoicing, business savings with 4.07% AER variable interest, simple accounting integration, 24/7 account monitoring, 24/7 support, payment links, auto-categorization, direct debit management, Apple/Google Pay setup, international payments, CSV exports.
• Pricing: Tide offers a free business current account with no monthly fees. Users only pay for what they use, with low transaction and ATM fees. Additional plans such as Plus, Pro, and Cashback are available, each with varying features and costs.
• Testimonials: Users generally appreciate the ease of setting up accounts and the helpfulness of customer service representatives. One user noted, "A super fast track way of starting a business account in one day." However, another user expressed frustration, stating, "Terrible experience. Paused our account without warning, and now they are withholding our money." For more detailed reviews, visit the Trustpilot page.

4. Kontist

Kontist offers a business banking solution specifically designed for self-employed individuals in Germany. The service includes a mobile and web banking app, automated bookkeeping, and business tax return functionalities. Kontist aims to simplify financial management for freelancers by integrating banking, bookkeeping, and tax services into a single app.

• Unique Features: All-in-One App, Automatic Tax Calculation, AI-Supported Bookkeeping, Real-Time Bank Transfers, Mobile & Web Access, Visa Business Debit Card, Apple Pay & Google Pay, Invoicing Tool, Easy Receipt Management, Advance VAT Returns, Tax Return Preparation, Premium Account Features.
• Pricing: Kontist offers three plans:
  • Free Plan: €0/month plus VAT, includes a free virtual Visa Debit card, mobile & web banking app, 10 free transactions per month, and the ability to create 2 invoices per month. Note: A fee of €2 per month applies for transactions below €300.
  • Premium Plan: €9/month plus VAT, includes all Free plan features plus a physical Visa Debit card, automatic calculation of income tax & VAT, MT940 Datev export, unlimited invoices per month, and integration with external bookkeeping tools.
  • Bookkeeping Plan: €29/month plus VAT, includes all Premium plan features plus unlimited free transactions, advance VAT return, business evaluation, manually add external transactions, unlimited categorization of transactions with AI, and business assets handling.
• Testimonials: Users generally appreciate Kontist's ease of use and comprehensive features. One user, Luis, mentioned, "After over 2 years of service, Kontist has constantly provided the best support." However, another user, Tanya, criticized the service, stating, "The tax service is extremely overpriced and totally not recommended!" For more detailed reviews, visit the Trustpilot page.

5. Wise

Wise offers an international account that allows users to send, receive, and manage money in multiple currencies with low fees and guaranteed exchange rates. The service is designed for individuals and businesses, providing features like a multi-currency account, international debit card, and the ability to earn returns on balances.

• Unique Features: Hold and convert money in over 40 currencies, save up to 5x on international transfers compared to traditional banks, lock in exchange rates for a specified period, spend and withdraw cash worldwide without foreign transaction fees, earn a variable rate return on GBP balances, regulated by the Financial Conduct Authority (FCA), includes 2-factor authentication and holding money with established financial institutions, high Trustpilot score and positive customer reviews.
• Pricing: Registering with Wise is free. Sending money incurs a fee that varies by currency, starting from 0.29%. Holding money in your account is free for over 40 currencies. Receiving money is free for getting account details in 23 currencies and for receiving local payments in specific currencies. However, receiving USD wire and Swift payments costs $6.11 USD per payment, and receiving CAD Swift payments costs 10 CAD per payment. Receiving Swift payments in 21 currencies is free, though correspondent banks may charge fees.
• Testimonials: Users generally appreciate Wise's ability to handle multiple currencies and its ease of use abroad. One user, 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, another user criticized the customer support, stating, "Customer Support is the worst among all the products that I used, they're just incompetent." For more detailed reviews, visit the G2 page.

6. Axos Bank

Axos Bank offers digital business accounts designed to provide security, ease, and efficiency with minimal fees. Their services cater to both small businesses and commercial entities, offering tailored solutions such as checking accounts, commercial lending, and treasury management.

• Unique Features: Digital business accounts, comprehensive commercial solutions, specialized banking services, Axos FundFinder+, Axos ONE, mobile app, $0 lender fee on home loans.
• Pricing: Axos ONE account bundle offers up to 4.86% APY on savings and up to 0.51% APY on checking with no maintenance fees. Home loans come with a $0 lender fee for a limited time.
• Testimonials: Users generally appreciate the great service and small business products, with one user highlighting the dedicated relationship manager and free checking account. However, another user criticized the bank for locking their account and not returning their funds. For more detailed reviews, visit the Trustpilot page.

7. Brex

Brex is a financial technology company offering a comprehensive suite of financial services including corporate credit cards, expense management, business banking, bill pay, and travel management. Their platform is designed to help businesses control spend, automate financial processes, and maximize their financial resources using AI-powered tools.

• Unique Features: AI-powered automation, global reach in over 120 countries, high yield on business accounts, fast global payments, high credit limits, real-time tracking and controls, integrated financial services, compliance and security.
• Pricing: Essentials Plan: $0 per user per month, Premium Plan: $12 per user per month, Enterprise Plan: Custom pricing, Smart Card: Custom pricing.
• Testimonials: Users generally appreciate Brex's ease of use and comprehensive features. One user 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, another user expressed frustration, stating, "Honestly, I don't love the travel assistant booking software. It's OK, but a salesforce can easily rack up $20 fees if they don't book travel correctly. I think it could use some work." For more detailed reviews, visit the G2 page.

8. Anna Money

ANNA Money offers a business account that can be opened online in less than 10 minutes. It includes a business debit card that makes a sound when used. The service is designed for freelancers, small businesses, and creative professionals, providing tools to manage financial admin efficiently.

• Unique Features: Speedy account setup, virtual business debit cards, payment link and webpage, cash top-up, 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: ANNA Money's plans start at £0 per month, and users only pay for the services they use. If the account is not used for a month, no monthly fee is charged.
• Testimonials: The general user sentiment towards ANNA Money is predominantly positive, with many users praising the app's ease of use, efficient customer service, and helpful features for business management. However, there are a few negative reviews highlighting issues with account freezes and high fees. One positive comment: "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, ensuring payments are received and handling any issues I have 24/7." One negative comment: "Avoid at all costs!!! ANNA have held on to a very large amount of company money for weeks, they are uncontactable or helpful. We have now had to escalate to legal, FCA, PayrNet and the Financial Ombudsman." For more detailed reviews, visit the Trustpilot page.

9. Reap

Reap offers financial solutions to help businesses achieve global financial goals by providing essential financial infrastructure. Their products and services enable businesses to thrive in a connected and borderless world.

• Unique Features: Reap Card with flexible bill repayment options in fiat or digital currencies, Reap Pay for payments in preferred currencies, Card Issuing API for launching card programs, Payment API for cross-border payouts, PCI compliance, licensed and regulated in Hong Kong, sophisticated fraud prevention tools, secure sandbox testing, robust API documentation, rapid deployment, dedicated support.
• Pricing: Reap Card: Free physical and virtual cards, free annual fee, free monthly bill repayment with fiat currency, 1.2% handling fee for stablecoins, 2% ATM withdrawal fee, 2% FX fee. Global Payouts: 1.8% fee for bank transfers with Reap Card, 0.8% for stablecoins, $25 cross-border payment fee, $0-5 local payment fee, variable FX fee, no extra fee for T+1 day payouts.
• Testimonials: Users generally appreciate Reap's user-friendly onboarding and helpful team. One positive comment: "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." One negative comment: "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 G2 page.

10. Credem

Credem Banca offers a comprehensive range of financial products and services, including current accounts, credit and debit cards, loans, mortgages, and investment options. The bank emphasizes customer well-being, sustainability, and innovation.

• Unique Features: Wellbanking People, Sustainability Initiatives, Financial Education, Comprehensive Support, Business Solutions.
• Pricing: The provided HTML does not contain specific pricing details for Credem's products or services. The page focuses on contact information and customer support options rather than detailed pricing information. For pricing details, users are likely directed to specific product pages or encouraged to contact the bank directly through the provided contact methods.
• Testimonials: Users generally have mixed feelings about Credem. One positive comment: "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." - Steve Smith. One negative comment: "Credem is one out of the many banks in Italy that discriminates against international students... This was the height of racism." - joseph nkoro. For more detailed reviews, visit the Trustpilot 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 fiat or cryptocurrencies, OneSafe's seamless integration and state-of-the-art security make it a reliable choice. While alternatives like Wallester, Tide, and Kontist also provide valuable solutions, OneSafe's ability to simplify complex financial tasks and its game-changing impact on businesses, especially in the Web3 space, make it a standout option. If you're seeking a robust and versatile financial platform, we highly recommend giving OneSafe a try.