Novo vs Axos Bank

Novo is a fee-free online business checking with lots of good features. How does it compare to Axos Bank? Read our comparison chart below.

Novo offers all-in-one banking for digital businesses. It includes up to 20 Reserves, free unlimited invoicing, and over a thousand business app integrations. But there's no cash deposits. There is no monthly fee.

While Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.

Compare Novo with Axos Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Novo	Axos Bank
		Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER Free Business Checking - Learn More Read Novo Review	SPECIAL OFFER Basic Business Checking - Learn More Read Axos Bank Review
	Benefits and Features
Savings	No savings account, but you add up to 20 Reserves	0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)
CD		0.20% APY. Terms of 3 months to 5 years. $1,000 minimum
Checking	No monthly fees; no balance requirements	Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback
Monthly Fee	$0
Money Market		0.25% APY
APY	N/A
Minimum Deposit to Open	$50 to access all Novo's features
Mobile App		iOS & Android
ACH Transfer Fee	$0
ATMs	up to $7 per month reimbursement of ATM fees worldwide	approximately 91,000 partner ATMs
Balance Requirement	None
Cash Deposit Fee	N/A
Customer Service	Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST	24/7
Incoming Wire Transfer Fee	$0
Locations	Online only	Online only
Out of Network ATM Fee	up to $7 per month ATM fee reimbursement
Outgoing Wire Transfer Fee	N/A
Overdraft Fee	$0
	CreditDonkey® Reviews

Savings
Checking
Mobile App
Customer Service
CD
ATMs
Locations
Pros & Cons	Pros: No monthly fees ATM refunds up to $7 per month Lots of software integrations Cons: No cash deposits No interest-bearing accounts	Pros: Checking with rewards No monthly fee Domestic ATM rebates Cons: Low CD rates No physical branches
Bottom Line	Fee-free online business checking with lots of good features... Read full review	Full-service online bank with excellent checking and savings... Read full review
	Visit Site	Learn More
	Free Business Checking	Basic Business Checking Business Premium Savings - Up to 3.60% APY Axos ONE - Earn up to 4.21% APY
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Novo: Pricing information from published website as of 05/07/2026. Axos Bank: Pricing information from published website as of 05/12/2026.

Which is Better: Novo or Axos Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Novo or Bluevine.

In short: Axos Bank's savings and checking are notable. In particular, the checking is excellent.