Costs & Fees

Metric	Capital One Business Checking	Novo Business Checking
Monthly maintenance	Basic $15/mo; Enhanced $35/mo	$0 unconditional
Fee waiver	Basic: $2,000+ 30- or 90-day avg ledger balance (whichever greater), nonprofit classification, or up to 2 Basic accounts waived if Enhanced open. Enhanced: $25,000+ avg ledger balance.	N/A — already $0
Transaction fees	Unlimited fee-free digital transactions (mobile deposit, ACH, select bill pay). No per-item fee on checks, ACH, or debit purchases.	No excess-item fees on schedule. Operational limits on ACH, RDC, mailed checks, ATM, POS (raisable in-app).
Overdraft/NSF	$35 NSF/OD/Uncollected Funds when transaction would bring balance below $0. Free Overdraft Protection transfer from linked Cap One Business deposit account (does not eliminate $35 if uncovered).	$0 Insufficient Funds; $0 Uncollected Funds Returned. No overdraft protection product.
ATM fees	$0 at Cap One/MoneyPass/Allpoint. Out-of-network $2 + owner surcharge (no rebate).	Novo ATM fee $0. Third-party operator surcharge rebate max $7/customer/month. No branded free network disclosed.
Wire/ACH	Basic: incoming domestic $15, outgoing domestic $25, incoming intl $15, outgoing intl $40 FX / $50 USD. Enhanced: incoming domestic $0, first 5 outgoing domestic free then $25, incoming intl $15, outgoing intl $40/$50. Standard ACH $0.	Incoming domestic: $0. Outgoing domestic: up to $45 (online only, eligibility-gated). Incoming intl: $0 Novo-side. Outgoing intl: via Wise (Wise fees apply). Standard ACH in/out: $0.

Interest & Yields

Metric	Capital One Business Checking	Novo Business Checking
Checking APY	None — non-interest-bearing on both Basic and Enhanced	0% — non-interest-bearing (fee schedule Annual Percentage Yield 0%)
Savings APY	Business Savings marketed up to 3.50% APY (promotional; re-check rate page — not checking yield)	N/A — Reserves earn 0%; same deposit account
FDIC coverage	Standard FDIC $250,000 per depositor, per ownership category at Capital One, N.A.	FDIC pass-through at Middlesex Federal Savings, F.A. — $250,000 per depositor per ownership category

Features & Access

Metric	Capital One Business Checking	Novo Business Checking
Branch/ATM network	~260 branches (8 states + D.C.); 60+ Cafés; 70,000+ Cap One/MoneyPass/Allpoint ATMs	No branches. Any ATM for withdrawal only — $7/month rebate cap. No ATM cash deposit.
Mobile app	Google Play ~4.5/5 (~1.7M reviews); iOS ~4.8–4.9 cited (consumer-dominated app)	iOS ~4.8; Android ~4.5–4.6 (secondary 2026 aggregators)
Virtual cards	Digital debit + employee debit mentioned; granular spend controls unclear on Basic/Enhanced	Virtual debit included. Fine-grained merchant locks not documented.
Opening deposit	Not disclosed (commonly $0)	$0 ($1,000 recommended)
Eligibility	Legal U.S. resident 18+; U.S. street address (no P.O. box). Typical corp, LLC, partnership, sole prop structures.	U.S. sole prop (incl. DBA), LLC, corp, partnership, 501(c)(3). Trusts not offered. One checking login per EIN.

Pros & Cons

Capital One Business Checking

Pros

• Unlimited fee-free digital transactions on both tiers — ACH, mobile deposit, select bill pay
• 70,000+ fee-free withdrawal ATMs (Cap One/MoneyPass/Allpoint)
• Basic: Cap One/select Allpoint ATM cash deposits don't hit the $5k teller fee bucket
• Enhanced: $0 cash deposits (under $40k/mo), $0 inbound domestic wires, 5 free outbound domestic wires
• Enhanced can carry two Basic accounts at $0 monthly fee; nonprofit Basic waiver

Cons

• Checking pays 0.00% APY
• Branch footprint small (~260 branches) for a big-bank cash business
• Public fee PDF lists $35 NSF/OD — linked-account protection doesn't eliminate fee if uncovered
• No Zelle for Business, native invoicing, multi-currency, or published multi-user controls
• Enhanced not unlimited cash — conversion/closure language at $40k/month

Novo Business Checking

Pros

• $0 monthly, $0 minimum, $0 NSF/stop-pay/statement/card replace (Feb 2026 schedule)
• Free standard ACH both ways; $0 inbound domestic and foreign wires
• Invoices + up to 20 Reserves in one account
• Stripe/Shopify/Square/QuickBooks/Xero connectors (40+ integrations)
• Virtual + physical debit; $7/month ATM rebate; fast U.S. online open including nonprofits

Cons

• No cash deposits at all
• 0% APY; Reserves earn nothing
• Advertised FDIC $250,000 only — no marketed multi-million sweep
• Outbound wires up to $45 and eligibility-gated; FX via Wise only
• Weekday support; added users get full owner access; freeze/hold complaints recur

Verdict

Capital One Business Checking

Capital One Business Basic ($15/mo, waived at $2,000 avg ledger) and Enhanced ($35/mo, waived at $25,000) are non-interest checking at Capital One, N.A. with unlimited fee-free digital transactions — a structural advantage over item-metered big-bank accounts. Cash splits by tier: Basic gives $5k free teller cash then $1/$1k (ATM cash at Cap One/select Allpoint exempt); Enhanced is $0 cash but designed for under $40k/month. Wires: Basic $15 in/$25 out domestic; Enhanced free inbound and first 5 outbound domestic. Thin branch network but 70,000+ ATMs. Modest software (QuickBooks feed, no invoicing/Zelle). Use Basic for low-balance digital ops; Enhanced for higher balances, wire volume, and two extra Basics.

Novo Business Checking

Novo Business Checking is a single-tier online account from fintech Novo Platform Inc. with deposits at Middlesex Federal Savings, F.A. (FDIC Cert. 28368). Feb 26, 2026 fee schedule: $0 monthly, $0 NSF, $0 standard ACH, $0 inbound wires, 0% APY. Costs appear on Express ACH (1.5%), Express Check Deposit (up to 2%), outbound wires (up to $45 when enabled), and ATM surcharges above $7/month rebate. Up to 20 Reserves inside same 0% account. Strong ecommerce integrations. No cash, no branches, $250k FDIC advertised. Fits indie digital businesses; weak for cash, treasury, international founders, and teams needing permission controls.