Costs & Fees

Metric	Chase Business Complete Banking	Novo Business Checking
Monthly maintenance	$15 per statement period	$0 unconditional
Fee waiver	$0 if any one of: (1) $2,000 min daily ending balance each business day (excl. last business day); (2) $2,000 eligible QuickAccept/Payment Solutions deposits; (3) $2,000 eligible Ink/Sapphire Reserve for Business purchases in prior card cycle; (4) linked Chase Private Client/JPM Classic/PC Plus personal checking; (5) Chase Military Banking. First two monthly fees waived for new/converted accounts.	N/A — already $0
Transaction fees	20 free teller deposits/withdrawals + paper checks per cycle; $0.50 each thereafter. ACH, wires, ATM, QuickDeposit, debit purchases, internal transfers: no per-item checking fee.	No excess-item fees on schedule. Operational limits on ACH, RDC, mailed checks, ATM, POS (raisable in-app).
Overdraft/NSF	$34 per paid overdraft item over $50 (max 6/day, $204). Overdraft Assist: no fee if EOD overdraft ≤ $50 or restored to ≤ $50 by 11 p.m. ET next business day. No fee on items ≤ $5.	$0 Insufficient Funds; $0 Uncollected Funds Returned. No overdraft protection product.
ATM fees	Chase ATM: $0. Non-Chase U.S./territories: $3. Non-Chase outside: $5. Network surcharge not rebated.	Novo ATM fee $0. Third-party operator surcharge rebate max $7/customer/month. No branded free network disclosed.
Wire/ACH	Incoming domestic wire: $15 ($0 if Chase-originated). Outgoing domestic: $25 online / $35 branch. Incoming intl: $15 ($0 if Chase-originated). Outgoing intl: $40 online USD / $5–$0 online FX / $50 branch (+ FX spread). Standard ACH: no charge. Same-day ACH/RTP: 1% or $25 max.	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	Chase Business Complete Banking	Novo Business Checking
Checking APY	None (does not earn interest)	0% — non-interest-bearing (fee schedule Annual Percentage Yield 0%)
Savings APY	Linked Business Total Savings: 0.01% APY (rate sheet 2026-09-02); monthly fee waived when linked	N/A — Reserves earn 0%; same deposit account
FDIC coverage	Standard FDIC $250,000 per depositor, per ownership category at JPMorgan Chase Bank, N.A.	FDIC pass-through at Middlesex Federal Savings, F.A. — $250,000 per depositor per ownership category

Features & Access

Metric	Chase Business Complete Banking	Novo Business Checking
Branch/ATM network	~5,000 branches (not AK/HI); 14,000+ Chase ATMs	No branches. Any ATM for withdrawal only — $7/month rebate cap. No ATM cash deposit.
Mobile app	Chase Mobile ~4.8/5 iOS (~9.4M ratings) and ~4.8/5 Android (~2.1M ratings) as of Sept 2026	iOS ~4.8; Android ~4.5–4.6 (secondary 2026 aggregators)
Virtual cards	Associate debit cards with spend limits; issuer-style virtual cards not disclosed	Virtual debit included. Fine-grained merchant locks not documented.
Opening deposit	$0	$0 ($1,000 recommended)
Eligibility	Online: sole prop (one owner), single-member/manager LLC, single-officer private S/C-corp. Branch required: multi-member LLC, partnerships, nonprofits, corps owned by another business.	U.S. sole prop (incl. DBA), LLC, corp, partnership, 501(c)(3). Trusts not offered. One checking login per EIN.

Pros & Cons

Chase Business Complete Banking

Pros

• Five documented $15-fee waiver paths plus first two months free for new accounts
• Unlimited no-fee cash deposits at 14,000+ Chase ATMs; ~5,000 branches
• Electronic items, debit purchases, QuickDeposit, and transfers don't count toward 20-item teller/check limit
• Built-in invoicing (Complete-only) and QuickAccept card acceptance with same-day funding, no monthly POS fee
• Linked Business Total Savings monthly fee waived; Overdraft Assist reduces $34 overdraft fees

Cons

• Checking pays no interest; linked Total Savings only 0.01% APY
• Branch/night-drop cash above $5,000 costs 0.30%; only 20 free teller/paper items then $0.50 each
• Wires costly — $15 in, $25–$35 domestic out, $40–$50 international plus FX spread
• No treasury sweeps or lockbox; multi-owner entities cannot open fully online
• Recurring third-party complaints about freezes, closures, and held merchant funds

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

Chase Business Complete Banking

Chase Business Complete Banking is JPMorgan Chase's entry small-business checking — a non-interest flat-fee account at $15/month (waivable five ways). Strengths are the branch/ATM network, unlimited Chase ATM cash deposits, included invoicing and QuickAccept, and electronic activity that doesn't meter against the 20 teller/check allowance. Weaknesses are zero checking APY, 0.30% branch cash fees above $5,000, expensive wires, and no treasury features. Best for businesses already in or entering the Chase ecosystem who can meet waiver thresholds; poor for high-yield treasury or wire-heavy operations.

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.