Novo Business Checking
No monthly fee + invoicing/integrations; online-only; no cash deposits; 0% APY
Brex Business Account
Startup / mid-market treasury + multi-user spend platform; $0 banking fees; no cash/ATM
Costs & Fees
| Metric | Novo Business Checking | Brex Business Account |
|---|---|---|
| Monthly maintenance | $0 unconditional | $0 banking. Software: Essentials $0/user; Premium $12/user; Enterprise custom. |
| Fee waiver | N/A — already $0 | N/A — banking already $0; software is plan-priced |
| Transaction fees | No excess-item fees on schedule. Operational limits on ACH, RDC, mailed checks, ATM, POS (raisable in-app). | No published per-item or excess-item fees. Effectively unlimited electronic items at $0. |
| Overdraft/NSF | $0 Insufficient Funds; $0 Uncollected Funds Returned. No overdraft protection product. | Overdrafts not permitted. Dollar fee amounts not disclosed. Negative 30+ days → closure per Column DDA. |
| ATM fees | Novo ATM fee $0. Third-party operator surcharge rebate max $7/customer/month. No branded free network disclosed. | Not offered — no ATM network. No cash withdrawal from account or Brex cards. |
| Wire/ACH | 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. | Incoming/outgoing domestic and international wires $0 Brex-issued. ACH domestic and international $0. Intermediary/recipient fees possible. Customer reimburses intermediary costs per Column DDA. |
Interest & Yields
| Metric | Novo Business Checking | Brex Business Account |
|---|---|---|
| Checking APY | 0% — non-interest-bearing (fee schedule Annual Percentage Yield 0%) | None — uninvested Checking cash earns no yield |
| Savings APY | N/A — Reserves earn 0%; same deposit account | |
| FDIC coverage | FDIC pass-through at Middlesex Federal Savings, F.A. — $250,000 per depositor per ownership category | Checking: $250,000 at Column N.A. per ownership category (all sub-accounts share cap) |
Features & Access
| Metric | Novo Business Checking | Brex Business Account |
|---|---|---|
| Branch/ATM network | No branches. Any ATM for withdrawal only — $7/month rebate cap. No ATM cash deposit. | None. No branches, ATMs, or cash rails. |
| Mobile app | iOS ~4.8; Android ~4.5–4.6 (secondary 2026 aggregators) | Google Play 4.6 (~2.16k–2.18k reviews). iOS U.S. rating should be re-checked live. |
| Virtual cards | Virtual debit included. Fine-grained merchant locks not documented. | Included — charge card product with spend limits and policies (Premium: multiple customizable policies) |
| Opening deposit | $0 ($1,000 recommended) | $0 |
| Eligibility | U.S. sole prop (incl. DBA), LLC, corp, partnership, 501(c)(3). Trusts not offered. One checking login per EIN. | U.S.-organized C-corp, S-corp, LLC, LLP only. Not sole props, consumers, unincorporated partnerships, or foreign-registered entities. Nonprofits case-by-case. |
Pros & Cons
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
Brex Business Account
Pros
- $0 opening, maintenance, ACH, check, and wire fees (Brex-issued)
- Three-bucket design: Column DDA + up to $6M Vault sweep + DGVXX Treasury (3.71% as of 09/01/26)
- 512 sub-checking accounts with distinct account/routing numbers
- Same-day outbound ACH at $0; 3:15 p.m. ET cutoff documented
- Tight coupling to expense, bill-pay, virtual charge cards, and API
Cons
- No cash, no ATM, no branches
- Checking and Vault earn 0%; Treasury yield is MMF/SIPC, not FDIC checking APY
- Eligibility excludes sole props and foreign entities; scale screen plus abrupt closure history
- Checking FDIC only $250k across all sub-accounts; $6M is sweep-only with caveats
- Card FX up to 3%; Premium software $12/user; wire FX markup not published
Verdict
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.
Brex Business Account
Brex business account is a three-bucket cash-management stack at Column N.A. (FDIC #58224, routing 121145349). Checking 0% APY with $250k FDIC shared across 512 sub-accounts. Vault sweeps to program banks for up to $6M FDIC (0% yield). Treasury in DGVXX via Brex Treasury LLC — up to 3.71% 7-day yield as of 09/01/26, not FDIC. Banking fees $0 on ACH/wires/checks. No cash/ATM/branches. Corp/LLC/LLP only; scale underwriting. Premium $12/user. Capital One acquired Brex Apr 2026. Closure risk is operational concern — keep backup bank. $1,000 card promo through Sep 30, 2026.