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Mercury vs. NOVO Comparison

Compare providers side-by-side, allowing for easy comparison of features, rates, and terms. The comparison tool encourages individuals to thoroughly review all aspects of each service before making a smart financial decision.

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Online Banking

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Online Banking

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Good For
Fee-free business banking accounts
Good For
Smart Choice For Business Checking
Account types
  • Savings
  • Business Checking
  • Business Savings
Account types
Pros
  • Up to $5 million in FDIC insurance
  • No transaction overdraft or monthly fees
  • No minimum opening deposit
  • Free wire transfers
  • Free domestic and international wires in USD
Pros
  • No hidden fees, minimum balance requirements and unlimited ATM refunds
  • Integrations with top tools like Quickbooks, Stripe, Square, Shopify and more
  • Automated budgeting with Novo reserves
Cons
  • cons Not available to sole proprietorships
  • cons Can't accept cash deposits
Cons
  • cons No physical branches, if needed
  • cons Cumbersome to make a cash deposit
  • cons No interest paid on checking account balance
ATM Network
55,000+ fee-free Allpoint ATMs
ATM Network
Unlimited
Overdraft fees
0
Overdraft fees
$27
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