We may earn a commission if you buy through links on this page. It never changes a score or a ranking. How we make money
It's a split decision.
Choose Wise Business if your business regularly sends money internationally or needs to receive in 40+ currencies; it has a $0 monthly subscription, but transfers start at 0.23%, and Advanced adds a $31 setup fee. Choose Novo for business checking, invoices, vendor payments, and cash-flow tools with no monthly maintenance fee. Novo's standard ACH is $0, but Express ACH costs 1.5% (minimum $0.50, maximum $20). Pick based on whether you need global money movement or checking and business tools.
01Side by side
| Wise Business | Novo | |
|---|---|---|
| Starting price | $0/month; transfers from 0.23% | $0/month maintenance fee |
| Free plan | $0 monthly; Advanced has a $31 setup fee | $0 monthly maintenance fee |
| Best for | International transfers and 40+ currency receipts | Independent businesses needing free checking |
| Core strength | Cross-border payments and multi-currency features | Checking, invoicing and cash-flow tools |
| Learning curve | Not published | Not published |
| Integrations/data | Accounting software connections | Accounting, payments, payroll; QuickBooks named |
| Team/seat costs | Team finance features; seat pricing not published | Seat pricing not published |
| Support | Review support score: 3 | Review support score: 5 |
Wise Business Choose Wise Business if
- Choose Wise Business if you send international business payments.
- Choose Wise Business if you need to receive in 40+ currencies.
- Choose Wise Business if you want multi-currency card and team-finance features.
Novo Choose Novo if
- Choose Novo if you want business checking with no monthly maintenance fee.
- Choose Novo if you need invoicing and vendor-payment tools.
- Choose Novo if you want accounting, payments and payroll connections.
02Pricing compared
Both products have a $0 monthly fee, but the costs beyond that differ. Wise Business lists Essential and Advanced at $0 per month. Sending and converting money starts at 0.23%; Advanced also has a $31 one-time setup fee. Wise lists ATM withdrawals over $250 per calendar month at $1.95 plus 1.95%. Annual pricing is not published.
Novo Business Checking has no monthly maintenance fee or minimum balance requirement, and standard ACH transfers cost $0. Express ACH costs 1.5% per transfer, with a $0.50 minimum and $20 maximum. Novo reimburses up to $7 per month in ATM fees. Third-party wire fees are shown before a transaction, but the amounts are not published. Invoicing, bookkeeping and reserve accounts are listed at $0. Compare transaction fees and payment needs, not just the monthly price.
03Features and depth
Wise is built around international money movement. Its business account supports sending payments and receiving money in 40+ currencies, plus a multi-currency card, team-finance management and accounting software connections. The pricing details list batch payments of up to 1,000 international payments on both Essential and Advanced. The homepage also lists receiving interest, but the published details do not specify eligibility or rates.
Novo centers on business checking and day-to-day business tools. It offers invoicing, payment acceptance, vendor and bill payments, expense tracking, cash-flow views, and connections to accounting, payments and payroll tools. QuickBooks integration is mentioned on its homepage. Novo lists standard ACH transfers at $0, while Express ACH is paid. Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC.
The practical split is clear: Wise covers multi-currency receipts and international transfers; Novo combines checking with invoicing and business-finance tools. The published details do not establish that either replaces every tool in the other’s list.
04Ease of use and learning curve
The available product details describe what each account does, but do not publish onboarding steps, setup times or enough workflow detail to compare learning curves. We would not treat either as proven easier to use on that basis.
Our review scores give Wise 6/10 for ease of use and Novo 6.5/10. Those scores point to a slight edge for Novo, not a decisive difference. Wise’s review also flags account-access reports as a serious caveat, while Novo’s review notes Express ACH charges and the $7 monthly ATM reimbursement cap. Those are issues to weigh alongside usability, rather than evidence that either interface is simpler.
Questions people ask
Which is better for international business payments, Wise or Novo?
Wise is the more directly supported choice for international money movement: its business account sends payments and receives money in 40+ currencies, and batch payments can cover up to 1,000 international payments. Novo’s published details focus on checking and business tools, not multi-currency receiving. Wise transfers and conversions start at 0.23%.
Does Wise Business or Novo have a monthly fee?
The listed monthly subscription for both Wise Business plans, Essential and Advanced, is $0. Advanced has a $31 one-time setup fee, and Wise transfer or conversion charges start at 0.23%. Novo Business Checking has a $0 monthly maintenance fee and no minimum balance requirement. Annual pricing is not published for either.
Are ACH transfers free with Novo?
Novo lists standard ACH transfers at $0. Express ACH is not free: it costs 1.5% per transfer, with a $0.50 minimum and a $20 maximum fee. The published details do not list a fee for every possible ACH scenario, so check Novo’s terms for the transaction you plan to make.
Can Novo receive money in multiple currencies like Wise?
Wise’s product details explicitly say businesses can receive money in 40+ currencies. The published Novo details describe business checking, invoicing, payments and connected tools, but do not publish support for receiving funds in multiple currencies. If multi-currency receiving is essential, confirm Novo’s current capabilities before switching.