Axos Basic Business Checking vs Novo: which one fits your business?
Side-by-side comparison of Axos Basic Business Checking and Novo — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Novo wins on our scorecard (7.9/10 vs 7.5/10).
| Scored on | Axos Basic Business Checking | Novo |
|---|---|---|
| Right fit for small biz | 8 | 7 |
| Ease of use | 7 | 9 |
| Fees & pricing | 9 | 9 |
| Customer support | 6 | 5 |
| Features | 7 | 8 |
| Monthly Maintenance Fee | $0 | $0 |
| Minimum Opening Deposit | $0 | $0 |
| Transaction Limit (Free) | 200 per month | — |
| Per-item fee over limit | $0.30 | — |
| Domestic Outgoing Wire | $35 | — |
| ATM Fee Reimbursements | — | Unlimited |
| Incoming Wires (Domestic/Intl) | — | $0 |
| Insufficient Funds Fee | — | $27 |
Axos Basic Business Checking in one paragraph
Axos Basic Business Checking is the best 'real' bank for solo-preneurs and small service businesses that want $0 fees without the instability of a middleman fintech.
Skip it if: Skip it if you handle more than $2,000 in physical cash monthly or exceed 200 transactions per month.
Novo in one paragraph
Novo is the premier 'administrative' bank for solo digital entrepreneurs who want to automate invoicing and kill monthly fees, provided they don't need to deposit physical cash.
Skip it if: You run a cash-heavy retail business or need to earn high-yield interest on your primary operating capital.
Frequently asked questions
Which is better, Axos Basic Business Checking or Novo?
On our five-axis scorecard, Novo scores higher (7.9/10 vs 7.5/10). Novo is the premier 'administrative' bank for solo digital entrepreneurs who want to automate invoicing and kill monthly fees, provided they don't need to deposit physical cash.
Who should skip Axos Basic Business Checking?
Skip it if you handle more than $2,000 in physical cash monthly or exceed 200 transactions per month.
Who should skip Novo?
You run a cash-heavy retail business or need to earn high-yield interest on your primary operating capital.