Grasshopper Bank vs Novo: which one fits your business?
Side-by-side comparison of Grasshopper Bank and Novo — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Grasshopper Bank wins on our scorecard (7.8/10 vs 7.4/10).
| Scored on | Grasshopper Bank | Novo |
|---|---|---|
| Right fit for small biz | 7 | 7 |
| Ease of use | 8 | 8 |
| Fees & pricing | 9 | 9 |
| Customer support | 6 | 5 |
| Features | 8 | 7 |
| Monthly Maintenance Fee | $0 | — |
| Minimum Opening Deposit | $0 | — |
| Domestic Outgoing Wire | $25 | — |
| ACH Transfers | $0 | — |
| Debit Card Cash Back | 1% (Terms apply) | — |
| Monthly Fee | — | $0 |
| Minimum Deposit | — | $0 |
| ATM Fee Refunds | — | Unlimited |
| Domestic Wires | — | Free (Incoming) |
Grasshopper Bank in one paragraph
A top-tier choice for digital businesses that want to earn 1% cash back on daily spending without the hassle of a credit card application.
Skip it if: You regularly need to deposit physical cash or require 24/7 phone support for your banking.
Novo in one paragraph
Novo is a top-tier choice for digital entrepreneurs who want to eliminate fees, provided they don't need to deposit physical cash.
Skip it if: Skip it if your business handles more than $500 in physical cash per month.
Frequently asked questions
Which is better, Grasshopper Bank or Novo?
On our five-axis scorecard, Grasshopper Bank scores higher (7.8/10 vs 7.4/10). A top-tier choice for digital businesses that want to earn 1% cash back on daily spending without the hassle of a credit card application.
Who should skip Grasshopper Bank?
You regularly need to deposit physical cash or require 24/7 phone support for your banking.
Who should skip Novo?
Skip it if your business handles more than $500 in physical cash per month.