Novo vs Tailored Checking: which one fits your business?
Side-by-side comparison of Novo and Tailored Checking — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Novo wins on our scorecard (7.4/10 vs 7.3/10).
| Scored on | Novo | Tailored Checking |
|---|---|---|
| Right fit for small biz | 7 | 8 |
| Ease of use | 8 | 7 |
| Fees & pricing | 9 | 7 |
| Customer support | 5 | 6 |
| Features | 7 | 8 |
| Monthly Maintenance Fee | $0 | $10 (waived with $5k balance) |
| Minimum Opening Deposit | $0 | $100 |
| Domestic Incoming Wires | $0 | $0 |
| ATM Fee Reimbursements | Unlimited | — |
| Non-Sufficient Funds Fee | $0 | — |
| Domestic Outgoing Wires | — | $18 |
| ATM Fees | — | $0 + worldwide rebates |
Novo in one paragraph
Novo is the premier 'starter' fintech for solo digital entrepreneurs who want to automate their cash flow and avoid the fee-heavy structures of legacy banks.
Skip it if: You handle physical cash daily or require outgoing domestic wire transfers for high-value vendor payments.
Tailored Checking in one paragraph
A solid, rewards-focused account for established businesses that maintain a $5,000 buffer and want the security of a chartered bank.
Skip it if: You cannot consistently maintain a $5,000 average daily balance or if you primarily deposit physical cash.
Frequently asked questions
Which is better, Novo or Tailored Checking?
On our five-axis scorecard, Novo scores higher (7.4/10 vs 7.3/10). Novo is the premier 'starter' fintech for solo digital entrepreneurs who want to automate their cash flow and avoid the fee-heavy structures of legacy banks.
Who should skip Novo?
You handle physical cash daily or require outgoing domestic wire transfers for high-value vendor payments.
Who should skip Tailored Checking?
You cannot consistently maintain a $5,000 average daily balance or if you primarily deposit physical cash.