Novo vs Truist Simple Business Checking: which one fits your business?
Side-by-side comparison of Novo and Truist Simple Business 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 7/10).
| Scored on | Novo | Truist Simple Business Checking |
|---|---|---|
| Right fit for small biz | 7 | 8 |
| Ease of use | 8 | 7 |
| Fees & pricing | 9 | 8 |
| Customer support | 5 | 6 |
| Features | 7 | 6 |
| Monthly Fee | $0 | — |
| Minimum Deposit | $0 | — |
| ATM Fee Refunds | Unlimited | — |
| Domestic Wires | Free (Incoming) | — |
| Monthly Maintenance Fee | — | $0 |
| Transaction Limit | — | 50 per month |
| Excess Transaction Fee | — | $0.50 per item |
| Cash Deposit Limit | — | $2,000/mo free |
| Overdraft Fee | — | $36 |
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.
Truist Simple Business Checking in one paragraph
A solid, no-frills entry point for low-volume local businesses that value physical branch access over high-tech features.
Skip it if: Skip it if you process more than 50 transactions a month or need your idle cash to earn a competitive interest rate.
Frequently asked questions
Which is better, Novo or Truist Simple Business Checking?
On our five-axis scorecard, Novo scores higher (7.4/10 vs 7/10). Novo is a top-tier choice for digital entrepreneurs who want to eliminate fees, provided they don't need to deposit physical cash.
Who should skip Novo?
Skip it if your business handles more than $500 in physical cash per month.
Who should skip Truist Simple Business Checking?
Skip it if you process more than 50 transactions a month or need your idle cash to earn a competitive interest rate.