Novo vs Wise Business: which one fits your business?
Side-by-side comparison of Novo and Wise Business — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Wise Business wins on our scorecard (7.8/10 vs 7.4/10).
| Scored on | Novo | Wise Business |
|---|---|---|
| Right fit for small biz | 7 | 8 |
| Ease of use | 8 | 7 |
| Fees & pricing | 9 | 9 |
| Customer support | 5 | 6 |
| Features | 7 | 8 |
| Monthly Fee | $0 | $0 |
| Minimum Deposit | $0 | — |
| ATM Fee Refunds | Unlimited | — |
| Domestic Wires | Free (Incoming) | — |
| Account Opening | — | $31 |
| Currency Conversion | — | From 0.43% |
| Receive USD Wires | — | $4.14 |
| Send USD Wires | — | $6.11 |
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.
Wise Business in one paragraph
The most cost-effective way for global-facing small businesses to move money across borders without the typical 3% bank markup.
Skip it if: You only do business within the U.S. and need to deposit physical cash at a branch.
Frequently asked questions
Which is better, Novo or Wise Business?
On our five-axis scorecard, Wise Business scores higher (7.8/10 vs 7.4/10). The most cost-effective way for global-facing small businesses to move money across borders without the typical 3% bank markup.
Who should skip Novo?
Skip it if your business handles more than $500 in physical cash per month.
Who should skip Wise Business?
You only do business within the U.S. and need to deposit physical cash at a branch.