Holdings vs Novo
Novo is a great bank. Holdings is the platform that replaces your bank, your accounting software, and your spreadsheets — for free.
Feature comparison
See how Holdings stacks up against Novo
| What you get | Holdings | Novo |
|---|---|---|
| 35+ Free Business Tools | ✅ Included free | ❌ Not included |
| Built-in Accounting | ✅ Included free | ❌ Not included |
| Invoice Generator | ✅ Included free | ❌ Not included |
| Expense Tracking | ✅ Included free | ❌ Not included |
| P&L / Balance Sheet | ✅ Real-time | ❌ Requires QuickBooks |
| Tax Calculators | ✅ Included free | ❌ Not included |
| Monthly Fees | Free | Free |
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| FDIC Insurance | Up to $3M | $250K |
| Sub-accounts | ✅ Unlimited free | ✅ Reserves (limited) |
| Physical Debit Cards | ✅ Free | ✅ Free |
| Virtual Cards | ✅ Free | ❌ Not available |
| Stripe/Shopify Integration | Via accounting sync | ✅ Native integration |
| Domestic Wires | Free | $25/wire |
| Team Permissions | ✅ Included | ✅ Included |
| Bookkeeping Add-on | $100/mo | Not offered |
Why choose Holdings over Novo
Stop juggling 5 apps — tools, accounting, and banking in one workspace
Novo is a bank. You still need QuickBooks, a spreadsheet for tracking, an invoice tool, and a tax prep app. Holdings replaces all of them with one free platform.
Your invoices auto-update your books
Send an invoice in Holdings and it automatically flows into your P&L, updates your balance sheet, and categorizes the income. No manual entry, no reconciliation.
Tax time takes 10 minutes, not 10 hours
Holdings auto-categorizes every transaction, generates real-time P&L and balance sheets, and includes tax calculators. Your books are always tax-ready.
Replace $100+/mo in software with a free platform
QuickBooks ($30-80/mo) + invoicing tool ($15-30/mo) + expense tracker ($10-20/mo) = $55-130/mo. Holdings includes all of it for $0.
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When Novo might be the better choice
Novo may be a better fit if you rely heavily on native Stripe or Shopify integrations, or if you want a very simple no-frills checking account and already have accounting software you like.
Frequently asked questions
I already have a bank — why do I need Holdings?
Holdings isn't just a bank. It's a financial workspace — 35+ free tools, built-in accounting, invoicing, expense tracking, and tax calculators. Banking is included, but the tools are what replace your QuickBooks, your spreadsheets, and your bookkeeper.
Can I use Holdings tools without switching banks?
Yes. The tools and accounting features are free for everyone. Banking is optional — you can connect your existing bank and still use Holdings as your financial workspace.
Can I switch from Novo to Holdings?
Yes. Open a Holdings account in minutes, then transfer funds via ACH. You can run both accounts side by side during the transition.
Which has better FDIC coverage?
Holdings offers up to $3M in FDIC insurance through its bank partner network. Novo offers standard $250K FDIC coverage through Middlesex Federal Savings.
What tools are included free with Holdings?
Holdings includes 35+ tools: invoice generator, expense tracking, P&L and balance sheets, tax calculators, receipt capture, cash flow forecasting, and more. All free, all connected to your accounts automatically.
Ready to run your business from one place?
35+ free tools. Free accounting. Connected banking. Try it in 5 minutes.
1.75% APY† • Zero fees^ • FDIC insured to $3M*