Comparison

Holdings vs Novo

Novo offers free business checking. Holdings gives you that plus built-in accounting, 1.75% APY on every dollar, and up to $3M in FDIC coverage.

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Feature comparison

See how Holdings stacks up against Novo

Feature	Holdings	Novo
Monthly Fees	Free	Free
APY on Deposits	1.75%	None
FDIC Insurance	Up to $3M	$250K
Built-in Accounting	✅ Included free	❌ Not included
Auto-Categorization	✅ Included free	❌ Not included
P&L / Balance Sheet	✅ Included free	❌ Requires QuickBooks
Sub-accounts	✅ Unlimited free	✅ Reserves (limited)
Physical Debit Cards	✅ Free	✅ Free
Virtual Cards	✅ Free	❌ Not available
Stripe/Shopify Integration	Via accounting sync	✅ Native integration

Why choose Holdings over Novo

Accounting included at no cost

Novo requires third-party accounting software ($30-80/mo). Holdings includes auto-categorization, P&L, balance sheets, and cash flow reports for free.

1.75% APY on every dollar

Novo pays no interest on deposits. With Holdings, your operating cash earns 1.75% APY automatically — no minimum balance, no tiering.

Up to $3M FDIC coverage

Novo offers standard $250K FDIC insurance. Holdings extends coverage up to $3M through its bank partner network — ideal for businesses holding larger balances.

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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

Is Holdings free like Novo?

Yes. Holdings has zero monthly fees, zero minimum balances, and free transfers — same as Novo. Holdings also includes accounting software at no cost.

Does Novo offer interest on deposits?

Novo does not currently pay interest on checking balances. Holdings pays 1.75% APY on all deposits with no minimum or tiering.

Does Novo have built-in accounting?

No. Novo integrates with third-party accounting tools like QuickBooks and Xero, but does not include accounting features. Holdings includes auto-categorization, P&L, and balance sheets.

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.