Choosing the right business banking platform can make a huge difference in how efficiently you manage your money, automate your finances, and grow your business. Holdings and Novo are two of the most popular digital-first options for small businesses, freelancers, and startups. Both offer fee-free banking and a modern user experience, but they take different approaches to features, integrations, and financial management. Here’s a side-by-side look at what each offers, who they’re best for, and how Holdings stacks up against other top business banking competitors.
Quick Comparison Table
Feature | Holdings | Novo |
|---|---|---|
Interest/APY | Tiered: up to 3.0% APY for large balances | No interest/APY |
Monthly Fees | None | None |
Minimum Balance | $0 | $0 to open, $50 to unlock all features |
Wire/ACH Fees | Unlimited free wires and ACH | Free ACH, no wire transfers |
ATM Access | Fee-free at Allpoint, cash deposit options | ATM fee reimbursements up to $7/month |
Cash Deposits | Supported | Not supported |
Accounting Integration | Built-in, automated, plus QuickBooks integration | Integrations with 20+ third-party tools |
Bookkeeping | Optional full-service bookkeeping | Not included |
Invoicing & Bill Pay | Unlimited, included | Invoicing, bill pay, and budgeting tools |
Subaccounts | Unlimited | Novo Reserves for budgeting |
Mobile App | Yes | Yes |
Ideal For | SMBs, growing businesses, digital-first teams | Freelancers, startups, side hustles |
What Makes Holdings Stand Out?
High-Yield, Tiered APY: Earn up to 3.0% APY on large balances—so your cash actually grows, not just sits.
Truly Fee-Free: No monthly fees, no transaction fees, no wire/ACH fees, and no minimum balance requirements.
All-in-One Financial Platform: Banking, accounting, invoicing, bill pay, and even optional full-service bookkeeping—no more juggling disconnected tools.
Unlimited Subaccounts: Organize your finances your way, with as many accounts as you need for budgeting, taxes, or profit-first strategies.
Cash-Friendly: Deposit cash at supported locations, a feature Novo doesn’t offer.
Automation for Busy Owners: Automated reporting, reconciliation, and financial management built right in.
Where Novo Shines
Fast Access to Funds: Novo Boost lets you receive Stripe payouts within hours, and Express ACH enables same-day ACH processing.
ATM Fee Reimbursements: Get up to $7/month in ATM fee reimbursements, making cash withdrawals more convenient.
Novo Reserves: Set aside funds for taxes, payroll, or business goals with easy-to-use sub-accounts for budgeting.
Integrations: Connect with 20+ leading accounting and payment processing providers, including QuickBooks, Xero, Stripe, Shopify, and more.
Digital-First Simplicity: Designed for freelancers, startups, and side hustles that want a simple, mobile-first banking experience.
Who Should Choose Which?
Holdings is best for:
SMBs and entrepreneurs who want to maximize interest on their deposits with tiered rates up to 3% APY
Businesses seeking a truly fee-free, all-in-one banking and accounting solution
Companies that need unlimited subaccounts for advanced budgeting or profit-first cash management
Owners who value automation and optional full-service bookkeeping
Businesses that need to deposit cash or want unlimited free wires and ACH
Novo is best for:
Freelancers, startups, and side hustles with minimal initial funding
Business owners who prioritize rapid access to funds and faster payments
Entrepreneurs who want simple budgeting tools (Novo Reserves) and easy integrations with third-party apps
Companies that don’t need to deposit cash or require complex accounting features
What About Fees and Limits?
Holdings: No monthly fees, no transaction fees, no wire/ACH fees, unlimited free money movement, and no minimum balance requirements.
Novo: No monthly fees, no minimum balance after initial $50 deposit, free ACH transfers, no wire transfers, and up to $7/month in ATM fee reimbursements.
Compare Holdings to Other Top Business Banks
Curious how Holdings stacks up against other leading business banking solutions? Explore these in-depth comparisons:
The Bottom Line
Both Holdings and Novo offer modern, digital-first banking for small businesses—but they serve slightly different needs. Holdings is ideal if you want to maximize your interest, automate your finances, and manage everything in one place with no monthly fees or upgrade requirements. Novo is a great fit for freelancers, startups, and side hustles that want simple, fee-free banking with fast access to funds and easy integrations.
Ready to see how Holdings can help your business grow? Explore our full suite of comparisons above, or get started today