Updated September 28, 2026 · SumCue Editorial Team
Finom vs Novo
Finom
Novo
Higher score in this comparison
What sets them apart
| Compare | FinomReviewVisitVisit | NovoReviewVisitVisit |
|---|---|---|
| Minimum deposit | €0 | $0 |
| Deposit protection | EU DGS up to EUR 100,000 | FDIC up to USD 250,000 |
| Access terms | Instant access, withdraw at any time with no withdrawal penalties | On-demand access, no minimum balance requirement |
| Monthly fee | €0 | $0 |
| Headline rate | 5% | Not confirmed |
| Rate type | Fixed | Not confirmed |
Same on both: Account kind (Cash management).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Novo scores higher overall: 9.2 vs 8.9.
- Finom is licensed in 1 more country.
- Finom is available in 10 more countries.
- Support channels: only Finom offers Community.
- Pricing model: only Finom offers Fixed rate.
Our verdict on each
Finom
Finom is a cash management account for a business audience that pays a fixed 5% headline with a monthly fee of €0 and instant access whenever cash is needed. It suits companies that hold euro reserves and want deposit protection of EU DGS up to EUR 100,000 without locking the money away.
Novo
Novo is a US business checking account with a debit card attached, aimed at companies that keep everyday cash in a fee-free place. The monthly fee is $0 and the minimum deposit is $0, so the account costs nothing to run and asks for nothing to open it.
Score breakdown
| Area | Finom | Novo |
|---|---|---|
| Cost | 9.3Running costs stay light: €0 monthly fees on the cash management account, plus a minimum deposit of €0. | 9.3 |
| Offer | 9.7HigherThe fixed 5% headline, cashback of up to 3% and instant access with no withdrawal penalties cover interest and reward. | 9.2 |
| Trust | 8.2 | Not confirmed |
Where they rank in our lists
| Ranking | Finom | Novo |
|---|---|---|
| Savings | 3 of 1492 | 21 of 1492 |
| Cash management accounts | 1 of 46 | 5 of 46 |
| Credit and debit cards | 2 of 1594 | 23 of 1594 |
Availability and regulation
| Country | Finom | Novo |
|---|---|---|
| Cyprus | Not confirmed | |
| Netherlands | De Nederlandsche Bank (DNB) R180074 | Not confirmed |
| United States | Not confirmed |
Additional countries for Finom: 11. Additional countries for Novo: 1.
Every fact side by side
| Fact | Finom | Novo |
|---|---|---|
| Pricing model | No monthly fee, Fixed rateCovers more | No monthly fee |
| Legal entity | PNL Fintech B.V. | Novo Platform Inc. |
| Headquarters | Netherlands | United States |
| Founded | 2019 | Not confirmed |
| Support channels | Email, Chat, Help centre, CommunityCovers more | Chat, Email, Help centre |
Credit cards
| Fact | Finom | Novo |
|---|---|---|
| Rewards type | Cashback | Not confirmed |
| Features | Rewards | Virtual card |
| Rewards rate | up to 3% | Not confirmed |
| Audience | Business | Business |
Debit cards
| Fact | Finom | Novo |
|---|---|---|
| Card type | Not confirmed | Debit |
| Card network | Not confirmed | Mastercard |
Where each stands against the rest
| Fact | Finom | Novo | Median |
|---|---|---|---|
| Headline rate | 5%above the median | Not confirmed | 3.3% |
Median across 710 listed providers.
Pros and cons
Finom
Pros
- A fixed 5% headline, above bunq at 3.01% and Wise at 3.29%.
- The cash management account carries a monthly fee of €0 and a minimum deposit of €0, so nothing is taken back out of the balance.
- Instant access with no withdrawal penalties, so cash can move the same day it lands.
Cons
- Support runs on email, chat and help centre only, so an urgent payment problem has no phone line to call.
- The fixed 5% rate is set rather than linked, so it carries no upside if market rates climb further.
- Deposit protection runs as EU DGS up to EUR 100,000, so a balance above that ceiling carries the risk itself.
Novo
Pros
- Access is on demand, with no minimum balance requirement to keep the account open.
- Deposit protection of FDIC up to USD 250,000 covers balances held in the US.
- The debit card runs on mastercard and comes with a virtual card for online spending.
Cons
- Help runs on chat, email and help centre only, so there is no phone line listed.
- The account is built for a business audience, so it does not serve personal savers.
- Deposit protection stops at FDIC up to USD 250,000, so balances above that limit are not covered.
Who each suits
Finom
Who it suits
- Companies that keep euro working capital in one place and draw on it as invoices clear, on a fixed rate of 5%.
- Business owners who care more about fees than flexibility, since the monthly charge is €0.
- Firms that want deposit protection of EU DGS up to EUR 100,000 without giving up instant access.
Who should look elsewhere
- Personal savers weighing bunq or Wise, because the account is built for a business audience rather than households.
- Anyone who needs a phone line, since support runs on email, chat and help centre only while 80.2% of savings brands take calls.
- Anyone holding more cash than the guarantee scheme covers, since protection runs as EU DGS up to EUR 100,000.
Novo
Who it suits
- Companies that pay out by debit card and want a virtual card for online purchases.
- Firms that hold operating cash and want deposit protection of FDIC up to USD 250,000.
- Businesses that would rather not pay a monthly charge for everyday banking.
Who should look elsewhere
- bunq, whose deposits sit under EU DGS up to EUR 100,000, suits readers who want that scheme in the EU.
- Wise is the pick if protection of EU DGS up to EUR 100,000 matters more than a business account.
- Finteres asks for a minimum deposit of €100, so it does not suit anyone starting with less.
Current offers
Finom
Current offer
Bonus
Fixed 5% p.a. on EUR funds for the first 5 months: 5% p.a. fixed for 5 months on up to EUR 200,000
Interest Account, new EUR funds; promo rate for the first 5 months, then standard rate from 0.5% to 2.25% p.a. depending on plan; up to EUR 200,000 held; market analysis dated March 2026; Aksys client agreement terms apply
Source, checked September 26, 2026
Free trial
30-day trial on paid plans: 30 days
Paid Basic and Smart plans, excl. VAT; paid monthly or yearly
Source, checked September 26, 2026
First period offer
3 months for free for partners customers only: 3 months free
Customers introduced through the Finom Partner Program
Source, checked September 26, 2026
Novo
Current offer
Bonus
Novo cashback on eligible purchases: 1% cashback with a Novo checking account balance under $5,000; 2% with a balance of $5,000 or more
Requires a Novo checking account; rate depends on account balance; eligibility subject to final Novo determination
Source, checked September 26, 2026
Country by country
| Country | Finom | Novo |
|---|---|---|
| Austria | Yes | No |
| Belgium | Yes | No |
| Cyprus | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Ireland | Yes | No |
| Italy | Yes | No |
| Netherlands | Yes | No |
8 of 12 countries where either is available.
Questions about each
Finom
What interest rate does Finom pay?+
Finom pays a headline rate of 5% on its cash management account, and the rate is fixed. That figure is set rather than something that follows a base rate, so the headline shown is the rate the account pays for as long as it runs. Cashback of up to 3% adds a further stream of return on top of the interest.
Is there a monthly or annual fee?+
Monthly fees on the cash management account are €0, and the pricing model is a no monthly fee setup alongside a fixed rate. The interest is the return line and nothing further is taken from the balance, so a business holding a large euro float keeps the whole 5% headline.
Novo
How much does a Novo business checking account cost?+
Novo charges a monthly fee of $0 and asks for a minimum deposit of $0. The account runs on a no monthly fee basis, so there is no monthly charge and no opening balance requirement for the account itself.
Is money held at Novo protected?+
Yes. Novo Platform Inc. holds deposits covered by FDIC up to USD 250,000. The scheme applies to balances in the US up to the stated limit, and anything held above that limit sits outside the protection.
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