Updated October 17, 2026 · VaultCue Editorial Team
bunq vs Novo
bunq
Novo
Higher score in this comparison
What sets them apart
| Compare | bunqReviewVisitVisit | NovoReviewVisitVisit |
|---|---|---|
| Deposit protection | EU DGS up to EUR 100,000 | FDIC up to USD 250,000 |
| Access terms | Withdraw any amount free up to 2 times a month, rising to 3 free monthly withdrawals after 12 months; interest paid weekly | On-demand access, no minimum balance requirement |
| Monthly fee | €0 | $0 |
| Account kind | Easy access | Cash management |
| Headline rate | 3.01% | Not confirmed |
| Rate type | Variable | Not confirmed |
| Minimum deposit | Not confirmed | $0 |
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.
- bunq is licensed in 6 more countries.
- bunq is available in 6 more countries.
Our verdict on each
bunq
bunq suits savers who want an easy-access euro account that costs nothing to keep and pays a variable rate with weekly interest, protected by an EU guarantee. The rate of 3.01% is solid rather than remarkable, and support runs on email, chat and help centre only.
Novo
Novo is a US business-banking fintech. It sends a physical debit card to the primary owner when the account is opened, and a virtual card can be activated after approval.
Score breakdown
| Area | bunq | Novo |
|---|---|---|
| Cost | 9.1Monthly fee of €0 on a no monthly fee account, with a currency conversion fee of 3% on the free plan. | 9.3HigherMonthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account. |
| Offer | 9.1Rate of 3.01% that is variable, close to the savings median of 3%. | 9.1 |
| Trust | 8.7 | Not confirmed |
How they place
| Ranking | bunq | Novo |
|---|---|---|
| Savings accounts | 6 of 1420 | 20 of 1420 |
| Business bank accounts | 3 of 563 | 10 of 563 |
Licences and countries
| Country | bunq | Novo |
|---|---|---|
| Belgium | Not confirmed | |
| France | Not confirmed | |
| Germany | Not confirmed | |
| Ireland | Not confirmed | |
| Italy | Not confirmed | |
| Netherlands | Not confirmed | |
| Spain | Not confirmed | |
| United States | Not confirmed |
Additional countries for bunq: 7. Additional countries for Novo: 1.
Sources behind this comparison
bunq
- bunq.com: 5 facts, checked September 26, 2026
- help.bunq.com: 4 facts, checked September 26, 2026
- dnb.nl: 1 fact, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Novo
- novo.co: 9 facts, checked September 26, 2026
Every fact side by side
| Fact | bunq | Novo |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee |
| Legal entity | bunq B.V. | Novo Platform Inc. |
| Headquarters | Netherlands | United States |
| Founded | 2012 | Not confirmed |
| Support channels | Email, Chat, Help centre | Chat, Email, Help centre |
Everyday accounts
| Fact | bunq | Novo |
|---|---|---|
| Currency conversion fee | 3% | Not confirmed |
| Audience | Expats, Travelers, Business, Student | Business, Freelancer |
| Features | Joint account, Digital only | Free ATM |
| Local account details | IBAN | Us ACH |
| Free ATM withdrawals | Not confirmed | $7 |
| Transfer fee | Not confirmed | Standard ACH $0; Express ACH and outgoing wire provider fees shown before sending |
Money transfer
| Fact | bunq | Novo |
|---|---|---|
| Delivery time | Not confirmed | Same-day with Express ACH; FedNow transfers in seconds |
| Payout methods | Not confirmed | Bank |
| Fee to send 1,000 | Not confirmed | $0 |
Where each stands against the rest
| Fact | bunq | Novo | Median |
|---|---|---|---|
| Headline rate | 3.01%below the median | Not confirmed | 3.25% |
| Minimum deposit | Not confirmed | $0at the median | $0 |
Median across 658 listed accounts.
Pros and cons
bunq
Pros
- The monthly fee is €0 and the pricing model is no monthly fee, so keeping the account open costs nothing each month.
- Interest is paid weekly and the rate type is variable, so money keeps earning between withdrawals without a term to serve out.
- Balances are covered by EU DGS up to EUR 100,000, so there is a payout route if the provider fails.
Cons
- The rate type is variable, so the return follows the base rate and the account ranks 240 of 473 brands on the headline rate.
- Support runs on email, chat and help centre only, which leaves phone callers with a narrower route in.
- Features list joint account and digital only, so the service is digital only and there is no branch counter.
Novo
Pros
- Both physical and virtual card access are described.
Cons
- Virtual-card activation follows account approval.
Who each suits
bunq
Who it suits
- People who want an easy-access euro account that pays interest weekly and costs nothing to hold.
- Travellers and expats, part of the expats, travelers and business bunq targets, who convert currency and want a local IBAN.
- Students and savers who value EU DGS up to EUR 100,000 over a higher rate.
Who should look elsewhere
- Anyone chasing a top fixed rate, since 24.19% at plazo pays far more.
- Customers who need a phone helpline, as support runs on email, chat and help centre only.
- Anyone wanting a branch counter, because features list joint account and digital only and the service is digital only.
Novo
Who it suits
- US business owners who want physical and virtual debit-card access through Novo.
Who should look elsewhere
- Applicants expecting virtual-card activation before account approval.
Current offers
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 | bunq | Novo |
|---|---|---|
| Belgium | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Ireland | Yes | No |
| Italy | Yes | No |
| Netherlands | Yes | No |
| Spain | Yes | No |
| United States | No | Yes |
Questions about each
bunq
What does bunq charge to keep a savings account?+
The monthly fee is €0 and the account is priced on a no monthly fee basis, so there is no recurring charge to keep it open. The one cost to watch when you spend abroad is currency conversion at 3% on the free plan. Interest is still paid weekly with no fee deducted.
How much interest does the account pay?+
The rate is 3.01% and the rate type is variable, so the figure follows the base rate instead of being fixed to a term. Across the savings accounts on the site, the median headline rate is 3%, which puts bunq near the middle. Interest is credited weekly rather than monthly.
Novo
Which tools can connect with the banking setup?+
Accounting, payments and payroll tools can be connected so that information stays in step across the business. A change made in one place carries through to the others without retyping. Owners who already use established bookkeeping routines can keep those habits in place while adding more reach.
Can a business grow without changing banks?+
The platform is designed to handle more volume as a company grows, so owners can plan ahead without adding extra busywork. Its features are meant to scale with the operation rather than forcing a move to a larger bank. Keeping the same banking setup while the business expands can make transitions smoother for owners and the people they work with.
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