Updated October 17, 2026 · VaultCue 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 suits freelancers and small businesses that want a euro cash account with a set rate and instant access. A minimum deposit of €0 and local IBAN details make it easy to open, though the fixed rate will not follow the market 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 | Finom | Novo |
|---|---|---|
| Cost | 9.3Costs sit at the free end: a monthly fee of €0 and a conversion fee of 1% near the site median of 0.5%. | 9.3Monthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account. |
| Offer | 9.7HigherA fixed rate of 5% with instant access, ranking 92 of 473 on rate. | 9.1 |
| Trust | 8.2 | Not confirmed |
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.
Where they rank in our lists
| Ranking | Finom | Novo |
|---|---|---|
| Savings accounts | 1 of 1420 | 20 of 1420 |
| Cash management accounts | 2 of 45 | 5 of 45 |
| Business bank accounts | 1 of 563 | 10 of 563 |
| Accounts for freelancers | 1 of 130 | 4 of 130 |
Sources behind this comparison
Finom
- finom.co: 12 facts, checked September 26, 2026
Novo
- novo.co: 9 facts, checked September 26, 2026
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 |
Everyday accounts
| Fact | Finom | Novo |
|---|---|---|
| Currency conversion fee | 1% | Not confirmed |
| Currencies | 17 | Not confirmed |
| Audience | Business, Freelancer | Business, Freelancer |
| Features | Free ATM | Free ATM |
| Local account details | IBAN | Us ACH |
| Free ATM withdrawals | €10,000 | $7 |
| Transfer fee | Free outgoing SEPA transfers up to EUR 2,500 per month (Solo plan); outgoing international payments 1% (Solo) to 0.20% (Pro) | Standard ACH $0; Express ACH and outgoing wire provider fees shown before sending |
Money transfer
| Fact | Finom | 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 | Finom | Novo | Median |
|---|---|---|---|
| Headline rate | 5%above the median | Not confirmed | 3.25% |
Median across 658 listed accounts.
Pros and cons
Finom
Pros
- The minimum deposit is €0, so an account can be opened without a large opening balance.
- The transfer fee leaves outgoing SEPA transfers free on the Solo plan within a monthly limit.
- Local IBAN details sit alongside 17 currencies, so one account can take payments in several currencies.
Cons
- The interest rate is fixed, so it will not rise with the market while most savings accounts here are variable (79%).
- The transfer fee for outgoing international payments is higher on the Solo plan than on the Pro plan.
- Deposit protection is EU DGS up to EUR 100,000, so any balance above that cap sits outside the scheme.
Novo
Pros
- Both physical and virtual card access are described.
Cons
- Virtual-card activation follows account approval.
Who each suits
Finom
Who it suits
- Freelancers and sole traders who need local IBAN details and can move money the same day it arrives.
- Small businesses paid in euros by clients abroad who want several currencies in one place.
- Readers who want a set rate on working money rather than the highest variable rate on the table.
Who should look elsewhere
- Anyone ranking purely on the headline figure, since Plazo ES lists 24.19% and AXI Card Tarjeta y Credito 21.59%.
- Variable rate savers, since 79% of the brands in this group pay a variable rate and the Finom rate is fixed.
- Readers happy with a wallet and a smaller return, since PayPal Colombia lists 3.3%.
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
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 does it cost to keep a Finom account?+
The monthly fee is €0 and the minimum deposit is €0, so there is no cost to holding a balance and no need for a large opening payment. The charge that matters is currency conversion at 1%, plus outgoing international payments, which cost more on the Solo plan than on the Pro plan.
Is my money protected if something goes wrong?+
Balances sit under the EU deposit guarantee scheme, with protection stated as EU DGS up to EUR 100,000. Finom is entered on the Dutch register as R180074 and on the Cypriot register as 456/25, so more than one supervisor is watching the business.
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.
Other options to compare
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