Updated October 17, 2026 · VaultCue Editorial Team
Kontist vs Novo
Kontist
Novo
Higher score in this comparison
Kontist vs Novo: the differences
| Compare | KontistReviewVisitVisit | NovoReviewVisitVisit |
|---|---|---|
| Monthly fee | €0 | $0 |
| Deposit protection | EU DGS up to EUR 100,000 | FDIC up to USD 250,000 |
| Local account details | IBAN | Us ACH |
| Free ATM withdrawals | €2 | $7 |
| Transfer fee | 0.25 EUR per additional SEPA transaction beyond the plan allowance (Free includes 5 per month) | Standard ACH $0; Express ACH and outgoing wire provider fees shown before sending |
| Currency conversion fee | 2% | Not confirmed |
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Key differences
- Novo scores higher overall: 9.2 vs 9.1.
- Local account details: only Kontist offers IBAN.
- Local account details: only Novo offers Us ACH.
- Support channels: only Kontist offers Phone.
- Features: only Kontist offers No credit check.
- Features: only Novo offers Free ATM.
Our verdict on each
Kontist
Kontist is a free to hold German account aimed at freelancers and small businesses paid in euros, and deposits sit in the EU guarantee scheme: EU DGS up to EUR 100,000. The trade off is a charge on every SEPA transfer past the plan allowance, on an account built for freelancer and business.
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 | Kontist | Novo |
|---|---|---|
| Cost | 8.9A monthly fee of €0 and conversion at 2% give a low running cost for an account that mostly holds euros. | 9.3HigherMonthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account. |
| Offer | 9.4HigherA free ATM allowance of €2 and local details covering iban make it usable day to day in the euro area. | 9.1 |
Pick Kontist if, pick Novo if
Pick Kontist if offer matter most.
Pick Novo if cost matter most.
How they place
| Ranking | Kontist | Novo |
|---|---|---|
| Business bank accounts | 14 of 563 | 10 of 563 |
| Accounts for freelancers | 7 of 130 | 4 of 130 |
What we checked
Kontist
- kontist.com: 12 facts, checked September 26, 2026
Novo
- novo.co: 11 facts, checked September 26, 2026
Every fact side by side
| Fact | Kontist | Novo |
|---|---|---|
| Audience | Freelancer, Business | Business, Freelancer |
| Pricing model | No monthly fee | No monthly fee |
| Features | No credit check | Free ATM |
| Legal entity | Shine Germany GmbH | Novo Platform Inc. |
| Headquarters | Germany | United States |
| Support channels | Email, Chat, Phone, Help centreCovers more | Chat, Email, Help centre |
Money transfer
| Fact | Kontist | 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 | Kontist | Novo | Median |
|---|---|---|---|
| Currency conversion fee | 2%above the median | Not confirmed | 0.5% |
Median across 377 listed accounts.
Pros and cons
Kontist
Pros
- Deposits are covered by the EU deposit guarantee scheme, EU DGS up to EUR 100,000, so a business balance has a stated safety net.
- The account runs without a credit check, no credit check, so opening it does not involve a credit review.
- Support runs on email, chat and phone, so phone and chat sit alongside email and a help centre.
Cons
- Every additional SEPA transaction past the plan allowance is charged, so a payment heavy freelancer pays more as volume grows.
- The currency conversion fee of 2% is above the 0.5% median and ranks 214 of 312, so frequent conversion is where the account costs most.
- Local details cover iban alone, so the account is built around a single market rather than wider payment rails.
Novo
Pros
- Both physical and virtual card access are described.
Cons
- Virtual-card activation follows account approval.
Who each suits
Kontist
Who it suits
- Freelancers billing in euros who want a business account opened without a credit check, since Kontist runs no credit check.
- Small businesses and sole traders who need a euro account with a monthly fee of €0 and a German IBAN.
- Anyone who wants the balance inside the EU deposit guarantee scheme, EU DGS up to EUR 100,000, with support on email, chat and phone.
Who should look elsewhere
- Not for readers who judge on the monthly fee alone: PayPal Colombia also lists a monthly fee of $0, so the choice there comes down to what the account gives you, such as local details covering iban.
- Not for high volume SEPA users, because each additional transaction past the plan allowance is charged.
- Not for anyone who wants a banking licence relationship of their own: the accounts sit with partner bank Solaris SE under BaFin and European Central Bank supervision.
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 | Kontist | Novo |
|---|---|---|
| Germany | Yes | No |
| United States | No | Yes |
Questions about each
Kontist
How much does it cost to hold a Kontist account?+
The monthly fee is €0, so holding the account is free. The costs that do apply are currency conversion at 2% and a charge on each additional SEPA transfer beyond the plan allowance, where the Free plan includes a limited number of those transactions every month.
Is my money protected at Kontist?+
Deposits sit under the EU deposit guarantee scheme, EU DGS up to EUR 100,000. The accounts themselves are held by partner bank Solaris SE rather than by Kontist, and the arrangement is supervised by BaFin and the European Central Bank.
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.