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Updated October 17, 2026 · VaultCue Editorial Team

Novo vs Qonto

Novo scores 9.2 and Qonto 8.7 out of 10. Compare their differences and shared features below.
Novo

Novo

Higher score in this comparison

9.2/10
Visit
Qonto

Qonto

8.7/10
Visit

Novo vs Qonto: the differences

Novo vs Qonto
CompareNovoNovoReviewVisitVisitQontoQontoReviewVisitVisit
Minimum deposit$0€0
Deposit protectionFDIC up to USD 250,000EU DGS up to EUR 100,000
Access termsOn-demand access, no minimum balance requirementInstant access to the money, no notice period; remuneration activated in the app, calculated daily on the total balance and paid on the 2nd of each month; requires at least 5 eligible payment transactions of at least 1 EUR per month
Monthly fee$0€19
Headline rateNot confirmed1.5%
Rate typeNot confirmedVariable

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 8.7.
  • Qonto is available in 7 more countries.
  • Support channels: only Qonto offers Phone.

Our verdict on each

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.

Read the full Novo review

Qonto

Qonto suits businesses and freelancers who want their day to day banking in one app and will not chase the highest rate. The monthly fee of €19 is the trade off, and the 1.5% headline rate ranks 350 of 473 brands.

Read the full Qonto review

Score breakdown

Novo vs Qonto
AreaNovoQonto
Cost9.3HigherMonthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account.8.8A monthly fee of €19 on the standard plan and a minimum deposit of €0, against a site median of €0
Offer9.19.1Headline rate of 1.5% is variable and sits at 350 of 473
TrustNot confirmed8.3

Where each is licensed and available

Novo vs Qonto
CountryNovoQonto
FranceNot confirmed
FR_ACPR PSD_PI FR_ACPR!68677
United StatesNot confirmed

Additional countries for Novo: 1. Additional countries for Qonto: 8.

How they place

Novo vs Qonto
RankingNovoQonto
Savings accounts20 of 14208 of 1420
Cash management accounts5 of 453 of 45
Business bank accounts10 of 5635 of 563
Accounts for freelancers4 of 1302 of 130

What we checked

Novo

  • novo.co: 9 facts, checked September 26, 2026

Qonto

  • qonto.com: 9 facts, checked September 26, 2026
  • euclid.eba.europa.eu: 2 facts, checked September 26, 2026

Every fact side by side

Novo vs Qonto
FactNovoQonto
Pricing modelNo monthly feeNot confirmed
Legal entityNovo Platform Inc.QONTO
HeadquartersUnited StatesFrance
FoundedNot confirmed2017
Support channelsChat, Email, Help centreChat, Phone, Email, Help centreCovers more

Everyday accounts

Novo vs Qonto
FactNovoQonto
Licence typeNot confirmedPayment institution
Currency conversion feeNot confirmed0.8% to 1.8%
CurrenciesNot confirmedfrom 30
AudienceBusiness, FreelancerBusiness, Freelancer
FeaturesFree ATMDigital only
Local account detailsUs ACHIBAN
Free ATM withdrawals$7Not confirmed
Transfer feeStandard ACH $0; Express ACH and outgoing wire provider fees shown before sending30 SEPA transfers/month included, then EUR 0.20 per extra transaction (Basic plan)

Money transfer

Novo vs Qonto
FactNovoQonto
Delivery timeSame-day with Express ACH; FedNow transfers in secondsNot confirmed
Payout methodsBankNot confirmed
Fee to send 1,000$0Not confirmed

Where each stands against the rest

Novo vs Qonto
FactNovoQontoMedian
Headline rateNot confirmed1.5%lowest quarter3.25%

Median across 658 listed accounts.

Pros and cons

Novo

Pros

  • Both physical and virtual card access are described.

Cons

  • Virtual-card activation follows account approval.

Qonto

Pros

  • Minimum deposit of €0, so the account opens without tying up money
  • Support runs on chat, phone and email
  • Currency conversion of 0.8% to 1.8% suits frequent international invoicing

Cons

  • The monthly fee of €19 makes it expensive for anyone holding a small balance
  • The account is digital only, so there is no branch to visit
  • The 1.5% rate is only paid while the transaction condition is met

Who each suits

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.

Qonto

Who it suits

  • Freelancers and sole traders billing across borders
  • Small businesses paying and receiving in several currencies
  • Anyone who wants their accounts, cards and invoices in one app

Who should look elsewhere

  • Anyone saving mainly for yield, since the 1.5% rate is variable and ranks 350 of 473
  • People who want to hold a large balance while paying nothing, given the monthly fee of €19
  • Anyone who prefers a branch, as the account is digital only

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

Qonto

Current offer

  • Bonus

    Up to 5% AER account remuneration for 2 months for new customers: 5% AER for 2 months, then 1.5% AER on the Smart plan

    New customers only, first 2 months of the contract, on plans Smart and above; requires at least 5 eligible payment transactions of at least 1 EUR per month; remuneration capped at 50,000 EUR on Smart and 100,000 EUR on Premium; Account Remuneration currently available in France, Spain, Italy and the Netherlands

    Source, checked September 26, 2026

  • Free trial

    1-month free trial on business account plans: 1 month free

    Offered on the Basic, Smart and Premium business account plans, prices excl. VAT

    Source, checked September 26, 2026

Country by country

Novo vs Qonto
CountryNovoQonto
AustriaNoYes
BelgiumNoYes
FranceNoYes
GermanyNoYes
ItalyNoYes
NetherlandsNoYes
PortugalNoYes
SpainNoYes

8 of 9 countries where either is available.

Questions about each

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.

Qonto

How much does Qonto cost each month?+

The standard plan charges a monthly fee of €19. SEPA transfers are included up to a set monthly allowance, and each transfer beyond it carries a small fixed charge. Currency conversion adds 0.8% to 1.8% on converted payments.

Is there a minimum deposit to open a Qonto account?+

There is no minimum, and the stated minimum deposit is €0. The account can therefore be opened and funded with a small balance, which suits a new business or a first freelance invoice.

Other options to compare

Novo

Visit

Qonto

Visit