Updated October 17, 2026 · VaultCue Editorial Team
Novo vs Revolut AU
Novo
Higher score in this comparison
Revolut AU
Novo vs Revolut AU: the differences
| Compare | NovoReviewVisitVisit | Revolut AUReviewVisitVisit |
|---|---|---|
| Minimum deposit | $0 | £0 |
| Deposit protection | FDIC up to USD 250,000 | FSCS up to GBP 85,000 |
| Access terms | On-demand access, no minimum balance requirement | Instant access via the Revolut app, fee-free withdrawals, no withdrawal limits |
| Monthly fee | $0 | £0 |
| Account kind | Cash management | Easy access |
| Headline rate | Not confirmed | 4% |
| Rate type | Not confirmed | Variable |
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Key differences
- Novo scores higher overall: 9.2 vs 9.1.
- Revolut AU is licensed in 1 more country.
- Revolut AU is available in 38 more countries.
- Support channels: only Novo offers Email.
- Support channels: only Revolut AU offers Phone.
- Pricing model: only Revolut AU offers Low FX.
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.
Revolut AU
Revolut AU is a fair pick for travellers, freelancers and teens who want many currencies without a monthly charge. It scores 7.6 overall, with an offer part of 9.3 and a cost part of 6.3. The monthly fee is £0 and the currency conversion fee runs 0% to 1%.
Score breakdown
| Area | Novo | Revolut AU |
|---|---|---|
| Cost | 9.3Monthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account. | 9.4HigherMonthly fee of £0 and currency conversion fees of 0% to 1% sit near the site medians of €0 and 0.5%. |
| Offer | 9.1 | 9.3HigherHolds 30 currencies, 4% variable savings and free atm and joint account, giving an offer score of 9.3. |
| Trust | Not confirmed | 8.6 |
Where they rank in our lists
| Ranking | Novo | Revolut AU |
|---|---|---|
| Savings accounts | 20 of 1420 | 39 of 1420 |
| Business bank accounts | 10 of 563 | 22 of 563 |
| Accounts for freelancers | 4 of 130 | 11 of 130 |
| Money transfer services | 10 of 1564 | 28 of 1564 |
Licences and countries
| Country | Novo | Revolut AU |
|---|---|---|
| Lithuania | Not confirmed | LT_BL PSD_EMI LT_LT_BL_304940980 |
| United Kingdom | Not confirmed | Financial Conduct Authority 933846 |
| United States | Not confirmed |
Available in 1 country for both. Additional countries for Revolut AU: 38.
Sources behind this comparison
Novo
- novo.co: 9 facts, checked September 26, 2026
Revolut AU
- revolut.com: 9 facts, checked September 26, 2026
- euclid.eba.europa.eu: 2 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Novo | Revolut AU |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee, Low FXCovers more |
| Legal entity | Novo Platform Inc. | Revolut Payments UAB |
| Headquarters | United States | Lithuania |
| Founded | Not confirmed | 2015 |
| Support channels | Chat, Email, Help centre | Chat, Help centre, Phone |
Everyday accounts
| Fact | Novo | Revolut AU |
|---|---|---|
| Licence type | Not confirmed | E money |
| Currency conversion fee | Not confirmed | 0% to 1% |
| Currencies | Not confirmed | 30 |
| Audience | Business, Freelancer | Travelers, Freelancer, Teen |
| Features | Free ATM | Free ATM, Joint accountCovers more |
| Local account details | Us ACH | IBAN |
| Free ATM withdrawals | $7 | Not confirmed |
| Transfer fee | Standard ACH $0; Express ACH and outgoing wire provider fees shown before sending | Free in SEPA; paid plans discount elsewhere, free on Ultra worldwide |
Money transfer
| Fact | Novo | Revolut AU |
|---|---|---|
| Delivery time | Same-day with Express ACH; FedNow transfers in seconds | Not confirmed |
| Payout methods | Bank | Bank |
| Fee to send 1,000 | $0 | Not confirmed |
Where each stands against the rest
| Fact | Novo | Revolut AU | Median |
|---|---|---|---|
| Headline rate | Not confirmed | 4%above the median | 3.25% |
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.
Revolut AU
Pros
- Monthly fee of £0, ranked 1 of 500 brands on that measure.
- Currencies held number 30, well above the site median of 5 for the set.
- A savings balance paying 4% at a variable rate, against a site median of 3%.
Cons
- Deposit protection is listed as FSCS up to GBP 85,000, and the licence type is e money rather than a bank licence.
- The savings rate is variable, so the 4% figure can move.
- Transfer pricing is uneven: free in SEPA, discounted on paid plans elsewhere, and free on Ultra worldwide.
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.
Revolut AU
Who it suits
- Travellers holding several currencies, one of the audiences in travelers, freelancer and teen.
- Freelancers billing across currencies who want local account details such as iban.
- Teens in travelers, freelancer and teen who want a joint account or free ATM withdrawals.
Who should look elsewhere
- Anyone wanting a bank licence rather than e money cover.
- Skrill, if you want a money transfer service rather than a multi-currency current account.
- XTB, if you want a trading platform with its own fee of €0.
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 | Novo | Revolut AU |
|---|---|---|
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Brazil | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 39 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.
Revolut AU
What is the monthly fee on Revolut AU?+
The monthly fee is £0, and the account sits in the no monthly fee and low fx model. It ranks 1 of 500 brands on monthly fee, matching the site median of €0, so nothing is deducted for holding the account.
How much does it cost to change currency?+
Currency conversion costs 0% to 1% across 30 currencies. The upper end of that range sits near the everyday-account maximum of 3.99%, so frequent conversion is the line to watch in the pricing.
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