Updated October 17, 2026 · VaultCue Editorial Team
Novo vs Revolut UK
Novo
Higher score in this comparison
Revolut UK
Novo vs Revolut UK: the differences
| Compare | NovoReviewVisitVisit | Revolut UKReviewVisitVisit |
|---|---|---|
| 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 9.0.
- Revolut UK is licensed in 2 more countries.
- Support channels: only Revolut UK 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.
Revolut UK
Revolut UK's savings account suits savers who want easy access to their money and no monthly charge: the easy-access balance pays 4% on a variable rate, each deposit is covered by FSCS up to GBP 85,000, and the account kind is easy access so nothing is locked away for a term.
Score breakdown
| Area | Novo | Revolut UK |
|---|---|---|
| Cost | 9.3Monthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account. | 9.3A monthly fee of £0, a minimum deposit of £0 and a plan conversion fee that runs 0% to 1%. |
| Offer | 9.1 | 9.6HigherThe listed features are free atm and joint account, and the app holds 30 currencies in total. |
| Trust | Not confirmed | 8.5 |
Positions in our rankings
| Ranking | Novo | Revolut UK |
|---|---|---|
| Savings accounts | 20 of 1420 | 40 of 1420 |
| Business bank accounts | 10 of 563 | 23 of 563 |
| Accounts for freelancers | 4 of 130 | 12 of 130 |
Licences and countries
| Country | Novo | Revolut UK |
|---|---|---|
| Cyprus | Not confirmed | Cyprus Securities and Exchange Commission (CySEC) MiCA CASP 549300ET4IUR6RCZOL84 |
| Lithuania | Not confirmed | LT_BL PSD_EMI LT_LT_BL_304940980 |
| United Kingdom | Not confirmed | |
| United States | Not confirmed |
Sources behind this comparison
Novo
- novo.co: 9 facts, checked September 26, 2026
Revolut UK
- 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 UK |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee |
| Legal entity | Novo Platform Inc. | Revolut Payments UAB |
| Headquarters | United States | Lithuania |
| Founded | Not confirmed | 2015 |
| Support channels | Chat, Email, Help centre | Chat, Phone, Help centre, EmailCovers more |
Everyday accounts
| Fact | Novo | Revolut UK |
|---|---|---|
| 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 UK |
|---|---|---|
| Delivery time | Same-day with Express ACH; FedNow transfers in seconds | Not confirmed |
| Payout methods | Bank | Not confirmed |
| Fee to send 1,000 | $0 | Not confirmed |
Where each stands against the rest
| Fact | Novo | Revolut UK | 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 UK
Pros
- Access is instant in the app, with fee-free withdrawals and no withdrawal limits.
- Support runs on chat, phone and help centre, so a phone call or email is possible when the app is not enough.
- Regulated in the UK and in Europe: the account is run by Revolut Payments UAB, founded in 2015 and headquartered in Lithuania.
Cons
- The rate type is variable, so the 4% can move and nothing is fixed for a set period.
- The savings sit with a savings deposit partner rather than the brand itself, and the account licence type is e money.
- On headline rate the account ranks at 142 of 473 brands compared, so the return is competitive rather than exceptional.
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 UK
Who it suits
- Savers who want instant app access and no charge for holding the balance, rather than a card and credit deal such as AXI Card Tarjeta y Credito at 21.59%.
- Travelers, freelancers and teens, the audience named in travelers, freelancer and teen, who want 30 currencies and a conversion fee that runs 0% to 1%.
- Anyone starting out with a wallet, since PayPal Colombia is the listed alternative at 3.3% and this balance pays 4% with iban details.
Who should look elsewhere
- Savers shopping on the headline rate alone: the listed alternative Plazo ES shows 24.19% and AXI Card Tarjeta y Credito shows 21.59%, both far above the 4% paid here.
- People who need the return fixed for a set period, since the rate type is variable and the balance is easy-access by design.
- Customers who want the deposits held by the brand itself: the account licence type is e money and the savings sit with a savings deposit partner, a different structure from the listed wallet alternative PayPal Colombia at 3.3%.
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 UK |
|---|---|---|
| United States | Yes | No |
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 UK
What rate does the Revolut savings account pay?+
The easy-access balance pays a headline rate of 4%, and the rate type is variable, so the return can move with the market. Nothing has to be locked away for a term, and the account kind is easy access, so interest is credited on the balance you keep.
Is there a monthly fee or a minimum deposit?+
The monthly fee is £0 and the minimum deposit is £0, so the account can be opened with nothing in it and left open without a charge. The model is listed as no monthly fee, and 91.7% of the accounts compared run the same way.
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