Novo
Worth it
Confidence: Medium
Buy if you are a freelancer or small business owner who wants fee-free checking with invoicing built in.
Comparison
Novo vs Mercury
Novo and Mercury both land on Worth it.
Mercury
Worth it
Confidence: Medium
A strong free business-banking pick for US-based startups and small teams that bank fully online.
| Compare | Novo | Mercury |
|---|---|---|
| Verdict | Worth it | Worth it |
| Best for | Freelancers invoicing clients monthly | US-based startups |
| Who it's not for | Businesses needing cash deposits or branches | Companies without a US entity |
| Privacy | No known public vulnerabilities found in the sources reviewed. | No known public vulnerabilities found in the sources reviewed. |
| Support quality | Users report no phone number for support | G2 praise vs Reddit complaints; mixed |
| Public sentiment | Users praise the simple, fee-free app but repeatedly complain about the lack of phone support.⁵ | Reviews are mostly positive on ease of use and design, with a vocal minority on Reddit complaining about account issues. |
| Biggest gotcha | No phone support; a user says issues go unresolved, costing a 1-star review⁶ | Reddit users warn of account issues . keep a backup bank relationship13 |
Pick Novo when
- Freelancers invoicing clients monthly
- Solopreneurs wanting fee-free checking
- Mobile-first small business owners
- Businesses paying contractors via ACH
When Novo is not a fit
- Businesses needing cash deposits or branches
- Anyone who needs phone support when things break
- Companies wanting deep bookkeeping in their bank
- Larger teams needing treasury or multi-user controls
Pick Mercury when
- US-based startups
- Remote-first small teams
- Founders sending global payments
- Budget-conscious small businesses
When Mercury is not a fit
- Companies without a US entity
- Businesses needing branch or cash-deposit services
- Teams wanting guaranteed hand-holding support
- Guess: cash-heavy retailers with frequent deposits
Sources
- Novo homepagenovo.coofficial
- Novo Business Checking: 2026 Review . NerdWalletnerdwallet.comreview
- Novo Review . US Newsusnews.comreview
- Novo Business Banking Review . Airwallexairwallex.comreview
- Novo . App Storeapps.apple.comreview
- Novo . Google Playplay.google.comreview
- Trustpilot reviews of novo.cotrustpilot.comreview
- Novo raises $125M Series B . LinkedInlinkedin.comnews
- Mercury . official sitemercury.comofficial
review
- Mercury Bank Review 2026 . Forbesforbes.comreview
- Mercury Reviews . Trustpilottrustpilot.comreview
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