Axos Business vs Novo: Which is Better in 2026?
Choosing between Axos Business and Novo comes down to understanding what each tool does best. This comparison breaks down the key differences so you can make an informed decision based on your specific needs, not marketing claims.
Bottom line: Novo is our overall pick for finance workflows. Pick Axos Business if you need its specific feature set.
Short on time? Here's the quick answer
We've tested both tools. Here's who should pick what:
Axos Business
Reimagine your business banking with digital-first solutions, competitive rates, and transparent pricing.
Best for you if:
- • Digital-first business banking with various checking and savings accounts.
- • Offers additional services like SBA loans, merchant, and payroll services.
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Best for you if:
- • You want to try before committing
- • Offers a free online business checking account with no hidden fees.
- • Provides tools for invoicing, budgeting, expense management, and integrates with popular business apps.
| At a Glance |  Axos Business |  Novo |
|---|---|---|
Starts at | Custom | FreeFree tier available |
Best For | Finance | Finance |
Rating | 4.3/5 | 3.5/5 |
Choose Axos Business or Novo?
Choose Axos Business if
Reimagine your business banking with digital-first solutions, competitive rates, and transparent pricing.
- Low to no monthly maintenance fees on certain accounts
- High-yield savings options
- Comprehensive suite of business services beyond just accounts
Choose Novo if
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
- Business banking for small businesses
- No hidden fees approach
- Integrates with business tools
- You want a free tier before you commit
| Feature | Axos Business | Novo |
|---|---|---|
| Pricing Model | Paid | Freemium |
| User Rating | ★4.3/5 67 reviews | ★3.5/5 11 reviews |
| Categories | FinancePayment Processing | FinanceInvoicing |
In-Depth Analysis
Axos Business
Reimagine your business banking with digital-first solutions, competitive rates, and transparent pricing.
Strengths
- +Low to no monthly maintenance fees on certain accounts
- +High-yield savings options
- +Comprehensive suite of business services beyond just accounts
- +100% online banking with a robust mobile app
- +Expanded FDIC insurance availability
Weaknesses
- -Requires maintaining a certain balance for welcome bonuses
- -Specific APY rates and bonus offers are time-sensitive
Key features
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Strengths
- +Business banking for small businesses
- +No hidden fees approach
- +Integrates with business tools
- +Easy account setup
- +Mobile-first banking
Weaknesses
- -Limited to US businesses
- -No physical branch locations
- -Feature set still evolving
- -Deposit and transfer limits
- -May not suit all business needs
Key features
Pricing: Axos Business vs Novo
| Plan | Axos Business | Novo |
|---|---|---|
| Tier 1 | N/A | Free Free |
Pricing verified from each vendor's public pricing page. Compare in detail on Axos Business pricing and Novo pricing.
Who Should Use What?
On a budget?
Novo has a free tier. Axos Business is paid only.
Go with: Novo
Want the highest-rated option?
Axos Business: 4.3/5 (67 reviews). Novo: 3.5/5 (11 reviews).
Go with: Axos Business
Value user reviews?
Axos Business: 67 reviews (4.3/5). Novo: 11 reviews (3.5/5).
Go with: Axos Business
3 Questions to Help You Decide
What's your budget?
Axos Business is paid. Novo is freemium. Novo lets you start free.
What's your use case?
Both are finance tools. Compare their specific features to decide.
How important are ratings?
Axos Business is rated higher: 4.3/5 vs 3.5/5.
Key Takeaways
Novo
- Free tier available
- Our pick for this comparison
Axos Business
- Higher user rating: 4.3/5 vs 3.5/5
- Larger review base (67 reviews)
The Bottom Line
Novo is our pick.
Frequently Asked Questions
Is Axos Business or Novo better?
Novo is rated in our evaluation. Axos Business is paid and Novo is freemium.
What are Axos Business and Novo used for?
Axos Business: Reimagine your business banking with digital-first solutions, competitive rates, and transparent pricing.. Novo: Smarter online business banking solutions for small businesses and self-employed entrepreneurs..
What does Axos Business cost vs Novo?
Axos Business is a paid tool. Novo is freemium (free tier + paid plans). Visit their websites for detailed pricing.