Snapshot
Brex and Novo compared on the points that usually decide a business account: account type, monthly fee, currency support, eligibility and where each one is available.
Brex figures as of 23 March 2026Novo figures as of 23 March 2026Last reviewed 23 March 2026
General information, not financial, legal, or tax advice. There is no single best account. The right fit depends on your business. Verify current terms and eligibility with each provider before applying.
Brex and Novo are both United States financial technology companies, but they serve different businesses. Brex pairs a no monthly fee business account with corporate cards and spend management for incorporated startups and scaling firms. Novo offers a free online checking account aimed at small businesses and freelancers, including sole proprietors. Use the comparison below to weigh account type, fees, eligibility and availability against how your company operates, then confirm the latest terms with each provider. Figures are shown as of 23 March 2026.
Brex vs Novo at a glance
| Feature | Brex | Novo |
|---|---|---|
| Account type | Business account held through partner program banks and a money market fund, with corporate cards and spend management. Brex is a financial technology company, not a bank. | Online business checking from Novo, a financial technology company with banking services provided through a partner bank. No monthly fee and no minimum balance. |
| Who it suits | United States incorporated startups and scaling companies, often venture or professionally funded, that want a digital account with corporate cards and spend management. | United States based sole proprietors, LLCs, partnerships and corporations, especially small businesses and freelancers that want a free online checking account. |
| Monthly fee | No monthly account fee and no minimum balance on the business account. Spend management software plans add features at a monthly cost. As of 23 March 2026. | No monthly fee and no minimum balance. As of 23 March 2026. |
| Transaction fees | No fee on standard ACH transfers and domestic and international wires on the account. Some advanced or high volume features can carry fees. As of 23 March 2026. Verify the current rate card with Brex. | No transaction fees and no incoming wire fees. A 27 United States dollar insufficient funds fee and a 27 United States dollar uncollected funds returned fee apply. As of 23 March 2026. |
| FX fees | International wires and foreign currency payments can carry fees that vary by route and currency. Unclear at a single headline rate, so verify with Brex. As of 23 March 2026. | Primarily a United States dollar account with limited international features. Unclear at a single headline rate, so verify with Novo. As of 23 March 2026. |
| Minimum deposit | No account minimum and no account opening fee. As of 23 March 2026. Verify with Brex. | 50 United States dollars to open, then no minimum balance. As of 23 March 2026. |
| Multi currency | The account is United States dollar based. International United States dollar payments are supported, and some currency features carry fees. As of 23 March 2026. | No. It is a United States dollar checking account, not a multi currency account. As of 23 March 2026. |
| Eligibility | Businesses incorporated in the United States with an Employer Identification Number, such as an LLC, S corporation, C corporation or limited partnership. Sole proprietorships are not eligible, and Brex is aimed at funded startups and scaling companies. As of 23 March 2026. Verify with Brex. | United States based sole proprietorships, partnerships, LLCs and corporations. Some industries, such as cryptocurrency and cannabis, are not accepted. As of 23 March 2026. Verify with Novo. |
| Broadly available in | The United States. The business must be a United States incorporated entity. As of 23 March 2026. | The United States only. As of 23 March 2026. |
Brex and Novo differ most on target customer and eligibility. Brex serves United States incorporated companies and is aimed at funded startups, while Novo also accepts sole proprietors and focuses on small businesses and freelancers. Match those to how your company operates, then confirm the latest fees and eligibility with each provider.
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Each provider accepts business customers in its supported market. Figures shown as of 23 March 2026. Confirm current terms with the provider before applying.
Visit Brex → Visit Novo →Questions about Brex and Novo
Which is better for my business, Brex or Novo?
It depends on your needs. The table on this page compares Brex and Novo on account type, fees, currency support, eligibility and availability using each provider's published terms. Weigh those against how your business operates, then confirm current terms with each provider. This is information, not advice.
Can I use Brex and Novo together?
Often yes, subject to each provider's eligibility rules. Some United States businesses keep more than one account, for example a Novo checking account for everyday banking and a Brex account for corporate cards and spend management. Check eligibility with each provider before applying.
Are the fees on this page current?
Each figure is shown with the date it was recorded, as of 23 March 2026. Fees and eligibility change, so confirm current terms with each provider before you apply.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 23 March 2026. Confirm current terms with each provider before applying.