Novo vs Relay: Fees, features & what's included
Relay splits its business banking features across free and paid tiers. Novo offers businesses one plan with everything included. Feature by feature, fee by fee—see which one's right for your business.
How novo compares to Relay
Less tools, more money in
"I was using personal accounts, sending invoices in Google Docs, and getting paid through PayPal. It felt messy and unprofessional. Now I have a dedicated account, seamless invoicing, and I just download my reports come tax season."
Features
Relay
Monthly fees
$0
$0-$120
Integrations
Built-in Invoicing
Recurring invoices and surcharging on paid plans
Automated Budget Allocation
Auto-split into savings buckets within your one account
Up to 20–50 separate checking accounts, plan-dependent
Faster Payments
Same-day ACH limited on lower tiers; 10 free/month on Scale
Automatic Expense Categorization
Bookkeeping automation on Grow+
Integrated Bookeeping
Business Credit Card Rewards
Up to 2% cashback
1%–1.5% cashback, tiered by plan
ATM Access & Fees
$7/month ATM fee reimbursement
Fee-free at Allpoint ATMs only; fees apply out-of-network
High-Yield APY
1.11%–3.00% APY, tiered by paid plan
Data accurate as of July 2026 based on Relay's published pricing plan.
HOW TO PUT NOVO TO WORK
Our all-in-one dashboard lets you see what's coming in, what's going out, and what needs your attention without digging through spreadsheets.
What other independent business owners are saying
No delays, no friction, no headaches
Novo has completely simplified how I manage my business finances. I can track cash flow in real time, organize expenses, and move money fast. No delays, no friction. It keeps me focused on clients instead of fighting with outdated banking.
Frequently asked questions
Novo has no monthly maintenance fee—the full toolkit is included on one plan. Relay's Starter plan is also $0/month, but its Grow plan runs $30/month and its Scale plan runs $90/month (discounted from $120), and several features, like bookkeeping automation, batch vendor payments, and same-day ACH, are gated behind those paid tiers.
Relay offers APY that scales with your plan, from 1.11% on Starter up to 3.00% on Scale. Getting there costs a monthly fee—$30/month on Grow, and $90/month on Scale (list price $120). Novo does not offer APY on savings, and there is no monthly maintenance fee on Novo's plan.
Novo reimburses out-of-network ATM fees up to $7/month, so you're covered even outside a specific network. Relay is fee-free only within the Allpoint network; outside of it, ATM operator fees apply and aren't reimbursed by Relay.
Yes. Novo's Reserves and Allocation tools let you split your balance into savings buckets—for taxes, payroll, owner's draw, and more—right inside your Novo account. Set it up once, and Novo can move the money for you automatically. Relay takes a different approach: it gives you multiple separate checking accounts, each with its own account number (up to 20 on Starter and Grow, 50 on Scale).
Novo integrates directly with QuickBooks, Xero, and Gusto, covering the accounting tool most small businesses already use. Relay integrates with the same tools, but unlocks their full functionality only on paid plans.
Novo offers two paths to funding, both invite-only and based on eligibility built over time with your account: a merchant cash advance for quick access to working capital, and Novo Business Loans™ up to $25,000. Relay doesn't offer lending directly, though it surfaces partner loan offers (e.g., SoFi, OnDeck) on its Scale plan.
