Found Business Banking vs Novo Business Checking

Found Plus generates Schedule C and 1120/1120-S forms and makes in-app quarterly federal tax payments for Schedule C filers, on top of automatic tax savings as you earn. Novo has AI-assisted bookkeeping and expense categorization but no tax-form generation or in-app filing.

Novo ships unlimited free invoicing built into integrations for Stripe, Shopify, Amazon, Etsy, and WooCommerce, plus Boost, which speeds up Stripe payouts by 2 to 4 business days at no cost. Found's invoicing is unlimited and free but has no equivalent e-commerce payout tooling.

Found Plus pays 1.50% on balances up to $20,000 for a $35 monthly fee. Novo pays no interest on any balance, on any tier.

Found accepts cash deposits for a $2 fee, capped at $4,000 a month. Novo has no cash deposit option at all.

Novo refunds up to $7 a month in third-party ATM fees with no network of its own. Found charges no Found-side ATM fee but has no fee-free network and no refund program.

Novo is genuinely free forever, with no paid tier at all. Found's checking and bookkeeping are free, but the tax automation that is its whole pitch sits behind the $35-a-month Plus plan, which nearly doubled in price in its latest restructure.

Both cap out at the standard $250,000 through a single partner bank, Found through Lead Bank and Novo through Middlesex Federal Savings, with no sweep network on either side.

Is Found Business Banking or Novo Business Checking better?

Pick Found if quarterly taxes are the actual pain point and you will use Schedule C automation and in-app tax payments enough to justify $35 a month. Pick Novo if you invoice clients or sell through Stripe, Shopify, or a marketplace and want faster payouts and e-commerce integrations for free. Neither takes real cash volume seriously, and neither should hold a balance that outgrows the standard $250,000 FDIC cap.

Does Found or Novo charge a monthly fee?

Found Business Banking: $0 (free tier). Novo Business Checking: $0.

Which earns a higher APY, Found or Novo?

Found. Found Plus pays 1.50% on balances up to $20,000 for a $35 monthly fee. Novo pays no interest on any balance, on any tier.

Which is better for tax tools?

Found. Found Plus generates Schedule C and 1120/1120-S forms and makes in-app quarterly federal tax payments for Schedule C filers, on top of automatic tax savings as you earn. Novo has AI-assisted bookkeeping and expense categorization but no tax-form generation or in-app filing.

Is Found or Novo better for freelancers?

It depends on the headache you are solving. Found fits self-employed owners who dread quarterly tax estimates, since Plus generates Schedule C forms and makes the payments in-app. Novo fits invoicing-heavy freelancers and e-commerce sellers who want free Stripe, Shopify, and marketplace integrations plus faster payouts through Boost.

Does Found or Novo pay interest?

Found does, but only on the $35-a-month Plus plan, which pays 1.50% on balances up to $20,000. Novo pays no interest at any balance, on any tier.

Can you deposit cash with Found or Novo?

Only Found, and it costs $2 per deposit with a $4,000 monthly cap. Novo has no cash deposit option at all, so either way a cash-heavy business needs a different primary account.