Why look for a Novo alternative
Novo may cover the basics of business banking, but founders often start looking elsewhere when financial admin starts spreading across too many tools and manual processes.
Common reasons to consider Novo alternatives include:
- Less manual work across expenses, bills, and reconciliation
- Tighter control over employee spending
- Easier international payments and multi-currency management
- Better connections with accounting, payroll, and other finance tools
- More room to scale financial workflows as the team grows
The right alternative comes down to the specific gap you need to close.
Novo can still be useful for simple digital business banking, but teams often compare alternatives once spend, AP, global payments, or reconciliation become harder to manage manually.
What to look for in a Novo alternative
Once you know what’s missing from your current setup, compare alternatives based on your entire financial workflow. It matters because finance stacks are still surprisingly fragmented. In fact, 61% of finance leaders surveyed by CFO Connect rely on spreadsheets as their primary planning tool, while another 10% have no dedicated system at all.
Look at how each platform handles:
- Account costs: Monthly fees, transaction charges, wire fees, and other costs that affect your total spend
- Cash management: Separate accounts, savings or yield options, and ways to allocate cash by purpose
- Cards and spend controls: Employee and virtual cards, spending limits, merchant controls, and real-time visibility
- Expense management: Receipt capture, reimbursements, approvals, and reconciliation
- Accounts payable: Bill payments, vendor management, approval workflows, and accounts payable management software
- Accounting integrations: Connections with QuickBooks, Xero, and other finance systems
- International transfer capabilities: Multi-currency accounts, FX, and international payments
- Scalability: Tools and controls that keep pace as your team and financial operations become more complex
8 best Novo alternatives compared
Each Novo alternative fits a different financial setup, from global business banking and cash management to corporate cards, expense control, and accounts payable automation.
Here's how they compare at a glance.
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In-depth review: 8 best Novo alternatives
The 8 Novo alternatives take different approaches to business banking, from broader finance management and global payments to cash organization, corporate spending, and AP automation.
Here’s what each platform offers, who it suits, and where it may fit better than Novo.
1. Aspire
Aspire1 is a fintech company that brings banking, cards2, expenses, budgets, and payments into one finance stack. For founders operating across borders, it combines a multi-currency business account*, tools for managing employee spend, and connects financial data with accounting platforms like QuickBooks and Xero.
Key features:
- USD business account with 98+ currencies in total
- Corporate cards2 with unlimited virtual cards, spend limits, and merchant controls
- Native QuickBooks and Xero integrations
- Expense management with receipt capture, reimbursements, and approval workflows
- Team, project, and client-level budgets
Pricing: USD $0 monthly fee, with no minimum balance or initial deposit required for the US business account.
Ideal for: Founders with growing teams, international operations, or finance workflows that extend beyond basic business banking
Why consider it over Novo: Aspire is a stronger fit when you want your business account to connect directly with cards, expenses, budgets, international payments, and accounting workflows. It’s designed as a broader finance stack rather than a standalone account.
2. Mercury
Mercury combines business banking with cards, bill pay, invoicing, expense management, and accounting automation. Its free checking and savings accounts have no monthly or minimum balance fees, while paid plans add more advanced financial workflows. For founders building a tech or digital-first company, it’s an option when banking needs start extending into day-to-day finance operations.
Key features:
- Free checking and savings accounts with no monthly or account-opening fees
- Mercury IO credit card with 1.5% cashback on credit card spend and team spend controls
- Bill Pay with automated bill details, duplicate detection, and multi-layered approvals
- Expense management with reimbursements, receipt policies, and transaction categorisation
- Payments in 40+ currencies with a 1% currency exchange fee
- Direct integrations with QuickBooks Online, Xero, and NetSuite
Pricing: Mercury business banking starts at USD $0/month. Paid plans start at $35/month, with annual billing available at a discount. Some transactions and advanced features carry separate fees.
Ideal for: Tech startups and growing companies that want banking alongside cards, payments, accounting, and finance automation
Why consider it over Novo: Mercury brings banking and day-to-day finance workflows into one platform, so founders can manage bills, employee spending, invoicing, and accounting without relying on as many separate tools.
3. Relay
Relay brings together business banking with cash management, cards, expenses, invoicing, and accounts payable. Its account structure is particularly useful for founders who want to separate cash by purpose, while built-in bill pay and accounting integrations reduce the need to manage these workflows across separate tools.
Key features:
- Up to 20 checking accounts per business on Starter and Grow, and up to 50 on Scale
- Business savings accounts from 1.11% to 3.00% APY, depending on the plan
- Visa debit and credit cards with built-in spend controls
- Bill creation, approval, and payment by ACH, domestic or international wire, and check
- Expense tracking with receipt collection and storage
- Direct integrations with QuickBooks Online and Xero, plus integrations with Gusto, Plaid, and Yodlee
Pricing: Relay’s Starter plan costs USD $0/month. Grow costs USD $30/month, while Scale is currently discounted from USD $120 to USD $90/month. Transaction fees can apply depending on the plan and payment type.
Ideal for: Founders who want to organise cash flow across multiple accounts while keeping banking, expenses, bills, and accounting connected
Why consider it over Novo: Relay is worth considering if your priority is organising cash and financial workflows rather than simply managing a checking account.
4. Bluevine
Bluevine offers business checking with cash management, bill pay, accounts payable, cards, and customer payments. Its strongest differentiator is the ability to earn interest directly on eligible checking balances while separating cash through sub-accounts.
Key features:
- Up to 3.0% APY on eligible checking balances, depending on the plan
- Up to 50 sub-accounts on the Premier plan for separating cash and managing budgets
- Physical and virtual debit cards with spending limits for team members
- Bill pay and accounts payable tools for managing and automating payments
- Invoicing and customer payment tools, including Tap to Pay
- International payments, with the ability to send and receive money globally in as fast as 24 hours
Pricing: The Standard plan has no monthly fee. Plus costs USD $30/month, while Premier costs USD $95/month. Plus and Premier fees can be waived when you meet the applicable balance and card-spend requirements.
Ideal for: Founders who want business banking with stronger cash management and interest-earning checking balances
Why consider it over Novo: Bluevine stands out if earning on operating cash is a priority. Its sub-accounts also give founders a straightforward way to separate funds for expenses such as payroll or taxes while keeping those balances connected to the main checking account.
5. Brex
Brex combines business banking, corporate cards, expense management, bill pay, accounting automation, and travel in one platform. It’s built for startups and larger companies that need tighter control over global spending and more automation across finance operations, rather than a business account alone.
Key features:
- Business account with checking, Treasury, and Vault options, including up to USD $6 million in additional FDIC insurance through program banks for eligible Vault funds
- Corporate cards with spend limits, merchant and category controls, and real-time expense tracking
- AI-powered expense management with automated receipt collection, policy enforcement, approvals, and reimbursements
- AI-powered bill pay for invoice entry, vendor onboarding, approvals, and ACH, check, or wire payments
- Accounting automation with GL coding, expense categorisation, and integrations with ERPs
- Global cards and finance tools available across 210+ countries
Pricing: The Essentials plan is free and includes the Brex business account, corporate cards, bill pay, and core expense management. Premium costs USD $12 per user per month, while Enterprise pricing is customised.
Ideal for: Venture-backed startups and growing companies with significant employee, travel, procurement, and AP spend
Why consider it over Novo: Brex is worth considering when spend management and finance automation matter as much as the business account itself. Its combination of corporate cards, policy controls, expense automation, bill pay, and accounting workflows gives larger or more complex teams a broader finance stack.
6. Lili
Lili integrates business banking with accounting, expense management, invoicing, bill pay, and tax tools. It’s positioned for small businesses that want these workflows on a single platform rather than relying on separate finance software.
Key features:
- Business checking with a Visa debit card and flexible ACH, check, and wire payments
- AI-powered transaction categorization, receipt capture, and financial reporting
- Unlimited invoicing with payment tracking and automated reminders
- Bill management with recurring payments, due-date reminders, and vendor details
- Savings with up to 4.00% APY and up to USD $3 million in FDIC insurance through Lili’s sweep network
- Integrations with QuickBooks, Xero, Gusto, Stripe, Shopify, and other business tools
Pricing: Lili offers 4 plans: Core at USD $0/month, Pro at USD $15/month, Smart at USD $35/month, and Premium at USD $55/month. Paid plans include a 30-day free trial.
Ideal for: Small businesses and founders who want banking, bookkeeping, invoicing, bill pay, and tax workflows in one platform
Why consider it over Novo: Lili is worth considering if you want to combine business banking with deeper accounting and financial administration. Paid plans add expense and tax management, bookkeeping automation, invoicing, and bill management, along with payroll integrations.
7. Found
Found offers business banking with built-in bookkeeping, tax tools, invoicing, expense tracking, and contractor management. It’s designed primarily for small businesses and self-employed founders, particularly those who want to handle tax and bookkeeping tasks alongside their business banking rather than add separate software.
Key features:
- Business checking with no monthly maintenance fee or minimum balance
- Up to 10 physical debit cards and 20 virtual cards for teams, with spending controls
- Pockets for separating and managing cash by business purpose
- Automatic expense categorisation, receipt capture, P&L reports, and tax estimates
- Unlimited invoicing, plus contractor onboarding, payments, and 1099 filing
- Integrations with payment platforms including Stripe, PayPal, and Square
Pricing: Found’s core banking, bookkeeping, tax tools, invoicing, and expense tracking are available at USD $0/month. Found Plus costs USD $35/month or USD $315/year, while Found Pro costs USD $80/month or USD $720/year. Transaction fees can apply to services such as wires, instant transfers, and ATM withdrawals.
Ideal for: Small businesses, self-employed founders, consultants, contractors, and creators who want banking and business administration tools in one platform.
Why consider it over Novo: Found is a strong option if tax tracking and bookkeeping are central to your financial workflow. Its built-in tax estimates, expense tracking, invoicing, contractor management, and bookkeeping tools give founders more administrative support alongside their business checking account.
8. Ramp
Ramp is built around spend and finance automation rather than business banking alone. Its platform combines corporate cards, expense management, accounts payable, accounting automation, and business banking, making it particularly relevant for founders looking to automate a larger share of their finance operations.
Key features:
- Unlimited physical and virtual corporate cards with real-time spend limits, merchant restrictions, and automated policy enforcement
- AI-powered expense management with receipt matching, automated categorisation, and approval workflows
- Accounts payable automation covering invoice capture, approval workflows, payment, and reconciliation
- Business checking with 2% APY, no account fees or minimum balance requirements, and FDIC insurance for eligible funds
- Accounting integrations with QuickBooks Online, Xero, NetSuite, Sage Intacct, Acumatica, and Microsoft Business Central
- Global payments, including payments to vendors in 40+ currencies
Pricing: Ramp’s core card and expense management software is free and includes unlimited cards and users, expense management, bill payments, real-time reporting, and accounting automation. Bill Pay fees vary by payment method, while Ramp Plus adds features like multi-currency support, multi-entity support, and advanced approvals.
Ideal for: Founders who want to automate employee spend, expenses, accounts payable, and accounting alongside their business banking
Why consider it over Novo: Ramp makes the most sense when the priority shifts from simply managing a business account to automating finance operations around it. Its combination of corporate cards, AP automation, expense controls, and accounting integrations gives growing teams a more comprehensive way to manage spend and payables.
Which Novo alternative is best for your use case
Start by identifying the single biggest friction in your current business banking setup to pick the right Novo alternative. For instance:
- If you struggle with international payments, prioritise multi-currency platforms
- If employee spending is hard to control, look for strong card and expense management tools
- If bookkeeping or AP is taking too much time, focus on automation-first finance platforms
Deloitte's Q4 2025 CFO Signals survey found that 50% of CFOs rank digital transformation of finance as their top priority for 2026, while 49% prioritise automating processes to free employees for higher-value work, reflecting how these shifts are already showing up in finance leadership priorities.
Here's how you can approach this decision based on your use case.
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Choose a business account that grows with you
The right Novo alternative fits how you manage money today without creating another overhaul when your financial operations become more complex.
For founders looking beyond a standalone business account, Aspire1 brings key financial workflows together in a single platform, including multi-currency banking*, corporate cards2, expense management, spend controls, budgeting, global payments, and integrations with tools like QuickBooks and Xero.
If your current setup is starting to feel fragmented, it’s worth seeing whether a broader finance stack fits the way you’re building.
FAQs
1. Is Novo a bank?
No. Novo is a fintech platform, not a bank. Its banking services are provided through partner banks, so founders should check the specific bank and applicable FDIC coverage for the account they open.
2. Is Aspire a bank?
No. Aspire is a financial technology company, not a bank. Its US business account is provided through Column N.A., Member FDIC, subject to applicable conditions.
3. Which Novo alternative is best for international payments?
Aspire is a strong choice for international payments, with the ability to send payments in 98+ currencies across 130+ countries. It also combines payments with multi-currency accounts, cards, expenses, and accounting integrations.
4. Which Novo alternative is best for AP automation?
Ramp and Aspire are strong choices for AP automation. Ramp focuses heavily on spend and AP automation, while Aspire combines AP workflows with business banking, corporate cards, expense management, and accounting integrations.
5. Which Novo alternative is best for cash yield?
Bluevine is a strong option if earning interest on business cash is the priority. Its eligible checking balances can earn up to 3.0% APY, depending on the plan and applicable requirements.
6. What is the best alternative to Novo?
The best Novo alternative depends on your needs. Aspire suits global founders needing broader finance management, while Mercury, Relay, Bluevine, Brex, Lili, Found, and Ramp each focus on different banking, cash management, spending, or finance workflows.
7. Is Aspire a good alternative to Novo?
Yes. Aspire combines business banking with corporate cards, expense management, budgets, global payments, spend controls, and accounting integrations. It’s particularly suited to founders who’ve outgrown a standalone business account.
8. Which Novo alternatives offer expense management?
Aspire, Mercury, Relay, Bluevine, Brex, Lili, Found, and Ramp offer expense-related tools. Their capabilities vary, so compare receipt capture, reimbursements, approvals, spend controls, and accounting automation based on your workflow.
9. Are Novo alternatives FDIC insured?
FDIC coverage varies by provider and product. Check whether the specific business account is eligible for pass-through FDIC insurance, which bank provides the deposit services, and the applicable coverage limits before opening an account.
10. Which Novo alternatives integrate with payroll software?
Several alternatives connect with instant payroll solutions. Aspire, Mercury, Relay, and Lili support integrations with payroll or HR tools, including providers such as Gusto. Check each platform’s current integration list before choosing.
11. Can you switch from Novo to another business account?
Yes. Before switching, founders should compare account fees, payment options, card controls, accounting integrations, international capabilities, and any workflows they rely on today. The best Novo alternative should improve the specific gaps that prompted the switch.
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