Novo vs ila Bank.
Novo (N72/100) and ila Bank (i50/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Novo leads ila Bank 6-0.
| i ila Bank №74 · ila Bank is the digital retail brand of Bank of Bahrain and Kuwait 50 /100 | N Novo №28 · FDIC 72 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 51 /100 | 72 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 1.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Payment inst. | Partner-bank FDIC |
| Deposit guarantee Per depositor | Safeguarded BH.DCS | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 3.0 ★ 1k reviews |
| App store iOS + Android avg | 4.2 ★ iOS 4.3 · And 4.1 | 4.7 ★ iOS 4.8 · And 4.5 |
| Read review → | Read review → | |
Pick ila Bank if…
Digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C., Bahrain Bourse: BBK) — one of the GCC's oldest commercial banks (founded 1971). Launched November 2019 as Bahrain's first fully-digital retail bank. CBB Conventional Retail Bank licence sits at the BBK parent; ila is a brand inside that charter, not a separately licensed entity. Bahrain DPS cover BHD 20,000 per depositor flows via the parent licence under CBB Rulebook Volume 6. Conventional banking; for Sharia products from the same group, see KFH Bahrain (separately licensed Islamic bank).
Pick Novo if…
The integration-first US business neobank. Boost is the structural feature: Stripe and Square payouts arrive 1-2 business days earlier than at any competitor, which materially shifts cash-flow timing for e-commerce sellers and agencies invoicing on net-30. The third-party app marketplace (~11+ named integrations including Wise for cross-border) is deeper than Bluevine, Mercury, or Found, and Middlesex Federal Savings has been the continuous sponsor bank since launch — uncommon stability in BaaS. Trade-off: $250K single-bank FDIC ceiling (no sweep), no yield product, and weaker multi-user permissions than Relay.
- Best for fees Novo won 1 of 4
- Best for protection Novo won 2 of 2
- Best for reach Tied
- Best for ux Novo won 2 of 2
Novo vs ila Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is ila Bank better than Novo?
Under our v3 methodology, Novo leads ila Bank 6–0 across 12 dimensions. Composite scores: ila Bank 50/100 vs Novo 72/100. Novo is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is ila Bank or Novo cheaper?
Monthly fee — ila Bank: €0; Novo: €0. Card FX markup — ila Bank: 1.50%; Novo: Interbank. Novo wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, ila Bank or Novo?
ila Bank holds a Payment inst. licence under ila Bank is the digital retail brand of Bank of Bahrain and Kuwait (BBK B.S.C.) — CBB Conventional Retail Bank licence held at the BBK parent. CBB Rulebook Volume 6 Deposit Protection Scheme cover up to BHD 20,000 per depositor per institution; ila and BBK aggregate against one ceiling because they are the same legal entity. Verify the current DPS ceiling on cbb.gov.bh.; deposit guarantee per depositor: Safeguarded. Novo holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. Novo is the stronger pick on regulatory protection.
Where can I use ila Bank and Novo?
ila Bank operates in 1 country; Novo operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
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