Novo vs Memo Bank.
Novo (N72/100) and Memo Bank (M56/100), 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 Memo Bank 5-1.
| M Memo Bank №59 · ACPR 56 /100 | N Novo №28 · FDIC 72 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 56 /100 | 72 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €449 /mo | €0 Free tier |
| FX markup Debit card abroad | 0.50% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | E-money inst. ACPR | Partner-bank FDIC |
| Deposit guarantee Per depositor | Safeguarded EU.DGS.FR | $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 | 4.6 ★ 0k reviews | 3.0 ★ 1k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.7 ★ iOS 4.8 · And 4.5 |
| Read review → | Read review → | |
Pick Memo Bank if…
The French mid-market SME bank that fills the structural gap between Qonto (freelancer-and-SME-led, ACPR credit institution) and chartered legacy banks (BNP Paribas Business, Société Générale Business). Full ACPR credit-institution licence with DGS protection. Mid-market SME tier (€1M-100M revenue) is the target audience; API-first treasury + Pennylane integration is the SMB-tech moat.
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 2 of 4
- Best for protection Novo won 1 of 2
- Best for reach Tied
- Best for ux Tied
Novo vs Memo Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Memo Bank better than Novo?
Under our v3 methodology, Novo leads Memo Bank 5–1 across 12 dimensions. Composite scores: Memo Bank 56/100 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 Memo Bank or Novo cheaper?
Monthly fee — Memo Bank: €449; Novo: €0. Card FX markup — Memo Bank: 0.50%; Novo: Interbank. Novo wins more fee rows (2 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Memo Bank or Novo?
Memo Bank holds a E-money inst. licence under ACPR; 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 Memo Bank and Novo?
Memo 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.
Want a 3- or 4-way comparison?
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