Novo vs Relay: Which Is The Top Pick in 2025?

Novo struggles with customer support issues, including slow response times and ineffective chatbots. On the other hand, Relay has faced criticism for unlawfully withholding funds, causing operational harm to businesses.

Rho could offer a more efficient solution by integrating advanced software with banking products, streamlining financial processes for businesses.

Many businesses look to Novo and Relay for their banking needs. However, choosing the right solution can be a complex task.

In this article, we’ll review what each solution offers and how they compare to help you make an informed decision. Additionally, we'll also explore Rho as a third option worth considering.

Novo Overview

Novo provides online business banking solutions tailored for small businesses, freelancers, consultants, and the self-employed. Their main value proposition lies in offering a flexible platform with essential banking tools to help these professionals manage and grow their businesses efficiently.

Novo Features

Some of the key features of Novo include:

Free Checking Account: A checking account with no hidden fees, monthly fees, or required minimum balance.
Easy Invoicing: Create and send unlimited, customizable invoices for free.
Intuitive Budgeting: Automate budgeting and effortlessly set aside funds for taxes, profit, expenses, and more.
Real-Time Insights: Manage your books and stay tax-ready with AI-powered transaction categorization and comprehensive financial reporting.

Novo Pricing

Novo offers a straightforward pricing structure without subscription tiers or packages.

Free Checking Account: No hidden fees, monthly fees, or required minimum balance.
Invoicing: Unlimited, customizable invoices for free.
Budgeting Tools: Automated budgeting and fund allocation.

The prices for each tier are not publicly listed.

Drawbacks To Novo

General user reviews of Novo are mixed, with a rating of 3.5 out of 5 stars. Users appreciate the platform's features but often criticize customer support and payment delays.

"The thing that I enjoyed most about Novo was how many features it has in comparison to a traditional brick and mortar bank." - Ken A.
"Poor customer support and delays in payments have been a constant issue for us." - Amanda S.

For more details, visit the Novo Reviews on G2.

Relay Overview

Relay is an online business banking platform designed for small business owners, accountants, bookkeepers, CEOs, real estate investors, e-commerce businesses, and agencies. Its main value proposition is providing complete control over earnings, spending, and savings, which helps make cash flow management clearer and more efficient.

Relay Features

Some of the key features of Relay include:

Business Checking: Know precisely what you’re earning, spending, and saving.
Expense Management: Capture receipts, categorize expenses, and close your month-end faster.
Accounts Payable: Review, approve, and pay bills within business banking.
Integrations: Seamlessly sync with QuickBooks Online, Xero, Gusto, Plaid, and Yodlee.

Relay Pricing

Relay offers both free and paid subscription tiers, with detailed pricing available on their website.

Relay: $0/month - No account fees, up to 20 checking accounts, and ATM access.
Relay Pro: Starting at $30/business/month - Includes faster ACH, free domestic wires, and bill payment features.
Relay for Accountants & Bookkeepers: $0/month - No account fees, up to 20 checking accounts, and 50 debit cards.
Relay Pro for Accountants & Bookkeepers: Starting at $30/client/month - Includes faster ACH, free wires, and bill payment features.

Drawbacks To Relay

The overall consensus from the reviews is generally positive, with many customers praising Relay Financial for its user-friendly interface and excellent customer service. However, some users have raised concerns about ACH timelines and currency conversion.

"Relay is the real deal. I was skeptical that an internet bank could be this helpful and useful, but they are for real." - Cecelia Wren
"Not trustworthy, ACH timelines are a mess, customer service is great (during business hours) but the banking which is the core product is questionable for the following reasons - You need pro to use this bank account - ACH timelines do not get met - Currency Conversion is probably not good enough." - S Menon

For more details, visit the Relay Financial Reviews on Trustpilot.

What to Know Before Picking Novo or Relay

Looking at the reviews as a whole, businesses using Novo often face delays in payment processing and issues with customer support. These problems can lead to operational inefficiencies, especially when timely transactions are crucial.

Similarly, Relay users report challenges with ACH timelines and currency conversion. Delays in international wire transfers and occasional unresponsiveness from customer service can disrupt cash flow management, making it difficult for businesses to operate smoothly.

Why Rho Is a Better Alternative

At Rho, we understand the frustrations businesses face with payment delays and customer support issues. Our platform is designed to provide seamless transactions and responsive support, ensuring smooth cash flow management. By addressing these common pain points, we offer a more reliable and efficient banking solution for your business needs.

Rho Features

Rho Platinum: Our Rho Platinum card offers up to 2% cashback¹ on all purchases, helping businesses save money on everyday transactions, a feature not commonly found with Novo and Relay.
Expense Management: We eliminate the hassle of manual expense reports by capturing every receipt automatically, ensuring compliance and reducing administrative workload.
AP Automation: Our platform allows you to pay hundreds of vendors in minutes with zero platform fees, streamlining your accounts payable process and saving you time and money.
Rho Treasury: We safeguard your idle cash and offer dynamic yield rates, maximizing returns on your funds, unlike the static interest rates typically offered by Novo and Relay.
Seamless Integrations: Our direct integration with accounting, HR, and T&E software enhances operational efficiency, making it easier to manage your finances in one place.
Private Banking Support: We provide 24/7 private banking support, ensuring that any issues are promptly addressed, which is crucial for maintaining smooth business operations.

Rho Pricing

We offer a straightforward and transparent pricing structure that sets us apart from Novo and Relay. Our goal is to make it easy for businesses to understand their costs without any hidden fees or complicated tiers.

Here are the key pricing line items:

$0 Same-Day ACH fees: No charges for processing same-day ACH transactions.
$0 Wire fees: No charges for wire transfers, with some exceptions for international wires.
$0 Monthly plans: No monthly subscription fees for accessing our services.
$0 Support fees: Free live support from day one without any additional charges.
$0 Subscription fees: No subscription fees for using our platform.
$0 Checking account minimum fees: No minimum balance fees for checking accounts.
$0 Connected, in-platform capabilities: Free access to AP, Expense, and Accounting Automation features.
$0 Per-user fees: No charges per user for accessing the platform.
1% Foreign currency transfer: A flat 1% fee on foreign currency transfers.

You can find all the details about our pricing here.

Why Users Love Rho

We’re proud of what we do, but we think our customers say it best. Take a look at why they prefer Rho over other options.

"Rho is everything a corporate card program should be - And it's free to the users and employers!" - Tyler M., Chief Financial Officer, Small-Business
"From day one, using Rho has been simple and straightforward." - Kevin K., Director of Marketing and Analytics, Mid-Market
"Modern, flexible, tech-centric user experience on traditional credit card services" - Pete S., Mid-Market

Want a firsthand look at Rho? You can request a free demo here.

Which Platform Is Right for Your Business?

Each platform—Novo, Relay, and Rho—has its strengths, catering to different business needs. Novo offers essential banking tools for small businesses, while Relay excels in cash flow management and integrations. However, both have limitations in customer support and transaction delays.

This is where Rho comes in. We provide seamless transactions, 24/7 private banking support, and up to 2% cashback¹ on purchases. Our AP automation and dynamic yield rates further enhance operational efficiency, making Rho a superior choice for businesses seeking reliability and growth.

Make the Smarter Choice with Rho Today

Curious to see what Rho can do for you? Discover how our platform can transform your business operations. Get started with Rho today.

Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party. Products and services offered through the Rho platform are subject to approval.

The Rho Corporate Cards are issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard, subject to approval.

Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. Rho Treasury investments are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, are not FDIC insured, are not guaranteed and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Treasury and custodial services provided through Apex Clearing Corp. and Interactive Brokers LLC, registered broker dealers and members FINRA/SIPC.

¹Up to 2% cashback; terms and conditions apply. See eligibility and complete Rho Cashback Rewards Program terms and conditions here.

This content is for informational purposes only. It doesn’t necessarily reflect the views of Rho and should not be construed as legal, tax, benefits, financial, accounting, or other advice. If you need specific advice for your business, please consult with an expert, as rules and regulations change regularly.