Complaints

This profile includes complaints for Novo Platform Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

close

Find a Location

Novo Platform Inc. has 4 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  Novo Platform Inc.

  78 SW 7th St Fl 9 Miami, FL 33130-3402

• 

  Novo Platform Inc.

  43 W 23rd St Fl 6 New York, NY 10010

• 

  Novo Platform Inc.

  222 Broadway Fl 20 New York, NY 10038-2510

• 

  Novo Platform Inc.

  222 Broadway Fl 20 New York, NY 10038-2510

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:12/21/2024

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  ********* closed our account for no reason. we had balance for 2000usd approxinmately. they were supposed to send check but no check received till dateOur account was closed on october, till date no check received

  Business Response

  Date: 01/08/2025

  On September 18, 2024, you contacted Novo about an account freeze and issues moving money. At that time, we informed you that your account was under review by our Accounts Team and that updates would be provided once the review was complete.
  On September 19, 2024, you followed up again and Novo confirmed the account was still under review.
  On September 29, 2024, you requested an update and someone to speak with regarding your concerns. Novo informed you that the review was ongoing and that updates would follow.
  On October 4, 2024, after the review, your account was closed, and a check for $2,570.90 was issued to the business address on file.
  On December 21, 2024, you reported that you had not received the check.
  Our Customer Support agent reached out to you on January 6, 2025, at 10:15 AM. Please respond to their message, and our team will assist with coordinating the re-issuance of your check. We apologize for the inconvenience and appreciate your patience as we work to resolve this promptly.
  If you have further questions, please contact Novo Support for assistance.
  

  Customer Answer

  Date: 01/27/2025

  not yet received the check as on date. please send tracking number. we have not received check till now

  Customer Answer

  Date: 02/03/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ******* *********

• Initial Complaint

  Date:12/20/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Novo did exactly what everyone else here said. ,They froze my account without warning stated it's a security freeze. then they are investigating and **** release your money. They have now closed my account and supposedly sent a check. in the mean time I had to go take a small loan to keep my business afloat while they screwed around. this is the worst bank to ever do business with get your money out now. Would love for them to reimburse the interest charges i have accrued borrowing money to keep my business afloat but they are scammers who wont do that and just will refer to their business terms stating they can shut down and freeze an account when they feel like it. Im an ****** business with nothing shady going on so this can truly happen to anyone.

  Business Response

  Date: 01/10/2025

  Hi ******,
  On November 26, 2024, you contacted our support team to inquire about the reason you were not able to transact on the account. Our Support team informed you that the account was frozen due to an ongoing review by our Accounts team. During this review, no transactions are permitted, and unfortunately, we could not provide specifics about the decision to freeze the account.
  You continued to reach out to inquire about the status between November 27 - December 10, 2024, when the account was still under review by our Accounts team. 
  Following the conclusion of the assessment on December 18, 2024, our Accounts team determined it was necessary to close the account. As delineated in Novo's Terms of Use Agreement, specifically in section 22, and in the "Amendments and Termination" segment of the Business Deposit Account Agreement, we maintain the right, at our sole discretion, to terminate our contractual arrangement with an account holder, along with access to our services. This decision may be made for any rationale, and it holds regardless of whether notice is provided to the account holder. Refer to section 22 in ***********************************************; and ****************************.
  The closeout check for the remaining account balance of $4,938.63 was sent to the business address we have on file and is expected to be received within ***** days.
  Novo performs account reviews to ensure that account activity aligns with our service terms. The intent of this review is not to disrupt business operations but to ensure that our products and services are being used within the confines of Novos legal agreements, including the Business Deposit Account Agreement.
  If you have any further questions or concerns, please contact our support team.
  

  Customer Answer

  Date: 01/21/2025

   
  Complaint: 22714778
  
  I am rejecting this response because:

  this is absolutely garbage business tactics. You cant provide a reason why youd shut down a ****** businesss account. Youre a garbage company and Ill make sure everyone knows
  
  Sincerely,
  
  ****** ******

  Business Response

  Date: 01/24/2025

  Hi ******, 
  We understand your frustration regarding the status of your account. However, we cannot provide further information and are aligned to our business account agreement. We see that the check was negotiated on January 2, 2025. If you have any further questions, please contact our support team at **********************
  
  

• Initial Complaint

  Date:12/18/2024

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had an account with this company but it got closed in August. They issued a close-out check in September and I have been trying to cash this check but I have been unsuccessful. I recently deposited their check in ********** my new business bank account but it was put on hold pending when *********** can speak to Novo to verify the check. I have emailed Novo daily for the past 3 weeks requesting a phone number to provide to ********** to complete the verification but they've refuse to respond to my emails with the needed information.

  Business Response

  Date: 01/23/2025

  Hi ********, 

  
  On December 4, 2024 you contacted our support team to inquire about a phone number that can be leveraged for verification of an official check issued for the balance of your closed Novo business checking account. You noted that this was requested from the financial institution that services your new business account. While our customer support team responded with the phone number and operating hours within the same day, it was later noted that the phone number is only intended to be used by active Novo customers and messages can be sent to **********************. 
  While we understand the frustration you have experienced in receiving and attempting to negotiate this official check, please note that the funds of the official check issued for the closure of your account is guaranteed within the expiry period of the check. 

  
  On December 30, 2024, we identified that the official check issued for the balance of your closed account was endorsed for deposit only to a specified account number and negotiated by the financial institution in which you noted required verification. Although you requested to reissue the closeout check, we are unable to reissue a check that was already processed. We highly recommend that you reach out to the financial institution that negotiated the check for further clarification. 

  
  If you have questions or require further assistance based on additional information you receive, please do not hesitate to contact our support team through **********************. 
  

  
  

  Customer Answer

  Date: 01/24/2025

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ******** ********

• Initial Complaint

  Date:12/10/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My card info got stolen, and I had two charges (one for ****** and one for ****** )that were fraud put on the card. on 11/24 24 I finally got someone on the phone who told me that they would refund me the money and it would take 7-10 business days to go back into my account and they would send me a new card. Two weeks later no refund. On 12/12/24 I called again and the *** said that because I had used the merchant before that I would have to submit a dispute and it would take 120 days to get my money back. They told me to reach out to the merchant which I did but they said I needed the account to make a claim which I don't have because I didn't make the charges.

  Business Response

  Date: 12/20/2024

  On November 24, 2024, the customer contacted our support team to report two unauthorized transactions, one for $294.00 and another for $190.02, both occurring on the same day. In response, our team immediately deactivated the card and issued a replacement, which was set to arrive within 15 days. We advised the customer to contact the merchant directly for a quicker resolution and shared a link to our FAQ on disputing transactions in case the merchant did not address their request: FAQ - **************************************************************************************************. Please note that in reference to the 7-10 business days communication, that this is the typical timeframe that a refund will be received if processed by the merchant, not through a credit provided by Novo.
  
  On December 10, 2024, the customer informed us that the merchant did not respond. Consequently, disputes for both transactions were filed. We explained that the investigation could take up to 120 days, though we aim to resolve cases sooner. Updates would be provided via email throughout the process, and our team would reach out if additional information was needed.
  
  We are following the chargeback process and timeline of the card network provider, which involves the merchant, bank card processor and network provider. Within the stages of a chargeback process, time is allotted for each party to challenge the decision for actioning the dispute, which accounts for the ******* timeframe.
  
  We understand how important it is to have this matter resolved promptly and will provide an update as soon as we receive a decision. We advise the customer to wait for the final resolution of the investigation.
  
  If the customer has further questions or needs additional assistance, they may contact our support team.
  

• Initial Complaint

  Date:12/07/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Hello, there is a very serious matter that I need to escalate with Novo, in regards to some unauthorized transactions (5 transactions at 7/11 for $203.50 each; total of $1,017.50) that were posted to my account on October 18 that I never received credit back for, so almost 2 months ago. Not long after I saw the transactions on my account, I had opened a support ticket with Novo to notify them of the unauthorized transactions, and how I had lost my wallet with my PIN inside on a piece of paper, to which I was told that they were processing my dispute and would continue to give me updates. I then received further correspondence from Novo requesting a copy of a police report from me, to which I provided. Fast forward, and im still without recourse, I still haven't received the credit back to my account. Novo replaced my card, and sent me a new one, which I appreciate, but it still doesn't resolve the issue of the money missing from my account that I never received back. Need someone to make this right and rectify the situation

  Business Response

  Date: 12/17/2024

  On October 20, 2024, you reported five unauthorized transactions, totaling $1,017.50, that were posted on October 18, 2024, following the theft of your wallet containing your Novo debit card and PIN. We promptly deactivated the stolen card, issued a replacement card, and initiated the dispute process for the transactions. We informed you that the investigation could take up to 120 days, though we aim to resolve it sooner, and assured you that updates would be shared via email during this period.
  
  On October 28, 2024, our accounts team requested an executed police report to proceed with the investigation. We received the required document from you on November 24, 2024. The next day, November 25, you requested a provisional credit for the disputed amount. While we are unable to provide provisional credit, we reassured you that updates would be shared as soon as they become available and confirmed that the dispute remained within the designated investigation period.
  We are following the chargeback process and timeline of the card network provider, which involves the merchant, bank card processor and network provider. Within the stages of a chargeback process, time is allotted for each party to challenge the decision for actioning the dispute, which accounts for the ******* timeframe.
  
  On December 7, 2024, you inquired about the status of the dispute. At that time, the investigation was still ongoing, and we reiterated that the 120-day timeline was in place.
  
  We understand how important it is to have this matter resolved promptly and will continue to prioritize your case. We advised you to wait for the final resolution of the investigation.
  
  Please reach out to our support team if you have any further questions or require additional assistance.

• Initial Complaint

  Date:12/02/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I wired money to ************************* on 11/7/24 for a person named ***** ******. The money was received by *********. From what I understand, ***** ****** goes through *********. She claims they didnt receive the funds and **** wont give me any information. She now doesnt respond to phone or text messages. I want my money returned. I had to take out a loan on my car and on my RV to get this money and it is now an urgent situation and I need help please.

  Business Response

  Date: 12/17/2024

  On November 13 you informed us that the transfer initiated on November 5 from your bank was confirmed as sent, but the recipient claimed they had not received it. We advised that we would need authorization from our account holder to share any account-related details with you.
  
  On November 20, we recommended contacting your bank to request a Letter of Indemnity (***) to assist with a potential recall of funds, which is a standard banking procedure. As of now, we are still waiting to receive the *** from your Bank to proceed further.
  
  A ***, or a hold harmless agreement is a request sent from the ******************************** Institution (****) to the ****************************** Institution (RDFI) requesting a return of funds for an Automated Clearing House (ACH) transaction resulting from fraud or error. To comply, an **** may return funds via ACH (full payment) or check (partial payment) if funds are available, or inform the **** that the account is closed or has insufficient funds.
  
  We understand the frustration this situation may cause and assure you that we are committed to assisting within the limits of our procedures. We recommend following up with your bank to ensure the *** is submitted promptly. Please let us know if you have any further questions or concerns.

  Customer Answer

  Date: 01/01/2025

   
  Complaint: 22609744
  
  I am rejecting this response because:
  
  Sincerely,
  
  ****** *******

  Customer Answer

  Date: 01/02/2025

  An LOI from my insurance company is not acceptable. They have nothing to do with this. 
  My bank attempted to get my money back.  However, since the money was received by the recipient, my bank could not get it back.   ***** ****** has my money. 
  If you are unable to help me, I will turn this over to the police. 
  I look forward to hearing from you. 

  Business Response

  Date: 01/23/2025

  Further to our communication dated December 17, 2024, we would like to remind you that as of January 22, 2025, we are still awaiting receipt of the Letter of Indemnity (***) from your bank to proceed with the necessary steps.

  
  An **** also referred to as a hold harmless agreement, is typically submitted by the ******************************** Institution (****) to the ****************************** Institution (****). This request facilitates the return of funds related to an Automated Clearing House (ACH) transaction that may have been affected by fraud or error. Upon receiving the **** the **** may process a return of funds either via ACH (for the full amount) or by check (for a partial amount), provided the funds are available. Alternatively, the **** may inform the **** if the account is closed or has insufficient funds.

  
  We recommend following up with your bank promptly to ensure the *** is submitted without further delay. Should you have any additional questions or concerns, please do not hesitate to reach out to us.
  

  
  

  Customer Answer

  Date: 01/24/2025

  I promptly contacted my bank.  My bank says they do not issue **** but that the *** should have to come from the recipients bank.  As I have stated previously, the recipient, ***** ******, received the money. She should be made to return the funds to my account.  She will not answer or return phone calls. She has committed a criminal act. I demand the money be returned to my account or I will get the police involved!

  Customer Answer

  Date: 01/24/2025

  I promptly contacted my bank.  My bank says they do not issue **** but that the *** should have to come from the recipients bank.  As I have stated previously, the recipient, ***** ******, received the money. She should be made to return the funds to my account.  She will not answer or return phone calls. She has committed a criminal act. I demand the money be returned to my account or I will get the police involved!

  Customer Answer

  Date: 01/24/2025

  I promptly contacted my bank.  My bank says they do not issue **** but that the *** should have to come from the recipients bank.  As I have stated previously, the recipient, ***** ******, received the money. She should be made to return the funds to my account.  She will not answer or return phone calls. She has committed a criminal act. I demand the money be returned to my account or I will get the police involved!

  Business Response

  Date: 01/29/2025

  Hi,

  Thank you for reaching out to us.

  As the funds were authorized and sent from your bank, it is necessary for them to submit a Letter of Indemnity (LOI) in order for us to proceed with any further action. Unfortunately, without the **** we are unable to assist you further, as we cannot release any information or funds without the required documentation.

  If you require additional assistance, we recommend reaching out to law enforcement agencies to explore further options.

  Thank you
  

  
  

• Initial Complaint

  Date:11/28/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I HAD ONE TRANSACTION THAT I DISPUTED BECAUSE I DIDN'T GET THE SERVICE OF. I CONTACTED THE MERCHANT THEY SAID TO FILE THE DISPUTE FROM THE BANK. I DID AND SUBMITTED WHATEVER I HAD. THIS BANK I DON'T KNOW WHEN THE INVESTIGATED IT OR NOT BUT MY CASE GOT CLOSED AND I NEVER GOT MY MONEY OR THE BANK RESPONSE REGARDING THE DISPUTE. WHEN I CALLED THE BANK TO CHECK THE STATUS THEY SAID ITS BEEN CLOSED AND I HAD TO RESOLVE IT WITH THE MERCHANT. WHEN I REACH BACK TO MERCHANT MERCHANT HAS NO ANSWER AND KEEP TELLING ME TO GO TO MY BANK. **** DID NOT HELP ME APPEAL OR PROVIDED ME ANY INFORMATION REGARDING WHY IT WAS CLOSED. THE BANK DIDNT HELP ME THE MERCHANT DIDNT HELP AND THE TECEPTANT GOT THE FREE MONEY. THANKS TO THESE LOW Q BANKS TO HELP SCAMMING THEIR CLIENTS WITH THEIR LOW SECURITY SYSTEM

  Business Response

  Date: 12/12/2024

  On August 22, 2024, the customer initiated a dispute request for a $1,015.00 transaction that occurred on August 18, 2024, with a third-party payment platform. Our team informed the customer that we would contact them if additional information was required and that the customer would receive updates on the dispute process via email within 10 business days. 
  On August 30, 2024, our dispute team requested further details about the transaction from the customer. After receiving the customers response, the dispute was formally filed with the card processor on September 2, 2024, and this was communicated to the customer.
  We are following the chargeback process of the card network provider, which involves the merchant (third-party payment platform), bank card processor, and network provider. Within the stages of a chargeback process, time is allotted for each party to challenge the decision for actioning the dispute. On November 1, 2024, the card processor concluded its investigation and rejected the dispute.
  On November 12, 2024, the customer requested to appeal the decision. Our support team explained that the dispute was declined by the card processor because the third party payment platform sent sufficient evidence during the investigation, which prevented the dispute from proceeding further. Please note that the dispute was filed with the third-party payment platform that processed the transfer of funds between you and the service provider. The relative Novo transacting parties do not include the service provider that received funds through the third-party payment platform. 
  Considering the evidence provided, the third-party payment platform referred to section 8 of their terms and conditions in which the card member agrees that the payment platform is only responsible for processing the payment. Since funds were allocated correctly, the payment platform has provided the service in full and is not responsible for the disagreement between the two parties using the payment platform.
  On November 27, 2024, the customer contacted us again to request reconsideration. Our team reiterated that all possible avenues to recover the funds from the merchant had been explored and, unfortunately, the dispute decision is final.
  We understand the frustration caused by the dispute decision not going in the customers favor. We recommend contacting the service provider directly to resolve this issue. If this approach does not yield the results you are looking for, pursuing the matter through law enforcement might be the best course of action.
  
  

  Customer Answer

  Date: 12/12/2024

   
  Complaint: 22616570
  
  I am rejecting this response because: first of all i did not sign any contract of section 8 with any of the party. there was no contract that was signed between us. secondly, i was suggested to reach out to merchant after my dispute was not accepted. i have attached proof and i have more evidence stating that merchant did not help the bank or my end. the merchant cleraly told me that i have filed the dispute with the bank so they are the only one who can help me recover my funds. i have reached out to the reciptant. he told me that the merhcant helped him won the dispute but never credited him the money. so neithere i have my money or the recptant has the money and there is or was no service provided to me by the merchant or reciptant. this is very unfair and i have never got into this situation before. i am still not happy with the dipsute especially i was not given the right to appeal my dispute. and i do want my right to appeal. so i can share more evidence regarding my transaction to recover my funds.

   

  i request to either give me my right to appeal or get my money recover, because the merchant is not helping in any way. i regret to use that merchant and i will not be using that merchant. 
  
  Sincerely,
  
  **** ******

  Business Response

  Date: 12/20/2024

  We would like to reiterate that all possible avenues to recover the funds from the merchant had been explored and, unfortunately, the dispute decision is final.
  
  The terms and conditions we mentioned in our earlier response are between the customer and the third-party payment provider and we have no details or control over that. We request the customer reach out to the third-party payment provider for more details on their agreement.
  
  As recommended earlier, the customer should contact the merchant directly to track the refund payment along with their bank.

  Customer Answer

  Date: 12/20/2024

   
  Complaint: 22616570
  
  I am rejecting this response because: the merchant is telling me the same thing to reach out to my bank financial institution to recover my funds because the merchant has no authority and you are telling me to reach out to merchant to recover my funds. It make so sense to me. I never delt any situation with banks before. I request get me a solution to who I have to reach to get my funds because you guys are not helping me 
  
  Sincerely,
  
  **** ******

• Initial Complaint

  Date:11/26/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I've been having issue with Novo freezing my banking account using various reasons that don't make sense and taking no initiative to give be back my access. This has happened twice now, 2 days ago Novo sent a message that my account was being frozen after my business partner used his card for $6 at a store we shop at regularly. There has since been no communication from Novo on how they plan to unlock the account. When I called them and finally reached a *** yesterday she said there is no freeze on the account and it was a fraud alert. I literally read the alert message to her, it had nothing to do with fraud and she said the issue was with my business parter's card, not the account. Then she put me on hold and the call "disconnected" and she sent a message she would get back to me later. After that conversation I tried to use my card which, which is the same account, and it declined due to "overdraft" however there is nearly $1000 in the account and and the declined charge was for $20. Something sketchy is going on with this "bank", they keep removing our access to our account over nonsense and have no urgency in reinstalling it. As I type this the account is still frozen and there has been no response from them on how they are going to fix this issue.

  Business Response

  Date: 12/09/2024

  On November 4, 2024, the customer inquired about the account being frozen since the previous day and asked when it would be unlocked. Our support team confirmed on November 5, 2024, that the account was never frozen. Instead, the freeze was applied to the card due to a flagged risky transaction. The card was reactivated for the customers use on November 5, 2024.
  
  On November 25, 2024, the customer reported that the card was declined for a transaction with a merchant, and the account was frozen. Our support agent confirmed that the freeze was placed on the card as a security measure due to a risky transaction alert. A Two-Factor Authentication (2FA) prompt was sent to the Novo app for approval. However, the customer informed our support team that she did not receive the 2FA notification and only received a message stating that the account was frozen.
  
  To address this, our support team escalated the issue to review why the 2FA notification was not received and to investigate any potential triggers causing transaction declines. However, the security alert on the card was cleared, and the card was unfrozen for use on the same day.
  Please note that there are security controls that monitor unusual transaction activity that are implemented to ensure the safety of our customers accounts. This is why the customer received requests to approve transactions. At Novo, the security of our customer accounts is critical for ensuring that we can provide the highest quality of our offerings. However, it is not our intention to create roadblocks for executing transactions for the business. Please be aware that customers are subject to receiving transaction approval request notifications in the app as part of our security measures to identify and prevent unauthorized transactions.
  
  On November 27, 2024, following the resolution, we observed successful transactions using the debit card. On December 3, 2024, our support team confirmed confirmed that the issue was fully resolved.
  
  We sincerely apologize for any inconvenience caused during these instances. Your feedback about the missing 2FA notification has been noted, and we are reviewing our processes to prevent similar occurrences in the future.
  
  Should you have further concerns or questions, please feel free to reach out.

• Initial Complaint

  Date:11/23/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 11/12/24 I had 2 deposits 1 for $150.34 & the other for $391.50 totals to $541.84. 1 from Cash app & the other from ****. I called to make a payment with ***** for $491.00 this same day. The payment went through just fine as it has previously no issues & confirmed with ***** customer service because deposits were made. This is nothing new from my previous transactions. I then transferred the remaining $50.00 to cash app. Then suddenly I am showing a -$369.00 on my account as if the transaction didn't go through. On 11/17/24 Hertz refunded me $101.98 because I was overcharged. This should be a positive balance of $101.98 but instead none of my deposits have processed & NOVO is taking my deposits. I stopped all deposits and use Bluevine which I never have issues with & I can call to speak to someone. Now on 11/22/24 my account is -$1,369.67 with no transactions made because my card is frozen and all are declined. I will not deposit any more funds into **** until my deposits & refunds are giving back to my account. I have seen the trend here on BBB how NOVO is all of a sudden reporting peoples accounts as violating terms and closing their accounts. If this happens to my account I will be taking this up outside of NOVO to resolve. There is a $5.47 deposit that hasnt posted since 11/13/24. I have contacted support via email since 11/14/24 & been going around in circles with emails and still have not been helped.

  Business Response

  Date: 12/03/2024

  On November 14, 2024, the customer contacted our support team using an email address not associated with the account. Following our account safety guidelines, we advised reaching out from the email associated with the account. Despite several attempts, the conversation from the associated email ID was not received.
  
  On November 22, 2024, our team initiated a conversation on the customers registered email and requested more details about the issue which we did not receive.
  
  On November 25, 2024, after investigating further, our support team explained that the negative balance was caused by transactions posted from the same merchant in the amounts of $1,032.70, $389.02, and $445.64. Since the customer claimed these transactions as unauthorized, our support team advised the customer to reach out to the merchant to resolve the matter quickly. Also, the support team shared the *** as guiding steps to file for disputes through the Novo app and informed that the dispute resolution process can take up to 120 days from receiving the disputes.
  
  Regarding your query about the account balance, please be aware that on November 12, 2024, deposits of $150.34 and $391.50 increased the account balance to $543.22. On November 13, 2024, a successful deposit of $5.47 (that the customer claimed in the complaint as not deposited into the account) raised the balance to $548.69, followed by a subsequent withdrawal of $51.00 resulting in an updated balance of $497.69. Later that day, a transaction for $445.64 was settled, reducing the balance to $52.05. On November 16 and November 22, 2024, additional transactions of $389.02 and $1,032.70 were settled with the merchant, resulting in a final balance of negative $1,369.67. Please note that there were holds on your account for all three of the posted transactions from the same merchant, which were placed on October 14 and November 13, 2024. However, two of these transactions exceeded the original amount that was on hold.
  
  We advise the customer to contact the merchant directly to expedite the resolution process before filing for the dispute through the Novo application. If the matter is left unresolved, please file a dispute following the instructions of the *** provided by our Support team - ************************************************************************************************** .Novo has not taken any deposits from this customer and has processed the transactions aligned to the amount charged by the merchant. If the customer requires further assistance with the dispute process or any other concerns, please contact our support team.

  Customer Answer

  Date: 12/05/2024

   
  Complaint: 22596002
  
  Good Day - My initial complaint to you all was November 14. No one ever responded to me about anything in regards to my account until I filed with the BBB. It was constant back & forth ( I have every single email) to confirm and validate. There was never any communication verbally or via email in regards to Novos claim on the 25th of November in this complaint. No one has ever responded to my complaint there was only back and forth of Novo pretending to not recieve my emails. The false claims is damaging on Novos behalf. All of the transactions show Declined except one that went through 12/5/24 as of $271.00 and my card is still locked so no transactions went through prior to 12/5/24. I have never dealt with the amount of unprofessionalism lack of support from a bank.

  I have downloaded all of my statements and there is not one charge that isnt declined except the $217.25 that added to the already negative balance. These statements are false and does not represent the actual transactions. If transactions are declined why is there a negative balance? This is not settling bank account statements ethically and according to accounting principles. The company has not been paid because the transactions are declined. NOVO has stolen money from my account and fraudulently & caused my account to be negative with no payments to any merchants from Nov 13 - December 12 & has yet to advise what merchants in their response? 

   

  I request a complete detailed response. I tried to add files to this response however the BBB system is not working properly to allow it. 

  
  Sincerely,
  
  ****** ******

  Business Response

  Date: 12/17/2024

  Our team requested the customer to reach out through the email linked with the Novo account for further assistance when the customer initially reached out on November 14, 2024, through an unassociated email ID. Failing this, our support team initiated the conversation with the customer on a linked email related to the Novo account on November 22, 2024.
  
  We would like to reiterate that Novo has not taken any deposits from this customer and has processed the transactions aligned to the amount charged by the merchant. Please note that the withdrawals referenced in our previous response are posted transactions that are clearly reflected in your statement on November 13, 14, 16 and 22. Also note that holds on your account will not be reflected in your statement as they are not settled transactions. As the customer believes these charges are not authorized, we recommend the customer file a dispute following the instructions of the *** - **************************************************************************************************
  
  If the customer requires further assistance with the dispute process or any other concerns, please contact our support team.
  

• Initial Complaint

  Date:11/12/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They had my account under review for more than a month. No one had emailed me. Call me for an update. They keep saying they cannot give me a status.

  Business Response

  Date: 11/25/2024

  On October 23, 2024, the customer contacted our support team to inquire about the account's freeze status. Our Support Team informed the customer that the account was frozen due to an ongoing review by our Accounts Team. During this review, no transactions are permitted, and unfortunately, we could not provide specifics about the decision to freeze the account.
  The customer continued to reach out to inquire about the status between October 28 - November 13, 2024, when the account was still under review by our Accounts team. 
  During the follow-up, the customer also inquired about the status of the $740 check. Since the account was frozen our support team could not share any details. Please note that the check was successfully accepted and the funds were made available to the account making the total balance $755.09.
  Following the conclusion of the assessment on November 18, 2024, our Accounts determined it was necessary to close the customers account. As delineated in Novo's Terms of Use Agreement, specifically in section 22, and in the "Amendments and Termination" segment of the Business Deposit Account Agreement, we maintain the right, at our sole discretion, to terminate our contractual arrangement with an account holder, along with access to our services. This decision may be made for any rationale, and it holds regardless of whether notice is provided to the account holder. Refer to section 22 in ***********************************************; and ****************************.
  The closeout check for the remaining account balance of $755.09 was sent on November 18, 2024, to the business address we have on file and is expected to be received within ***** days.
  Novo performs account reviews to ensure that account activity aligns with our service terms. The intent of this review is not to disrupt business operations but to ensure that our products and services are being used within the confines of Novos legal agreements, including the Business Deposit Account Agreement.
  If there are any further questions or concerns, please reach out to our support team.