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.

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  Novo Platform Inc.

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

• 

  Novo Platform Inc.

  222 Broadway Fl 20 New York, NY 10038-2510

• 

  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

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:05/01/2024

  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.

  April 24, 2024 my account was frozen after a transaction. I authorized was flagged For absolutely no reason. All my cards and transactions have been frozen and has been disastrous for my personal and family life. It is hindered my business, which is extremely detrimental to my family and these trying times. *** left several messages to the support team with little to know shown to me and my plight. I am disgusted by this company, which Ive done business with for several years. All I want now is to be able to regain my money and transfer it to an another account from a better bank. Thats hopefully far better than this horrible abomination.

  Business Response

  Date: 05/10/2024

  On April 28, 2024, the customer reached out to our support team to raise concerns about the transactions being declined. Our support team communicated that the account is currently frozen due to a review being performed by our Accounts Team. During this review, we are unable to speak to the specifics of this decision. Unfortunately, we can't provide a timeframe for resolution, and details of the review cannot be shared.
  
  The customer continued to reach out to inquire about the status of the account between April 30 - May 6, 2024, when it was still under review. The customer also shared the concern over the withdrawal reflected on the account on May 3, 2024. Please note that this transaction was the closeout withdrawal to issue a check to the customer for the remaining balance.
  
  Following the conclusion of the assessment, the customer was informed that the account will be closed. 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 ****************************.
  
  **** performs an account review to ensure that activity within the account 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.
  
  The closeout check for the remaining account balance of $2,552.73 was sent on May 3, 2024,  to the business address we have on file and is expected to be received within ***** days.
  
  If there are any further questions or concerns, please reach out to our support team.

• Initial Complaint

  Date:04/30/2024

  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.

  On April 29, I mistakenly opened an account with Novo thinking I had to do this to get paid by a client. I did so in error and immediately tried to cancel but the cancel button wouldn't work so I sent support an email. They processed my account, opened it anyway, ignored and closed my support requests related to the matter, and won't close my account. I want this account closed and I want no association with Novo.

  Customer Answer

  Date: 05/03/2024

  **** responded to me that they put in a request to close the account. However, they are arguing with me about it and dragging their feet. It has been three days since they said they would close it and it isn't closed yet. And they say they can't close it if any fees or transactions take place and I am afraid they will charge me a fee and then say they can't close it as I haven't linked my banking to them and I don't want to. I was hacked on March 25 and have good reasons not to link my bank unnecessarily.

  Customer Answer

  Date: 05/05/2024

  I called Novo since it had been three days since they said they would close my account and got nothing but a personal voicemail that never returned my call or acted on my complaint to close the account. I got a response from a Mobile App this weekend that was AI generated and did not address my question; the problem is, I don't have a Mobile App, I have a desktop app and why they send me an AI message via a channel I haven't been communicating on is stupid an inefficient. I don't think I will ever get this account closed. It appears to be fraudulent.

  Customer Answer

  Date: 05/06/2024

  Today the mobile app says the team is working on it and will respond soon with the next steps to take to close my account. What next steps? It took them 8 hours to open it and its been since April 30th that they said they would close it and today is May 6 and it still isn't closed. And no progress. 

  Customer Answer

  Date: 05/06/2024

  Is there anything BBB can do to facilitate closure? I have left two voice mail messages for **** (not sure what last name is) and he hasn't returned any of my calls. The support line won't help me and said it may take up to two weeks to close it, but it should only take 3 days at the most. Its been seven days since today is the 6th.

  Business Response

  Date: 05/10/2024

  On April 29, 2024, the customer submitted the application for the account at Novo. The customer contacted our support team to cancel the application, but this could not be executed as the application was already accepted and account opened.
  
  On April 30, 2024, post-account opening, the customer requested to close the account. Our support team informed the customer that the request for closure of the account was escalated and the process will be initiated within the next 36 - 48 hours. It was also communicated that it can take up to 2 weeks to update the status of the account to close.
  
  The customer continued to reach out to inquire about the status of the account till May 6, 2024, when it was still under processing.
  
  On May 7, 2024, our accounts team informed the customer that the account had been successfully closed as per their request.
  
  We are glad that this matter has been resolved. If the customer has any further questions or concerns, please reach out to our support team.

  Customer Answer

  Date: 05/15/2024

  Account closed and it was resolved.

  Customer Answer

  Date: 05/15/2024

   
  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:04/29/2024

  Type:Product 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.

  **** is investigating why a wire transfer was NOT received (sent by my client on 4/22). I've provided the wire transfer receipt/confirmation from my client and they are reviewing it. I've asked for it to be escalated since it's a large sum of money and I need access to the funds. I've received no further communication from them on the matter...

  Customer Answer

  Date: 04/29/2024

  The business finally reached out to me after a few days of silence when I called them today. The funds were sent back to the sender and this can be resolved.

• Initial Complaint

  Date:04/24/2024

  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.

  To Whom It May ********* am writing to express my deep concern and frustration regarding the unjust and unlawful freezing of my banking account with Novo Business Banking Platform. As of today, my account remains inaccessible since Friday, April 19th, 2024, depriving me of access to my valid earnings and financial resources.My account balance, totaling $253.60, represents hard-earned income that I rely on for essential expenses and financial obligations. Despite repeated attempts to resolve this matter, including numerous phone calls and 13 messages to customer support, I have encountered significant obstacles and have not received satisfactory assistance.The responses I have received from Novo Business Banking have been consistently vague and unhelpful, with representatives stating that they are unable to provide any information regarding the review of my account or offer a reasonable timeframe for resolution. This lack of transparency and communication is unacceptable and has caused undue hardship and distress.I firmly believe that the freezing of my account is unjust, illegal, and has resulted in unwarranted financial hardship. I demand immediate action to unfreeze my account and restore full access to my funds without further delay. Additionally, I expect clear and timely communication regarding the steps being taken to resolve this issue and prevent similar occurrences in the future.I urge Novo Business Banking to prioritize the resolution of this matter with the utmost urgency and professionalism. Failure to do so will leave me with no choice but to seek legal recourse to recover my funds and seek appropriate compensation for the damages incurred.

  Business Response

  Date: 05/03/2024

  On April 18, 2024, the customer contacted our support team to inquire about the reason why their account was inactive. Our support team communicated that the account is currently frozen due to a review being performed by our Accounts Team. During this review, we are unable to speak to the specifics of this decision. Unfortunately, we can't provide a timeframe for resolution, and details of the review cannot be shared.
  
  The customer continued to reach out to inquire about the status of the account between April 19 - May 1, 2024, when the review was still in progress.
  
  On May 2, 2024, it was concluded that we are closing 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 **************************** .
  
  **** performs an account review to ensure that activity within the account 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. We also acknowledge that this may not be the level of detail you are looking for, but as noted, the review details cannot be shared.
  
  The closeout check for the remaining account balance of $253.60 was issued on May 2, 2024, and sent to the business address we have on file. The check is expected to be received within ***** days.
  
  If there are any further questions or concerns, please reach out to our support team.

• Initial Complaint

  Date:04/23/2024

  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 am a victim of Identity Theft. This company has no way of getting in contact with the bank in regards to this. I have fraudulent checks sent to my house and this bank is no where near my state. This bank needs to be disbanded and not accredited by any means. I've attempted to contact via email and never received anything back from them.

  Business Response

  Date: 05/03/2024

  On March 8, 2024, our accounts team identified unusual behavior within the account in question and was immediately placed in a frozen status.
  
  Following the conclusion of the assessment on April 9, 2024, the account was flagged for closure and the closeout check for the remaining balance of $9,437.00 was sent to the business address on file.
  
  On March 11, 2024, you reached out to our support team to report that an account was opened without your authorization. Following our security procedures, our support team requested the verification details from you before providing any further support. However, we did not receive any response from you to continue correspondence.
  
  Rest assured that the account has already been closed by our accounts team. Additionally, we suggest that you file reports with local law enforcement and visit ****************************** for next steps. It is truly our intention to assist you within the confines of our internal security policies and applicable regulations.
  
  Regarding the check received, please present this to law enforcement when filing the law enforcement report.
  
  If you have any further questions or concerns, please contact our support team by responding to the same ticket where we requested the details.

• Initial Complaint

  Date:04/21/2024

  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.

  It pays to read reviews before you commit yourself to any financial organization. I applied for ********* in February or January for my business and since then my account was compromised twice! because my account was compromised the second time which was beyond my control, not only did they freeze my account after I provided information by proving who I was they are withholding money in my account and not releasing it. Not to mention I have over $25,000 pending deposit to come in and they informed me that they will be rejecting them! By doing this, it will delay, my employees from being paid because the direct deposit that I have set up will not process the deposit will not be received. It is beyond beyond a huge inconvenience. You have no idea ! I am beyond disgusted and at this level I am trying to file a complaint with the better business bureau as well as the **** because it is something more Nefarious at foot with this company! New business owners, please do not. I repeat, do not sign up with this institution.

  Business Response

  Date: 05/01/2024

  On April 19, 2024, the customer contacted our support team to inquire about the reason why their account was inactive. Our support team communicated that the account is currently frozen due to a review being performed by our Accounts Team. All incoming and outgoing transactions are temporarily suspended while the account is under review. During this review, we are unable to speak to the specifics of this decision. Unfortunately, we can't provide a timeframe for resolution, and details of the review cannot be shared.
  
  
  On May 1, 2024, it was concluded that we are closing the customers account. As delineated in Novo's Terms of Use Agreement, specifically in section 22, and in the "Amendments and Termination" segment of 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 section 22 in **************************** and ****************************.
  
  **** performs an account review to ensure that activity within the account 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. We also acknowledge that this may not be the level of detail that you are looking for, but as noted, the details of the review cannot be shared.
  
  The closeout check for the remaining account balance of $105.02 was issued on May 1, 2024, and sent to the business address we have on file. The check is expected to be received within ***** days.
  
  If there are any further questions or concerns, please reach out to our support team.

• Initial Complaint

  Date:04/17/2024

  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.

  $1,000 is missing from my account and this company does not answer their phones or respond to e-mails.

  Business Response

  Date: 04/26/2024

  On April 16, 2024, the customer contacted our support team informing about the double charge of the amount of $1,000 at the merchant. Our support agent reviewed the account informed the customer that the initial attempt of the transaction on April 12, 2024 was not successful and a second attempt was made on April 16, 2024. This second attempt did go through and the funds were deducted from the account. However, the funds from the initial transaction were still on a pre-authorization hold.
  
  On April 17, 2024,  our support team communicated that our team was working with our card processor to investigate an issue that caused some transactions to take longer than normal to settle. Unfortunately, we're unable to remove pending transactions like this, but please know that these pre-authorization holds will eventually be released. In some cases, they may not be released until the pre-authorization expires, which is 14 days from the original transaction date.
  
  On April 19, 2024, the hold in the amount of $1,000 was released, which should consider this matter closed.
  
  We understand the frustration and appreciate the feedback as we are working with our teams to improve our customer care to ensure prompt and accurate information is provided. We are glad that this matter has been resolved and are available for further assistance if needed.

• Initial Complaint

  Date:04/16/2024

  Type:Sales and Advertising 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.

  Greetings Ive just signed up with this bank about two weeks ago. Since then Ive attempted to deposit a check which was denied with no notification or explanation. Afterwards my account was frozen and under review with no timeline or no status update. They had me write on the check which now is causing issues cashing it elsewhere.

  Business Response

  Date: 04/26/2024

  On April 15, 2024, the customer reached out to inquire about the status of the check he deposited on the same day. Our support team initially communicated that the check was rejected due to inaccuracies and **** will not be able to negotiate the check.
  
  On April 16, 2024, the account was placed in a frozen status for review. The customer reached out to inquire about the reason his account was placed under review and our support team communicated that during the review, we are unable to speak to the specifics of this decision. Unfortunately, we can't provide a timeframe for resolution, and details of the review cannot be shared.
  
  **** performs an account review to ensure that activity within the account 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.
  
  The customer continued to reach out to inquire about the status of the account through April 18, 2024, when it was still under review.
  
  Following the conclusion of the assessment on April 23, 2024, it was decided that we are closing the users 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 $1.50 was sent to the business address we have on file and is expected to be received within ***** days.
  
  If there are any further questions or concerns, please reach out to our support team.

• Initial Complaint

  Date:04/14/2024

  Type:Order 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.

  Company denied a rightful referral clickthough that was tracked. I met all requirements, adblock was turned off, and Novo banking knows I came through a click through. I am owed $132 in ******** credits.

  Business Response

  Date: 04/24/2024

  On April 8, 2024, the customers account was opened at Novo after submitting his application on the same day. The customer submitted the application using an affiliate link.
  
  On April 10, 2024, the customer deposited $50 in the account which was withdrawn on April 14, 2024.
  
  On April 14, 2024, the customer requested our support team to close the account. Our support team instructed the customer to keep the remaining balance at $0 and raised the request internally for account closure.
  
  On April 16, 2024, the account was closed per the customers request.
  
  Addressing the customers query about the referral credits, the affiliate partner is responsible for distributing the award and Novo is not liable to pay any credits to the customer. The referral program is an agreement between the affiliated partner and the customer.
  
  We suggest the customer contact the affiliate partners support line for further assistance.

  Customer Answer

  Date: 04/24/2024

   
  Complaint: 21575054
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***********************

  Customer Answer

  Date: 04/24/2024

  **** is the company that told the third party that my referral was not valid. So while they do not directly owe me money, they need to clarify with the third party that the referral is valid

  Business Response

  Date: 04/25/2024

  On April 8, 2024, the customers account was opened at Novo after submitting his application on the same day. The customer submitted the application using an affiliate link.
   
  On April 10, 2024, the customer deposited $50 in the account which was withdrawn on April 14, 2024.
   
  On April 14, 2024, the customer requested our support team to close the account. Our support team instructed the customer to keep the remaining balance at $0 and raised the request internally for account closure.
   
  On April 16, 2024, the account was closed per the customers request.
   
  Addressing the customers query about the referral credits, the affiliate partner is responsible for distributing the award and Novo is not liable to pay any credits to the customer. The referral program is an agreement between the affiliated partner and the customer.
   
  We suggest the customer contact the affiliate partners support line for further assistance.

  Customer Answer

  Date: 04/25/2024

  I have contacted the affiliate partner and they claim Novo refused the referral bonus that should have been paid to them, which is then paid to me. I cannot get paid from the third party, until **** pays said third party.

  Business Response

  Date: 05/07/2024

  We request the customer respond to the latest email shared by our support team. We look forward to receiving the requested information from the customer to assist further.

  Customer Answer

  Date: 05/07/2024

   
  I have responded and no resolution has been made

  Business Response

  Date: 05/13/2024

  On May 8, 2024, our support team informed the customer that we were issuing a gift card worth $88 per the affiliate partners current offer of 8800 Swagbucks. 
  
  Please note that the gift card has been offered as a goodwill gesture from Novo. However, Novo is not liable for any agreement between the customer and an affiliate partner. Furthermore, in requesting evidence/correspondence between the customer and the affiliate partner pertaining to the payout, minimal documentation was provided. The documentation provided by the customer clearly notes why the referral was denied by the affiliate partner, the customer is using an ad blocker, referral link is blocked.

  There are no pending actions from our side at this time. 
  

  
  

  Customer Answer

  Date: 05/14/2024

  The total compensation for this offer was $132 which was provided with proof as a screenshot. This deal was also not through Swagbucks at all but rather an affiliate called Revenue universe. I appreciate the partial credit but I am still $44 short on what was originally promised

• Initial Complaint

  Date:04/14/2024

  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.

  As of April 1st 2024 Novo has froze my bank account. I currently have $336 in the account and another in $1667 that will most likely deposit to this account on the 15th of April. I have called, left messages and left reviews. They have made no efforts to give me a reason my account has been frozen, nor have they told me how long my funds will be frozen, which is important as this is my lively hood. They wont even give I direct answer on the phone to who I can reach out to about the issue. They definitely dont seem to care about taking my hard earned money and forcing me into late fees on my bills. Unfreeze my account or at least help me find a legitimate reason for this please! I hate this company and want out.

  Business Response

  Date: 05/02/2024

  Please note that the *** direct deposit totaling $665.71 was rejected and returned to the sender on April 15, 2024. This action resulted from the freeze status on the account, which was closed later that day. When the account is frozen, all incoming and outgoing transactions are not allowed. We recommend that you follow up with the originator of that payment accordingly.
   
  Following the account closure, the remaining balance of the account was $336.16, and a closeout check for the same amount was issued as communicated in our previous response. At present, there are no outstanding matters on the account.