Consumer complaint received 2025-08-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: Novo Platform Inc.
State: TX

Complaint narrative:
On XX/XX/year> I contacted XXXX XXXX Banking regarding unauthorized charges on my business account. These charges we not automatically flagged as suspicious despite being vastly different than my typical spending patterns in terms of place of transaction and amount. My debit card was and had always been in my possession. I told XXXX I believed my account was compromised because the person using my card information was able to access my name, email, and phone number. They ensured me I just needed to get a new debit card issued to me and change my password for my XXXX account. It is important to note XXXX includes a virtual debit card with a number separate from the physical debit card which is visible when you open your online banking account. I did change my password and have multiple times since this incident. At this time I was able to cancel the unauthorized transaction that did go through because it was a XXXX XXXX locker pick-up order. XXXX months later on XX/XX/year> I received more unauthorized purchases on my XXXX business debit card and once again, my card was in my possession and had never been out of my possession. During the same time frame of the unauthorized charges happening I was contacted by a scammer posing as a Novo Bank representative who said he was calling due to suspicious activity on my debit card. This person knew my name, email address, phone number, and physical home address. They also knew how much money was in my business account. Because they had this information I believed it was a legit phone call. They assured me they were freezing my account and issuing a new debit card. During this process XXXX of the unauthorized charges were validated and the charges went through totaling over {$4000.00}. Once I realized I was being scammed I hung up and called XXXX. Per usual, there was nobody to answer the phone and I had to leave a message and continue calling all while my account was still compromised. Once I finally got a hold of a representative I asked them to close my account but they told me I could not close the account because there would be an open fraud investigation for the disputed charges. They instead told me to change my phone number with my cell phone XXXX and change the password on my bank account. Additionally, they would not doing anything about XXXX of the unauthorized charge that was currently pending and instead made me wait until the funds were taken from my account and then create another unauthorized transaction report. During this time the scammers hacked into my bank account again and I was notified of a " successful log in attempt from a new device. '' I subsequently had to withdrawal the remaining funds from my account to ensure they were not able to make further purchases. I have repeatedly called XXXX to inquire about being reimbursed for the unauthorized purchases and have been told there is an open case and I will be notified of next steps within XXXX business days but that if the dispute is ruled in my favor it can take up to XXXX business days for the money to be returned to me. I am very concerned about the cybersecurity of XXXXXXXX XXXX online banking platform and am very angry that they offered no additional protection of my bank account after the first incident in XXXX, thus leaving me susceptible to further risk. I have had a personal account with another bank for almost XXXX  years and have never once had an issue with my account being hacked but in just XXXX  months my account has been compromised XXXX with XXXX. Although XXXX says they are investigating this situation they have offered no assurance the funds will be returned. Because this account is a business debit account I am not able to make necessary payments for my business. They have offered no other solutions or support in this situation and have still not closed my bank account. Because XXXX uses non XXXX speaking employees at call centers it is very difficult to understand what they are saying and get a clear understanding of if and when I will be reimbursed.

Company response to consumer: Closed with explanation