Consumer complaint received 2025-03-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: Novo Platform Inc.
State: PA

Complaint narrative:
I am filing this complaint against Novo, a business banking provider, for failing to return the remaining balance of my business bank account after its closure. Despite repeated attempts to resolve this issue, Novo has not provided my funds or a satisfactory resolution. 

Here is a summary of the issue : XXXX. * * Account Closure : * * - My business account with Novo was closed on XX/XX/XXXX. 
- At the time of closure, the account had a balance of over {$800.00}. 

2. * * Undelivered Funds : * * - Novo claims they mailed a cashiers check for the remaining balance to my business address on file. However, I never received the check. 
- After multiple follow-ups, Novo stated they reissued a second check on XX/XX/XXXX, and mailed it to my personal address. I also did not receive this check. 
- Novo has refused to provide a tracking number for either check, citing internal policy.

3. * * USPS Informed Delivery : * * - I use USPS Informed Delivery, a service that allows me to see scanned images of mail being delivered to my address.

- I have confirmed through Informed Delivery that neither the original check ( allegedly mailed in XX/XX/XXXX ) nor the reissued check ( allegedly mailed in XX/XX/XXXX ) was ever delivered to my address. 
- This evidence strongly suggests that Novo either never mailed the checks or failed to use a secure and traceable mailing method.

4. * * Communication Issues : * * - Novo does not have a phone number for customer support, so all communication has been via email.

- Their responses have been inconsistent and unhelpful, often providing vague explanations or redirecting me to wait for the 90-day period per UCC 3-312 .

- As of today, the 90-day period has passed, and I still have not received my funds.

5. * * Attempts to Resolve : * * - I have repeatedly emailed Novos customer support team, requesting a reissued check with a tracking number. 
- On XX/XX/XXXX, I sent a formal request for immediate action, but I have not received any response or resolution. 

* * Requested Resolution : * * I am requesting that Novo : 1. Immediately reissue a cashiers check for the remaining balance of my account.

2. Provide a verifiable tracking number for the reissued check.

3. Compensate me for the inconvenience caused by this prolonged delay.

* * Supporting Documents : * * I have attached the following documents to support my complaint : - Copies of email correspondence with Novo. 
- Account statements showing the balance at the time of closure. 
- Any other relevant documentation. 

* * Conclusion : * * Novos failure to return my funds in a timely manner has caused significant financial and emotional distress. I have made every effort to resolve this issue directly with Novo, but they have been unresponsive and uncooperative. The evidence from USPS Informed Delivery confirms that the checks were never delivered, further demonstrating Novos negligence in handling this matter. I am now seeking assistance from the CFPB to ensure that Novo fulfills its obligations and returns my money. 

Thank you for your attention to this matter. Please let me know if you require any additional information or documentation.

Company response to consumer: Closed with explanation