User terms
Novo Financial User Terms (Last updated on: Jan 10 , 2025)
These Novo Financial User Terms (“Terms and Conditions”) sets out the applicable terms and conditions governing your use of products and services offered by HorizonFlare Technology Limited.
By signing up and using any of the product or service offered by Novo Financial, you agree to comply with all applicable terms and conditions as contained herein and as may be provided to you, from time to time.
I. DEFINITIONS
Unless specifically stated otherwise, when you see the following terms used, they will mean the following:
“Card” or “Novo Financial” means a physical or virtual Novo Financial Prepaid Mastercard®
“Cardholder” means an individual who requests, activates, receives or uses a Card.
“Novo Financial”, “we”, “us” or “our” means HorizonFlare Technology Limited., a FINTRAC registered money services business.
“Account” or “Novo Account” means your regular account that facilitates loading and spending via the Novo Financial supported by the Novo Financial App.
“Novo Financial App” means the: (i) Novo Financial mobile application; and (ii) any affiliated web interface made available to sing-up for Novo Financial products and services.
“Novo Financial Website” means https://www.novofinancial.ca/
“Novo Financial Platform” means collectively the Novo Financial App and Novo Financial Website.
“Novo Financial Privacy Policy” means the privacy policy of Novo Financial, which can be accessed here.
“Novo Financial Services” means all the products and services offered by Novo Financial, from time to time, including Novo Financial.
II. Novo Financial CARDHOLDER AGREEMENT – MASTERCARD
To use the products and services offered by Novo Financial, it is necessary for you to have a Novo Financial.
By activating or using your Novo Financial or allowing anyone else to use your Novo Financial, you are agreeing to these Terms and Conditions, including: (i) this Novo Financial Cardholder Agreement – Mastercard (“Cardholder Agreement”); (ii) the Novo Financial Privacy Policy; and (iii) General Terms that apply to all Novo Financial products and services set out below, and all of these together are your “Agreement” with us.
1. Summary of Important Card Details
Eligibility: To sign up for a Novo Financial, you must be a Canadian resident and must have attained the age of majority in the province you reside. Novo Financial reserves the right to add additional eligibility criteria in its sole discretion.
Use of Card: Funds can be loaded onto your Card and used in a number of ways, as explained further below. You can use your Novo Financial anywhere that Mastercard is accepted to make purchases or ATM withdrawals. When you use your Novo Financial, your Novo Financial balance will decrease. You must ensure that there is a sufficient balance in your Novo Financial to cover the full amount of transaction made with the Novo Financial. Your Card is reloadable.
Card Balance: You can view your Novo Financial balance for free, at any time, using your Novo Financial App or by contacting customer service.
Card Information and Expiry: Your right to use the funds loaded into your Card will not expire but your physical Card may expire. After the “good thru” date or “expiry date” on your Card, simply contact Novo Financial customer service for instructions on how to receive a replacement Card free of charge or to arrange the return of any available funds.
Fees and Limits: Certain fees and limits will apply to the use of your Novo Financial, please see the Fees and Limits section of this Cardholder Agreement. These are subject to changes. Please keep your contact information up to date.
Card Restrictions: Cardholders must be of the age of majority in the province or territory where they reside. You may not use your Card to commit or facilitate any illegal or prohibited activity. We may suspend or deactivate your Card and/or Novo Financial Account or decline a transaction at any time if we suspect illegal activity or fraud. You do not have the right to stop the payment of any transaction you conduct with the Card. Your Card (or card number) cannot be used for “cashback” transactions where a merchant charges you an amount greater than the price of the goods and services purchased. Your Card may also not work at unattended terminals (such as parking or pay at the fuel pump stations). Use of your Card in certain countries may be restricted by applicable law.
Funds loaded onto the Card are not a “deposit” and are not insured by the Canada Deposit Insurance Corporation (CDIC).
Protection of Card and PIN; Lost or Stolen Cards: You must take all reasonable steps to protect your Card and PIN against loss, theft or unauthorized use. You should not maintain a written record of, or disclose the PIN to a third party, including family members and friends. In the case of a joint Novo Financial Account, you may only use the Card and PIN issued to you. Avoid PIN combinations that may be easily guessed by others. If you lose your Card and/or PIN or you become aware that your PIN may have become known to someone else, or if you have reason to believe that someone has made an unauthorized transaction with your Card, or may attempt to use your Card without your permission, you must IMMEDIATELY lock your Card in the Novo Financial App and notify Novo Financial customer service. If you do not notify us IMMEDIATELY then all transactions carried out on your Card before you notify us will be considered to have been made by you.
2. Novo Financial Use
A. Loading and Allocating Funds on your Novo Financial: Your Novo Financial is reloadable. You can load funds into your Novo Financial using various supported methods, which we may, at our sole discretion, change from time to time. Each load method may be subject to additional terms and conditions. The time the funds become available may vary between load methods, but generally funds loaded into your Novo Financial will be available immediately after the load is confirmed by us. Please check your Novo Financial App for the most up to date information on available load methods and terms.
The funds loaded into your Novo Financial is not a deposit and does not establish a separate individual deposit account. Unless you have opted into Earn Interest: (i) you will not receive interest on your Novo Financial balance; and (ii) your Novo Financial balance is not insured by the Canada Deposit Insurance Corporation (“CDIC”) or by any other provincial insurer of deposit.
We currently support loads via e-transfers from bank accounts, supported debit cards, direct deposit, cash loads. Other methods may be made available by us from time to time.
To support loading funds into your Novo Financial using direct deposit, we will issue you transit, institution and account numbers. These numbers will refer to a payment processing account that we have created for you to facilitate the direct deposit into your Novo Financial and do not correspond to a direct deposit account held by you at a financial institution
All funds loaded into your Novo Financial are held with one of our financial institution partners. All our financial institution partners are regulated by a Canadian regulator.
Novo Financial is not a bank and does not itself take deposits. Funds loaded into your Card are not ‘deposits’.
B. Using your Novo Financial: Subject to the limits and other terms, you may use the funds loaded onto your Card in a number of ways, which we may, at our sole discretion, make available from time to time. Your Card may not be used for any illegal or prohibited activity.
It is your responsibility to ensure that your available Novo Financial balance is sufficient to cover a transaction, including applicable fees and taxes. If you have allocated a portion of your balance to “Vault” that portion of your balance will not be available for transactions. If your Card balance goes into a negative balance, you must repay us the amount of the negative balance right away (unless you have opted-in to the Novo Financial Cover Bundle – see the separate Novo Financial Cover Bundle terms and conditions). We may disable or suspend your Card and/or Novo Financial Account if you have a negative balance.
You can use your Novo Financial anywhere that Mastercard is accepted to make purchases or ATM withdrawals. When you use the Card, the amount of the purchase or withdrawal, plus any applicable fees and taxes, will be deducted from your Novo Financial balance. If you authorize another person to use the Card you agree, to the extent permitted by law, that you will be liable for all transactions arising from that person’s use of the Card.
If the balance on your Card is not sufficient to cover a full point of sale transaction amount, you may ask the merchant if they will accept a split tender transaction in order to cover the difference with another form of payment (e.g. cash, cheque, credit or debit). If you fail to inform the merchant that you would like to complete a split tender transaction prior to using your Card, your Card may be declined. Merchants do not have to and may not agree to accept split tender transactions.
For some transactions, we or the merchant (for example, gas stations, restaurants, hotels or car rental companies) may pre-authorize up to 20% (or more) above the purchase amount to ensure there are sufficient funds available on your Card to cover any tips or incidental expenses. In such cases, your transaction will be declined if your balance will not cover the transaction amount plus the additional amount. A pre-authorization places a ‘hold’ on an amount of your available Card funds until we release it, which in some cases we will not do until the merchant sends us the final payment amount of your purchase. The hold is typically removed between 5-15 business days for most transactions. During the hold period, you will not have access to the pre-authorized amount.
When made available via the Novo Financial App, you may use your Novo Financial balance to pay bills by adding the recipient as a payee or by setting up a pre-authorised debit (“Direct Debit”) to make regular and recurring payments. Bill payments and Direct Debit can be set up through the Novo Financial App. To make Direct Debits, we will issue you a transit, institution and account number to provide to your payee (these numbers will refer to a payment processing account that we have created for you to facilitate the direct debit from your Novo Financial Account and do not correspond to a deposit account held by you at a financial institution). We are not responsible if you provide a payee with incorrect information or if payments to a payee do not reach the payee on time.
B. Who issues your Novo Financial: The Card is issued and distributed by Novo Financial. Novo Financial and its third-party partners administers the Novo Financial program including the provision of balance information and delivery of communications to Cardholders through the Novo Financial App and/or Novo Financial website or using contact details provided through the Novo Financial App.
C. Card Balance: You can review your Novo Financial Account balance, at any time, using your Novo Financial App.
We may offer different features from time to time that allow you to allocate certain portions of your Card balance to be held for different purposes, like to meet certain spending or savings goals. See your Novo Financial App or Novo Financial Website for more details. Some of this may impact the total amount of funds available to transact.
If your Card balance goes into a negative balance, you must repay us the amount of the negative balance right away. Additionally, we have the right to deduct amount necessary to pay off a negative balance from any amount loaded into your Card, either by you or from payments you receive. Separately, if you have more than one Novo Financial Account (including Joint Account), we may set off such amounts against the balance of your other Novo Financial Account. In addition to these rights, we may also disable or suspend your Card and Novo Financial Account if you have a negative balance.
D. Transactions Made in Foreign Currencies: If you make a purchase using your Card in a currency other than in Canadian dollars, the amount deducted from the available funds in your Card will be converted by Mastercard into Canadian dollars. The applicable exchange rate will be determined by Mastercard from the range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate Mastercard itself receives. The exchange rate used for the conversion on the processing date may be different than the rate that was in effect on the date you performed the transaction and may include a margin, which is the difference between the exchange rate Mastercard is able to obtain for the foreign currency and the actual foreign exchange rate Mastercard uses for the conversion into Canadian dollars and may be an indirect cost to you. We will add the Foreign Exchange Transaction Fee, if applicable, to your transaction amount (see the Card Fees and Limits section). If a foreign currency transaction is refunded to your Card, the exchange rate determined by Mastercard will be used to convert your refund to Canadian dollars and the rate in effect on the day that the refund is processed may differ from the rate in effect on the transaction date or posting date. This means that the amount that is credited to your Card for a refund of a foreign currency transaction will, in most cases, be different from the amount that was originally charged to your Card for that transaction. We subtract the Foreign Exchange Transaction Fee from the amount that we refund to your Card (see the Card Fees and Limits section).
E. Protection Against Loss, Theft, or Unauthorized Use: If your Card is lost or stolen, you must lock your Card in the Novo Financial App and notify Novo Financial customer service immediately. If you lose the Card, someone might be able to use the balance in your Novo Financial Account. It can be used without a PIN to make purchases. If you lose your Card and/or PIN or you become aware that your PIN may have become known to someone else, or if you have reason to believe that someone has made an unauthorized transaction with your Card or may attempt to use your Card without your permission, you must IMMEDIATELY lock your Card in the Novo Financial App and notify customer service. If you do not notify customer service IMMEDIATELY then all transactions carried out on your Card before you notify customer service will be considered to have been made by you. We will refund any remaining balance after we have processed all transactions completed before we had an opportunity to act on your information or, if the Mastercard Zero Liability Policy applies, all transactions for which you are covered under the Mastercard Zero Liability Policy. A replacement Card with any remaining balance (less any applicable fees as stated in the “Card Fees and Limits” section) will be issued to you after you report the Card lost or stolen and consent to a card re-issue.
With the Mastercard Zero Liability Policy, you will not be liable for any unauthorized use of the Card on any transactions processed by Mastercard if you meet the policy conditions. The Mastercard Zero Liability Policy will not generally apply to commercial cards or to transactions that are not processed by Mastercard, and you must establish to our satisfaction that you are not responsible for the disputed transaction. Verification of a Zero Liability claim can take up to 120 calendar days once all the paperwork has been received and confirmed by us, and may require a police investigation.
F. Ownership of the Novo Financial: The Card is owned by us and will remain our property. We may refuse to issue a Card to you or allow you to use your Card to make a purchase at any time and for any reason. We will mail the physical Card to the address you provide. All Cardholders must be the age of majority in the Canadian province or territory where they live. You must return or destroy the Card upon our request. You will be solely and completely responsible for the possession, use and control of the Card.
3. Novo Account Features
A. Earn Interest
Subject to Eligibility conditions, you may sign up to earn interest on your Novo Account balance at any time (“Earn Interest”). Once you’ve signed up for Earn Interest, it may take up to 5 business days for the Earn Interest feature to get activated.
By signing up for Earn Interest via the Novo Financial App or by using Earn Interest, you represent and warrant that: (i) all information provided by you to us (including during the signing up process) is truthful, accurate and complete; and (ii) you will comply with all applicable terms and conditions (including the ones contained in this section).
Eligibility
In order to sign up for Earn Interest, you must first provide the required identification information, to our satisfaction. Additionally, you agree to maintain and promptly update all information you provide.
Novo Financial reserves the right to add additional eligibility criteria in its sole discretion.
Interest
While your Account has the Earn Interest active, you will earn interest on your Novo Account balance at the disclosed rate. The most up to date interest rate will be made available to you on the Novo Financial App, subject to change from time to time.
Interest rates are per year, calculated daily and paid monthly. Interest is calculated by taking your closing daily balance and multiplying it by the interest rate to the user, then dividing that by 365 days (or 366 in case of a leap year). These daily portions are added together and paid to your Novo Financial Account monthly. Notwithstanding, interest payments are not prorated, and you will only receive interest payments if you are enrolled in Earn Interest on the monthly interest payment date. Interest payable will be rounded to the nearest cent.
You acknowledge that the interest rate, manner of computing interest, time of interest payment and the manner of determining the interest rate may change without prior notice. We will advise you by communicating the new rate and any interest calculation changes via the in-app message or by posting it on our website.
Tax
Determination and payment of any tax liability related to or arising out of Earn Interest is your sole responsibility. To the extent required by law, we will issue necessary tax forms and make certain year-end tax reports.
Termination and Suspension
We may at any time, in our sole discretion and without any prior notice, alter, amend, restrict, modify or terminate Earn Interest and its related benefits. You understand that there is no guarantee that Earn Interest or any of the functionality will continue to operate or be available for any particular period of time.
4. Collecting and using your personal information
By applying for a Card, you consent to the collection, use, disclosure and retention of your personal information by us and our service providers for purposes relating to your application for a Card and your use of a Card (if issued to you) and as otherwise described in our Privacy Policy. If you do not consent to the collection, use, disclosure and retention of your personal information, you may not apply for or use a Card. As explained in our Privacy Policy, you may withdraw your consent at any time by canceling your Card and all related services from us by contacting Novo Financial customer service.
5. Miscellaneous
A. Statement: All transactions in relation to your Novo Financial, including any advance that is extended on your Novo Financial and any payments made, will be reflected in the Novo Financial App and the electronic monthly statement made available to you in the Novo Financial App.
B. Dispute: If you believe a transaction on your Card is incorrect, you must notify us of your dispute within sixty (60) calendar days of the transaction date. Following your notification, you will need to complete and email a dispute form to the customer service team within ninety (90) calendar days of the transaction date. You can obtain a dispute form from customer service. Please note that this form must be received within ninety (90) calendar days of the date of the disputed transaction or you will have been deemed to have accepted such transaction.
If you identify an error in any transaction record, you must address such error with the applicable merchant or ATM operator. If there is any dispute in regard to purchases you make using the Card, you agree to settle such disputes with the merchant from whom the purchase was made. Please ask the merchant for any return policy that may apply to purchases made with the Card. We are not responsible for any problems you may have with any goods or services that you purchase with your Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. If you are entitled to a refund for any reason for goods or services obtained using your Card, you agree to accept credits to the balance on your Card in place of cash.
If we reimburse you for a refund claim you’ve made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with the Novo Financial, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your Novo Financial. You agree that you will not pursue any claim against or reimbursement from such a third party for the amount that we paid or credited to your Novo Financial, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you.
C. Collection of Fees and Charges: You hereby authorize Novo Financial to charge your Novo Financial and/or any other payment method selected by you to collect any amount due to Novo Financial, including various fees, charges, interest, etc.
In the event Novo Financial is unable to collect the entire amount due, you authorize Novo Financial to collect such amounts from any amount loaded into your Novo Financial at a later point, either by you or from payments you receive. Additionally, if you have more than one Novo Financial Account (including Joint Account), we may set off the outstanding amount due to Novo Financial against the balance of your other Novo Financial Account.
D. Cancellation: You may close your Novo Financial Account and terminate your relationship with us at any time without cost or penalty, but you will remain liable for all obligations related to your Novo Financial Account even after the account is closed. When you close your Novo Financial Account, we will cancel any scheduled or incomplete transactions.
We have the right, in our sole discretion and without notice or liability to you, to modify, suspend or terminate your Novo Financial Account, for any reason, including if you breach any provision of these Terms and Conditions or if we suspect fraud or that it has been accessed via unauthorized means.
Upon cancellation by you or us, you must immediately stop using your Novo Financial Account and destroy the Card. We will transfer any remaining balance on your Card to you within forty-five business days of cancellation, less any outstanding fees and pre-authorized payments (direct debits)
6. Card Fees and Limits
The following fees will apply to the use of your Novo Financial. Additional Fees and Charges may apply.
ATM Withdrawal Fees*
Free
Foreign Exchange Transaction Fee^
1.5% per transaction**
Notes:
Your financial institution may charge additional fees for electronic funds transfer from your bank account, over which we have no control.
*Additional fees for ATM withdrawals may be charged by the ATM operator, over which we have no control.
^More information about Foreign Exchange Transaction Fee is included above in the Transaction Made in Foreign Currencies section of these Terms and Conditions.
**We might discount the Foreign Exchange Transaction Fee with various Subscription Plans, please refer to your Subscription Plan benefits for more details.
III. GENERAL TERMS AND CONDITIONS
This section applies to all products and services offered by Novo Financial to you.
1. Collecting and Using your Personal Information
By applying, signing or using a Novo Financial or any other Novo Financial Services, you consent to the collection, use, disclosure and retention of your personal information by us and our partners and service providers for purposes relating to your application, enrolment or use of the Novo Financial and relevant Novo Financial Services, in accordance with our Privacy Policy.
If you do not consent to the collection, use, disclosure and retention of your personal information, you may not apply for or use the Novo Financial or any of the Novo Financial Services. As explained in our Privacy Policy, you may withdraw your consent at any time by closing your Novo Financial Account, canceling your Card and discontinuing the use of all Novo Financial Services.
2. Communication and Notification
You hereby agree and acknowledge that Novo Financial may communicate with you electronically via the Novo Financial App, email or any other means of communication as may be determined by Novo Financial, from time to time. At times we may still send you paper communications that contain important information relating to your Novo Financial Account or other Novo Financial Services, and so you should continue to view any correspondence that we may mail to you.
Novo Financial will communicate with you by way of the Novo Financial App. In addition to this method of communication, Novo Financial may contact you and provide notices via email. When we use email, we will send you electronic correspondence, including notifications, to the email address you have on file with us. It is your responsibility to keep your information up to date. You understand that if you do not keep your information up to date, we may not be able to complete the sign-up process or otherwise contact you.
3. Account Access
We will determine how you may access your Novo Financial Account and other Novo Financial Services, including ways to identify you when you require access. You may access your Novo Financial Account and Novo Financial Services using the Novo Financial App.
You are solely responsible for keeping your access login credentials confidential and secure, and you accept full responsibility for monitoring and safeguarding your Novo Financial Account and access to your Novo Financial Platform. You agree to immediately notify us in writing if you have become aware of any loss, theft, or unauthorized use of your login credentials or access to your Novo Financial Account.
4. Payment Method
The default payment method for any amount payable to Novo Financial in relation to all Novo Financial Services will be the Novo Financial Account. In addition to your Novo Financial Account, Novo Financial may make other payment methods available to you from time to time, as the primary or secondary payment method.
In the event you choose a different payment method (i.e. not being Novo Financial Account) as the primary payment method, you authorize Novo Financial to charge the selected payment method first and then charge your Novo Financial Account if we are unable to collect from the primary payment method.
In the event you choose a different payment method (i.e. not being Novo Financial Account) as the secondary payment method, you authorize Novo Financial to first charge your Novo Financial Account and then charge the selected payment method when your Novo Financial Account balance runs low.
Subject to availability, you may change your payment method at any time.
It is your responsibility to keep your payment information current and up to date. If this information changes, we may, without having an obligation to do so, update it using information and third party sources available to us without any action on your part. If you do not want us to update your payment information, you may remove your payment method.
In the event Novo Financial is unable to collect the entire amount due, you understand that Novo Financial may collect the amount due from any amount loaded into your Novo Financial at a later point, either by you or from payments you receive. Additionally, if you have more than one Novo Financial Account (including Joint Account), we may set off the outstanding amount due to Novo Financial against the balance of your other Novo Financial Account.
5. Limited License
We grant you limited, non-exclusive, non-transferable license, subject to the terms of these Terms and Conditions, to access and use Novo Financial Services and Novo Financial Platform and all the related contents, materials and information (collectively “Content”) solely for the approved purposes as permitted by Novo Financial from time to time, and solely for your own personal use and not behalf of any third party.
6. Marketing
You agree that Novo Financial and its partners may contact you for marketing purposes, including via electronic means. You may, at any time, opt – out of receiving marketing communications from us. Please allow up to 10 business days for the opt – out to take effect. We will provide you important information relating to your Novo Financial and Novo Financial Services, even if you have opted out of receiving marketing communications.
7. Feedback and Comments
Any comments or materials sent to Novo Financial or posted in relation to Novo Financial online (collective “Feedback”), shall be deemed to be non-confidential. Feedback includes: (i) comments, reviews and suggestions posted on Novo Financial Platform, the app store and any social media platform; and (ii) feedback data collected from you by Novo Financial.
Novo Financial shall have no obligation of any kind with respect to such Feedback and shall be free to reproduce, use, disclose, market, exhibit, display, transform, create derivative works or improvements and distribute the Feedback to others without limitation. We may use Feedback that you provide in future marketing materials. This information will not strictly identify a specific individual, unless additional consent is received.
Further, Novo Financial shall be free to use any ideas, concepts, know-how or techniques contained in such Feedback for any purpose whatsoever, including but not limited to developing, manufacturing and marketing products incorporating such Feedback.
8. Amendments
We reserve the right, in our sole discretion, to modify, amend, alter or otherwise update these Terms and Conditions and any other terms and conditions applicable to a Novo Financial Service (whether outlined here or not), at any time, without notice. This includes the right to change, amend and alter: (i) the nature of Novo Financial Service; (ii) the rights, obligations and liabilities of consumers and/or Novo Financial; (iii) communications and notices; (iv) password security and identity authentication; (v) payment methods; (vi) sending or withdrawal limits; (vii) account balances; (viii) closing of accounts; (ix) fees, charges and costs associated with Novo Financial Services; (x) restricted activities; (xi) features, rewards and benefits associated with Novo Financial Services; (xii) resolution procedures for unauthorized transactions and processing errors; (xiii) disputes with Novo Financial; (xiv) governing law and jurisdiction; (xv) limitations of liability and warranties; and (xvi) definitions. The revised version will be effective at the time we post it, unless otherwise noted.
We will give you advance notice of any changes where we are required to do so by law and these Terms and Conditions will always reflect the most current terms and conditions. You are responsible for informing us of any change in your mailing or email address and for checking Novo Financial.ca and/or the Novo Financial App, on at least a monthly basis, for such notifications or updates to these Terms and Conditions.
If you use your Novo Financial or any other Novo Financial Service, including making a repayment or requesting an advance, after we have made changes to these Terms and Conditions and given you any required notice, you will be considered to have agreed to the change. If you do not agree to the revised terms and conditions, you must stop using the Novo Financial Service the change relates to.
For Quebec Residents only:
Notwithstanding any other provision in these Terms and Conditions, if you reside in Quebec and are a consumer within the meaning of the Consumer Protection Act (Quebec), Novo Financial will provide you with 30 days prior notice of any changes to these Terms and Conditions. Your notice will set forth: (i) the change, (ii) the date of the coming into force of the change and (iii) your rights to refuse such change and to rescind the agreement without cost, penalty or cancellation indemnity by sending us a notice to that effect no later than 30 days after the modification comes into force, if the change entails an increase in your obligations or a reduction in Novo Financial’s obligations. If you do not notify us within that time, the changes will take effect on the date indicated in the notice. In that case, you will be deemed to have agreed to the change which will become part of these Terms and Conditions
If you do not agree to the revised terms and conditions, you must stop using the Novo Financial Service the change relates to. These Terms and Conditions will continue to apply to your previous use of our Novo Financial Service. Amendments and updates that apply to consumers may relate to: (i) the nature of Novo Financial Service; (ii) the rights, obligations and liabilities of consumers and/or Novo Financial; (iii) communications and notices; (iv) password security and identity authentication; (v) payment methods; (vi) sending or withdrawal limits; (vii) account balances; (viii) closing of accounts; (ix) fees, charges and costs associated with Novo Financial Services; (x) restricted activities; (xi) features, rewards and benefits associated with Novo Financial Services; (xii) resolution procedures for unauthorized transactions and processing errors; (xiii) disputes with Novo Financial; (xiv) governing law and jurisdiction; (xv) limitations of liability and warranties; and (xvi) definitions.
9. Pilot or Campaigns
In our efforts to continuously improve our products and services, we may from time to time, offer limited pilots, offers or campaigns in order to solicit feedback on any brand, design, feature, content, or current or potential product and service. The terms and conditions for any of these pilots, offers or campaigns may be different from these terms and conditions. Notice of any different terms and conditions will be disclosed through the pilot, offer or campaign notification or as required by law.
10. Termination and Suspension
We reserve the right to, at our sole discretion, terminate all or part of these Terms and Conditions or any Novo Financial Service, at any time, with or without notice to you. This includes the right to terminate, restrict or suspend your access to or usage of, your Card or Novo Financial Account, or any other Novo Financial Service.
In the event of such termination by you or us, you must immediately repay the outstanding amount that you owe us and follow the Card cancellation process as outlined in these Terms and Conditions.
11. Default
You will be in default of these Terms and Conditions (“Default”), if you:
· fail to make a payment to Novo Financial when the amount is due or if your payment is returned to us or dishonored or if we have reasons to believe that you will be unable to make payment when due;
· are in default of any terms and conditions relating to a Novo Financial Service, including these Terms and Conditions;
· have provided us with false, misleading and inaccurate information;
· in our opinion: (i) commit or attempt to commit fraud; or (ii) abuse our disputes process;
· act in a manner that is unruly, unprofessional, defamatory, threatening or harassing;
· fail to maintain eligibility criteria or if you fail to comply with any part of these Terms and Conditions;
· commence insolvency or bankruptcy proceedings, or if such proceedings are commenced against you by a third party; or
· refuse to cooperate in an investigation; or
· die.
If we, in our sole discretion, determine you to be in Default, for any reason whatsoever, we reserve the right to:
· charge you a non-sufficient funds (NSF) fee;
· request that you immediately repay any outstanding amount that you owe to us;
· suspend, terminate or restrict your current or future access to your Novo Financial Account and/or any of the Novo Financial Service(s);
· exercise any other right we may have under these Terms and Conditions or under law.
12. Limitation of Liability
This section is not applicable to Quebec consumers.
To the fullest extent permitted by applicable laws, Novo Financial will not under any circumstances be liable to you or any other person in any way in contract, tort (including negligence), civil liability or otherwise for any loss or damages (whether direct, indirect, special, economic, incidental, consequential, punitive or exemplary, including without limitation loss of revenue, data, anticipated profits or lost business) in respect of your access to, or lack of access to any Novo Financial product or service, or in respect of our provision of Novo Financial products or services or our suspension or termination of a Novo Financial product or service.
WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.
By opting into the Novo Financial Credit Building Bundle, Novo Financial Cover Bundle or Novo Financial Secured Credit Building Bundle, you agree that the use of the financial coaching service does not constitute financial or investment advice and should not be interpreted as such. The information received through the financial coach should be reviewed by an independent financial or investment professional. You are solely responsible for your own financial and investment research and decisions and Novo Financial will not be responsible for any loss or damage you may incur as a result of your use of the financial coaching service or any other service that Novo Financial may make available in the Novo Financial Credit Building Bundle, Novo Financial Cover Bundle or Novo Financial Secured Credit Building Bundle.
Novo Financial does not guarantee that your credit score will increase solely by accessing the Novo Financial Credit Building Bundle, Novo Financial Cover Bundle or Novo Financial Secured Credit Building Bundle. Credit scores are generated by combining a number of factors and the Novo Financial Credit Building Bundle, Novo Financial Cover Bundle or Novo Financial Secured Credit Building Bundle is one such input.
13. No Warranty of Availability or Uninterrupted Use
We provide the Novo Financial and all other Novo Financial Services “as is” and “as available”. We do not guarantee that the Novo Financial Services and Novo Financial Platform will always be error free or will always function without disruption, delay or imperfections.
From time to time, the Novo Financial App or Novo Financial or Novo Financial Account or Novo Financial Service(s) may be inoperative, and when this happens, you may be unable to use your Novo Financial, Novo Financial Service or Novo Financial Account, including making purchases, obtaining information about the balance on your Card or requesting an advance.
Please notify Novo Financial customer service if you have any problems using your Novo Financial, Novo Financial Service or Novo Financial Account. You agree that we are not responsible for any interruption of service.
14. Indemnification
You agree to indemnify and hold harmless Novo Financial, our affiliates and their respective directors, officer, employees, agents, representatives, shareholders, successors and permitted assigns against any and all loses, damages, claims and liabilities (including reasonable legal fees) which may arise from your use of the Novo Financial Platform, Novo Financial Account or any of the Novo Financial Services.
15. Governing Law
Unless you are a Quebec consumer, these Terms and Conditions are governed by and interpreted in accordance with the laws of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Ontario for any disputes or matters arising from, connected with, or relating to these Terms and Conditions.
If you are a Quebec consumer, these Terms and Conditions are governed by and will be interpreted in accordance with the laws of the province of Quebec and the federal laws of Canada applicable therein, excluding any conflict of laws which would lead to the application of any other laws. You hereby irrevocably submit and attorn to the courts of the province of Quebec for any disputes or matters arising from, connected with, or relating to these Terms and Conditions.
16. Language
These Terms and Conditions are available in English. You hereby confirm that you have expressly requested that these Terms and Conditions and all related documents be drafted in English and that you have agreed to be bound by the English version of these Terms and Conditions.
17. No Waiver
No consent or waiver by either party to, or of any breach or default by, the other party in its performance of its obligations under these Terms and Conditions will be deemed or construed to be a consent to, or a waiver of, a continuing breach or default or any other breach or default of those or any other obligations of that party. No consent or waiver will be effective unless in writing.
18. Severability
If any part of these Terms and Conditions are determined by a court of competent jurisdiction to be unlawful, void, or for any reason unenforceable, then that part will be deemed to be severed from the rest of these Terms and Conditions and will not affect the validity and enforceability of the remainder of these Terms and Conditions, all of which shall remain.
19. Assignment
You may not assign any of your rights or obligations under these Terms and Conditions. We may sell, assign, or transfer all or any of our rights and obligations under these Terms and Conditions at any time to a third party, without notice to you.
20. Entire Agreement
These Terms and Conditions sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or agreements with respect to such subject matter.
21. Contact Novo Financial
You can contact Novo Financial customer service through the Novo Financial App or through web chat. If you wish to speak to an agent, please call 1-905-415-0889 for card activation and for any other query, please schedule a call back through our customer support.
22. Miscellaneous
The Card is issued by HorizonFlare Technology Limited, Unit 620, 15 Allstate Parkway, Markham, ON, Canada, L3R 5B4, pursuant to license by Mastercard International Incorporated.
Mastercard® is a registered trademark of Mastercard International Incorporated. All other trademarks and service marks belong to their respective owners.
