Refunds on Novi
If you suspect that there's been an error or unauthorised transaction on your Novi account, please contact us as soon as possible, but no later than 120 calendar days from the date of the transaction. If we determine at our sole discretion that a transaction is erroneous or unauthorised, we'll provide a full refund.
Below are two lists: (1) Scenarios that may be eligible for a refund, and (2) Scenarios that are ineligible for a refund. We may modify these lists at any time at our sole discretion without notice.
Transactions eligible for refund
This list does not address every scenario that may be eligible for a refund, but is meant to be a guide for you.
A transaction that you did not authorise ("Unauthorised Transaction") may be eligible for a refund if someone used your Novi account to:
- Send money from your Novi account; or
- Withdraw money from your Novi account by transferring money to a bank account or picking up cash at a withdrawal location.
We may also refund you if there was a mistake made by Novi ("Erroneous Transaction"), such as:
- Novi made a computational or bookkeeping error;
- Novi debited or credited the incorrect amount to your Novi account;
- Your transaction history does not accurately reflect a transaction; or
- You failed to receive a transaction confirmation or the amounts displayed on your transaction confirmation and transaction receipt differ.
Transactions ineligible for refund
This list does not address every scenario ineligible for a refund, but is meant to be a guide for you.
Novi will not provide a refund where you file a claim with Novi and you also dispute the charge or ask your debit card issuer or financial institution to reverse a charge (typically referred to as a "chargeback") for the same transaction. We do this to avoid scenarios where you may be refunded twice for the same transaction.
Novi also does not provide a refund for a transaction that:
- You initially authorised and then later decided that you wanted to rescind or revoke;
- Results from you entering incorrect bank account information when you added a bank account to your Novi account;
- Results from you sending money to the wrong person;
- Results from you buying or selling a good or service from a third party (including one that presents itself as a charity or other organisation). Note: Novi does not support merchant services, and any transactions conducted to buy or sell a good or service is at your own risk;
- Someone else initiated, including someone you know; or
- Results from someone accidentally sending you money.