Novo’s Invoicing Referral Program

As part of Novo’s Invoicing Referral Program and Promotional Offer (“Terms”), a referral link will be embedded within each invoice sent to eligible payors (“Payor”) by a Referring User. By clicking on the referral link, Payor agrees to Novo’s Privacy and Security Policy and will be directed to an onboarding page where they may complete the process of opening a Novo business checking account (“Account”) with Novo Platform Inc. or its affiliates (collectively “Novo”). This promotional offer is conditional on your acceptance of and compliance with the following Terms:

Capitalized terms in this Agreement have the meanings given in Novo’s 'Referral Agreement,' unless defined otherwise herein.

1. Payor Eligibility
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To be eligible for the Invoicing Referral Program, Payor must:

• Not have an existing Novo Account or have previously held one.
• Use the same email address associated with the invoice Payor received during the Account opening process.

2. Qualifying Steps
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To qualify for the promotional bonus, Payor must:

• Open a new Novo business checking account using the email address linked to the invoice.
• Ensure that the Account is opened within the validity period referenced in the offer language and meets Novo’s eligibility criteria (subject to Novo’s final determination and acceptance).
• Deposit a minimum of $100 into the Account within 30 days of the Account Opening Date.
• Maintain an average balance of $100 or more for at least 30 consecutive days after the initial deposit.

For detailed eligibility criteria and restrictions, please refer to our blog page & Referral Program.

3. Promotional Bonus
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Once the Payor fulfills all eligibility requirements, a one-time promotional bonus, as specified in the Invoicing Referral Program offer, will be credited to Payor’s new Novo Account.

• The bonus will be credited within 30 days of taking the qualifying steps and meeting the eligibility criteria.
• Bonuses may be reported as interest income and could be subject to tax, which may require issuance of IRS Form 1099-INT (or Form 1042-S, if applicable).

4. Program Limitations
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• Each Payor may only use the email address associated with the invoice Payor received to Open an Account. Multiple invoices do not entitle Payor to additional bonuses. 
• If the Payor does not meet the necessary qualifications and criteria within the required timeframe, the promotional bonus will not be awarded.
• The award of the promotional bonus is at Novo’s sole discretion and is final.

5. Additional Information
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• Novo reserves the right to modify or withdraw the Referral Program and its Terms at any time without prior notice.
• Novo reserves the right to revoke the promotional bonus and disqualify any Payor from participation if the Account activity is determined to be abusive, fraudulent, or in violation of these Terms or Novo’s Terms of Use.
• Employees of Novo and its subsidiaries and affiliates are not eligible for this offer.
• Novo is a fintech company and not a bank. Banking services are provided by Middlesex Federal Savings F.A., Member FDIC.

Novo Accounts are subject to our Terms of Use, Privacy and Security Policy, and the E-sign and Electronic Communications Agreement.