Novel Financial, Inc. and its affiliates (collectively "Novel," "we," or "us") welcome you. This page explains the terms by which you may receive cash back rewards for utilizing our financial services we make available to you on our website located at
https://www.trynovel.com (collectively the "Services").1 By participating in the Novel
Financial, Inc. Cash Back Program (the “Cash Back Program”),2 or otherwise manifesting
understood and agree to this Agreement and our collection, storage, use and disclosure of your personal information as described in this Cash Back Program. Additionally, by
submitting your application to obtain a Novel-branded non-consumer demand deposit
account offered by Blue Ridge Bank, N.A. ("Account"), you signify that you have read,
understood, and agree to be bound by the terms of this Agreement and any terms and
conditions with Blue Ridge Bank, N.A., the banking service provider for your Account.3 You also agree to receive all notices and other communications from us electronically. Novel reserves the right to make unilateral modifications to these terms and will provide notice of these changes by posting an updated version to our legal page. "Company" or "You" means the legal entity that is applying for or that has opened an Account to use the Services and the individual applying for the Account. If you are the individual applying for the Account, you represent and warrant that you are an authorized representative of Company with the authority to bind Company to this Agreement ("Administrator"), and that you agree to this Agreement on Company’s behalf.
1. For the purposes of this Agreement, the term “Services” does not include any banking
services offered by our banking services provider, Blue Ridge Bank, N.A., pursuant to any
account or other agreement entered into by you and Blue Ridge Bank, N.A. with respect to such banking services.
2. The Novel Cash Back Program is not sponsored or endorsed by Blue Ridge Bank, N.A.,
Blue Ridge Bankshares, Inc., Visa U.S.A. Inc., or any of their respective affiliates or service
providers, and none of the foregoing has any responsibility to fulfill any cash back rewards earned through this Cash Back Program.
3. Novel Financial, Inc. is a financial technology company and is not a bank. Banking
services are provided by Blue Ridge Bank, N.A., member FDIC
PLEASE READ THIS AGREEMENT CAREFULLY TO ENSURE THAT YOU
UNDERSTAND EACH PROVISION. THIS AGREEMENT CONTAINS A MANDATORY
INDIVIDUAL ARBITRATION AND CLASS ACTION/JURY TRIAL WAIVER PROVISION
THAT REQUIRES THE USE OF ARBITRATION ON AN INDIVIDUAL BASIS TO RESOLVE
DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS.
All Novel-branded debit cards issued by Blue Ridge Bank, N.A. in the United States, linked to an open Account in good standing, and subscribed to the Novel Plus Plan are eligible to participate in the Cash Bank Program. We may suspend participation in the Cash Back Program (i) if your subscription payment becomes overdue, or (ii) until the Account is otherwise in good standing. We reserve the right to determine in our sole discretion whether a particular cardholder is eligible to participate in the Cash Back Program. Cash back rewards are issued per Novel Plus Plan member.
Cash Back Program enrolment does not require an application. All eligible Novel Plus Plan members are automatically enrolled to earn cash back rewards. Plus Plan members may cancel their participation in the Cash Back Program at any time by sending a written request to opt-out to us at: email@example.com. You will forfeit all unredeemed or pending cash back by opting out.
Earning Cash Back Rewards
Only qualifying transactions with an eligible Novel-branded debit card issued by Blue Ridge Bank, N.A. can earn cash back rewards. You will earn 0.5% cash back each time you use your Novel-branded debit card to pay for purchases.4 ATM transactions and cash advances are not qualifying transactions.
Qualifying transactions are categorised as any non-ATM or cash advance debit card transaction on your Account. Both in-person and online purchases are eligible for cash back rewards. Returned or reversed transactions will not be eligible for cash back rewards or the issuance of any such cash back rewards will be reversed.
We reserve the right to determine in our sole discretion whether a particular transaction is a qualifying transaction. Any returns, credits or chargebacks earn “negative” cash back rewards at the same rate and type earned by the original transaction. The “negative” transaction will be deducted from the total cash back reward earned, as applicable, and the balance will be reflected on your next monthly statement.
Redemption of Cash Back Rewards
Cash back rewards will accumulate throughout the month and be deposited at the end of each month into your Account. If the last day of the month falls outside standard business hours, the cash back rewards will be deposited the following business day.
On the last day of each month, we will automatically redeem each positive transaction for 0.5% cash back to be deposited into your Account. Cash back rewards will not be eligible for redemption if the Account is closed, or any Account has been expelled from membership at Novel Financial, Inc. or otherwise closed by Novel or Blue Ridge Bank, N.A.
Unredeemed Cash Back Rewards
All cash back rewards earned through use of your Novel-branded debit card issued by
Blue Ridge Bank, N.A. will be fulfilled by Novel Financial, Inc. The Novel Cash Back
Program is not sponsored or endorsed by Blue Ridge Bank, N.A., Blue Ridge Bankshares,
Inc., Visa U.S.A. Inc., or any of their respective affiliates or service providers, and none of
the foregoing has any responsibility to fulfill any cash back rewards earned through this
Cash Back Program.
Any accumulated cash back rewards will be forfeited if the Account is closed for any reason prior to the end of the month. You are not entitled to any compensation from us or from any other source, including Blue Ridge Bank, N.A., if your cash back rewards are forfeited for any reason.
Other Redemption Rules
The following other redemption rules apply:
If you close the Account and open a new Account with us, accumulated cash back rewards will be transferred to the new Account. Otherwise, you may not transfer cash back rewards. Cash back rewards cannot be exchanged for credit and cannot be used to pay off any obligation. We may modify, restrict or change the Cash Back Program at any time. Such changes may include changing the value you earn or imposing, increasing or eliminating cash back rewards caps, or changing the conditions under which your cash back rewards expire or are forfeited. We also reserve the right to suspend or terminate the Cash Back Program, or your participation in the Cash Back Program, or to change the redemption value of the cash back rewards already accumulated at any time without compensation to you. You may cancel your participation in the Cash Back Program at any time by sending a written request to opt-out to us at: firstname.lastname@example.org. You will forfeit all unredeemed or pending cash back by opting out. Any cash back rewards offered under this Cash Back Program are void where prohibited by law. Notwithstanding anything in this Agreement to the contrary, we, Visa U.S.A., Inc., Blue Ridge Bank, N.A., Blue Ridge Bank shares, Inc. or any of their respective affiliates or service providers
shall have no liability to you in connection with the Cash Back Program.
By participating in the Novel Cash Back Program, you authorize us to act as your agent to access on your behalf information about your Account maintained by Blue Ridge Bank, N.A. You further expressly authorize Blue Ridge Bank, N.A. to disclose this information to us.
Governing Law, Arbitration, and Class Action/Jury Trial Waiver
1. Governing Law. You agree that: (i) the Services shall be deemed solely based in
California; and (ii) the Services shall be deemed a passive one that does not give
rise to personal jurisdiction over us, either specific or general, in jurisdictions other
than California. This Agreement shall be governed by the internal substantive laws of
the State of California, without respect to its conflict of laws principles. The parties
acknowledge that this Agreement evidences a transaction involving interstate
commerce. Notwithstanding the preceding sentences with respect to the substantive
law, any arbitration conducted pursuant to the terms of this Agreement shall be
governed by the Federal Arbitration Act (9 U.S.C. §§ 1-16). You agree to submit to
the personal jurisdiction of the federal and state courts located in San Francisco
County, California for any actions for which we retain the right to seek injunctive or
other equitable relief in a court of competent jurisdiction to prevent the actual or
threatened infringement, misappropriation or violation of our copyrights, trademarks,
trade secrets, patents, or other intellectual property or proprietary rights, as set forth
in the Arbitration provision below, including any provisional relief required to prevent
irreparable harm. Subject to Section 9B, you agree that the federal or state courts
located in San Francisco County, California is the proper forum for any appeals of an
arbitration award or for trial court proceedings in the event that the Arbitration
provision below is found to be unenforceable.
2. Arbitration. READ THIS SECTION CAREFULLY BECAUSE IT REQUIRES THE
PARTIES TO ARBITRATE THEIR DISPUTES AND LIMITS THE MANNER IN
WHICH YOU CAN SEEK RELIEF FROM NOVEL. For any claim, dispute, or
controversy with Novel (a "Claim"), you agree to first contact us at
email@example.com and attempt to resolve the dispute with us informally. In the
unlikely event that Novel has not been able to resolve a dispute it has with you after
sixty (60) days, such dispute will be finally and exclusively resolved by binding
arbitration governed by the Federal Arbitration Act ("FAA"). Any election to arbitrate,
at any time, shall be final and binding on the other party. NEITHER PARTY SHALL
HAVE THE RIGHT TO LITIGATE SUCH CLAIM IN COURT OR TO HAVE A JURY
TRIAL, EXCEPT EITHER PARTY MAY BRING ITS CLAIM IN ITS LOCAL SMALL
CLAIMS COURT, IF PERMITTED BY THAT SMALL CLAIMS COURT RULES AND
IF WITHIN SUCH COURT’S JURISDICTION. ARBITRATION IS DIFFERENT FROM
COURT, AND DISCOVERY AND APPEAL RIGHTS MAY ALSO BE LIMITED IN
ARBITRATION. All disputes will be resolved before a neutral arbitrator selected
jointly by the parties, whose decision will be final, except for a limited right of appeal
under the FAA. The arbitration shall be commenced and conducted by JAMS
pursuant to its then current Comprehensive Arbitration Rules and Procedures and in
accordance with the Expedited Procedures in those rules, or, where appropriate,
pursuant to JAMS’ Streamlined Arbitration Rules and Procedures. All applicable
JAMS’ rules and procedures are available at the JAMS website www.jamsadr.com.
Each party will be responsible for paying any JAMS filing, administrative, and
arbitrator fees in accordance with JAMS rules. Judgment on the arbitrator’s award
may be entered in any court having jurisdiction. This clause shall not preclude parties
from seeking provisional remedies in aid of arbitration from a court of appropriate
jurisdiction. The arbitration may be conducted in person, through the submission of
documents, by phone, or online. If conducted in person, the arbitration shall take
place in the United States county where you reside. The parties may litigate in court
to compel arbitration, to stay a proceeding pending arbitration, or to confirm, modify,
vacate, or enter judgment on the award entered by the arbitrator. The parties shall
cooperate in good faith in the voluntary and informal exchange of all non-privileged
documents and other information (including electronically stored information)
relevant to the Claim immediately after commencement of the arbitration. Nothing in
this Section shall be deemed as preventing either party from seeking injunctive or
other equitable relief from the courts as necessary to prevent the actual or
threatened infringement, misappropriation, or violation of our data security,
Intellectual Property Rights or other proprietary rights. Proceedings and information
related to them will be maintained as confidential, including the nature and details of
the Claim, evidence produced, testimony given, and the outcome of the Claim,
unless such information was already in the public domain or was independently
obtained. Company and Novel, and all witnesses, advisors, and arbitrators will only
share such information as necessary to prepare for or conduct arbitration or other
legal proceeding, or enforcement of the outcome, unless additional disclosure is
required by law.
3. Class Action Waiver. You agree that any arbitration or proceeding shall be limited to
the Claims between us and you individually. To the full extent permitted by law, (i) no
arbitration or proceeding shall be joined with any other; (ii) there is no right or
authority for any Claim to be arbitrated or resolved on a class action-basis or to
utilize class action procedures; and (iii) there is no right or authority for any Claim to
be brought in a purported representative capacity on behalf of the general public or
any other persons. YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST US
ONLY IN YOUR INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS
MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.
1. Assignment. This Agreement, and any rights and licenses granted hereunder, may
not be transferred or assigned by you, but may be assigned by Novel without
restriction. Any attempted transfer or assignment in violation hereof shall be null and
2. Notification Procedures and Changes to the Agreement. You consent to us providing
notices to you under this Agreement electronically and understand that this consent
has the same legal effect as a physical signature. We will provide notices to you
electronically through your Account, and via text or SMS to the phone numbers
provided to us by Administrators and Users. If you sign up to receive certain Novel
notifications or information via text or SMS, you may incur additional charges from
your wireless provider for these notices. You agree that you are solely responsible
for any such charges. Notices affecting the terms of this Agreement will be sent to
Administrators and are considered received twenty-four (24) hours after they are
sent. You understand that you may not use the Services unless you consent to
receive notices from us electronically. You may only withdraw consent to receive
notices electronically by closing your Account. Notices may include alerts about the
Services, your Account, and your Deposit Account and may provide Administrators
and Users the ability to respond with information about Deposit Account transactions
or your Account. Administrators and Users may disable notification preferences to
limit the use of certain Service features or to decrease financial risks to the
Company. Administrators and Users are required to maintain a regularly updated
web browser, and computer and mobile device operating systems to receive notices
correctly. Administrators and Users will be responsible for all costs imposed by
internet or mobile service providers for sending or receiving notices electronically.
Contact us immediately at firstname.lastname@example.org if you are having trouble receiving
notices from us.
3. Entire Agreement/Severability. This Agreement, together with any amendments and
any additional agreements you may enter into with Novel in connection with the
Services, shall constitute the entire agreement between you and Novel concerning
your Account and the Services. If any provision of this Agreement is deemed invalid
by a court of competent jurisdiction, the invalidity of such provision shall not affect
the validity of the remaining provisions of this Agreement, which shall remain in full
force and effect, except that in the event of unenforceability of the universal Class
Action/Jury Trial Waiver, the entire arbitration agreement shall be unenforceable.
4. No Waiver. No waiver of any term of this Agreement shall be deemed a further or
continuing waiver of such term or any other term, and Novel’s failure to assert any
right or provision under this Agreement shall not constitute a waiver of such right or
5. Legal Orders. We may respond to and comply with any subpoenas, warrants, liens,
or any other legal order we receive related to your use of the Services. We are not
responsible to you for any losses you incur due to our response to such legal order.
We may hold funds or provide information as required by the issuer of the legal order
or take any other actions we believe are required of us under legal orders. Where
permitted, we will provide you reasonable notice that we have received such an