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Licenses.

Licenses we hold.

Novi is registered as a Money Services Business (MSB) #31000180368263 with the U.S. Financial Crimes Enforcement Network (FinCEN). Novi maintains the National Multistate Licensing System ID# 1832154 and holds the following state licenses:

Jurisdiction / Regulator

License

Agency

Alabama

Money Transmitter License, 791

Alabama Securities Commission Enforcement Division P.O. Box 304700 Montgomery, AL 36130-4700

Alaska

Money Transmission License, AK-MT-014925

Department of Commerce, Community and Economic Development Division of Banking and Securities 550 West 7th, Suite 1850 Anchorage, Alaska 99501

Arizona

Money Transmitter License, 1007804

Arizona Department of Financial Institutions 100 N 15th Ave Suite 261 Phoenix, AZ 85007

Arkansas

Money Transmitter License, 118643

Arkansas Securities Department #1 Commerce Way, Suite 402 Little Rock, Arkansas 72202

Colorado

Money Transmitter License, 500273

Colorado Division of Banking 1560 Broadway, Suite 975 Denver, CO 80202

Connecticut

Money Transmitter License, MT-1832154

Connecticut Department of Banking Consumer Credit Division 260 Constitution Plaza Hartford, CT 06103-1800

District of Columbia

Money Transmitter License, MTR1832154

District of Columbia Department of Insurance, Securities and Banking 1050 First Street, NE, 801 Washington, DC 20002

Florida

Money Transmitter License, FT230000299

Florida Office of Financial Regulation 200 E. Gaines Street Tallahassee, FL 32399-0376

Georgia

Seller of Payment Instruments License, 65793

Georgia Department of Banking and Finance Money Services Businesses 2990 Brandywine Road, Suite 200 Atlanta, GA 30341-5565

Idaho

Money Transmitter License, MTL-273

Idaho Department of Finance 800 Park Blvd, Suite 200 Boise, ID 83712

Illinois

Money Transmitter License, MT.0000375

Illinois Department of Financial and Professional Regulation Division of Financial Institutions 320 W. Washington Springfield, IL 62786

Iowa

Money Services License, 2019-0029

Iowa Division of Banking 200 East Grand Avenue, Suite 300 Des Moines, IA 50309-1827

Kansas

Money Transmitter License, MT.0000176

Kansas Office of the State Bank Commissioner 700 SW Jackson, Suite 300 Topeka, KS 66603

Kentucky

Money Transmitter License, SC722265

Kentucky Department of Financial Institutions 500 Mero Street, 2SW19 Frankfort, KY 40601

Maine

Money Transmitter License, no specific number assigned

Department of Professional and Financial Regulation Bureau of Consumer Credit Protection 35 State House Station Augusta, Maine 04333

Maryland

Money Transmitter License, 12-1832154

Maryland Commissioner of Financial Regulation 500 North Calvert Street, Suite 402 Baltimore, Maryland 21202

Massachusetts

Foreign Transmittal Agency, FT1832154

Commonwealth of Massachusetts Division of Banks 1000 Washington Street, 10th Floor Boston, Massachusetts 02118-6400

Michigan

Money Transmitter License, 0022097

Michigan Department of Insurance and Financial Services PO Box 30220 Lansing, MI 48909-7720

Minnesota

Money Transmitter License, MN-MT-1832154

Minnesota Department of Commerce 85 7th Place East, Suite 280 Saint Paul, MN 55101

Mississippi

Money Transmitter License, 1832154

Mississippi Department of Banking and Consumer Finance P.O. Box 12129 Jackson, MS 39236-2129

Missouri

Sale of Checks and Money Transmitter License, MO-21-8721

Missouri Division of Finance PO Box 716 Jefferson City, MO 65102-0716

Nebraska

Money Transmitter License, no specific number assigned

Nebraska Department of Banking and Finance 1526 K Street, Suite 300 Lincoln, NE 68508-2732

New Hampshire

Money Transmitter License, 23492-MT

State of New Hampshire Banking Department 53 Regional Drive, Suite 200 Concord NH 03301

New Jersey

Money Transmitter License, 1904015

New Jersey Division of Banking and Insurance PO Box 471 Trenton, NJ 08625-0471

New Mexico

Money Transmission License, no specific number assigned

New Mexico Regulation and Licensing Department Financial Institutions Division P.O. Box 25101 Santa Fe, NM 87504-5101

North Carolina

Money Transmitter License, 183991

North Carolina Commissioner of Banks 316 W. Edenton Street Raleigh, NC 27603

North Dakota

Money Transmitter License, MT103653

North Dakota Department of Financial Institutions 1200 Memorial Highway Bismarck, ND 58504

Ohio

Money Transmitter License, OHMT174

Ohio Department of Commerce Division of Financial Institutions 77 South High Street 21st Floor Columbus, OH 43215-6120

Oklahoma

Money Transmission License, no specific number assigned

Oklahoma State Banking Department 2900 North Lincoln Boulevard Oklahoma City, Oklahoma 73105

Oregon

Money Transmitter License, 30230

Oregon Division of Financial Regulation P.O. Box 14480 Salem, OR 97309-0405

Pennsylvania

Money Transmitter License, 76391

Pennsylvania Department of Banking and Securities 17 N. 2nd Street, Suite 1300 Harrisburg, PA 17101

Puerto Rico

Money Transmitter License, TM-100

Puerto Rico Bureau of Financial Institutions PO Box 11855 San Juan, Puerto Rico 00910-3855

Rhode Island

Currency Transmitter License, 20203904CT

State of Rhode Island Department of Business Regulation 1511 Pontiac Avenue, Bldg 68-2 Cranston, RI 02920

South Carolina

Money Transmitter License, no specific number assigned

Office of the Attorney General Money Services Division PO Box 11549 Columbia, SC 29211-1549

South Dakota

Money Transmitter License, MT.2173

South Dakota Department of Labor and Regulation Division of Banking 1601 N. Harrison Avenue, Suite 1 Pierre, South Dakota 57501

Texas

Money Transmitter License, 3213

Texas Department of Banking 2601 North Lamar Boulevard Austin, Texas 78705

Vermont

Money Transmitter, 100-163

State of Vermont Department of Financial Regulation 89 Main Street Montpelier, VT 05620-3101

Virginia

Money Order Seller and Money Transmitter License, MO-390

Bureau of Financial Institutions State Corporation Commission 1300 East Main Street, Suite 800 P.O. Box 640 Richmond, Virginia 23218-0640

Washington

Money Transmitter License, 550-MT-117855

State of Washington - Department of Financial Institutions Division of Consumer Services 150 Israel Road, S.W. Tumwater, WA 98501

West Virginia

Money Transmitter License, WVMT-1832154

West Virginia Division of Financial Institutions 900 Pennsylvania Avenue Suite 306 Charleston, WV 25302-3542

State disclosures.

Recipient may receive less than the full amount sent by Sender due to fees and taxes charged by third party service providers.

All transactions are irrevocable once confirmed and delivered to the recipient. For cash withdrawals and deposits, you can cancel your transaction any time prior to collecting or depositing your cash with a third-party service provider. Novi is not liable for any delay in the estimated delivery of the funds or once the funds have been delivered according to your instructions using the app.

Novi currently supports USDP (Pax Dollar) issued by Paxos Trust Company, LLC, a New York-based financial institution. National Multistate Licensing System ID# 1766787. Terms and Conditions available here.

State

Disclosure

Alaska

Please note that this license does not cover the transmission of virtual currency

For Alaska Residents Only:

If your issue is unresolved by Novi Financial, Inc. at (855)-650-0630, or by using the chat functionality in the application, please submit formal complaints with the State of Alaska, Division of Banking and Securities. Please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf

Submit formal complaint forms via:

1. Fax: 907-465.1230

2. Email: dbs.licensing@alaska.gov

3. Mail: Division of Banking and Securities PO Box 110807 Juneau, AK 99811-0807

If you have questions regarding formal complaints, please call 907-465-2521

Colorado

CUSTOMER NOTICE

Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmitters Act, Title 11, Article 110, Colorado Revised Statutes.

If you have a Question about or Problem with YOUR TRANSACTION – THE MONEY YOU SENT

You must contact the Money Transmitter who processed your transaction for assistance. The Division of Banking does not have access to this information.

If you are a Colorado Resident and have a Complaint about THE MONEY TRANSMITTER – THE COMPANY THAT SENT YOUR MONEY

ALL complaints must be submitted in writing. Please fill out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at:

Colorado Division of Banking

1560 Broadway, Suite 975

Denver, CO 80202

email: DORA_BankingWebsite@state.co.us

website: https://banking.colorado.gov/industry/money-transmitters

Section 11-110-120, C.R.S. requires that money transmitters and money order companies post this notice in a conspicuous, well-lighted location visible to customers.

Florida

NOTICE: By the Florida Office of Financial Regulation

BY GRANTING NOVI FINANCIAL, INC. A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.

  • U.S. currency is legal tender backed by the U.S. government.

  • Digital and virtual currencies are not issued or backed by the U.S. government, or related in any way to U.S. currency, and have fewer regulatory protections.

  • The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat (government) currency.

  • Holding digital and virtual currencies carries exchange rate and other types of risk.

POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY. PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES.

If you have a question or complaint, please contact us at (855)-650-0630 or using the chat functionality in the application.

Florida residents may contact the Florida Office of Financial Regulation with any unresolved questions or complaints about Novi Financial, Inc. at 200 E. Gaines Street, Tallahassee, FL 32399-0376, telephone number: (800) 848-3792 (toll free).

Hawaii

Novi Financial, Inc. is providing services to you as a participant in a special Hawaii project which ends on December 31, 2022. At the end of the project term, Novi Financial, Inc. may be required to close all accounts for Hawaii customers and cease operations. Novi Financial, Inc. will notify Hawaii customers in advance if accounts must be closed.

Hawaii customers who choose to open accounts with Novi Financial, Inc. are advised that the virtual currency or digital currency purchased, whether as an investment, for making payments, or other purposes, may lose value, including the loss of some or all of your original purchase amount.

Illinois

If you have a complaint, first contact us at (855)-650-0630 or use the chat functionality in the application. If you still have an unresolved complaint regarding Novi Financial, Inc.’s money transmission activity, please direct your complaint to:

Illinois Department of Financial and Professional Regulation

Division of Financial Institutions

320 W. Washington

Springfield, IL 62786

1-888-473-4858 (toll-free)

Maryland

The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding Novi Financial, Inc. (License No. 12-1832154 and NMLS ID: 1832154) by contacting the Commissioner’s office at:

500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, or (888) 784-0136.

Massachusetts

To file a complaint, contact:

Commonwealth of Massachusetts Division of Banks

Attn: Consumer Assistance Unit

1000 Washington Street, 10th Floor

Boston, Massachusetts 02118-6400

Tel: (800) 495-BANK (2265)

https://www.mass.gov/orgs/division-of-banks

Minnesota

If you have a complaint, first contact us at (855)-650-0630 or use the chat functionality in the application. If you still have an unresolved complaint regarding Novi Financial, Inc.’s money transmission activity, please direct your complaint to:

Minnesota Department of Commerce

85 7th Place East, Suite 280

Saint Paul, MN 55101

Tel: 800-657-3602

consumer.protection@state.mn.us

Texas

If you have a complaint, please contact Novi Financial, Inc.’s consumer assistance at (855)-650-0630 or using the chat functionality in the application.

If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to:

Texas Department of Banking

2601 North Lamar Boulevard

Austin, Texas 78705

1-877-276-5554 (toll free)

www.dob.texas.gov

Washington

The nature of virtual currency may lead to an increased risk of fraud or cyber attack and your virtual currency value may be irretrievably stolen.

If you have a complaint, first contact us at (855)-650-0630 or using the chat functionality in the application, and if you still have an unresolved complaint regarding Novi Financial, Inc.’s money transmission activity, please contact the Washington State Department of Financial Institutions, Division of Consumer Services using one of the following methods:

File a complaint online, mail or fax: https://dfi.wa.gov/consumers/loan-complaints

Call us: 1-877-RING DFI (1-877-746-4334)

Email us: CSEnforceComplaints@dfi.wa.gov


Exchange rates and currencies shown are for illustrative purposes only. Novi and the Novi logo are trademarks owned by Facebook, Inc. Other names and brands may be claimed as the property of others.

© 2021, Novi Financial, Inc. or its affiliates. 

All rights reserved. NMLS ID # 1832154.