Terms of Service

Last updated: January 9, 2025

Agreement to Terms

By accessing or using Penny Finance Tracker ("Penny," "we," "us," or "our"), including our mobile applications (iOS and Android) and web service at app.pennyfinance.net, you agree to be bound by these Terms of Service ("Terms").

If you do not agree to these Terms, please do not use our services. We reserve the right to modify these Terms at any time, and your continued use of Penny constitutes acceptance of any changes.

Description of Service

Penny is a personal finance application that helps users:

  • Track debts and calculate payoff strategies (snowball and avalanche methods)
  • Create and manage budgets
  • Connect bank accounts through Plaid for automatic transaction syncing
  • Visualize financial progress with charts and projections

The service is provided for personal, non-commercial use only. Penny is not a financial advisor, bank, or lender. The information provided should not be considered financial, investment, or legal advice.

Eligibility and Account Registration

To use Penny, you must:

  • Be at least 13 years of age (or 16 in the European Economic Area)
  • Be at least 18 years of age to subscribe to paid plans
  • Register using a valid Google or Apple account
  • Provide accurate and complete information
  • Maintain the security of your account credentials
  • Notify us immediately of any unauthorized access to your account

You are responsible for all activities that occur under your account. We reserve the right to refuse service or terminate accounts at our discretion.

Subscription Plans and Payments

Penny offers a single subscription plan ("Penny") that provides full access to all features, including debt tracking and payoff strategies, bank syncing, smart budgeting, charts and insights, data export, and priority support.

Free Trial

New users may be eligible for a 7-day free trial with full access to all features. After the trial period, continued access requires an active paid subscription.

Pricing

Current subscription pricing (monthly and yearly options) is displayed in the app at the time of purchase. Prices are subject to change with 30 days advance notice.

Payment Terms

  • Subscriptions are billed monthly through Stripe or the App Store/Google Play
  • Payment is charged at the start of each billing period
  • Subscriptions auto-renew unless cancelled before the renewal date
  • You may cancel your subscription at any time through your account settings or the respective app store
  • No refunds for partial billing periods, except as required by law or app store policies
  • Prices may change with 30 days advance notice

App Store Purchases

If you subscribe through the Apple App Store or Google Play Store, the purchase is subject to the respective store's terms and conditions. Billing and refund inquiries for in-app purchases should be directed to the appropriate app store.

Acceptable Use Policy

You agree to use Penny only for lawful purposes. You agree NOT to:

  • Use the service for any illegal purpose or in violation of any applicable laws
  • Attempt to gain unauthorized access to our systems, other users' accounts, or connected bank accounts
  • Interfere with or disrupt the service or servers
  • Reverse engineer, decompile, or disassemble the application
  • Share your account credentials with others
  • Use automated systems (bots, scrapers) to access the service
  • Circumvent any rate limits or usage restrictions
  • Transmit viruses, malware, or other harmful code
  • Impersonate another person or entity
  • Use the service to harass, abuse, or harm others

Violation of these terms may result in immediate termination of your account.

Bank Account Connection (Plaid)

By connecting your bank accounts through Plaid:

  • You authorize Penny and Plaid to access your financial account information
  • You understand this data is used solely to provide the services described
  • You acknowledge that Plaid's terms and privacy policy also apply
  • You can disconnect accounts at any time through the app settings
  • You understand we receive read-only access and cannot initiate transactions

We are not responsible for:

  • The accuracy or completeness of data provided by your financial institutions
  • Delays or failures in data synchronization
  • Changes to your financial institution's policies affecting connectivity

Intellectual Property

The Penny service, including its design, features, code, content, and trademarks, is owned by Penny Finance and protected by intellectual property laws.

You are granted a limited, non-exclusive, non-transferable license to use Penny for personal, non-commercial purposes. This license does not include the right to:

  • Modify or create derivative works
  • Distribute, publicly display, or publicly perform the service
  • Use any data mining, robots, or similar data gathering methods

User Content

You retain ownership of any content you create in Penny (debt entries, budgets, notes, etc.). By using the service, you grant us a license to store, process, and display this content as necessary to provide the service.

You are responsible for ensuring you have the right to input any information into the app.

Disclaimer of Warranties

PENNY IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO:

  • WARRANTIES OF MERCHANTABILITY
  • FITNESS FOR A PARTICULAR PURPOSE
  • NON-INFRINGEMENT
  • ACCURACY OR RELIABILITY OF CONTENT

We do not warrant that:

  • The service will be uninterrupted, secure, or error-free
  • Results from the service will be accurate or reliable
  • The quality of any information will meet your expectations
  • Any errors will be corrected

IMPORTANT: Penny is not a financial advisor. The debt payoff projections, budget recommendations, and other financial calculations are for informational purposes only and should not be relied upon as financial advice. Consult a qualified financial professional for personalized advice.

Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, PENNY AND ITS OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS SHALL NOT BE LIABLE FOR:

  • Any indirect, incidental, special, consequential, or punitive damages
  • Loss of profits, data, use, or goodwill
  • Any damages arising from your use or inability to use the service
  • Any conduct or content of third parties
  • Unauthorized access to or alteration of your data

In no event shall our total liability exceed the greater of (a) the amount you paid for the service in the 12 months preceding the claim, or (b) $100 USD.

Some jurisdictions do not allow the exclusion of certain warranties or limitation of liability, so some of the above limitations may not apply to you.

Indemnification

You agree to indemnify and hold harmless Penny, its officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

  • Your use of the service
  • Your violation of these Terms
  • Your violation of any third-party rights
  • Any content you submit or transmit through the service

Termination

We reserve the right to suspend or terminate your account at any time, with or without notice, for:

  • Violation of these Terms
  • Suspected fraudulent or illegal activity
  • Extended periods of inactivity
  • Request by law enforcement or government agency
  • Discontinuation of the service

You may delete your account at any time through the app settings or by contacting support@pennyfinance.net.

Upon termination, your right to use the service immediately ceases. We may retain certain data as required by law or for legitimate business purposes.

Dispute Resolution

Any disputes arising from these Terms or your use of Penny shall be resolved through:

  1. Informal Resolution: Contact us at support@pennyfinance.net to attempt to resolve the dispute informally.
  2. Binding Arbitration: If informal resolution fails, disputes will be resolved through binding arbitration in accordance with the rules of the American Arbitration Association.

You agree to waive any right to participate in class actions or class arbitrations.

This arbitration agreement does not apply where prohibited by law or for disputes that qualify for small claims court.

Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of California, United States, without regard to its conflict of law provisions.

Changes to Terms

We may update these Terms of Service from time to time. We will notify you of significant changes by:

  • Posting the updated Terms on this page
  • Updating the "Last updated" date
  • Providing notice in the app for material changes

Continued use of Penny after changes constitutes acceptance of the new Terms.

Severability

If any provision of these Terms is found to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary, and the remaining provisions shall remain in full force and effect.

Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Penny regarding the use of our service and supersede any prior agreements.

Contact Us

If you have any questions about these Terms of Service, please contact us:

Email: support@pennyfinance.net
Website: https://pennyfinance.net