Penny

Terms of Service

Last updated: September 12, 2026

Agreement to Terms

These Terms of Service ("Terms") are an agreement between you and Penny Finance LLC ("Penny," "we," or "us") and govern your use of Penny's app, website, and related services (the "Service"). By using the Service, you agree to these Terms. If you do not agree, do not use the Service. Our Privacy Policy explains how we handle personal information.

You must be at least 18 years old and legally able to enter into this agreement to use Penny.

Description of Service

Penny helps you organize financial records and understand your spending and financial position. You can:

  • Connect and aggregate financial accounts
  • Track transactions and categorize spending
  • Add manual entries, notes, and receipts, and track recurring transactions
  • Share financial records within a household
  • View financial insights and reports

Feature availability may depend on your subscription, device, region, and supported financial institutions.

Service Changes

We may change features or suspend parts of the Service for maintenance, security, legal, or operational reasons. When reasonably possible, we will give advance notice of material changes that reduce or discontinue paid features. Changes remain subject to applicable consumer rights and the billing and refund provisions below.

Account Registration

To use certain features of the Service, you must register for an account. You agree to:

  • Provide accurate, current, and complete information
  • Maintain and promptly update your account information
  • Keep your password, sign-in credentials, and any API tokens secure
  • Use only accounts and financial information you are authorized to access and share
  • Take responsibility for your use of the Service and access you authorize
  • Notify us immediately of any unauthorized use

Household Accounts

If you create or join a household within Penny, you acknowledge that:

  • Accounts, balances, transactions, notes, receipts, and related financial activity added to the household are shared with all household participants. The owner and anyone with the Member role can edit and delete this data, including data added by someone else. Viewers have read-only access
  • You are responsible for only inviting trusted individuals to your household
  • Leaving or being removed ends your access to the household. Accounts, transactions, and other financial information you added remain shared with the remaining participants according to their roles. Leaving does not revoke bank connections, and connected accounts may continue to receive new data
  • Owners cannot leave while they own the household. They must first transfer ownership to another participant, or delete the household. Contact us for help transferring ownership
  • The household owner may remove members or delete the household at any time

Before leaving, revoke any financial connections you want to stop sharing through Plaid, your bank, or Apple's Wallet sharing controls, as described in our Privacy Policy. Revoking a connection stops future retrieval through that connection; it does not delete information already imported into the household.

To remove imported accounts and transactions from normal household views, use Delete Account in the account's edit screen before leaving. A Viewer must ask the owner or a Member to do this. This does not immediately erase the records or revoke bank access, and retained records may be restored. Participants may also retain copies previously downloaded or received by email. For personal-information deletion requests, contact privacy@penny.finance.

Subscriptions and Billing

Plans and Payment

Penny offers paid subscriptions through Apple's App Store, including monthly and annual plans. The purchase screen shows the price, currency, billing period, and any applicable trial or introductory offer before you confirm. Monthly plans are billed each month; annual plans are billed for the full year, even if a monthly equivalent is shown for comparison. Apple processes payments through the Apple Account used for the purchase, subject to the Apple Media Services Terms and Conditions.

Automatic Renewal

Subscriptions renew automatically for successive billing periods unless you cancel. Apple charges your Apple Account at purchase confirmation, or after any applicable free trial, and may charge for renewal during the 24 hours before the next period begins. To avoid the next charge, cancel at least 24 hours before your current billing period or trial ends.

Free Trials and Introductory Offers

Trials and introductory offers are available only to eligible users and plans, as shown at purchase. Unless you cancel in time, a free trial automatically converts to a paid subscription at the price and billing period disclosed when you signed up. When an introductory discount ends, the disclosed regular subscription price applies. Check Apple's subscription settings for your next billing date and the expiration date if you cancel a trial.

Cancellation and Account Deletion

You can manage or cancel your subscription in iPhone Settings → [your name] → Subscriptions → Penny → Cancel Subscription, using the Apple Account that purchased it. See Apple's cancellation instructions.

Cancellation stops future renewals. You normally retain subscription access until the end of the paid billing period, unless Apple refunds or revokes the purchase or your account is terminated under these Terms. Subscription access ends when the subscription expires.

Deleting Penny from your device does not cancel an App Store subscription. Deleting your Penny account or household, leaving a household, or simply stopping use of Penny does not cancel it either. You must cancel separately through Apple to stop future subscription charges.

Refunds

Cancellation does not automatically refund a payment already made or unused time in a billing period. For App Store purchases, request a refund through Apple's refund service. Apple handles refund requests under its policies and applicable law; Penny cannot issue App Store refunds directly. See Apple's refund guidance. Nothing in these Terms limits any refund or other consumer rights you have under applicable law.

Price Changes

We may change subscription prices for future billing periods. Apple will notify affected subscribers before an increase takes effect and obtain consent where required by its rules or applicable law. If required consent is not given, the subscription will expire at the end of the current billing period. You can cancel before the new price takes effect. A price change does not change the price of a billing period already paid for.

Household Coverage

An active subscription or eligible trial held by a Penny household owner covers that household and its members; members do not need a separate subscription to use that household. The owner's subscription covers all Penny households they own. A subscription held only by a non-owner member does not provide coverage for that household.

Shared access depends on an owner maintaining an active subscription or trial and on your continued household membership. If the owner's coverage expires or ownership transfers to someone without an active subscription or trial, the household loses subscription access. Household coverage is managed through Penny household membership and does not itself grant Apple Family Sharing benefits. The purchaser remains responsible for managing billing and cancellation through their Apple Account.

Subscription expiration does not automatically delete household data. Household owners can still request data exports, and participants retain access to the controls for leaving or managing household membership that are available to their role.

Acceptable Use

You agree not to:

  • Use the Service for any unlawful purpose
  • Attempt to gain unauthorized access to any part of the Service
  • Interfere with or disrupt the Service or servers
  • Transmit any viruses, malware, or harmful code
  • Collect, disclose, or misuse another person's information without authorization
  • Use the Service to send spam or unsolicited communications
  • Impersonate any person or entity

Financial Data

Third-Party Connections

Penny imports financial records through Plaid and, for eligible Apple Wallet accounts, FinanceKit. By using these features, you:

  • Authorize us to import the account information you choose to share and confirm you have permission to add it to the selected household
  • Understand that balances, transactions, categories, and calculated summaries may be delayed, incomplete, or inaccurate
  • Understand that connection availability and supported accounts depend on your device, region, financial institution, and provider

These connections do not let Penny move money or initiate payments from your financial accounts. Check important amounts, due dates, and account activity against your institution's records. Editing a record in Penny does not change the record at your institution. Connected providers may also require you to accept their own terms.

API Access

If you use Penny's API or give an API token to another application, you are responsible for authorizing that access and protecting the token. Access is limited by the token's permissions, your household role, and applicable subscription requirements. Only give tokens to applications you trust, and revoke them when access is no longer needed. Third-party applications handle information they receive under their own terms and privacy policies.

No Financial Advice

Penny provides tools for personal finance management but does not provide financial, investment, tax, or legal advice. The information provided through our Service is for informational purposes only. You should consult qualified professionals for financial decisions.

Intellectual Property

Penny and its licensors own the Service's software, design, and original content, excluding your content and material owned by third parties. Subject to these Terms, you may use the Service for its intended personal finance purposes. These Terms do not transfer ownership of the Service to you.

If you believe that any content on our Service infringes your copyright, please contact us at legal@penny.finance with the following information:

  • A description of the copyrighted work you claim has been infringed
  • The location of the allegedly infringing material on our Service
  • Your contact information (name, address, phone number, email)
  • A statement that you have a good faith belief that the use is not authorized
  • A statement, under penalty of perjury, that the information in your notice is accurate and that you are the copyright owner or authorized to act on behalf of the owner
  • Your physical or electronic signature

We will respond to valid copyright complaints and may remove infringing content at our discretion.

User Content

You retain any ownership rights you have in content you submit. You grant Penny a non-exclusive, worldwide, royalty-free license to host, copy, process, and display that content as needed to operate the Service and provide features you use, including household sharing, exports, and financial summaries. This license does not authorize unrelated advertising uses or the sale of your content. Content retention and deletion are described in our Privacy Policy.

You must have the rights or permission needed to upload and share content, including information about other people.

Termination

You can stop using Penny at any time and delete your account through Settings → Delete Account. If you own a household with other participants, you must first transfer ownership or delete that household. Deleting your account removes households you still own, but financial records in households owned by someone else remain shared. See our Privacy Policy for details.

We may suspend or terminate access for a material breach of these Terms, fraudulent or abusive activity, security risks, or legal requirements. Where reasonably possible, we will explain the reason and provide an opportunity to address the issue. Immediate action may be necessary to protect the Service or others, or to comply with law.

When access ends, you must stop using the affected account or features. Data handling remains subject to our Privacy Policy and applicable law. Suspension, termination, and account deletion do not cancel an App Store subscription; you must cancel through Apple. Any refund rights remain subject to the billing provisions above and applicable law.

Disclaimer of Warranties

To the extent permitted by applicable law, the Service is provided "as is" and "as available," without express or implied warranties, including warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not guarantee uninterrupted or error-free service or the accuracy or completeness of financial information. Nothing in these Terms excludes warranties or consumer guarantees that cannot lawfully be excluded.

Limitation of Liability

To the extent permitted by applicable law, Penny and its personnel will not be liable for indirect, incidental, special, consequential, or punitive damages arising from use of the Service, including:

  • Loss of profits or revenue
  • Loss of data
  • Loss of goodwill
  • Service interruption

To the extent permitted by applicable law, our total liability arising from these Terms or the Service will not exceed the greater of US$100 or the amount you paid for Penny in the twelve months preceding the event giving rise to the claim, including payments through the App Store. These limits do not apply to fraud, willful misconduct, or any liability that cannot lawfully be limited or excluded.

Indemnification

To the extent permitted by applicable law, you agree to cover reasonable losses and costs arising from third-party claims caused by your unlawful use of the Service, material violation of these Terms, or infringement of another person's rights. This obligation does not apply to losses caused by Penny's own misconduct or breach of these Terms. We will notify you of a claim and give you a reasonable opportunity to participate in its defense.

Dispute Resolution

Governing Law

These Terms are governed by the laws of the State of Delaware, without regard to its conflict-of-law rules. This choice does not deprive you of mandatory consumer protections that apply where you live.

Resolving a Dispute

Please contact legal@penny.finance with a description of your concern so we can try to resolve it. This does not prevent either party from bringing a claim in a court with jurisdiction or limit your right to contact a regulator. These Terms do not require arbitration or waive rights to participate in court proceedings.

Changes to Terms

We may update these Terms and will post the revised version here with an updated date. For material changes, we will provide notice through the Service or by email and state when the changes take effect. We will provide any additional notice or obtain consent required by applicable law. If you do not agree to the updated Terms, stop using the Service and cancel any subscription before it renews. Continued use after the effective date constitutes acceptance to the extent permitted by applicable law.

Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

Contact Us

For questions about these Terms, email legal@penny.finance. For product or billing support, contact us.