Privacy, Security, and Terms
Last updated: February 2026
Privacy Policy
Penny is designed to help you understand your money without stress, judgment, or pressure. Your privacy and trust are essential to that mission.
This Privacy Policy explains what data Penny collects, how it is used, and how it is protected.
Information We Collect
Account Information
When you create an account, we may collect:
- Your name or nickname
- Email address
- Basic profile preferences
Financial Data You Enter
Penny allows you to manually add:
- Transactions
- Income
- Categories
- Notes and reflections
This data belongs to you.
Uploaded Files (Receipts and Bank Statements)
If your plan includes uploads, you may choose to upload receipt images or bank statements (PDF or image). These uploads are handled temporarily and securely.
How Uploaded Bank Statements Are Handled
If you upload a bank statement, Penny uses it only to extract:
- Transaction amounts
- Transaction dates
- Basic descriptions (when available)
Once this information is extracted:
- The original bank statement file is immediately deleted
- Penny does not store full bank statements
- Penny does not retain bank account numbers
- Penny does not keep routing numbers or credentials
Penny never stores uploaded bank statements after processing.
How We Use Your Data
Your data is used to:
- Display spending summaries
- Generate insights (on supported plans)
- Help you track habits over time
- Improve the clarity and usefulness of the app
We do not:
- Sell your data
- Share your data with advertisers
- Run ads against your information
AI Usage and Limitations
Some Penny features use AI to generate:
- Weekly, monthly, or yearly insights
- Spending summaries
- Gentle suggestions
Important to know:
- AI works from the data you provide
- AI does not access deleted files
- AI does not see raw bank statements
- AI does not make financial decisions for you
- AI insights are meant to be supportive, not authoritative
Because AI is automated, it may occasionally misunderstand categories or make incorrect assumptions. It should never be treated as financial advice. You remain in control of your financial decisions.
Data Retention
- Transaction data you add stays in your account until you delete it
- Uploaded files are deleted immediately after processing
- You can delete your account at any time
- When an account is deleted, all associated data is permanently removed
Your Rights
- Access your data
- Correct your data
- Delete your data
- Export your data (on supported plans)
Contact
If you have questions about privacy: landonringeisen@gmail.com
Security
Penny is built with privacy-first principles.
Data Protection
We use:
- Encrypted connections (HTTPS)
- Secure storage practices
- Limited internal access controls
Only essential services can access user data for functionality.
Temporary File Handling
Any uploaded file (receipts or statements):
- Is processed securely
- Is never reused
- Is deleted immediately after extraction
Penny does not archive uploaded documents.
No Bank Credentials
Penny does not:
- Ask for bank logins
- Store bank usernames or passwords
- Maintain live bank connections
Terms of Service
Last updated: February 2026
Purpose of Penny
Penny is a personal finance companion designed to help you understand spending habits, encourage calm financial awareness, and provide optional AI-powered insights. Penny is not a bank, accountant, or financial advisor.
No Financial Advice
All insights provided by Penny are informational only, should not be considered professional financial advice, and are meant to support awareness, not decision-making. You are responsible for all financial choices.
AI Disclaimer
Penny’s AI features:
- Are automated
- May contain inaccuracies
- Can misinterpret data
- Are based on patterns, not personal judgment
AI outputs should always be reviewed by you.
Plan Limitations
Starter (Free)
- Access to all features with usage limits
- Receipt scanning: up to 5 scans per month
- Bank statement uploads: up to 2 per month, up to 30 days per upload
- Chat: up to 10 messages per month
- Insights: 2 weekly and 1 monthly per month
Pro
- Access to all features with expanded limits
- Receipt scanning: up to 20 scans per month
- Bank statement uploads: up to 10 per month, up to 6 months per upload
- Chat: up to 25 messages per month
- Insights: unlimited weekly, plus monthly/daily/yearly limits by period
Premium
- Unlimited access across features
- No usage counters or hard ceilings
- Insights and chat without plan limits
- Receipt scanning and statement uploads without plan limits
Account Responsibility
You are responsible for keeping your login secure, reviewing your data, and verifying accuracy.
Termination
You may cancel your account at any time. Penny may suspend accounts that violate usage terms.
Limitation of Liability
Penny is provided “as is.” We are not liable for financial losses or decisions made using the app.
Governing Law
These terms are governed by applicable local laws.
Contact
landonringeisen@gmail.com