Privacy Policy
Last updated: January 2025
Introduction
Penny ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our personal finance application and related services.
Information We Collect
Information You Provide
- Account Information: When you create an account, we collect your name, email address, and password.
- Financial Data: With your permission, we connect to your financial institutions to retrieve account balances, transaction history, and other financial information.
- Profile Information: Any additional information you choose to provide, such as profile pictures or preferences.
Information Collected Automatically
- Usage Data: We collect information about how you interact with our app, including features used, time spent, and actions taken.
- Device Information: We may collect device type, operating system, unique device identifiers, and mobile network information.
- Log Data: Our servers automatically record information including your IP address, browser type, and access times.
Financial Account Connections
When you connect your financial accounts through our service, you authorize us to access your financial account information through our third-party data providers. This includes account balances, transaction history, and account details. We only access this information with your explicit permission, and you can disconnect your accounts at any time through your account settings.
How We Use Your Information
We use the information we collect to:
- Provide, maintain, and improve our services
- Process transactions and send related information
- Send you technical notices, updates, and support messages
- Respond to your comments, questions, and customer service requests
- Monitor and analyze trends, usage, and activities
- Detect, investigate, and prevent fraudulent transactions and other illegal activities
- Personalize and improve your experience
Household Data Sharing
If you create or join a household within Penny, your financial data and activity may be visible to other members of that household. By joining a household, you consent to sharing your connected accounts, transactions, and financial information with other household members. You can leave a household at any time, which will stop sharing your data with those members going forward.
Data Security
We implement appropriate technical and organizational security measures to protect your personal information against unauthorized access, alteration, disclosure, or destruction. These measures include:
- Encryption of data in transit and at rest
- Regular security assessments and penetration testing
- Access controls and authentication requirements
- Secure data centers with physical security measures
Data Sharing
We do not sell your personal information. We may share your information in the following circumstances:
- Service Providers: With third-party vendors who perform services on our behalf, including financial data aggregation providers
- Legal Requirements: When required by law or to respond to legal process
- Business Transfers: In connection with a merger, acquisition, or sale of assets
- With Your Consent: When you have given us permission to share your information
Your Rights
You have the right to:
- Access the personal information we hold about you
- Request correction of inaccurate information
- Request deletion of your personal information
- Opt out of marketing communications
- Export your data in a portable format
Data Retention
We retain your personal information for as long as your account is active or as needed to provide you services. We will retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements.
Children's Privacy
Our services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children under 18.
Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on this page and updating the "Last updated" date.
Contact Us
If you have questions about this Privacy Policy, please contact us at:
Email: [email protected]