Terms and Conditions

About Us

PennyWise is operated by Orber & Co. Ltd (Company Number: 13086066), registered at 86-90 Paul Street, London, EC2A 4NE, United Kingdom.

1. Acceptance of Terms

By creating an account or using PennyWise, you confirm that:

• You are at least 18 years old
• You have read and understood these Terms
• You agree to be bound by these Terms
• You will comply with all applicable laws

2. Our Services

PennyWise provides:

• Account Information Services (AIS) through our regulated partner Yapily
• Read-only access to your bank account balances and transactions
• Transaction categorisation and budgeting tools
• Financial insights and spending analysis
• AI-powered financial guidance

3. Regulatory Status

We operate as an Agent of Yapily, an FCA-authorised Account Information Service Provider. We are NOT directly authorised by the Financial Conduct Authority.

Our services are provided under UK Open Banking regulations (Payment Services Regulations 2017).

4. Account Security

You are responsible for:

• Keeping your PIN confidential
• Securing your mobile device
• Notifying us immediately of any unauthorised access
• Maintaining up-to-date security measures

5. Open Banking Connections

When you connect your bank accounts:

• You provide explicit consent for read-only access
• We CANNOT access your online banking credentials
• We CANNOT make payments or move money
• You can revoke access at any time
• Connections are secured with bank-level encryption

6. Acceptable Use

You must NOT:

• Provide false or misleading information
• Share your account credentials with others
• Attempt to hack or breach our security
• Use the app for illegal purposes
• Abuse or harass our staff or other users
• Create multiple accounts to abuse services

7. Financial Disclaimer

Our AI-powered insights are automated suggestions only. We are not responsible for your financial decisions or outcomes.

8. Limitation of Liability

Our maximum liability to you shall not exceed the greater of:

• £100, or
• The amount you paid us in the last 12 months

We are NOT liable for:

• Indirect or consequential damages
• Loss of profits or business opportunities
• Inaccurate financial decisions based on app information
• Third-party service failures (your bank, Yapily, etc.)
• Data loss (except as required by law)

Nothing limits our liability for death/injury caused by negligence or fraud.

9. Subscription and Fees

PennyWise is currently FREE. If we introduce fees:

• You will receive 30 days advance notice
• You can cancel before fees take effect
• Existing users may be grandfathered
• Pro-rata refunds available within 14 days of initial purchase

10. Account Termination

You may delete your account anytime via Settings > Delete Account.

We may terminate your account if:

• You breach these Terms
• We suspect fraud or illegal activity
• Required by law
• Your account is inactive for 24+ months

11. Dispute Resolution

These Terms are governed by the laws of England and Wales.

Before legal action, contact us at legal@orber.co for informal resolution (30 days).

For Account Information Service disputes, you may contact the Financial Ombudsman Service: www.financial-ombudsman.org.uk

12. Changes to Terms

We may update these Terms. Material changes require 30 days notice via email and in-app notification. Continued use after changes means acceptance.

13. Contact Information