Terms of Service

Welcome to Penny ("Penny," "we," "us," or "our"). Please read these Terms of Service ("Terms") carefully. By downloading, accessing, or using the Penny website and mobile application (the "Service"), you agree to be bound by these Terms. If you do not agree to these Terms, do not use the Service.

1. Description of Service

Penny is a digital ledger application designed to help users track shared expenses, split bills, and calculate optimal repayment paths among friends, family, and groups.

• Not a Payment Processor: Penny does not hold, process, or transfer real money. The Service calculates debts and suggests settlement amounts, but all actual payments must be handled externally by the users. We are not a bank, money transmitter, or financial institution.
• Currency Conversion: We provide historical and current exchange rate data for convenience. This data is provided "as is," and we do not guarantee its absolute accuracy or real-time precision.

2. User Accounts

• Eligibility: You must be at least 13 years old to use the Service.
• Account Security: You must provide a valid email address to register. You are responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your account.
• Non-Account Users: Users with active accounts may create "non-account users" (placeholders) within groups. If a non-account user is later linked to a registered account, the registered user assumes the ledger history of that placeholder.

3. AI Features and Receipt Scanning

Our Service includes artificial intelligence (AI) features, such as receipt image scanning and natural language processing, to automate bill splitting.

• User Verification: AI-generated outputs are provided for convenience. You are solely responsible for reviewing and verifying the accuracy of all itemized amounts, tax calculations, tip distributions, and assigned splits before saving a bill. Penny is not liable for mathematical errors, misread receipts, or disputes arising from AI miscalculations.

4. Group Dynamics and Ledger Integrity

• To maintain the mathematical integrity of group expenses, deleting your account or leaving a group will not erase your past transaction history from that group's ledger. You will appear as a "former member," and your historical debts and payments will remain visible to the remaining group members.

5. Prohibited Conduct

You agree not to:

• Use the Service for any illegal, fraudulent, or malicious purpose.
• Upload receipts or images containing sensitive personal data (e.g., full credit card numbers, social security numbers) that are not required for expense tracking.
• Attempt to disrupt, reverse-engineer, or compromise the security of the Service or its AI models.

6. Limitation of Liability

To the maximum extent permitted by law, Penny and its creators shall not be liable for any indirect, incidental, or consequential damages, including monetary disputes between users, loss of data, or inaccuracies in expense calculations or currency conversions.

7. Changes to Terms

We reserve the right to modify these Terms at any time. We will notify users of significant changes via email or an in-app notification. Continued use of the Service constitutes acceptance of the modified Terms.