Last Updated: March 2026

Welcome to Penny! These Terms of Service ("Terms") govern your use of the Penny service and website (collectively, the "Service"). By using Penny, you agree to these Terms in full.

1.About Penny

Penny is a financial notification service that provides daily balance updates from your connected bank accounts. We deliver these updates via email and other messaging channels you configure. We are not a bank, financial advisor, or financial institution.

2.Accepting These Terms

By creating an account and using Penny, you confirm that:

  • You are at least 18 years old
  • You are legally able to enter into binding contracts
  • You will comply with these Terms and all applicable laws
  • All information you provide is accurate and current

If you don't agree to these Terms, please don't use our Service.

3.Your Account

Registration

You create an account by signing up through our authentication provider (currently Clerk). You're responsible for:

  • Keeping your login credentials secure
  • All activity that occurs under your account
  • Notifying us immediately of any unauthorised access

Account Security

Never share your account credentials with anyone. We will never ask for your password via email, phone, or any other channel.

4.Bank Account Connections

How It Works

Penny uses GoCardless Bank Account Data and Open Banking (PSD2) to connect to your bank accounts. This means:

  • We access read-only balance information
  • We cannot make payments, transfers, or any transactions
  • We cannot see transaction details beyond your current balance
  • Your bank credentials are never shared with us; authentication happens directly with your bank

Your Authorisation

When you connect a bank account, you authorise us to:

  • Retrieve your current account balance once per day
  • Store your account name, currency, and balance information
  • Send you notifications containing this information via your chosen channels

Re-authorisation Requirement

Open Banking connections expire after a maximum of 90 days for security reasons. You will receive reminder emails at 7 days and 1 day before expiry. If your connection expires:

  • We will pause sending notifications
  • Your account will show an "Action Required" status
  • You'll need to reconnect your bank account to resume service

Connection Termination

You can disconnect your bank account at any time from your Penny dashboard. You can also revoke access directly through your bank's Open Banking management interface.

5.The Service We Provide

What We Do

  • Retrieve your bank balance once per day at your scheduled notification time
  • Calculate the change since your last notification
  • Deliver balance updates to your configured notification channels (email, Discord)
  • Store logs of sent notifications for 30 days

What We Don't Do

  • Provide financial advice or recommendations
  • Guarantee uninterrupted or error-free service
  • Store your transaction history or detailed financial data
  • Access or interact with your bank account beyond reading your balance

Service Availability

While we strive for reliable service, we cannot guarantee:

  • 100% uptime or availability
  • That notifications will always be delivered successfully
  • That third-party services (GoCardless, email providers, Discord) will function without interruption

We are not liable for missed notifications due to service outages, bank connection issues, or third-party service failures.

6.Your Responsibilities

You agree to:

  • Provide accurate and current information
  • Use the Service only for lawful purposes
  • Not attempt to circumvent security measures or access restrictions
  • Not abuse test notification features or rate limits
  • Not share your account with others
  • Keep your notification channel endpoints (email, Discord webhooks) secure

7.Prohibited Uses

You may not use Penny to:

  • Violate any laws or regulations
  • Infringe on intellectual property rights
  • Transmit malware, viruses, or harmful code
  • Attempt to reverse engineer or decompile the Service
  • Use the Service on behalf of someone else without authorisation
  • Scrape, data mine, or automatically access the Service beyond normal use
  • Share, resell, or commercialise access to the Service

8.Data and Privacy

What We Collect

We collect and process:

  • Your email address and authentication information
  • Bank account name, currency, and balance information
  • Notification channel configurations (email addresses, webhook URLs)
  • Service usage logs and notification history

How We Use It

We use your data to:

  • Deliver the Service you've requested
  • Send you balance notifications
  • Communicate important service updates
  • Improve and secure our Service

Your Privacy Rights

Your data is protected under UK data protection laws. For full details on how we collect, use, and protect your data, please see our Privacy Policy.

Data Retention

  • Notification logs are automatically deleted after 30 days
  • Account data is retained while your account is active
  • Upon account deletion, all your data is permanently deleted (hard delete)

9.Termination

By You

You can delete your account at any time from your dashboard. Upon deletion:

  • All your data will be permanently deleted
  • Your bank connections will be terminated
  • Notifications will stop immediately

By Us

We may suspend or terminate your account if:

  • You breach these Terms
  • You engage in fraudulent or illegal activity
  • We're required to do so by law
  • We discontinue the Service (with reasonable notice)

If we terminate your account for cause, you will not receive a refund.

10.Disclaimers

THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND.

We disclaim all warranties, express or implied, including:

  • Merchantability or fitness for a particular purpose
  • Accuracy of balance information (we relay what your bank provides)
  • Uninterrupted or error-free operation
  • That the Service meets your specific requirements

Penny is not a substitute for checking your bank account directly. Always verify important financial information with your bank.

11.Limitation of Liability

To the fullest extent permitted by law:

  • We are not liable for any indirect, incidental, or consequential damages
  • Our total liability is limited to the amount you've paid us in the past 12 months
  • We are not liable for issues caused by third-party services (banks, GoCardless, email providers, Discord)
  • We are not liable for financial losses, missed payments, or overdraft fees

Nothing in these Terms excludes liability that cannot be excluded under UK law (such as liability for death or personal injury caused by negligence).

12.Indemnification

You agree to indemnify and hold harmless Penny, its officers, employees, and agents from any claims, damages, losses, or expenses (including legal fees) arising from:

  • Your use of the Service
  • Your violation of these Terms
  • Your violation of any rights of another person or entity

13.Third-Party Services

Penny relies on third-party services including:

  • GoCardless for bank connections (Open Banking)
  • Clerk for authentication
  • Resend for email delivery
  • Discord (via webhooks you provide)

These services have their own terms and privacy policies. We're not responsible for their actions, failures, or policies.

14.Changes to These Terms

We may update these Terms from time to time. If we make material changes:

  • We'll notify you via email at least 30 days before they take effect
  • The "Last Updated" date at the top will be revised
  • Continued use of the Service after changes take effect means you accept the new Terms

15.General Legal Terms

Governing Law

These Terms are governed by the laws of England and Wales. Any disputes will be resolved in the courts of England and Wales.

Entire Agreement

These Terms, along with our Privacy Policy, constitute the entire agreement between you and Penny.

Severability

If any provision of these Terms is found unenforceable, the remaining provisions remain in full effect.

No Waiver

Our failure to enforce any provision doesn't waive our right to enforce it later.

Assignment

You cannot transfer your rights under these Terms. We may transfer our rights to any successor or affiliate.

16.Contact Us

If you have questions about these Terms, please contact us:

Email: penny@cording.dev
Website: pennypeek.co.uk