Introduction

These Terms and Conditions (“Terms”) govern your access to and use of the Penny website, services, and AI-powered financial assistant provided by Penny Wealth (“Penny”, “we”, “us”, or “our”).

By accessing or using Penny’s services, including visiting pennywealth.ai, interacting with Penny’s AI assistant, or connecting financial accounts through Open Banking, you agree to be bound by these Terms.

PennyWealth ("Penny") is a trading name of Search 6 Ltd, a company registered in England and Wales. Company number: 10923535. Registered office: Avondale House, 262 Uxbridge Road, Middlesex, Hatch End, England, HA5 4HS.

If you do not agree to these Terms, you should not use Penny’s services.

About Penny

Penny is a financial insights platform designed to help users better understand their financial behaviour by analysing transaction data, identifying spending patterns, and providing AI-generated insights.

The Penny platform may allow users to:

• Connect financial accounts using Open Banking technology

• Analyse transaction histories and spending patterns

• Receive AI-generated financial insights and summaries

• Interact with an AI assistant about their finances

Penny is designed to provide informational tools that help users better understand their finances.

Financial Services Disclaimer

Penny provides financial insights and analytical tools intended to help users understand their financial behaviour.

Penny does not provide financial advice, investment advice, tax advice, or regulated financial services.

The information generated by Penny, including insights produced by its AI systems, is provided for informational purposes only and should not be relied upon as a substitute for professional financial advice.

Users remain solely responsible for their financial decisions.

If you require personalised financial advice, you should consult a qualified and regulated financial adviser.

FCA Regulatory Disclosure

Penny’s services are limited to financial data analysis and informational insights.

Penny does not:

• hold client money

• provide investment services

• execute financial transactions

• offer financial products

• provide regulated financial advice

Because of the nature of these services, Penny is not authorised or regulated by the UK Financial Conduct Authority (FCA).

The platform is designed as a financial insights and educational tool rather than a regulated financial service.

Eligibility

To use Penny’s services, you must:

• be at least 18 years old

• have the legal capacity to enter into binding agreements

• provide accurate information when creating an account

By using Penny, you confirm that you meet these requirements.

User Accounts

Certain features of Penny may require users to create an account.

You are responsible for maintaining the confidentiality of your login credentials and for all activity that occurs under your account.

You agree to notify Penny immediately if you suspect unauthorised use of your account.

Penny reserves the right to suspend or terminate accounts that violate these Terms or present security risks.

Open Banking Connections

Penny may allow users to connect their bank accounts using Open Banking technology provided by authorised third-party providers.

When connecting a bank account, users will be redirected to their bank’s secure authentication environment to approve access.

Penny does not receive or store your bank login credentials.

Once access is granted, Penny may retrieve financial data including account balances and transaction histories in order to provide financial insights.

Users remain in control of their bank connections and may revoke access at any time through their bank or within Penny.

Penny’s access to financial data is read-only, meaning Penny cannot move funds, make payments, or modify bank account settings.

Accuracy of Financial Information

Penny relies on financial data retrieved from banks and financial institutions via Open Banking providers.

While we aim to provide accurate insights, we cannot guarantee the completeness or accuracy of financial data provided by third parties.

Insights generated by Penny’s AI systems are based on available data and automated analysis and may occasionally contain errors or inaccuracies.

Users should independently verify financial information before making financial decisions.

Acceptable Use

You agree not to use Penny in a manner that:

• violates applicable laws or regulations

• attempts to gain unauthorised access to systems or data

• interferes with the operation of the platform

• attempts to reverse engineer or exploit Penny’s systems

• uses the platform for fraudulent or harmful purposes

Penny reserves the right to suspend or terminate access where misuse is detected.

Intellectual Property

All intellectual property rights in the Penny platform, including software, design, branding, content, and AI systems, are owned by or licensed to Penny Wealth.

Users are granted a limited, non-exclusive, non-transferable licence to access and use Penny solely for personal and non-commercial purposes.

Users may not reproduce, distribute, modify, or create derivative works from Penny’s software or content without prior written permission.

Service Availability

We aim to ensure Penny’s services are available and functioning at all times. However, we cannot guarantee uninterrupted access.

The platform may occasionally experience interruptions due to maintenance, updates, or unforeseen technical issues.

Penny reserves the right to modify, suspend, or discontinue features of the platform at any time.

Limitation of Liability

To the fullest extent permitted by law, Penny shall not be liable for any direct, indirect, incidental, or consequential losses arising from the use of the platform.

This includes, but is not limited to:

• financial losses resulting from decisions made using Penny’s insights

• loss of data

• service interruptions

• errors or inaccuracies in financial data

Nothing in these Terms excludes liability for death or personal injury caused by negligence or any liability that cannot be excluded under applicable law.

Third-Party Services

Penny may rely on third-party service providers to operate certain aspects of the platform, including Open Banking providers, cloud infrastructure providers, and AI technology providers.

Penny is not responsible for the performance or policies of third-party services.

Users should review the relevant policies of third-party providers where applicable.

Privacy and Data Protection

Your use of Penny is also governed by our Privacy Policy, which explains how we collect, use, and protect personal data.

By using Penny, you agree to the processing of personal data as described in the Privacy Policy.

Termination

Users may stop using Penny at any time.

Penny reserves the right to suspend or terminate accounts where users violate these Terms, misuse the platform, or create security risks.

Upon termination, access to Penny’s services may be revoked.

Changes to These Terms

We may update these Terms from time to time to reflect changes to our services, technology, or legal obligations.

When changes are made, the updated Terms will be published on our website with a revised effective date.

Continued use of Penny after updates constitutes acceptance of the revised Terms.

Governing Law

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

Any disputes arising in connection with these Terms shall be subject to the jurisdiction of the courts of England and Wales.

Contact

If you have questions regarding these Terms, you may contact us at:

Email: legal@pennywealth.ai