Terms & Conditions

Last updated: July 1, 2026

Please read carefully. Penny is a tool to help you track and understand your money. It is not financial, investment, tax, or legal advice. These Terms include important limitations of liability.

These Terms & Conditions ("Terms") are a legal agreement between you and Tigran Nazaryan, acting as an Individual Entrepreneur (IP) based in Yerevan, Armenia ("Penny", "we", "us", or "our"), governing your use of the Penny mobile app and website (the "Service"). By creating an account or using the Service, you agree to these Terms and to our Privacy Policy. If you don't agree, don't use the Service.

Contents
  1. Eligibility
  2. Your account
  3. What Penny is
  4. Not financial advice
  5. The AI assistant
  6. Subscriptions & payments
  7. Acceptable use
  8. Your content
  9. Intellectual property
  10. Third-party services
  11. Disclaimers
  12. Limitation of liability
  13. Indemnification
  14. Termination
  15. Changes
  16. Governing law
  17. Contact

1. Eligibility

You must be at least 13 years old to use the Service. If you are under the age of majority in your country of residence, you may use the Service only with the consent and supervision of a parent or legal guardian who agrees to these Terms on your behalf.

2. Your account

You are responsible for providing accurate information, keeping your login credentials confidential, and for all activity that happens under your account. Notify us promptly at penny.app.support@gmail.com if you suspect unauthorized use. You may delete your account at any time from Settings in the app.

3. What Penny is

Penny is a personal-finance tool that helps you manually record and visualize your spending, income, budgets, and goals. Penny does not connect to your bank accounts and does not move, hold, or manage money. Any numbers, budgets, insights, or projections are based on the data you enter and are provided for informational purposes only.

4. Not financial advice

Penny does not provide financial, investment, tax, accounting, or legal advice, and nothing in the Service constitutes a recommendation to take or refrain from any action. You are solely responsible for your financial decisions. Consider consulting a qualified professional before making important decisions. We are not liable for decisions you make based on the Service.

5. The AI assistant

The optional AI assistant generates responses automatically and may be inaccurate, incomplete, or out of date. Do not rely on it as a sole basis for any financial or other decision. By using the assistant you consent to your messages being processed by our AI provider as described in our Privacy Policy.

6. Subscriptions & payments

Penny offers free and paid subscription tiers. Where paid subscriptions are offered, they are sold and billed through the Apple App Store or Google Play, subject to their terms. Paid subscriptions renew automatically for the same period unless cancelled at least 24 hours before the end of the current period. You can manage or cancel a subscription in your App Store or Google Play account settings. Except where required by law or the applicable app store's policy, payments are non-refundable. Prices and features may change; we'll give notice of material changes where required.

7. Acceptable use

You agree not to:

  • Use the Service for any unlawful purpose or in violation of these Terms.
  • Attempt to access accounts or data that are not yours, or breach or probe our security.
  • Reverse-engineer, decompile, scrape, or interfere with the Service, except as permitted by law.
  • Overload, disrupt, or attempt to gain unauthorized access to our systems.
  • Upload malicious code or content that is illegal, infringing, or harmful.

8. Your content

You retain ownership of the data you enter into Penny. You grant us a limited license to store, process, and display that data solely to operate and provide the Service to you (including transmitting AI-assistant messages to our AI provider when you use that feature). We do not claim ownership of your financial data and do not sell it.

9. Intellectual property

The Service — including its software, design, branding, logos, and content we create — is owned by Penny and protected by intellectual-property laws. We grant you a personal, non-exclusive, non-transferable, revocable license to use the Service for your own personal use. You may not copy, modify, distribute, or create derivative works from the Service without our permission.

10. Third-party services

The Service relies on third parties (such as Google Sign-In and the Apple/Google app stores) and may link to third-party sites. We are not responsible for third-party services or their content, and your use of them is subject to their own terms and policies.

11. Disclaimers

The Service is provided "as is" and "as available", without warranties of any kind, whether express or implied, including implied warranties of merchantability, fitness for a particular purpose, accuracy, and non-infringement. We do not warrant that the Service will be uninterrupted, error-free, or secure, or that any data or insight it produces is accurate or complete.

12. Limitation of liability

To the maximum extent permitted by law, Penny and Tigran Nazaryan will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, data, savings, or goodwill, arising out of or related to your use of (or inability to use) the Service. To the extent liability cannot be excluded, our total liability for any claim will not exceed the greater of the amount you paid us for the Service in the 12 months before the claim, or USD 50.

13. Indemnification

You agree to indemnify and hold harmless Penny and Tigran Nazaryan from any claims, damages, liabilities, and expenses (including reasonable legal fees) arising from your misuse of the Service or your violation of these Terms or of any law or third-party right.

14. Termination

You may stop using the Service and delete your account at any time. We may suspend or terminate your access if you breach these Terms, if required by law, or to protect the Service or other users. Sections that by their nature should survive termination (such as intellectual property, disclaimers, limitation of liability, and governing law) will survive.

15. Changes to the Service and Terms

We may modify or discontinue features of the Service, and we may update these Terms from time to time. When changes are material, we will update the "Last updated" date and, where appropriate, notify you. Your continued use after changes take effect constitutes acceptance of the updated Terms.

16. Governing law & disputes

These Terms are governed by the laws of the Republic of Armenia, without regard to conflict-of-laws rules. The courts located in Yerevan, Armenia will have jurisdiction over any dispute, except where mandatory consumer-protection laws of your country of residence provide otherwise.

17. Contact

Tigran Nazaryan (Individual Entrepreneur)
Yerevan, Armenia
penny.app.support@gmail.com