Terms
These terms are between you and PenSnap Software, LLC (“we”), and they govern your use of Pennies Up. Using the app means you accept them.
The most important thing: we do not hold your money
Pennies Up is a record, not a bank. We do not hold, store, move or transmit money, and we do not accept deposits.
A balance in Pennies Up is a note of money you have set aside for your child. That money stays in your own bank account, under your control, and paying it to your child is something you do yourself. Balances are not deposits, and they are not insured by the FDIC or any other government agency.
It follows that the obligation a balance represents is yours, to your child — not ours to either of you. We are not a party to it and we cannot settle it.
Who can use it
You must be 18 or over and the parent or legal guardian of the children you add. You are responsible for what happens in your household, including any logins you give a child.
A child may use Pennies Up only with your permission. You can remove their access at any time, and you can see everything they can see.
Accuracy, and what you should still check
We take the arithmetic seriously. Money is handled in whole cents, entries cannot be edited or deleted, and a balance is always computed from the entries rather than stored, so it cannot drift away from them. If we cannot read your data, the app tells you so instead of showing you a number.
That said, Pennies Up records what you and your children tell it. It cannot know about money that changed hands without anyone entering it, and it does not connect to your bank. It is a shared, honest record of what you have agreed — not an authoritative statement of anyone’s finances.
Not financial advice
Pennies Up provides financial education. It does not provide investment, legal or tax advice, it is not a broker-dealer or an investment adviser, and nothing in it is a recommendation to buy or sell anything. Any investing feature we describe is a simulation for learning — no real securities are bought or sold.
Price, and what you will be charged
Pennies Up is free while we are in early access. We are not charging anyone today and there is no payment method on file.
When we do begin charging, the price is $4.99 per month for your whole household, whatever number of children you have. We will tell you before that happens, we will show you the full terms before asking for a payment method, and you will never be charged without agreeing to it first. A subscription renews monthly until you cancel; you can cancel in the app at any time and keep access until the end of the period you have paid for.
Early access
Pennies Up is early software. Features described as being built are not available yet, and we may change or drop them. Our home page keeps an explicit list of what works today, and we would rather you judge us on that list than on our intentions.
Your data
What we collect and how we treat it — particularly for children — is set out in our Privacy notice, which forms part of these terms. You can export or delete your household’s data by writing to us.
Ending it
You can stop using Pennies Up whenever you like and ask us to delete your household. We may suspend an account that is being used to break these terms or the law, and we will tell you why.
Liability
Pennies Up is provided as-is. To the extent the law allows, we are not liable for indirect or consequential losses, and our total liability is limited to what you have paid us in the twelve months before the claim. Nothing here limits liability that cannot lawfully be limited.
Because we never hold your money, we cannot lose it. What we could get wrong is the record — so if you think a number is wrong, tell us and we will investigate it with you.
Contact
PenSnap Software, LLC — [email protected].
These terms are published in good faith and describe how the product actually works. They have not yet been reviewed by counsel, and will be before we begin charging for Pennies Up.