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Terms and Conditions

Last updated: 30 March 2026

1. Agreement to Terms

These Terms and Conditions ("Terms") constitute a legally binding agreement between you ("you", "your") and Simdan Labs Ltd ("FinChat", "we", "us", "our"), a company registered in England and Wales, with its principal place of business in Manchester, England, United Kingdom.

By downloading, installing, or using the FinChat mobile application and any associated services (collectively, the "Service"), you agree to be bound by these Terms. If you do not agree to these Terms, do not use the Service.

2. Eligibility

To use FinChat, you must:

  • Be at least 16 years of age
  • Be a resident of the United Kingdom or have a UK bank account
  • Have the legal capacity to enter into a binding agreement
  • Not be prohibited from using the Service under applicable law

By creating an account, you represent and warrant that you meet all of the above requirements.

3. Description of Service

FinChat is an AI-powered personal finance application that allows you to:

  • Connect your UK bank accounts via Open Banking to view balances, transactions, and account information in one place
  • Chat with an AI assistant to get insights about your spending, track budgets, and understand your financial habits
  • Receive automated spending analysis, category breakdowns, and trend reports
  • Set and track financial goals
  • Detect and monitor recurring payments and subscriptions

3.1 What FinChat Is Not

FinChat is an informational and educational tool only. It is important that you understand:

  • FinChat does not provide financial advice, investment advice, tax advice, or any other form of regulated financial guidance
  • AI-generated insights and suggestions are for informational purposes only and should not be relied upon as the sole basis for any financial decision
  • We are not a bank, building society, payment institution, or investment firm
  • FinChat cannot move money, make payments, or initiate transactions on your behalf — all bank access is read-only
  • You should always seek independent professional advice before making significant financial decisions

4. Account Registration

4.1 Creating an Account

To use the Service, you must create an account using a valid email address or Apple Sign-In. You agree to provide accurate, current, and complete information during registration and to keep your account information up to date.

4.2 Account Security

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

  • Keep your login credentials secure and not share them with anyone
  • Notify us immediately at hello@usefinchat.app if you suspect unauthorised access to your account
  • Use the optional biometric lock feature (Face ID / fingerprint) for additional security

4.3 One Account Per Person

Each person may maintain only one FinChat account. We reserve the right to suspend or terminate duplicate accounts.

5. Open Banking and Bank Connections

5.1 Connecting Bank Accounts

FinChat uses TrueLayer, an authorised Account Information Service Provider (AISP), to connect to your bank accounts via Open Banking. When you connect a bank:

  • You are redirected to your bank's secure authentication page
  • You authorise TrueLayer to access your account data on our behalf
  • We receive read-only access to the account data you choose to share
  • Your banking login credentials are never shared with or stored by FinChat

5.2 Consent and Revocation

Open Banking consent is typically valid for 90 days, after which you will be asked to re-authorise access. You may revoke access at any time by:

  • Disconnecting the bank account within the FinChat app
  • Revoking access through your bank's app or online banking
  • Contacting TrueLayer directly

5.3 Data Accuracy

Bank data displayed in FinChat is sourced from your bank via Open Banking. While we strive to display accurate and up-to-date information, we cannot guarantee that the data is always complete or error-free. Discrepancies may arise due to delays in bank data feeds, pending transactions, or technical issues. Always refer to your bank's official records as the authoritative source.

6. AI Features and Limitations

6.1 AI-Generated Content

FinChat uses artificial intelligence (powered by third-party large language models) to analyse your financial data and generate insights, summaries, and suggestions. You acknowledge that:

  • AI-generated content may be inaccurate, incomplete, or misleading
  • AI responses are generated based on the data available and may not reflect your complete financial picture
  • You should independently verify any information provided by the AI before acting on it
  • AI categorisation of transactions and merchant identification may contain errors

6.2 No Professional Advice

The AI assistant does not provide, and is not a substitute for, professional financial, investment, tax, legal, or accounting advice. Any AI-generated suggestions are general in nature and do not take into account your complete personal circumstances.

6.3 AI Data Processing

To generate insights, relevant financial data from your account is processed by our AI provider (Anthropic). This processing is subject to our Privacy Policy and Anthropic's data processing terms. Your data is not used to train third-party AI models.

7. Subscriptions and Payments

7.1 Subscription Tiers

FinChat offers free and paid subscription tiers. Paid tiers unlock additional features such as increased chat limits, advanced export formats, and enhanced insights. Details of each tier and current pricing are displayed in the app.

7.2 Billing

Subscriptions are billed through the Apple App Store or Google Play Store, depending on your device platform. By subscribing, you agree to the billing terms of your respective app store. Payments are managed by RevenueCat on our behalf.

7.3 Cancellation and Refunds

  • You may cancel your subscription at any time through your app store account settings
  • Cancellation takes effect at the end of your current billing period — you will retain access to paid features until then
  • Refund requests are handled by the Apple App Store or Google Play Store in accordance with their respective refund policies
  • We do not process refunds directly

7.4 Price Changes

We reserve the right to change subscription pricing. Any price changes will be communicated in advance and will not affect your current billing period. Continued use of the paid Service after a price change constitutes acceptance of the new pricing.

8. Acceptable Use

You agree not to:

  • Use the Service for any unlawful purpose or in violation of applicable laws
  • Attempt to gain unauthorised access to any part of the Service, other users' accounts, or our systems
  • Reverse engineer, decompile, or disassemble the app or any part of the Service
  • Use the Service to transmit malware, spam, or other harmful content
  • Circumvent or attempt to circumvent usage limits, rate limits, or subscription restrictions
  • Use automated systems (bots, scrapers) to access the Service without our written permission
  • Misrepresent your identity or create fake accounts
  • Use the AI chat feature to attempt to extract harmful, illegal, or abusive content
  • Resell, redistribute, or commercially exploit the Service without our written consent

We reserve the right to suspend or terminate your account if we reasonably believe you have violated these terms.

9. Intellectual Property

9.1 Our Property

The Service, including its design, code, features, content, logos, and trademarks, is owned by Simdan Labs Ltd and is protected by copyright, trademark, and other intellectual property laws. You may not copy, modify, distribute, or create derivative works based on any part of the Service without our prior written consent.

9.2 Your Data

You retain ownership of your personal and financial data. By using the Service, you grant us a limited, non-exclusive licence to use your data solely to provide, maintain, and improve the Service as described in our Privacy Policy.

9.3 Feedback

If you provide us with feedback, suggestions, or ideas about the Service, you agree that we may use this feedback without obligation to you, including to improve or develop our products and services.

10. Disclaimers and Limitation of Liability

10.1 Service Provided "As Is"

The Service is provided on an "as is" and "as available" basis without warranties of any kind, whether express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.

10.2 No Guarantee of Availability

We do not guarantee that the Service will be available at all times, uninterrupted, error-free, or secure. We may suspend or discontinue any part of the Service at any time without notice.

10.3 Financial Data Accuracy

We do not guarantee the accuracy, completeness, or timeliness of financial data displayed in the app. Bank data depends on third-party Open Banking providers and your bank's systems. AI analysis is based on available data and may contain errors.

10.4 Limitation of Liability

To the maximum extent permitted by applicable law, Simdan Labs Ltd shall not be liable for:

  • Any indirect, incidental, special, consequential, or punitive damages
  • Loss of profits, data, business opportunities, or goodwill
  • Any financial loss or damage arising from reliance on AI-generated insights or information displayed in the app
  • Any loss arising from unauthorised access to your account due to your failure to protect your credentials
  • Any loss caused by third-party service providers (banks, TrueLayer, payment processors)

Our total aggregate liability to you for all claims arising from or related to the Service shall not exceed the amount you have paid us in subscription fees in the 12 months preceding the claim, or £50, whichever is greater.

10.5 Consumer Rights

Nothing in these Terms affects your statutory rights as a consumer under UK law, including under the Consumer Rights Act 2015. Any limitations of liability apply only to the extent permitted by applicable law.

11. Indemnification

You agree to indemnify and hold harmless Simdan Labs Ltd, its directors, employees, and agents from and against any claims, damages, losses, costs, and expenses (including reasonable legal fees) arising from your breach of these Terms or your misuse of the Service.

12. Account Termination

12.1 Termination by You

You may delete your account at any time through the Settings screen in the app. Upon deletion, all your personal data will be permanently removed in accordance with our Privacy Policy. If you have an active subscription, please cancel it through your app store before deleting your account to avoid continued billing.

12.2 Termination by Us

We may suspend or terminate your account at any time if you violate these Terms, engage in fraudulent or harmful activity, or if we are required to do so by law. We will endeavour to notify you in advance where reasonably practicable.

12.3 Effect of Termination

Upon termination, your right to use the Service ceases immediately. Sections of these Terms that by their nature should survive termination (including intellectual property, limitation of liability, and indemnification) shall continue in effect.

13. Changes to These Terms

We may update these Terms from time to time. When we make material changes, we will notify you through the app or by email at least 30 days before the changes take effect. Your continued use of the Service after the updated Terms take effect constitutes acceptance of the changes. If you do not agree with the revised Terms, you must stop using the Service and delete your account.

14. Third-Party Services

The Service integrates with third-party services that have their own terms and policies:

  • TrueLayer: Open Banking data access (subject to TrueLayer's terms of service)
  • Apple App Store / Google Play Store: App distribution and in-app purchases (subject to their respective terms)
  • Clerk: Authentication services
  • Anthropic: AI language model services

We are not responsible for the practices or content of third-party services. We encourage you to review their terms and privacy policies.

15. Governing Law and Disputes

These Terms are governed by and construed in accordance with the laws of England and Wales. Any disputes arising from or relating to these Terms or the Service shall be subject to the exclusive jurisdiction of the courts of England and Wales.

If you are a consumer, you may also be entitled to use the European Commission's Online Dispute Resolution platform or bring proceedings in the courts of your country of residence, as permitted by applicable law.

16. Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect. The invalid or unenforceable provision shall be modified to the minimum extent necessary to make it valid and enforceable.

17. Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Simdan Labs Ltd regarding your use of the Service and supersede all prior agreements and understandings.

18. Contact Us

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