Terms of Service

Last updated: December 9, 2024

1. Acceptance of Terms

By accessing or using Figu's personal finance management application and related services (the "Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you may not access or use our Service.

These Terms constitute a legally binding agreement between you and Figu ("Company," "we," "us," or "our"). We may update these Terms from time to time, and your continued use of the Service constitutes acceptance of any changes.

2. Service Description

Figu provides an AI-powered personal finance management platform that helps users:

  • Track and categorize personal expenses
  • Analyze spending patterns and financial habits
  • Receive personalized financial insights and recommendations
  • Manage budgets and financial goals
  • Connect with financial institutions for transaction data

Development Status: The Service is currently under development. Features and functionality may change, and some services may be temporarily unavailable during development phases.

3. User Accounts and Eligibility

3.1 Account Creation

To use our Service, you must create an account by providing accurate, current, and complete information. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

3.2 Eligibility

  • You must be at least 18 years old to use our Service
  • You must have the legal capacity to enter into binding agreements
  • You must not be prohibited from using the Service under applicable laws
  • You must provide accurate and truthful information during registration

3.3 Account Security

You agree to immediately notify us of any unauthorized use of your account or any other breach of security. We are not liable for any loss or damage arising from your failure to protect your account information.

4. Acceptable Use Policy

4.1 Permitted Uses

You may use our Service only for lawful purposes and in accordance with these Terms. The Service is intended for personal, non-commercial use for managing your own financial information.

4.2 Prohibited Activities

You agree not to:

  • Use the Service for any illegal or unauthorized purpose
  • Violate any applicable laws, regulations, or third-party rights
  • Attempt to gain unauthorized access to our systems or other users' accounts
  • Interfere with or disrupt the Service or servers connected to the Service
  • Upload or transmit viruses, malware, or other malicious code
  • Reverse engineer, decompile, or disassemble any part of the Service
  • Use automated systems to access the Service without our written permission
  • Provide false, misleading, or fraudulent information
  • Use the Service to harm, harass, or violate the rights of others

5. Financial Data and Bank Connections

5.1 Bank Account Linking

Our Service may allow you to connect your bank accounts and financial institutions to automatically import transaction data. By linking your accounts, you authorize us to:

  • Access your account information and transaction history
  • Retrieve and store transaction data for analysis and categorization
  • Provide you with financial insights based on your spending patterns

5.2 Data Accuracy

While we strive to provide accurate financial data and insights, we cannot guarantee the accuracy, completeness, or timeliness of all information. You are responsible for verifying the accuracy of your financial data and should not rely solely on our Service for financial decisions.

5.3 Third-Party Financial Services

We use third-party services to connect to your financial institutions. These connections are subject to the terms and conditions of those third-party providers. We are not responsible for the availability, accuracy, or security of third-party services.

6. Privacy and Data Protection

Your privacy is important to us. Our collection, use, and protection of your personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference.

6.1 Data Deletion Rights

You have the right to request deletion of your personal data at any time. Upon receiving a valid deletion request, we will:

  • Delete your account and all associated personal information
  • Remove your data from our active systems within 30 days
  • Notify third-party services to delete your data where applicable
  • Provide confirmation of data deletion upon completion

Some data may be retained for legal compliance, fraud prevention, or legitimate business purposes as outlined in our Privacy Policy.

7. Intellectual Property Rights

7.1 Our Rights

The Service and all content, features, and functionality are owned by Figu and are protected by copyright, trademark, and other intellectual property laws. You may not reproduce, distribute, modify, or create derivative works without our written permission.

7.2 Your Content

You retain ownership of any content you provide to the Service. By using the Service, you grant us a limited, non-exclusive license to use your content solely for providing and improving our services.

8. Fees and Payment Terms

8.1 Service Fees

During the development phase, access to the Service may be provided free of charge. Upon official launch, we may introduce subscription fees or other charges. Any fees will be clearly communicated before implementation.

8.2 Payment Processing

When fees are introduced, payments will be processed through secure third-party payment processors. You agree to provide accurate payment information and authorize us to charge applicable fees to your chosen payment method.

8.3 Refunds

Refund policies will be established and communicated when paid services are introduced. Generally, fees are non-refundable except as required by applicable law or our specific refund policy.

9. Disclaimers and Limitations of Liability

9.1 Service Disclaimers

IMPORTANT: The Service is provided "as is" and "as available" without warranties of any kind. We disclaim all warranties, express or implied, including:

  • Merchantability and fitness for a particular purpose
  • Accuracy, completeness, or reliability of financial data
  • Uninterrupted or error-free operation
  • Security or privacy of data transmission

9.2 Financial Advice Disclaimer

Our Service provides informational content and analysis tools but does not constitute financial, investment, tax, or legal advice. You should consult with qualified professionals before making financial decisions based on information from our Service.

9.3 Limitation of Liability

To the maximum extent permitted by law, Figu shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunities, arising from your use of the Service.

10. Indemnification

You agree to indemnify, defend, and hold harmless Figu and its officers, directors, employees, and agents from any claims, damages, losses, or expenses arising from your use of the Service, violation of these Terms, or infringement of any third-party rights.

11. Termination

11.1 Termination by You

You may terminate your account at any time by contacting us or using the account deletion feature in the Service. Upon termination, your right to use the Service will cease immediately.

11.2 Termination by Us

We may terminate or suspend your account immediately, without prior notice, if you violate these Terms or engage in conduct that we determine is harmful to the Service or other users.

11.3 Effect of Termination

Upon termination, we will delete your account and personal data in accordance with our Privacy Policy, except where retention is required by law or for legitimate business purposes.

12. Governing Law and Dispute Resolution

12.1 Governing Law

These Terms are governed by and construed in accordance with the laws of [Jurisdiction], without regard to conflict of law principles.

12.2 Dispute Resolution

Any disputes arising from these Terms or your use of the Service will be resolved through binding arbitration in accordance with the rules of [Arbitration Organization]. You waive any right to participate in class action lawsuits or class-wide arbitration.

13. Miscellaneous

13.1 Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Figu regarding the Service and supersede all prior agreements and understandings.

13.2 Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions will remain in full force and effect.

13.3 Assignment

You may not assign or transfer your rights under these Terms without our written consent. We may assign our rights and obligations under these Terms without restriction.

14. Contact Information

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

Figu Legal Team

Email: contact@figu.app

We will respond to your inquiry within 5 business days.