Privacy Policy

Last updated: August 4, 2025

The Highlights

Your time is valuable, but so is your data. If you skip reading the entire privacy policy, here are the key points:

Only Financial Data Stored

We only store transaction details from financial emails like bank alerts and UPI notifications. We never store entire emails or personal content.

Data Stays in India

Your financial data is stored on secure servers in India, compliant with all local regulations.

Never Sold

We never sell, trade, or rent your personal financial information to third parties. Period.

You Control Your Data

Delete your data anytime, export it in common formats, or choose which accounts to connect.

1. Introduction

MoneyPal, operated by UnMay Global Private Limited ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our financial management application and related services (the "Service").

About MoneyPal: We're a bootstrapped startup founded by Bala and Mouni from IIT Madras, building the financial coach we always wanted. We're funded by our own savings and your trust, not by selling your data.

By using our Service, you agree to the collection and use of information in accordance with this policy.

2. Information We Collect

2.1 Personal Information

We collect the following personal information when you register for our Service:

  • Full name
  • Email address
  • Phone number (optional, for WhatsApp notifications)

2.2 Financial Data (Email Analysis)

With your explicit consent, we access your email to identify financial transactions. However, we only extract and store specific transaction details from financial emails:

What We Store:

Important: We never store entire emails. We only extract and store transaction details such as:

  • Transaction amounts, dates, and merchant names from bank alerts
  • Payment details from UPI notifications (PhonePe, Google Pay, Paytm, etc.)
  • Purchase amounts and dates from credit card statements
  • Order values and merchant details from e-commerce receipts (Amazon, Flipkart, Swiggy, Zomato, etc.)
  • Investment amounts and fund details from investment confirmations
  • Premium amounts from insurance receipts
  • Bill amounts and due dates from utility confirmations

What We Never Store:

  • Entire emails or email content
  • Personal emails from friends, family, or colleagues
  • Work-related emails
  • Social media notifications
  • Draft emails or sent emails
  • Any non-financial content

Data Minimization: We access your email to identify financial transactions, but we only extract and store the essential transaction details listed above. The entire email content is never stored in our systems.

2.3 AI Analysis Data

Our AI companions (MoneyPal, GoalsPal, and InsightsPal) analyze your stored financial data to provide personalized insights:

  • MoneyPal AI: Analyzes spending patterns to answer tax, investment, and budgeting questions
  • GoalsPal: Uses your income and expenses to create realistic financial goal plans
  • InsightsPal: Identifies spending trends and provides actionable recommendations

AI Technology

Our AI companions are powered by OpenAI's GPT-4o-mini model. Your financial data is analyzed securely through OpenAI's API to generate personalized insights, with all data transmission encrypted and subject to strict usage policies.

2.4 Usage Data

We automatically collect information about how you use our Service, including app interactions, feature usage, and technical data such as device information and IP address.

3. How We Use Your Information

We use your stored financial information to:

  • Automatically categorize your transactions (Food, Transport, Shopping, etc.)
  • Provide personalized financial insights through our AI companions
  • Send you budget alerts and goal progress notifications
  • Generate spending reports and trend analysis
  • Improve our Service and develop new features
  • Communicate with you about your account and our services
  • Comply with legal obligations and prevent fraud

Transaction Categorization

We use AI to automatically categorize your stored financial transactions into categories like Food & Dining, Transportation, Shopping, Entertainment, Bills & Utilities, Healthcare, and more. This helps you understand your spending patterns without manual entry.

4. Your Data Control & Rights

4.1 Granular Permissions

You have full control over your data and can choose which email accounts to connect.

4.2 Data Export & Portability

You have the right to export your personal data in a commonly used format for transfer to another service provider.

4.3 Selective Data Deletion

You can delete specific types of data while keeping others:

  • Delete transaction history for specific time periods
  • Remove data from particular banks or accounts
  • Clear AI conversation history while keeping financial data
  • Complete account deletion with data purge within 30 days

4.4 Your Legal Rights

Under Indian data protection laws, you have the right to:

  • Access: Request a copy of the personal data we hold about you
  • Correction: Request correction of inaccurate or incomplete data
  • Deletion: Request deletion of your personal data
  • Portability: Request transfer of your data to another service
  • Withdrawal: Withdraw consent for data processing at any time
  • Grievance: File a complaint with our Data Protection Officer

5. Data Security

We implement industry-standard security measures to protect your information:

  • Encryption: All data is encrypted using AES-256 encryption in transit and at rest
  • Read-Only Access: We only request read-only access to your email; we never store passwords
  • Secure Infrastructure: Our servers are hosted in secure, SOC 2 compliant data centers in India
  • Access Controls: Only 2 team members (founders) can access user data, with full audit logs
  • Regular Audits: We conduct monthly security audits and vulnerability assessments
  • OAuth 2.0: We use industry-standard OAuth for email authentication

6. Team Access & Transparency

Who Can Access Your Data

As a small, bootstrapped startup, we maintain strict access controls:

  • Founders only: Only Bala and Mouni can access user data for support and development
  • No third-party access: We don't share access with investors, advisors, or external parties
  • Audit logs: Every data access is logged with timestamp and reason
  • Purpose limitation: Data is accessed only for bug fixes, feature development, or user support

7. Third-Party Services

Our Service uses the following third-party services to provide our features:

AI Analysis

  • • OpenAI GPT-4o-mini (Financial insights and AI chat)

Infrastructure

  • • Supabase (Database and data storage)
  • • Vercel (Application hosting)

All third-party services are subject to their respective privacy policies and our strict data sharing agreements. Your financial data shared with these services is encrypted and used only for providing MoneyPal's features.

8. Data Sharing and Disclosure

We do not sell, trade, or rent your personal information to third parties.

We may share your information only in the following limited circumstances:

  • With your explicit consent
  • To comply with legal obligations or court orders
  • To protect our rights, property, or safety, or that of our users
  • With trusted service providers who assist in operating our Service (under strict confidentiality agreements)

Acquisition Clause

If UnMay Global Private Limited is acquired or merges with another company, we will notify you at least 30 days before your data is transferred. You'll have the option to delete your data before the transfer or opt-out of the acquisition.

9. Data Retention

We retain different types of data for specific periods:

  • Transaction Data: Retained for 7 years (as per Indian financial regulations)
  • Personal Information: Retained until account deletion
  • AI Conversation History: Retained for 2 years or until manually deleted
  • Usage Analytics: Anonymized and retained for 3 years
  • Support Communications: Retained for 1 year after resolution

10. Email Access and Permissions

Our Service requires access to your email to identify financial transactions. Here's what you should know:

  • We access your email to identify financial transactions, but only extract and store transaction details
  • We never store entire emails - only specific transaction information like amounts, dates, and merchant names
  • Personal emails, work emails, and non-financial content are never stored
  • You can revoke email access at any time through your account settings
  • We use OAuth 2.0 for secure authentication - we never store your email password
  • All stored financial data is encrypted on secure servers in India

11. Incident Response

In the unlikely event of a data breach or security incident:

  • We will notify affected users within 72 hours
  • We will report to relevant authorities as required by law
  • We will provide clear information about what data was affected
  • We will implement additional security measures to prevent future incidents

12. Cookies and Tracking

We use cookies and similar technologies to improve your experience:

  • Essential cookies for app functionality
  • Analytics cookies to understand usage patterns (anonymized)
  • Preference cookies to remember your settings

You can control cookie preferences through your browser settings.

13. Children's Privacy

Our Service is not intended for children under 18 years of age. We do not knowingly collect personal information from children under 18. If you become aware that a child has provided us with personal information, please contact us immediately.

14. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. We will notify you of any changes by:

  • Posting the new Privacy Policy on this page
  • Sending you an email notification
  • Providing an in-app notification
  • Highlighting changes in our "What's New" section

Changes become effective immediately upon posting unless otherwise specified.

15. Compliance

UnMay Global Private Limited complies with applicable Indian data protection laws, including:

  • Digital Personal Data Protection Act, 2023 (DPDP Act)
  • Information Technology Act, 2000
  • Reserve Bank of India guidelines for financial data handling
  • Payment and Settlement Systems Act, 2007

16. Contact Us

If you have any questions about this Privacy Policy or our data practices, please contact us:

UnMay Global Private Limited - Privacy Team

Email: contactbalavicky@gmail.com

Phone: +91 8973810362

Address: UnMay Global Private Limited, Bengaluru, Karnataka, India

This Privacy Policy is effective as of August 4, 2025. By using MoneyPal, you acknowledge that you have read and understood this Privacy Policy.