This Terms of Service & Privacy Policy ("Agreement") governs your access to and use of Welo (the "App"), operated by Welo ("we," "us," or "our"). By creating an account, accessing, or using the App, you agree to this Agreement. If you do not agree, you must not use the App.
1. Purpose of the App
Welo is a personal finance and expense-tracking application that allows users to:
- Log and categorize expenses
- Connect bank accounts to import transactions and balances automatically
- Track spending habits, budgets, and goals
- Create and interact with posts and community features
- Follow other users
- Earn points, streaks, badges, and achievements through gamified features
Welo does not provide financial, investment, tax, or legal advice. All content and insights are for informational purposes only.
2. Eligibility
- You must be at least 13 years old (or the minimum age required by law in your jurisdiction) to use the App.
- If you are under 18, you confirm that you have permission from a parent or legal guardian.
3. User Accounts & Security
You are responsible for:
- Maintaining the confidentiality of your account credentials
- Providing accurate and up-to-date information
- All activity that occurs under your account
We reserve the right to suspend or terminate accounts that violate this Agreement or applicable law.
4. Data We Collect
4.1 Personal Information
- Email address
- Authentication identifiers (e.g., Google authentication ID)
4.2 Financial & App Data
- Expenses you manually enter (amount, category, date, notes)
- Budgets, goals, and summaries derived from your inputs
- If you choose to connect a bank account, the account and transaction data described in section 4.3
4.3 Bank Connections (optional)
Connecting a bank account is entirely optional. The App works fully without it, and you can use Welo by entering expenses yourself.
If you choose to connect a bank account, we use Plaid Inc. ("Plaid") to establish and maintain that connection. You enter your bank credentials directly with Plaid. Welo never receives, sees, or stores your bank username, password, or security codes.
Through Plaid, and only for the accounts you choose to share, we receive the following information on a read-only basis:
- Account details: institution name, account name and type, the last digits of the account number, and currency
- Balances: current balance, available balance, and credit limit where applicable
- Transactions: date, amount, merchant or description, category, location where provided by your bank, and whether a transaction is pending or posted
4.4 Social & Community Data
- Posts, comments, and content you choose to create
- Likes, reactions, and engagement activity
- Followership data (who you follow and who follows you)
- Public profile information you choose to display
4.5 Gamification & Progress Data
- Points earned
- Streaks (e.g., consecutive logging weeks)
- Badges, achievements, and milestones
- Participation in challenges or reward systems
All gamification elements are virtual, non-transferable, and have no monetary value.
4.6 Usage & Technical Data
- Feature usage and interaction data
- Timestamps and session information
- Device type, operating system, and app version
- Crash reports and anonymized analytics identifiers
5. Additional Data Collection
As the App evolves, we may collect additional categories of data where reasonably necessary to:
- Introduce new features
- Improve personalization and insights
- Enhance security and prevent abuse
- Comply with legal or regulatory obligations
Any material changes to data collection will be disclosed through updates to this Agreement or in-app notices where required by law.
6. How We Use Data
We use collected data to:
- Operate and maintain the App
- Display your connected accounts, balances, and transactions
- Provide personalized insights and progress tracking
- Enable social and community features
- Power gamification systems (points, streaks, rewards)
- Improve performance, usability, and security
- Detect fraud, abuse, or technical issues
- Comply with legal obligations
We do not sell or rent personal data. We do not use your bank account or transaction data for advertising, and we do not share it with third parties for their own marketing purposes.
7. Data Storage & Security
User data is stored using secure, industry-standard cloud infrastructure.
- Data is encrypted in transit using HTTPS/TLS
- Data is encrypted at rest where supported
- Access is restricted to authorized systems only
- Credentials used to access a connected bank are encrypted before storage, are held only on our servers, and are never accessible from the App
While we implement reasonable safeguards, no system can guarantee absolute security.
8. Legal Bases for Processing (Europe)
If you are located in the European Economic Area (EEA), United Kingdom, or Switzerland, we process personal data under GDPR based on:
- Your consent
- Contractual necessity (providing the App)
- Legitimate interests (security, analytics, product improvement)
Where you connect a bank account, we rely on your explicit consent, which you give before the connection is created and may withdraw at any time by disconnecting the bank in the App.
Your GDPR Rights
- Access your personal data
- Correct inaccurate or incomplete data
- Request deletion ("right to be forgotten")
- Restrict or object to processing
- Request data portability
- Withdraw consent at any time
9. California Privacy Rights (CCPA / CPRA)
If you are a California resident, you have rights under CCPA and CPRA. You have the right to:
- Know what personal data we collect and how it is used
- Request access to your personal data
- Request deletion of your personal data
- Request correction of inaccurate personal data
- Opt out of the sale or sharing of personal data
- Not be discriminated against for exercising privacy rights
Welo does not sell or share personal data as defined by CCPA/CPRA.
10. Data Retention & Deletion
Personal data is retained while your account remains active and for as long as we need it to provide the App.
Bank connection data. Data obtained from a connected bank is retained only while that bank remains connected to your account. When you disconnect a bank, we revoke our access with Plaid, delete the stored access credentials, and delete the transactions imported from that bank. If a connected account stops being shared with us, it is removed along with the transactions it provided the next time we synchronize.
Deleting your account. You can delete your Welo account at any time from Profile → Settings → Delete account. Deleting your account:
- Disconnects every linked bank and revokes our access with Plaid
- Deletes the stored bank access credentials
- Deletes your accounts, transactions, budgets, transfers, subscriptions, templates, settings, notifications, and gamification data
- Deletes your profile, posts, comments, and follower relationships
You may also request deletion by emailing welo.customers@gmail.com from the address associated with your account. We will action the request within 30 days.
Data may be retained beyond these periods only where required by law, and backup copies are removed on our standard backup cycle.
11. International Data Transfers
Your data may be processed and stored on servers located outside your country of residence. Where required, appropriate safeguards (such as standard contractual clauses) are applied.
12. Third-Party Services
The App relies on third-party services for hosting, authentication, analytics, or infrastructure. These services operate under their own privacy policies and applicable laws.
Plaid. If you choose to connect a bank account, we use Plaid Inc. to establish and maintain that connection. Plaid collects your bank credentials directly, authenticates you with your bank, and provides us with the account and transaction data described in section 4.3. Plaid's handling of your information is governed by Plaid's End User Privacy Policy, available at plaid.com/legal. By connecting a bank account, you also agree to Plaid's End User Privacy Policy.
13. User Conduct
You agree not to:
- Use the App for unlawful or fraudulent purposes
- Access or attempt to access another user's data
- Manipulate points, streaks, or reward systems
- Reverse-engineer, disrupt, or exploit the App
14. Intellectual Property
All software, content, branding, logos, and designs associated with the App are owned by or licensed to Welo and protected by intellectual property laws.
15. Limitation of Liability
The App is provided "as is" and "as available." To the maximum extent permitted by law, we are not liable for financial losses, inaccuracies, or decisions made based on App data. Account balances and transactions imported from a connected bank are provided by your financial institution and may be incomplete, delayed, or subject to change. Your bank's own records remain authoritative.
16. Termination
You may stop using the App at any time. We reserve the right to suspend or terminate access for violations of this Agreement or applicable law.
17. Changes to This Agreement
We may update this Agreement from time to time. The "Last Updated" date will reflect the most recent version. Continued use of the App constitutes acceptance of any updates.
18. Contact Information
For questions, privacy requests, or legal inquiries: Welo.customers@gmail.com
© 2026 Welo. All rights reserved.