Terms & Conditions

Last updated: July 31, 2018


Welcome to mypennyprofit.com! This Terms of Service and User Agreement (the “Agreement”) explains how the services available on mypennyprofit.com (the “Site”) work and how they are used. The service is brought to you by Penny Profit, LLC (“Penny Profit,” “We,” “Us,” “Our”). Penny Profit provides an interactive platform that provides a fun and easy way to save money individually or as a group (the “Platform”). Services refers to Your use of Our interactive Platform including but not limited to accessing the website, creating an account, accessing Your account, linking Your account with financial services as well as any other products, features, tools, materials or other services offered from time to time by Penny Profit (the “Services”).

If you are accessing and using the Services on behalf of a company, you represent and warrant that you are authorized to bind the company and that you are accepting the Agreement on the company’s behalf. When used in the Agreement, “you” or “your” will refer to you as an individual and to your company if you are accepting the Agreement on behalf of a company.


Penny Profit provides users with an opportunity to set Active Accounts with Penny Profit where Penny Profit will round up purchase in the Active Account to the nearest dollar to save the difference or save a set amount each time you make a purchase using the Active Account. The Platform allows users to save as an individual or create group funds.
At this time, the Services are only available for Users with depository accounts held by financial institutions that have a physical presence in the United States of America. Penny Profit looks forward to sharing the Services internationally in the future.

Eligibility. By opening an Account You affirm that you are at least eighteen years old and have the legal capacity to enter into this Agreement.
Account Access. You agree that you will not grant any person access to your Account, except as described herein, granting access may violate applicable laws and regulations and may result in the immediate termination of your Account.

Account Communication. You agree and understand that all communication with You will be by email. We will use the email address associated with Your Account as Our primary means of communication with You. You agree to keep Your email address up-to-date and immediately notify us if there are any changes. We retain the right to deny access to the Platform and Your Account if You fail to provide and maintain a valid email address.

Account Closure. You may close Your Account at any time. Closing Your Account will not affect any rights and obligations incurred prior to the Account closure. You may be required to complete or cancel all open transactions. Subscription fees paid during the month of closure will not be refunded.

Account Type. You will have an account on the Platform showing you the amount of money you have saved from the Services (“Penny Profit Account”). Each User will also have at least one account that is connected to a depository account (“Primary Account”). The Primary Account is the account in which Penny Profit will transfer your funds when you withdraw them from your Penny Profit Account. A User may then connect accounts, such as a credit card account, checking account, or other actively used account (“Active Account(s)”) for Penny Profit to monitor for the purchases which Penny Profit will apply the Services. As your Active Account(s) makes a purchase, Penny Profit will transfer to your Penny Profit Account the amount you have designated to be saved from each purchase. It is the number of transactions in your Active Account(s) that determines the amount you save in your Penny Profit Account.


You acknowledge and understand that We are not giving investment advice, tax advice, legal advice, or other professional advice by allowing You to access and use the Site, Application, or Platform. The Services on the Platform are provided on a strictly “as is,” “where is,” and “where available” basis.

Your use of and conduct on the Platform is subject to applicable laws and regulations. By creating an account, accessing or using this Site, Application or the Platform You agree to be legally bound and adhere to this Agreement, all terms incorporated by reference, and applicable laws and regulations.

We grant to You a limited, non-exclusive, non-assignable, non-transferable license to access and use the Service, subject to Your agreement to and compliance with this Agreement. We reserve all rights not otherwise expressly granted by this Agreement.

Conditional Use. Access to the Platform and Your account are conditional upon the following representations and warranties: (1) all of the information You have provided to Us is truthful, accurate, and complete and will remain truthful, accurate, and complete; (2)You are not located in, under the control of, or a national or resident of any country to which the United States has embargoed goods or services; (3) You agree to be solely responsible for maintaining the security of your Account login credentials and other required forms of authentication.

Prohibited Use. You may not: (1) rent or sell the Service to a third party; (2) copy or reverse engineer the Service or Platform; (3) create derivative works of the Service or Platform; (4) change or alter information, material, content, or notices in the Service or Platform; (5) use a bot or other automatic process to harvest information, material, or content in the Service or Platform; (6) introduce a virus or malicious code into the Service or Platform; (7) use the Service or Platform to violate a third party’s intellectual property rights; (8) send advertisements or spam using or through Service or Platform; (9) use any information, material, or content in the Service or Platform to create a competing service; (10) engage in any activity, including, but not limited to sales or purchases that interfere with the ordinary and open operation of the Service or Platform; or (11) engage in any activity that violates this Agreement or any applicable law or regulation.

Transaction Timing. You acknowledge and understand that due to the processing practices of individual financial institutions there may be a delay, possibly up to five or seven days, before your funds are processed.

Withdrawal Dollar Limits. You acknowledge and understand that no more than one hundred dollars may be withdrawn from any pending transfers.


This Agreement is effective until You or We terminate it. You may terminate this Agreement at any time by discontinuing Your use of the Service. We may terminate this Agreement at any time and for any reason without prior notice to You, and accordingly, We may deny you access to the Service. Termination of this Agreement will not affect any right or relief to which We are entitled at law or in equity. Upon termination of this Agreement, You must terminate all use of the Service and any information or materials that have been provided to you. The terms and conditions in this Agreement that by their nature and context are intended to survive any termination of this Agreement will survive such termination and will be fully enforceable thereafter. You will not be refunded any subscription amounts.

We may report Your fraudulent activity or a breach of this Agreement to the relevant law enforcement authorities and We will cooperate with those authorities by disclosing Your identity to them. In the event of your fraudulent activity or breach of this Agreement, as determined at our sole and absolute discretion, Your right to use Our Service will cease immediately, and We may modify, reduce or withhold Your Credits, if any, until final resolution or adjudication of such an action.


Subscription. Your mypennyprofit.com account is free for the first month. Thereafter, We charge a fee to continue to utilize the Services. Currently the fee is $2 per month. The Services may include different offerings and features, with different benefits, conditions, and limitations. You can find the specific details about Your subscription at any time by logging into Your Penny Profit Account. Because the Services are offered in multiple time zones, for consistency, a “day” for purposes of this Agreement begins at 12:00 a.m. Pacific Standard Time of that same calendar day.

We reserve the right to change the terms of Your subscription, including price, from time to time, effective as of the beginning of Your next Billing Period following the date of the change. If We change the subscription fee or other charges for Your subscription, We will give You advance notice of these changes. However, We will not be able to notify You of changes in any applicable taxes.

Billing. Generally the monthly subscription fee will be withdrawn from your Penny Profit Account, but we reserve the right to withdraw the subscription from your Primary Account, if your Penny Profit Account does not have the funds to pay the fee (“Payment Method”) for Your subscription. You are expressly agreeing that We are authorized to charge You a periodic subscription fee on a recurring basis corresponding to the term of Your subscription, any other fees for additional services You may purchase, and any applicable taxes in connection with your use of Your subscription to the Payment Method. If You want to use a different Payment Method than the one You signed up to use during registration, or if there is a change in Your Primary Account’s validity or expiration date, You may edit your Payment Method information by logging into Your account and viewing Your account details. When You provide a Payment Method to access a subscription, including in connection with a free trial offer, Our system will attempt to verify the information You entered. We do this by processing an authorization hold, which is a standard practice. We do not charge You in connection with this authorization hold. If Your Payment Method expires and you do not edit Your Payment Method information or cancel Your account, You authorize Us to continue billing, and You will remain responsible for any uncollected amounts.

As used in these Terms, “billing” shall indicate either a charge or debit, as applicable, against Your Payment Method. The subscription fee will be billed at the beginning of Your subscription or expiration of Your free trial period, if any, whichever is earlier, and on each periodic renewal date thereafter unless and until You cancel your subscription or the account or service is otherwise suspended or discontinued pursuant to these Terms. To see the commencement date for Your next renewal period, log into Your account.


By connecting Your depository account (the “Primary Account”) to Your Penny Profit account you are expressly agreeing that Penny Profit is authorized to debit the Primary Account in amounts corresponding with Your account settings and any other fees for additional services You may purchase, and any applicable taxes in connection with your use of your account.


It is important that each User honor the payment obligations to which the User agreed. Accordingly, We reserve the right to retry billing your Primary Account after failed attempts. We also reserve to pursue amounts you fail to pay in connection with Your account. You will remain liable for all such amounts and all costs incurred in connection with collection of these amounts, including, without limitation, bank overdraft fees, collection agency fees, reasonably attorneys’ fees and arbitration or court costs.


Any and all personal data provided to Us will be processed in accordance with Our privacy policy. By accepting this Agreement You also give Your consent for the processing and Use of Your personal data in accordance with Our privacy policy.


Third parties may provide or facilitate links, tools, widgets, or other features that allow you to access other sites, services (“Third Party Resources”). These Third Party Resources are provided solely as a convenience to you and based upon your account information or the content you elect to view. Penny Profit does not control and is not responsible for and does not endorse the content of Third Party Resources, including any products, information, or materials contained therein. You need to use your own independent judgment regarding your interaction with these Third Party Resources. Some of the content served by Us will be from merchant sites, and sales through these sites may generate a commission payable to Us. We accept no responsibility for reviewing changes or updates to, or the quality, content, policies, nature or reliability of third party web sites, including, without limitation, Third Party Resources and websites linking to the Site or Application.


In the event there is an issue, We want to make the resolution process as quick and efficient as possible. You agree to first discuss the issue informally for at least 30 days with Us. To do that, please send your full name, and contact information, your concern and your proposed solution by mail to Penny Profit at 3539 E Summer Estates Cir, Cottonwood Heights, Utah 84121 Att: Legal Department. If We would like to discuss an issue with You, We will contact You using the email address You provided when You created Your account.

If we do not reach an agreed upon solution after our discussions for at least 30 days, You agree that any and all claims that either of us may have arising out of or relating to: (1) these Terms (including formation, performance, or breach of them, and including the scope and enforceability of this arbitration provision), (2) the Privacy Policy, which is incorporated in these Terms; (3) any aspect of our relationship with each other, and (4) use of the Services must be resolved through binding arbitration before the American Arbitration Association (“AAA”).

Penny Profit will not be liable for any direct, indirect, punitive, incidental, special, consequential, damages or any damages whatsoever including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the content and use or performance of the Site or Application, with the delay or inability to access or use the Site or Application, the provision of or failure to provide services, or for any content, software, products and services made available or obtained through the Site, Application, or Use of the Services, whether based on contract, tort, negligence, strict liability or otherwise. Any services or content made available or obtained through the use of the Site or the Application, and all other use of the Site or Application is done at Your own discretion and risk and You will be solely responsible for any damage to your computer system or loss of data that results therefrom.

By agreeing to this binding arbitration clause, You understand that You are waiving certain rights and protections which may be available to You if a claim or dispute were determined by the court system, including, without limitation, the right to seek or obtain certain types of damages, the right to a jury trial, certain rights of appeal, the right to bring a claim as a class member in any purported class or representative proceeding, and the right to invoke formal rules of procedure and evidence.


Intellectual Property and Ownership; Use of Marks. All Penny Profit Marks and all intellectual property rights therein and thereto are and shall be at all times remain the sole and exclusive property of Penny Profit and are protected by applicable intellectual property laws and treaties.

Headings. All headings are solely for the convenience of reference and shall not affect the meaning, construction or effect of this Agreement.

Revisions to this Agreement. Penny Profit reserves the right to, from time to time, revise this Agreement in its sole and absolute discretion. Any modifications or changes to this Agreement are in force and enforceable immediately upon posting. Any updated or edited version supersedes any prior versions immediately upon posting, and the prior version is of no continuing legal effect unless the revised version specifically refers to the prior version and keeps the prior version or portions thereof in effect.

If You fail to periodically review this Site and Agreement to determine if any of the terms have changed, You assume all responsibility for Your failure to do so and agree that such failure amounts to Your affirmative waiver of Your rights to review the amended terms.

Entire Agreement. This Agreement, together with Our Privacy Policy, constitutes the entire agreement between the parties with respect to Your access and use of the Site, Services and the Materials contained therein, and your use of the Site and Services. This Agreement, together with our Privacy Policy, supersedes and replaces all prior understandings or agreements, written or oral, regarding such subject matter.

Severability. If for any reason a court of competent jurisdiction or an arbitrator finds any provisions of this Agreement, or any portion thereof, to be invalid, unenforceable or illegal, such invalidity, unenforceability or illegality shall not affect the remainder of this Agreement.

Governing Law. This Agreement, Your use of the Site, Your rights and obligations, and all actions contemplated by, arising out of or related to this Agreement shall be governed by the laws of the State of Utah, as if this Agreement is a contract wholly entered into and wholly performed within the State of Utah.

Other Jurisdictions. Penny Profit makes no representation that the Site, Services or any of the Materials contained therein are appropriate or available for use in other locations, and access to them from territories where their content or function may be illegal or is otherwise prohibited. Those who choose to access the Site and Services from such locations do so on their own initiative and are solely responsible for determining compliance with all applicable local laws.


If you have any questions or concerns regarding this Agreement, the Site, or the Service, please contact us at info@mypennyprofit.com.