Privacy Policy

Your privacy is important to us. Here's how we protect and handle your data.

Last updated: December 2024

Security First

Bank-level encryption protects your data both in transit and at rest.

Transparency

We're clear about what data we collect and how we use it.

Your Control

You own your data and can export or delete it anytime.

Important Notice

We Are Not a Bank

Folosat is an expense tracking and bill splitting application. We are not a bank and do not provide banking services, hold funds, or process financial transactions. We help you track expenses and coordinate bill splitting among friends, but all actual payments are handled directly between users through their preferred payment methods (Venmo, PayPal, cash, etc.).

Your financial data (expense records, split calculations, savings goals) is kept secure and private, but we do not have access to your bank accounts, credit cards, or any actual funds.

Information We Collect

We collect information you provide directly to us, such as when you create an account, add expenses, or contact us for support.

  • • Account information (name, email, profile picture)
  • • Financial data (expenses, categories, amounts)
  • • Usage data (how you interact with our app)
  • • Device information (browser, IP address, device type)

How We Use Your Information

We use the information we collect to provide, maintain, and improve our services.

  • • Provide and maintain your account
  • • Process transactions and split expenses
  • • Send notifications and updates
  • • Improve our AI features and user experience
  • • Provide customer support

Data Security

We implement appropriate security measures to protect your personal information.

  • • End-to-end encryption for sensitive data
  • • Regular security audits and updates
  • • Secure cloud infrastructure
  • • Limited access controls for our team

Your Rights

You have several rights regarding your personal data:

  • • Access and download your data
  • • Correct inaccurate information
  • • Delete your account and data
  • • Opt out of communications
  • • Data portability

Contact Us

If you have any questions about this Privacy Policy, please contact us at hello@folosat.com