Privacy Policy for Wealthy
Effective Date: 12 Nov 2024
Wealthy (“we”, “our”, or “us”) is committed to protecting and respecting your privacy. This Privacy Policy explains how we collect, use, store, and protect your personal information when you use the Wealthy app (“App”). By using the App, you agree to the practices outlined in this Privacy Policy.
When you use Wealthy, we collect and store minimal personal information to provide you with the best experience and to ensure the security of your account. Specifically:
- Email Address: The only personal information we collect is your email address. This is required for authentication purposes and to assign you with the appropriate user account.
- Purpose: We use your email address to:
- Authenticate and log you into the app.
- Identify and assign you to your account.
- Provide you with a personalized experience by remembering which account is currently logged in.
We do not collect, store, or use any other personal information (such as name, address, phone number, or payment details). All other data you enter into the app is related to the functionality of the app (such as managing financial accounts, categories, transactions, and budgets).
2. Data You Provide
In addition to the required email address, the app functionality allows you to:
- Add, Edit, or Delete Financial Accounts: The app enables you to manage financial accounts representing various financial units, such as checking accounts, credit cards, etc.
- Add, Edit, or Delete Categories: You can categorize your transactions (e.g., groceries, entertainment, bills, etc.) to help organize and analyze your financial activities.
- Add, Edit, or Delete Income, Expense, and Transfer Transactions: You can track and manage your personal financial transactions, including income, expenses, and transfers between accounts.
- Add, Edit, or Delete Budgets: The app allows you to create, modify, and track budgets to monitor your spending and savings goals.
This data is stored locally on your device using SwiftData (Apple’s native data storage solution). Additionally, all of this data is synchronized with Google Firebase to ensure that your progress is saved and accessible across devices.
3. Data Synchronization and Storage
To ensure your progress is saved and accessible across devices, your data is synchronized with Google Firebase, which is used for remote storage. Firebase provides a secure and reliable infrastructure for syncing your data across platforms.
- Local Storage: Your data (e.g., financial records, account instances, budgets, transactions, and categories) is stored locally on your device using SwiftData.
- Remote Storage: Your data is also synchronized with Google Firebase servers to ensure your progress is saved in the cloud.
Encryption
- In Transit: All data transmitted between your device and Firebase is encrypted using Transport Layer Security (TLS) to protect it from unauthorized access.
- At Rest: Data stored on Firebase servers is encrypted using industry-standard encryption techniques, ensuring the protection of your data both during transmission and when stored on Firebase’s servers.
4. User Control and Data Deletion
We want to provide you with full control over your data:
- Sign Out: If you choose to sign out of your account, the app will log you out, and all local data (stored on your device) will be deleted. However, your remote data (on Firebase) will remain intact.
- Delete Account: If you choose to delete your account, we will sign you out, and both local and remote data related to your account (including email and all data related to financial accounts, categories, transactions, and budgets) will be permanently deleted. This action cannot be undone.
5. Data Sharing and Third-Party Services
We do not share your personal data (such as your email address or financial data) with any third parties. However, we use third-party services to provide certain functionalities within the app, including:
- Firebase Authentication: We use Firebase Auth for logging in and managing your user account. Firebase handles the authentication process, but we only collect your email address for account identification and authentication purposes.
- Firebase Storage: We use Firebase for syncing and storing user data in the cloud. This includes the data you enter into the app, such as your financial accounts, transactions, categories, and budgets.
These services are governed by their respective privacy policies, and we encourage you to review their policies:
6. Data Retention
We retain your personal data only for as long as necessary to provide you with the services of the app, and as required for legal and business purposes. If you choose to delete your account, all your personal data will be deleted permanently.
7. Security
We take the security of your data seriously and have implemented appropriate technical and organizational measures to protect your data from unauthorized access, alteration, or disclosure.
- Encryption: As mentioned, all data is encrypted during transmission and storage.
- Authentication: Firebase Authentication handles the login process securely, requiring a valid email and password (or third-party authentication) for access.
8. Your Rights
As a user, you have certain rights over your data, including:
- Access: You can access the data you’ve entered in the app (such as your financial records) at any time.
- Deletion: You can delete your account and all associated data from the app, as detailed above.
If you have any questions or concerns about how we process your personal data or wish to exercise your rights, please contact us at the email provided below.
9. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. When we make changes, we will update the “Effective Date” at the top of this page and notify you via in-app notification or other appropriate communication channels. We encourage you to review this Privacy Policy periodically to stay informed about how we are protecting your data.
If you have any questions about this Privacy Policy or our data practices, please contact us at:
Email: deni13yarec@gmail.com