Terms of Service

1. Overview of Service

1.1 What Lumo Does

Lumo is a personal financial management tool that helps you understand your financial health. Our Service provides:

• Read-only access to your bank account and transaction data through secure third-party connections
• Automated categorisation of your transactions
• A financial health score based on your spending patterns, income, and financial habits
• Cash flow forecasting and financial projections
• Goal tracking and planning tools
• AI-powered insights and explanations about your finances

1.2 What Lumo Does Not Do

Lumo is not a bank, investment adviser, or financial planner. We do not:

• Hold, transfer, or manage your money
• Initiate any transactions on your behalf
• Provide personalised financial, tax, or investment advice
• Guarantee the accuracy of forecasts or projections
• Replace professional financial guidance

2. Eligibility and Account Registration

2.1 Eligibility

To use Lumo, you must:

• Be at least 18 years of age
• Be a resident of a country where our Service is available
• Have a valid bank account with a supported financial institution
• Have the legal capacity to enter into these Terms

2.2 Account Security

You are responsible for:

• Maintaining the confidentiality of your login credentials
• All activities that occur under your account
• Notifying us immediately of any unauthorised access or security breach
• Ensuring your account information is accurate and up to date

We recommend using a strong, unique password and enabling any additional security features we offer.

3. Bank Account Connections

3.1 Open Banking

Lumo uses Open Banking technology and authorised third-party providers to securely access your financial data. When you connect a bank account, you authorise us to:

• Retrieve read-only access to your account balances
• Retrieve your transaction history
• Continue accessing this data until you revoke permission

3.2 Read-Only Access

Our access to your bank accounts is strictly read-only. We cannot and will not:

• Make payments or transfers from your accounts
• Modify your account settings or details
• Access your banking login credentials

3.3 Third-Party Providers

We partner with regulated Open Banking providers (such as TrueLayer and similar services) to facilitate secure connections. These providers are authorised and regulated by relevant financial authorities. Your use of these connections is also subject to their terms of service.

4. AI Features and Limitations

4.1 AI-Powered Insights

Lumo uses artificial intelligence to provide insights about your finances, including:

• Transaction categorisation
• Spending pattern analysis
• Financial health assessments
• Conversational explanations of your data

4.2 Limitations of AI

You understand and acknowledge that:

• AI-generated insights are informational only and not financial advice
• Categorisations may occasionally be inaccurate
• Forecasts and projections are estimates based on historical data and may not reflect future reality
• The AI copilot cannot execute transactions or make financial decisions for you
• You should always verify important financial information independently

4.3 No Professional Advice

The information provided by Lumo, including any AI-generated content, does not constitute financial, tax, legal, or investment advice. For such advice, please consult with qualified professionals.

5. Your Responsibilities

When using Lumo, you agree to:

• Provide accurate and truthful information
• Use the Service only for lawful purposes
• Not attempt to gain unauthorised access to our systems
• Not reverse engineer, decompile, or disassemble any part of the Service
• Not use the Service to harm others or for fraudulent purposes
• Keep your account credentials secure
• Comply with all applicable laws and regulations

6. Intellectual Property

6.1 Our Property

The Service, including its design, features, content, algorithms, and underlying technology, is owned by Bloom Corp Ltd and protected by intellectual property laws. You may not copy, modify, distribute, or create derivative works without our express written permission.

6.2 Your Data

You retain ownership of your personal and financial data. By using the Service, you grant us a limited, non-exclusive licence to use your data solely for the purpose of providing and improving the Service, as described in our Privacy Policy.

7. Fees and Payment

Lumo is currently offered free of charge during our initial launch period. We reserve the right to introduce paid features or subscription plans in the future, with reasonable advance notice to existing users.

If we introduce paid features, we will clearly communicate pricing, billing terms, and any changes to your current plan before they take effect.

8. Privacy and Data Protection

Your privacy is important to us. Our collection, use, and protection of your personal data is governed by our Privacy Policy, which forms part of these Terms. Please review it carefully.

9. Disclaimers

9.1 Service Provided "As Is"

The Service is provided on an "as is" and "as available" basis. To the fullest extent permitted by law, we disclaim all warranties, express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement.

9.2 No Guarantee of Accuracy

While we strive for accuracy, we do not guarantee that:

• Financial data will always be complete or current
• Transaction categories will always be correct
• Forecasts or scores will accurately predict future outcomes
• The Service will be uninterrupted or error-free

10. Limitation of Liability

To the fullest extent permitted by applicable law:

• Bloom shall not be liable for any indirect, incidental, special, consequential, or punitive damages
• Our total liability for any claims arising from these Terms or your use of the Service shall not exceed the amount you have paid us in the twelve months preceding the claim
• We are not liable for any loss or damage arising from your reliance on information provided by the Service

Nothing in these Terms shall limit our liability for death or personal injury caused by our negligence, fraud, or any other liability that cannot be limited by law.

11. Termination

11.1 Your Right to Terminate

You may delete your account at any time through the app settings. Upon deletion, we will remove your personal data in accordance with our Privacy Policy and applicable data retention requirements.

11.2 Our Right to Terminate

We may suspend or terminate your access to the Service if:

• You violate these Terms
• We are required to do so by law
• Your account has been inactive for an extended period
• We discontinue the Service

11.3 Effect of Termination

Upon termination, your right to use the Service will immediately cease. Sections of these Terms that by their nature should survive termination will continue to apply.

12. Dispute Resolution

12.1 Informal Resolution

Before filing any formal dispute, you agree to contact us first and attempt to resolve the dispute informally for at least 30 days.

12.2 Governing Law

These Terms are governed by and construed in accordance with the laws of England and Wales, without regard to conflict of law principles.

12.3 Jurisdiction

Any disputes arising from these Terms or your use of the Service shall be subject to the exclusive jurisdiction of the courts of England and Wales.

13. General Provisions

13.1 Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Lumo regarding the Service.

13.2 Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

13.3 No Waiver

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights.

13.4 Assignment

You may not assign or transfer these Terms without our prior written consent. We may assign our rights and obligations under these Terms without your consent.

14. Contact Us

If you have any questions about these Terms of Service, please contact us: