Sparsom Terms of Service

Sparsom is a personal finance app that gives you an overview of your spending. By connecting your bank, you get automatic transaction categorisation, alerts, insights and an AI assistant that answers questions about your finances.

The Service does not provide financial advice. Insights, alerts and responses from the AI assistant are information based on your own data, and do not constitute personal advice on investments, credit, loans or other financial products. Decisions you make based on the Service are made at your own risk.

• You must be at least 18 years old.
• You must hold a bank account with a bank supported by the Service.
• You must provide accurate information when registering and keep your account secure. You are responsible for activity occurring through your account.

Access to account information is provided via Neonomics AS, a licensed third-party provider under the Payment Services Directive (PSD2), supervised by the Financial Supervisory Authority of Norway (Finanstilsynet). The connection requires your explicit consent and takes place through your bank’s own authentication. Sparsom never has access to BankID or your bank login credentials.

Consent must be renewed periodically in accordance with PSD2 requirements. You can disconnect your bank in the app at any time. Without an active bank connection, parts of the Service will have limited functionality.

• Free trial: new users receive a 14-day free trial. The Service does not have a permanent free tier.
• Price: Sparsom Premium costs NOK 140 per month or NOK 1,090 per year. Current prices are always displayed in the app before purchase.
• Payment: the subscription is purchased and billed via the Apple App Store or Google Play, depending on your platform. Payment is handled by Apple/Google, and their terms apply in addition.
• Renewal: the subscription renews automatically at the end of each period unless you cancel no later than 24 hours before renewal.
• Cancellation: you cancel the subscription in the subscription settings of the App Store or Google Play. Cancellation takes effect at the end of the current billing period. Periods already paid for are not refunded, unless otherwise required by mandatory law or Apple’s/Google’s policies.
• Price changes: we may change prices with at least 30 days’ notice. Changes apply from the next renewal period, allowing you to cancel before the new price takes effect.

Purchases are made via the Apple App Store or Google Play, and any right of withdrawal or refunds are handled according to their procedures. Under Section 22(n) of the Norwegian Right of Withdrawal Act (angrerettloven), the right of withdrawal for digital content lapses once delivery has begun with your explicit consent and acknowledgement that the right of withdrawal is thereby lost. The 14-day free trial in any case allows you to try the Service at no cost.

• Transactions are categorised automatically using artificial intelligence. The categorisation may contain errors, and you can correct categories yourself in the app.
• The AI assistant may provide inaccurate or incomplete answers. Verify important information with your bank or other sources before making decisions.
• The AI assistant must not be used for purposes that are unlawful, harmful or in breach of the Terms.

You must not:

• Use the Service in a manner that violates Norwegian law.
• Attempt to circumvent security mechanisms, decompile or reverse engineer the Service.
• Connect bank accounts you are not authorised to access.
• Use the Service for automated data harvesting or resale of data.

In the event of a material breach of the Terms, we may suspend or terminate your account.

Sparsom AS owns all rights to the Service, including software, design, trademarks and content. You are granted a limited, non-exclusive and non-transferable right to use the Service for personal, non-commercial purposes for as long as you have an active subscription. Your own data remains yours.

The processing of personal data is described in our Privacy Policy, available at sparsom.ai. The Privacy Policy forms part of the agreement between you and Sparsom.

We strive to keep the Service available at all times but cannot guarantee uninterrupted operation. The Service depends on third parties (banks, Neonomics, Apple, Google, AI providers), and errors or downtime with these may affect the Service. We may change, improve or remove functionality. In the event of material changes to your detriment, we will notify you with reasonable notice.

The Service is provided "as is". To the extent permitted by mandatory law, Sparsom is not liable for:

• Indirect losses, including lost profits or losses resulting from decisions made on the basis of information in the Service.
• Errors or deficiencies in data provided by banks or third parties.
• Losses caused by circumstances beyond our reasonable control.

Sparsom’s total liability is in any event limited to the amount you have paid for the Service during the last 12 months. Nothing in the Terms limits rights you hold as a consumer under mandatory Norwegian law.

You may delete your account in the app at any time. Upon deletion, the bank connection is terminated and your personal data is handled as described in the Privacy Policy. Deleting your account does not automatically stop the subscription – it must be cancelled separately in the App Store or Google Play.

We may amend the Terms as needed. In the event of material changes, we will notify you in the app or by email at least 30 days before the change takes effect. Continued use of the Service after the changes take effect constitutes acceptance of the new terms. If you disagree with the changes, you may cancel your subscription and delete your account.

The Terms are governed by Norwegian law. Disputes shall be sought resolved amicably. As a consumer, you may complain to the Norwegian Consumer Authority (Forbrukertilsynet) or bring the matter before the Consumer Dispute Committee (Forbrukerklageutvalget). Disputes not resolved amicably may be brought before the ordinary courts with Oslo District Court as legal venue, unless mandatory venue rules provide otherwise.

Sparsom AS, org. no. 837 185 882

Email: contact@sparsom.ai