1. What Wälo Is
Wälo is a software (SaaS) application for managing personal finances: tracking accounts and transactions, budgeting, goals, debts, and reports, with AI assistance for categorizing and summarizing. Wälo is not a financial, accounting, tax, or legal advisor: the information it shows you (projections, scores, suggestions) is informational, and the final decision is always yours. For important decisions, consult a licensed professional.
2. We Do Not Hold Your Money
Wälo is not a bank, e-wallet, brokerage, or financial intermediary, and is not regulated as one. We do not receive, hold, or move your money: we operate in a read-and-record mode over information you enter or your bank sends you. Your actual funds always stay with your banking institutions.
3. How Your Financial Data Gets In
Today you can bring in your transactions four ways: entering them manually, importing a file (CSV, Excel, PDF, or QIF from your bank), forwarding your bank's notification emails to your Wälo address (read by AI to extract the transaction), or connecting your bank directly. Direct bank connection is in a controlled pilot phase with limited coverage by country and bank: it is not available to the full user base yet, and where no bank aggregator is available, email and file imports are the way in.
4. Your Account and Acceptable Use
You must be at least 18 years old and provide real contact details to register. You are responsible for your password and everything that happens in your account; we recommend enabling two-factor authentication (2FA) in Settings. You may not use Wälo for illegal purposes or fraud, attempt to extract the source code, automate access without permission, resell the service, or share your account with people outside your household.
5. Plans, Trial, and Billing
The Free plan is available indefinitely. Premium and Family offer a 14-day trial with no card required; after that, the account reverts to Free unless you activate a paid plan. While Wälo has no registered company to bill through, subscribing to a paid plan generates no charge: you get the full plan with no card and no fee. We will email you at least 30 days before we start charging, and you will be able to cancel at no cost before that happens. Once billing is active: it is processed through our current payment provider (ONVO Pay), it renews automatically unless cancelled, you can cancel anytime from Settings, and any price change is announced at least 30 days ahead. Refunds are governed by our Refund Policy, which forms part of these Terms.
6. Your Data and Content
Your transactions, budgets, goals, and categories are yours. We use them only to provide the service. You can export them anytime (Settings → Account → Export) and delete your account at any time; deletion is permanent and is explained in detail in our account-deletion guide. We keep encrypted backups for service continuity; a deleted account's data is purged from those backups within 90 days.
7. Warranties and Limitation of Liability
Wälo is provided "as is" and "as available." We do not guarantee the service will be error-free or uninterrupted, nor the absolute accuracy of calculations that depend on third-party data (banks, connection providers, exchange rates). To the extent permitted by law, our total liability for any claim is limited to the amount you paid for Wälo in the 12 months before the claim, or $100 USD if you paid nothing. We are not liable for indirect damages, lost profits, or data loss except where the law says otherwise.
8. Termination
You can stop using Wälo and delete your account at any time. We may suspend or close an account that breaches these Terms; for non-serious breaches we will notify you first and give you 14 days to fix it. In cases of fraud or abuse we may act without prior notice.
9. Governing Law and Disputes
These Terms are governed by the laws of Costa Rica, where the service provider operates. We try to resolve any disagreement first through direct negotiation — write to [email protected]; failing that, it is subject to the competent courts of Costa Rica. We do not impose mandatory arbitration clauses or class-action waivers from other jurisdictions.
10. Changes to These Terms and Contact
We may update these Terms. Material changes (pricing, dispute resolution, key obligations) are announced by email at least 30 days ahead; minor changes take effect immediately and are reflected by updating this page's date. For questions about these Terms, write to [email protected]; we respond within 5 business days.