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Last updated: 29 May 2026
Policy version: 1.0-2026-05-29
Welcome to Monetraxapp ("we," "our," or "us"). We are committed to protecting your privacy and ensuring the security of your personal and financial information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our financial management platform.
By using Monetraxapp, you agree to the collection and use of information in accordance with this policy. If you do not agree with our policies and practices, please do not use our services.
We use the information we collect to:
We may share your information with:
Third-party companies that help us provide our services, including payment processors (Stripe), bank integration providers (Mono), email services, and cloud hosting providers.
When required by law or to comply with tax regulations, we may share information with relevant tax authorities in your jurisdiction, including but not limited to: HMRC (United Kingdom), IRS (United States), FIRS (Nigeria), and other applicable regulatory bodies.
In the event of a merger, acquisition, or sale of assets, your information may be transferred as part of that transaction.
We do NOT sell your personal information to third parties for marketing purposes.
Monetraxapp offers an optional in-app AI Assistant and optional AI-powered transaction auto-categorisation. Both features send a strictly limited slice of your data to a third-party AI provider (OpenAI, gpt-4o family) for the sole purpose of generating a response. We require your explicit consent before any AI request leaves the app and you can withdraw consent at any time.
/dashboard) We use OpenAI under an enterprise key with data-not-used-for-training=true. OpenAI does not retain your prompts beyond what is needed to compute the response and does not train its models on them. We retain your AI chat history in our own database for 90 days for your own reference; you can delete individual conversations any time from the AI Assistant.
Current policy version: 1.0-2026-05-29 · Sole AI provider currently: OpenAI · Server-side enforcement: an AI request without active consent returns HTTP 403 AI_CONSENT_REQUIRED and is never forwarded to the provider.
We implement appropriate technical and organisational measures to protect your information:
While we strive to protect your information using industry-standard measures, no method of transmission over the Internet is 100% secure. We cannot guarantee absolute security.
MONETRAXAPP maintains a formal Data Retention and Disposal Policy that is reviewed semi-annually and complies with all applicable data privacy laws. Our retention periods are determined by the most stringent applicable regulation across all jurisdictions where we operate.
| Data Category | Retention Period | Legal Basis |
|---|---|---|
| Account credentials and profile | Duration of account + 30 days | Service provision |
| Financial records and transactions | 7 years from date of record | HMRC / IRS / FIRS regulations |
| Tax filings and returns | 7 years from end of tax year | Tax regulatory compliance |
| Invoices and business documents | 7 years from date of issue | VAT / tax compliance |
| Security and authentication logs | 12 months | Security monitoring |
| Session tokens and OTP codes | Auto-expired (minutes to hours) | Service provision |
When data reaches the end of its retention period or upon a valid deletion request, we apply disposal methods appropriate to the data classification:
When you request account deletion, the following process is completed within 30 days:
Regulatory note: Financial records required by HMRC, IRS, FIRS, or other tax authorities for the mandatory retention period (up to 7 years) are anonymised rather than deleted, in compliance with applicable tax regulations.
Under the UK General Data Protection Regulation, we process your data on the following lawful bases:
| Processing Activity | Lawful Basis | GDPR Article |
|---|---|---|
| Account creation & service delivery | Contractual necessity | Art. 6(1)(b) |
| Tax reporting to HMRC | Legal obligation | Art. 6(1)(c) |
| Financial record keeping | Legal obligation | Art. 6(1)(c) |
| Fraud prevention (HMRC headers) | Legal obligation | Art. 6(1)(c) |
| Service improvement & analytics | Legitimate interest | Art. 6(1)(f) |
| Security monitoring & audit | Legitimate interest | Art. 6(1)(f) |
| Marketing communications | Consent | Art. 6(1)(a) |
Under the UK GDPR, you have the following rights. You can exercise these directly within the app or by contacting us:
GET /api/gdpr/data-exportPUT /api/gdpr/data-correctionPOST /api/gdpr/delete-accountTo exercise these rights, contact us at admin@monetraxapp.com or dpo@monetraxapp.com. We will respond within 30 days.
You also have the right to lodge a complaint with the Information Commissioner's Office (ICO): ico.org.uk
We use cookies and similar technologies to enhance your experience, analyze usage, and remember your preferences. You can control cookie settings through your browser. Disabling cookies may affect some features of our service.
Our service may contain links to third-party websites or services. We are not responsible for the privacy practices of these external sites. We encourage you to review their privacy policies.
Monetraxapp is not intended for use by individuals under 18 years of age. We do not knowingly collect personal information from children. If you believe we have collected information from a child, please contact us immediately.
We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new policy on this page and updating the "Last updated" date. Your continued use of the service after changes constitutes acceptance of the updated policy.
MONETRAXAPP maintains a comprehensive governance framework to ensure ongoing compliance with data protection obligations:
Our data protection framework is supported by the following policies, which are reviewed semi-annually:
If you have questions about this Privacy Policy or our data practices, please contact us:
Monetraxapp is committed to complying with data protection laws in all jurisdictions where we operate. This includes:
We are committed to protecting your data in accordance with applicable local laws and international best practices. Data transfers between jurisdictions are conducted in compliance with relevant data protection frameworks.
You have the right to request the deletion of your account and all associated data. Once processed, this action is permanent and cannot be undone.
To request deletion of your data:
© 2026 Monetraxapp. All rights reserved.
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