Oval automatically tracks your spending by linking your bank accounts and credit cards.
Oval tracks spending using the magic of machine learning. As you make purchases, Oval will intelligently apply one of its smart categories based on what was purchased and especially on why you purchased it.
If you want more detail about your spending habits, Oval allows you to create custom tags for each expense. These tags are searchable making it possible to quickly find out exactly how much you are spending on certain items.
Understand what makes for better saving
With this information, you will be able to make better spending decisions, using the data and lessons from your fellow Ovalers.
Using Oval is about constant learning.
We securely and anonymously analyze the spending and savings data from our community of users to better understand what makes for better saving.
Our personal finance experts are constantly on the hunt for tips and tricks to make saving easier.
These are shared in-app through notifications, and are explained in greater detail in our blog posts.
We also invite our community of Ovalers to share methods that have worked for them.
Program automatic savings deposits
Oval allows you to program automatic savings deposits to a personal and secure digital savings account.
The steps system has been designed based on newest research from financial experts and behavioural economists.
There are three types of steps that can be programmed:
Round-Up: Rounds-up the price of your purchase and puts the difference in your digital wallet, making it possible to look after pennies so the pounds can look after themselves, as your grandmother used to say.
Percentage: Takes a fixed percentage of what you spent on selected purchases and saves it in your digital wallet.
Fixed Amount: Takes a fixed amount that you set and saves it in your digital wallet for the purchases you choose.
Understand what makes for better saving
Your savings account will collect the money saved through your programmed steps, empowering you with a growing balance that can be withdrawn at any time.
Once you have accumulated some savings in your digital wallet, it might be time to consider moving that money into a savings product that can help your savings grow.
Our personal finance experts review the best available savings options and write about them on our blog, where you can get helpful tips on how to make your savings grow from big to bigger.
What our community says about us
We believe in building a community of Ovalers that can inspire others with financial advice through their personal experiences.
"I’m a tech girl and I use a lot of Apps, but Oval Money is special because it helps me save money on a daily basis."
“As all students, I never spent much time thinking about savings… but finally I have Oval Money to think about it for me!!”
“Oval Money has been a great way for me to start saving. I’m not a techie and find finance sometimes complex, but that doesn’t matter. It’s really clear and easy to use!”
For the purposes of these Terms, the Owner is Oval Money LTD (“Oval”, the “App” or “us”).
Oval Money LTD’s offices are based at 27 Shorrolds Road, London, SW6 7TR United Kingdom.
By using the service offered by Oval you confirm that you accept these Terms and Conditions (or ‘Terms’) and that you agree to be bound by them in your use of the service. If you do not agree to these Terms, please do not use the service.
Oval’s App service enables the Users to better manage their finances through savings and investment options on the basis of a defined set of instructions, specifically set by the Users themselves.
The App links to Users’ personal accounts, credit cards and mobile payment solutions (the ‘Source Accounts’), through bank-level secure technology, to track spending patterns and to automatically transfer funds to a personal electronic money wallet.
Oval’s goal is to educate Users to save through micro-transactions. Oval will also automatically take the spare change out of the linked account on every transaction and store it in a secure and guaranteed personal savings account.
Use of the Service and Registration
To use the App, you must be at least 18 (eighteen) years old and register an account with us providing accurate, correct and up to date information.
Upon registration, or during the later use of the App, the User is required to provide the following:
Mobile Phone Number;
Date of Birth;
Country of Residence and Address;
IBAN and BIC/Swift;
Copies of Personal Identification Documents (such as your Passport, ID, Driver License).
Bank Account and Financial Details are collected through and stored by a secure third party account aggregation service provided by Yodlee, Inc. in order to allow Users to link their bank accounts to the App for the purposes of the service.
Direct Debit Mandate. After completing registration or at a later time, the User will receive notice within the App requiring to mandate a Direct Debit; to do so, the User will have to complete the provided Mandate form with your Bank details. The Single European Payment Area (’SEPA’) Direct Debit Mandate (’the Mandate’) allows the periodical automatic transfer of funds from your Source Account to your e-wallet for the purposes of the service. GC re Mangopay and Oval Money Ltd will be the names that appear as Creditor Reference Parties on your Bank statement. By signing the provided Mandate form, you thereby authorize:
GC re Mangopay to send instructions to your Bank to debit your Source account, and
Your Bank to debit your Source Account in accordance with the instruction from GC re Mangopay.
The Mandate reference number will be available to you after confirmation. You will always receive notice before being charged, via email, three days before each transfer occurs.
Third Party Services
In providing the service, Oval relies upon a number of third party service Providers (the ‘Providers’). By using the service, you agree that we acquire and share information about you with those Providers. You agree to abide by the terms and conditions of those Providers and that Oval will not be held liable for their actions or omissions. The Providers we use and their terms of service may vary from time to time and you can obtain a full and up to date list of Providers by emailing your request at email@example.com
Yodlee. Yodlee is an account aggregation service that allows the User to Monitor his/her credit card, bank accounts and investments. To use the App you shall link your bank account(s) to the App by using Yodlee’s platform service. Yodlee will allow you to connect with your bank account(s) using your online login credentials and will store your financial details through a bank-level security system. Oval will never receive nor store User’s personal online login credentials and will receive from Yodlee only the information required to provide the service. By creating an Oval account you acknowledge and agree that you have at all times a direct contractual relationship with Yodlee in regards to the management and storage of your own online banking login credentials and financial details.
Mangopay. Mangopay issues e-money and is licensed in Luxembourg by the Financial Sector Supervisory Commission (as defined by Directive 2009/110/EC ‘E-Money Directive’). Mangopay’s Application Programming Interface (‘API’) allows the management and distribution of e-money directly to the User. By creating a Mangopay account, you acknowledge and agree to be bound by Mangopay’s Terms and Conditions and that you have at all times a direct contractual relationship with the e-wallet Provider in regards to the e-wallet account. Oval allows the User to purchase e-money from the e-wallet Provider, using funds deposited in your personal Source Accounts. The funds deposited with the e-wallet Provider are maintained in accordance with the above mentioned E-Money Directive and legislation
regarding the combating of money laundering and the financing of terrorism. The funds deposited in your e-wallet are full-fledged segregated funds from Mangopay’s own funds and they will continue to be available at all times via the e-wallet Provider.
Content provided by Third Parties
Oval is not responsible or liable for any content or links provided by Third Parties shown therein, as well as for their availability.
Deleting your account and account termination
Registered Users may cancel their accounts and stop using the service at any time, through the App interface or by directly contacting us.
Oval reserves the right to suspend or terminate the service at any time, even without notice, in case of breach of these Terms through your use of the service.
You agree to indemnify and hold Oval and its subsidiaries, affiliates, officers, directors, agents, co-branders, partners and employees, as the case may be, harmless from any claim or demand, including reasonable attorneys’ fees, made by any Third Party due to or arising out of your content, use of or connection to the service, violation of these Terms, or violation of any Third Party rights.
Users may not:
Reverse engineer, decompile, disassemble, modify or create derivative works based on the App or any portion of it;
Circumvent any technology used by the App or its licensors to protect content accessible via it;
Copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided through the App; use any robot, spider, site search/retrieval application, or other automated device, process or means to access, retrieve, scrape, or index any portion of the App or its content;
Rent, lease or sublicense the App;
Use the App in any other improper way that violates these Terms.
Copyright and Intellectual Property
All trademarks, trade names, service marks, word marks, illustrations, images, logos that appear in the App or concerning Oval are, and remain, the exclusive property of Oval or its licensors and are protected by the laws in force.
Changes to these Terms
Oval reserves the right to modify these Terms at any time and will inform the Users of such changes by publishing a notice within the App.
Users who continue to use the App after the publication of such changes, thereby accept the new Terms in their entirety.
Limitation of Liabilities
Oval shall not be held liable for any loss suffered by the User unless such loss arises from our negligence, breach of Terms, willful default or fraud or from our failure to comply with applicable laws.
Oval will not be held liable for any loss incurred by the User arising, wholly or partly, as a result of an event which is beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid in relation to your Oval account.
The User expressly releases and exempts Oval from any liability relating to possible damages or claims of any kind, against Oval or Third Parties, arising from improper use of the service or caused by failure to comply with the law by the User.
Governing Law and Jurisdiction
These Terms and any dispute concerning the implementation, interpretation and validity of this agreement are subject to UK law.
The parties agree to carry out any dispute, within the limits of the applicable law, under the jurisdiction of UK Courts.
2. Data Controller (or Owner)
2.2. We are also registered with the Information Commissioner under registration number: ZA219393.
3.1. Amazon Web Services (AWS). AWS is appointed Data Processor by Oval. AWS provides the processing service of the Data collected
through the use of the App in accordance with Oval’s processing instructions. The processing of Data is carried out in respect of
AWS Security Standards at all times. The information collected by AWS may be transferred to, or stored at, a location outside the European Economic
Area (‘EEA’). To this end, AWS has enacted Model Clauses that allow the transfer of Data outside the EEA in compliance with European Data Protection
law (Directive 95/46/CE). By providing us with your Personal Data, you agree to this and processing of your Data. Additionally, the Data may be
accessible to certain types of persons in charge, involved with the operation of the site (administration, sales, marketing, legal, system administration)
or external parties (such as third party technical service providers, mail carriers, hosting providers, IT companies, communications agencies).
The updated list of these parties may be requested from the Data Controller at any time
4. Personal Data you give us
4.1. Oval collects, by itself or through Third Parties, Personal Data that includes: Full Name; Email;
Mobile Phone number; Date of Birth; Country of Residence and Address; Nationality; Bank Account; copies of Personal
Identification Documents (such as your Passport, ID, Driver License). The primary goals in collecting information are to provide and
improve our Service, to administer your use of the Service and to enable you to enjoy it.
4.3 Failure to provide Personal Data may make it impossible for the App to provide its Service.
5. Information we collect from other sources
5.1. When you use our App we may receive or collect your IP address, URL, Browser information, operating system and
platform as well as your login information. We may collect and store information about your location by converting your IP
address into a rough geolocation or by accessing your mobile device’s GPS coordinates or coarse location if you enable location
services on your device. This information may be used to improve and personalize our service.
6. Bank Account and Financial Details.
6.1. The Service requires the processing of your financial details and data of your bank accounts.
To ensure the maximum level of protection of your Data, Oval collaborates with the following service providers that store and process User’s Data:
6.2. Salt Edge Inc. is an account aggregation service that allows the User to Monitor his/her credit card, bank accounts
and investments. Oval has sign up for the Bank Integration Program offered by Salt Edge Inc. and to use the App you shall link
your bank account(s) to the App by using Salt Edge’s platform service. Salt Edge will allow you to connect with your bank
account(s) using your online login credentials and will store your financial details through a bank-level security system.
Oval will never receive nor store User’s personal online login credentials, except for your Bank Account numerb,
and will receive from Salt Edge only the information required to provide the service.
Collected Dataz: Full name, Email, Mobile Phone Number, Date of Birth,
6.3.Mangopay. Mangopay is the Application Programming Interface (‘API’) provided by Mangopay SA to issue and manage
the distribution of e-money (as defined by Directive 2009/110/EC ‘E-Money Directive’) directly to the User. Through Mangopay’s
service, Oval, as an e-money distributor, offers a payment solution for all transactions made by Users within the App.
The payment solution is based on the e-money issued by Mangopay upon the demand and for the accounts of Users. The e-money
is stored in a Mangopay’s electronic wallet (‘e-wallet’) specifically opened by the User. Mangopay is an autonomous
Data Controller as to the service it provides and by opening a Mangopay
account Users agree to be bound by Mangopay’s Terms and Conditions
Collected Data: Full name, Email, Mobile Phone Number, Date of Birth, Nationality,
Email and Contact Management. These services allow the managing of email contacts and other contacts used to communicate with the User. The services may also allow the collection of Data concerning the date and time of display of the message by the User.
Mailchimp, Inc. Mailchimp is an email management and storage service provided by Mailchimp Inc. Data collected: Email.
Newsletter By registering to the newsletter service, the User’s email address is inserted in a mailing list.
They will receive emails containing information, also of commercial and promotional nature, regarding Oval. Data collected: Email and Name.
This type of services allows User Data to be utilized for advertising communication purposes displayed in the
form of banners and other advertisements on this Application, possibly based on User interests.
AdWords. AdWords is a remarketing and behavioral targeting tool to advertise across websites provided by Google,
Facebook Conversion. Facebook Conversion is a tracking tool for ads on the social network
8.1.1 Oval processes Users’ Personal Data in a proper manner and shall adopt appropriate security
measures to prevent unauthorized access, disclosure, modification, or unauthorized destruction of the Data.
Even where all precautions are adopted we cannot guarantee complete security in all events.
8.1.2. The Data processing is carried out using computers and/or IT enabled tools,
following organizational procedures and modes strictly related to the purposes indicated.
8.2. Place of processing
8.2.1. The Data is processed at the Data Controller's operating offices and where the Data
Processor’s operating offices or other parties involved with the processing are located.
8.3. Retention time
8.3.2. The User may always request that the Data Controller suspend or remove the Data.
9. Data Transfer
9.1. The User consents to the transfer, selling or dissemination of the collected Data through the Service in
the event of rearrangement, merger, sale, joint venture, transfer or any other
arrangement method of the whole or part of the Company, of its goods and shares.
10. Legal Action
10.1. Your Personal Data may be used for legal purposes by the Data Controller, in Court or in the stages leading to possible legal action
arising from improper use of this App or related services
10.2. You acknowledge to be aware that the Data Controller may be required to reveal personal data upon request of public authorities.
11. Rights of Users
11.1. You have the right, at any time, to know whether your Personal Data has been stored and may consult the Data
Controller to learn about their contents and origin, to verify their accuracy or to ask for
them to be supplemented, cancelled, updated or corrected, or for their transformation into
anonymous format or to block any Data held in violation of the law, as well as to oppose their treatment
for any and all legitimate reasons. Requests should be sent to the Data Controller at: firstname.lastname@example.org
It is recommended, therefore, to check this page often and refer to the latest update date at the bottom of the page. If a
User objects to all or any of the changes to the Policy, the User must cease using the App and may request that the Data
Personal Data possessed by the Data Controller at the time
13.1. Oval (or the App)
13.1.1.The hardware or software tool by which the Personal Data of the User is collected.
13.2. Personal Data (or Data)
13.2.1. Any information regarding a natural person, which is, or may be, identified or identifiable,
even indirectly, by reference to any other information, including a personal identification number.
13.3. Usage Data
13.3.1. Information collected automatically from this App (or Third Party services employed in this App),
which may include: IP addresses or domain names of the computers used by the Users, URI addresses (Uniform Resource Identifier),
time of the request, method of request submission to the server, size of the file received in response, numerical code indicating
the status of the server's answer (successful outcome, error, etc.), Country of origin, features of the browser and the operating
system utilized by the User, various time details per visit (e.g., time spent on each page within the App) and details about
the process followed within the App, specifically the visited pages sequence and other parameters about the
device operating system and/or the User's IT environment.
13.4. Data Controller (or Owner)
13.4.1 The natural person, legal person, public administration or any other body,
association or organization, also jointly with another Data Controller, having the right to
make decisions regarding the purposes and the methods of processing of Personal Data and the means used, including
the security measures concerning the operation and use of this App. The Data Controller, unless otherwise specified, is the Owner of this App.
13.5.1. The individual using this App, which must coincide with or be authorized by the Data Subject, to whom the Personal Data refer.
13.6. Data Processor
13.6.1. The natural person, legal person, public administration or any other body,