FAQ
Questions people ask us.
Is this financial advice?
No. Open Balance runs the numbers you enter through simple, mechanical maths, nothing personalised, no recommendations, and no financial insight of any kind. We've assessed the product as outside FCA-regulated activity, and that position has been confirmed by independent legal advice.
Can Open Balance read my financial data?
No. Your accounts, balances, income, payments, debts, notes, and scenarios are encrypted on your device before they reach us, and we cannot read them. A smaller set of account data, your email, billing status, and security metadata, is handled differently because an account needs somewhere to send a receipt or reset a login, see our Privacy notice for the exact split.
What happens if I lose my password and my recovery code?
Your data becomes permanently unrecoverable, by us or anyone else. That's a direct consequence of us not being able to read it: there's no back door and no override. Keep your recovery code somewhere safe.
Is there a mobile app?
Not in this version. Open Balance is a web app you use in your browser.
Does Open Balance link to my bank?
No, and it won't. There's no bank connection, open banking link, or account aggregation. Every figure comes from what you enter yourself.
What happens when I delete my account?
Your encryption keys are destroyed straight away, so your data becomes unreadable immediately. The full technical detail, including exactly how long full removal takes, is in our Privacy notice.
Is there a free trial?
No free tier and no trial. If you've been referred by a debt charity or financial advice organisation, see the charity section on our homepage for how bill-credit vouchers work instead.
Can my partner or family share one account?
No. We're not a bank, so there's no joint account, every Open Balance account is single-user.
How do I ask for my data to be deleted, exported, or corrected?
Email gdpr@sectorprocessing.com. That covers access, correction, deletion, portability, restriction, and objection requests. You can also raise a concern with the UK Information Commissioner's Office at any time. See Privacy for the full notice.
Where can I read the full terms of service?
The Terms of Service page covers the full agreement: your account obligations, acceptable use, payment and billing, our liability, how termination works, and governing law. The terms will take effect when the product launches and we'll email you before any material change.
I found a security issue. Where do I report it?
Email security@openbalance.co.uk. We aim to acknowledge reports within 72 hours. Good-faith security researchers reporting through that address are exempt from the probing restriction in our Terms of Service. See our Security page for the wider picture.