Terms of Service

Last updated: February 11, 2026

1. Acceptance of Terms

By downloading, installing, or using the IOU mobile application ("the App"), you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use the App.

2. Description of Service

IOU is a bill-splitting application that allows users to:

• Scan receipts and automatically extract items and prices
• Create manual expenses for shared costs
• Assign items to specific users
• Calculate amounts owed between users
• Facilitate payment settlements through third-party services like Venmo

3. User Accounts

You must create an account to use IOU. You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Notifying us immediately of any unauthorized use

4. User Conduct

You agree not to:

• Use the App for any illegal or unauthorized purpose
• Upload malicious code or attempt to compromise the App's security
• Harass, abuse, or harm other users
• Create fake accounts or impersonate others
• Scrape or collect data from the App without permission

5. Receipt Scanning

Our receipt scanning feature uses optical character recognition (OCR) technology. While we strive for accuracy, we cannot guarantee that all scanned information will be correct. Users are responsible for verifying expense details before finalizing splits.

6. Third-Party Payment Services

IOU integrates with third-party payment services like Venmo to facilitate settlements. We are not responsible for:

• The processing, completion, or failure of payments
• Disputes between users regarding payments
• Third-party service fees or terms

All payments are subject to the terms and conditions of the respective payment service (i.e. Venmo).

7. User Content

You retain ownership of all content you upload to IOU, including receipt images and expense details. By using the App, you grant us a license to process, store, and display this content to provide our services.

8. Intellectual Property

The IOU app, including its design, features, and content, is protected by copyright and other intellectual property laws. You may not copy, modify, distribute, or reverse engineer any part of the App without our permission.

9. Disclaimer of Warranties

IOU is provided "as is" without warranties of any kind. We do not guarantee that:

• The App will be error-free or uninterrupted
• Receipt scanning will be 100% accurate

10. Limitation of Liability

To the maximum extent permitted by law, IOU and its developers shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of the App, including disputes between users regarding payments or expense splits.

11. Termination

We reserve the right to suspend or terminate your account if you violate these Terms of Service.

12. Changes to Terms

We may modify these Terms of Service at any time. We will notify you of significant changes through the App or via email. Continued use of the App after changes constitutes acceptance of the new terms.

13. Governing Law

These Terms are governed by the laws of the United States. Any disputes shall be resolved in the appropriate courts.

14. Contact Information

For questions about these Terms of Service, please contact us at support@tryiou.com

15. Entire Agreement

These Terms of Service, together with our Privacy Policy, constitute the entire agreement between you and IOU regarding the use of the App.