Zakgeld Privacy Policy

Last updated: December 4, 2025

Introduction

At Zakgeld (referred to as “We,” “Us,” or “Our”), we value your integrity and the trust you place in us to help your family learn about money management. This policy describes how we process your data in a fair, clear, and secure way.

Unlike banking apps, Zakgeld operates entirely on fictive currency. No real money is held, transferred, or processed within the app.

This notice tells you what information we collect, why we do it, how long we keep it, and what rights you have as a user. To use Zakgeld, a Parent/Guardian must set up the account and accept our Terms and Conditions on behalf of their children.

About Us

SmartID Technologies B.V. (Organisation Number: 74371908), located in Amsterdam, The Netherlands, is the data controller responsible for the processing of your information.

The Family Account Structure

Our service is designed around a "Family" unit. Currently, a family shares one login (Authentication account). Within the app, individual profiles for Parents and Children are secured via a user selection screen and a 4 or 6-digit PIN.

Parents: Have administrative control and can view all family data.
Children: Can view their own specific savings jars and transactions.

Information We Collect

We have gathered different pieces of information under specific definitions to make this policy easier to understand.

Profile Information:
Parent email addresses (used for Authentication), family name, nicknames/names assigned to child profiles, birth years (optional, for age-appropriate settings), and profile avatars.

Virtual Ledger Information:
Information regarding the fictive money within the app. This includes:

Jars: Names of saving jars, target goals, and current balances.
Transactions: History of virtual money movement (e.g., allowances, manual adjustments, interest calculations).
Recurring Settings: Configurations for automated allowances or interest rates.

Device & Technical Information:
IP address, device ID, operating system, and crash logs.

Support Data:
Text you write to us in customer support emails or feedback forms.

Processing, Purposes, Legal Basis, and Storage

1. To Deliver the Service (The "Ledger")

To allow parents to manage virtual allowances and for children to track their savings, we process Profile Information and Virtual Ledger Information. All transaction data (such as adding allowance or calculating interest) is processed securely using cloud-based functions to ensure accuracy.

Legal Basis: Fulfillment of a contract.
Storage: We save this data as long as you use the app. We delete the data if the Family Account is deleted.

2. Account Security & Authentication

To ensure that only your family can access your data, and to prevent siblings from accessing parent profiles, we use Profile Information (Email) and internal PIN codes. We use a secure third-party provider (Google Firebase Authentication) to manage logins.

Legal Basis: Legitimate interest (Security).
Storage: Stored as long as the account is active.

3. Automated Calculations (Recurring Transactions)

We use automated systems (Cron jobs) to process recurring events, such as weekly allowances or interest calculations on savings jars. This requires processing your Virtual Ledger Information and Profile IDs.

Legal Basis: Fulfillment of a contract.
Storage: Transaction history is kept as long as the account is active to provide a history log for the family.

4. Service Improvement & Analytics

To improve the app, we may collect anonymous statistics about how the app is used (e.g., "How many families use the interest feature?"). We process Device Information and aggregated usage data.

Legal Basis: Legitimate interest.
Storage: Data is anonymized or deleted after 2 years.

5. Customer Support

If you contact us for help, we process your Profile Information and Support Data to resolve your issue.

Legal Basis: Legitimate interest.
Storage: Kept for the duration of the support case + 1 year.

Data Storage and Location

We are committed to data privacy. Your data is primarily stored and processed in The Netherlands (Europe) using Google Cloud Platform (Firestore and Cloud Functions).

By using the service, you acknowledge that while the data resides in the EU, the technical infrastructure provider (Google) is a US-based company, and we ensure standard contractual clauses are in place to protect your data.

Information Security

We use industry-standard security measures to protect your family's data.

Encryption: Data is encrypted in transit (HTTPS) and at rest.
Access Control: Internal PIN codes prevent unauthorized switching between user profiles within the app.
Atomic Transactions: We use advanced database technology (Atomic Writes) to ensure that your virtual ledger is always accurate and never corrupted during updates.

Children’s Data

We do not knowingly collect personal data directly from children without parental consent. The Zakgeld account is owned by the Parent. The Parent creates the Child profiles and inputs the Child's data (Name/Nickname). The Parent retains full control over the Child's data and can edit or delete it at any time.

Transfer to Third Parties

We do not sell your data. We only share data with essential infrastructure providers required to run the app:

Google Firebase (Netherlands/EU): Database, Cloud Functions, and Authentication hosting.
Google Analytics: For anonymized app usage statistics.

Your Rights

Under the GDPR, you have specific rights regarding your data:

Right to Access: You can request a copy of all data we hold about your family.
Right to Rectification: You can correct wrong information (e.g., change a nickname or email).
Right to Erasure ("Right to be forgotten"): You can delete your Family Account within the app, which will permanently delete all parents, children, jars, and transaction history from our servers.
Right to Restriction: You can ask us to limit how we use your data.
Right to Portability: You can ask for your data in a structured, machine-readable format.

To exercise these rights, please contact us at hello@smartidtechnologies.com.

Contact

If you have questions about this privacy policy, please contact us:

Email: hello@smartidtechnologies.com
Address: Leliegracht 32, 1015DG, Amsterdam, The Netherlands