Lydia money pots are associated with an online page where money can be collected. They are free to create and having the app is not required to contribute to a money pot.
Creating a money pot
Users can create a money pot by tapping the "⧉" icon at the top right-hand corner of the screen, then the "+" icon, and finally "Create a money pot" (or by tapping here from a mobile phone).
They will then be able to access their money pot list by swiping the main screen to the left. A panel will appear with all the money pots available in-app.
Settings
From the settings of the online page, the person who created a money pot can:
- Add a description
- Choose to display an IBAN linked to the money pot. This IBAN is dedicated to receiving instant or regular wire transfers (within 2 to 3 working days) and cannot be used to set up direct debits. The IBAN is activated when the money pot is created, and users can disable it.
- Choose to display the total amount collected (sum of the contributions).
- Choose to display the amount available (account balance).
Sharing a money pot
Contributions can be made through the money pot link (its URL). It must be shared with the people who wish to contribute by copy-pasting it from the money pot "Online page" screen.
It can also be done by tapping the "Share" button on the same screen.
Contributions without Lydia
Participants don't need to download Lydia or to create an account to contribute.
They can open the money pot link in a browser on a computer or a phone and pay via card or wire transfer.
Contributions with a Lydia account
If users have the app on their mobile phone
Tapping the money pot link will automatically open the Lydia app. Users can now tap the "Contribute" button.
Users choose the amount and the source of payment, and they can add a message and a picture to their contribution before confirming the transaction.
From the app, customers can pin the money pot to save it, follow its evolution, or contribute later.
From a web browser
Lydia users open the link in a web browser and click on "Contribute with Lydia". They then have to fill out the required information.
Thanks to this information, they receive a payment request in-app and can validate the transaction from Lydia.
Tracking contributions
Money pot owners can view all the contributions in the money pot history.
They can be immediately notified (via email and/or notification on their phone) for every new contribution.
In cases where commissions were applied, an overview of past fees is available in PDF format in the "Fee statements" tab under "Documents".
Contribution fees
Money pots are free for:
- Participants who use the Lydia app.
- Participants who contribute to the money pot IBAN via wire transfer.
- For participants making contributions with a bank card from an online page;
For money pots created using app version 13.21 and earlier versions, a 2.5% commission fee applies to contributions made using a bank card via the payment form.
Withdrawing the collected money
- Withdrawing the money to an external bank account via wire transfer: 4% fee
- Buying an Amazon gift card commission-free.
Closing a money pot
Once the money owner is down collecting the money and that the money pot balance is €0, they can directly archive the money pot from their app by tapping "Archive this account" at the bottom of the money pot at issue.
From that point on, the online page is no longer accessible and no further contributions can be made.