About Lydia money pots
Any Lydia user can collect money from their mobile using the "money pots" feature. This service is free of charge with Premium.
Why should I create a money pot with Lydia? 🤔
A money pot is a helpful tool that lets users collect money from several people easily. Users create money pots so that they can buy a big, nice and special gift for a friend's birthday or for a collegue's farewell party. Most of the time, this is done from a computer or from a laptop.
Lydia created the first money pot that fits in users' pockets: a 100% mobile moneypot. With Lydia app, users can actually...
- Open a money pot in less than 10 seconds using their smartphone.
- Invite as many participants as they want.
- Track contributions in real time thanks to instant mobile notifications.
- Buy presents online or in-store with the money collected thanks to Lydia's payment methods.
Here are the steps to creating and managing a Lydia money pot...
1 / Creating a money pot 🎁
Creating a Lydia money pot doesn't take any longer than 10 seconds. From the 3rd tab of the app, users can...
- Click on the "+" icon and on "Create a money pot".
- Type-in the chosen name of the money pot.
- Add a cover photo for the money pot.
A web page hosting the money pot will automatically be created. Every contribution to the money pot will go through this page.
2 / Sharing a money pot 📤
Users can then invite several members to contribute to the money pot. This can be done in two different ways:
From the money pot's web page
Users just need to...
- Copy the link at the bottom of the page and send it to their contacts (via text or messages on social platforms).
- Click on the Facebook or Twitter logos to directly share their money pot onto their social walls.
From the Lydia app
- By going to the money pot's account from the 3rd tab of the app.
- By clicking on "Web page" and on "Share my page".
- By choosing the right channel to share the money pot and the desired recipients.
3 / Tracking contributions 📱
Users can follow contributions to their money pot in real time. Top contributors are also ranked. The "Top contributors" chart can be accessed by simply...
- Going to the money pot's account from the 3rd tab of the app.
- Clicking on "Top contributors" at the bottom of the page.
4 / Buying gifts with the money collected 💳
A Lydia money pot can also be used to buy the gifts directly...
- In-store, thanks to contactless mobile payment or to the Lydia card
- Online, thanks to Internet Cards.
- Or by cashing it all out at the ATM using the Lydia card.
It is also possible to convert all or part of the amount collected into gift cards. Those gift cards can be spent in-store or online with more than a hundred brands.
For every gift card created, we'll credit the gift card with extra money (up to €10) to buy a nicer gift!
5 / Invite other admins to the money pot 💪
Several people can actually manage the money pot. When named as an admin, users can invite new members, track contributions in real time and (if allowed), buy gifts with the money collected. To name a new admin, users simply need to...
- Go to the money pot's account from the 3rd tab of the app
- Click on "Invite members"
- Tick the rights this new member will have ("withdraw money", "track contributions", etc)
- Click on "OK" to send the invite.
6 / Send money to a Lydia money pot 💸
There are two ways to send money to a Lydia money pot:
- If users received a link to a web page hosting the money pot, they can:
- Fill in all the required information (contribution amount, name, phone number)
- Choose to pay with Lydia or using a credit card
- If users chose to pay with Lydia - Go to the 2nd tab of the app to accept the payment request from the money pot's account.
- If users have been invited as "members" of a money pot, they can:
- Go to the money pot's account, from the 3rd tab of the app
- Click on "Top up the account"
- Enter an amount and a label for the contribution
- The contribution will instantly be credited to the money pot's account.
Cost of a Lydia money pot 👍
Every contribution to a money pot is 100% free of charge.
However, a commission fee accounting for 1.9% of the amount collected will be charged when cashing out (when paying in-store, online or when transferring the money collected to another account). This is in average twice cheaper than other money pot services' commission fees.
With Premium, users can use the Lydia money pot service for free - there is absolutely no commission.