What is the Lydia IBAN?
Lydia provides verified users with a free French IBAN (account number) to receive bank transfers.
You can view the IBAN and its settings in the app.
How can I activate and use my Lydia IBAN? 🏦
The Lydia IBAN is only available to Lydia users with a verified profile. You will find it in:
- The IBAN section of any Lydia account (can be reached from the "My money" tab of the app)
- The "IBANs and Beneficiaries" menu under "Lydia IBANs" in the "Profile" tab.
How do I save my IBAN?
You can copy/paste your IBAN and BIC (bank identifier code) or download it as a PDF file like standard bank account details.
Can I receive money on my Lydia IBAN? 📲
You can receive your salary on the Lydia IBAN.
You must be able to justify any refund arriving on your Lydia account through the Lydia IBAN.
This means that our transaction security department can request proof of funds if needed.
You cannot use the Lydia IBAN for this purpose.
According to French law, self-employed workers need to open a dedicated account for their activity that is separate from their personal bank account. Since Lydia is not a bank account, you cannot legally use it to receive payments for your services.
What are the bank transfer fees and processing time?
For more information on bank transfer fees, read this article.
To find out about the processing time of transfers using the Lydia IBAN, check out this article.
Can I set up direct debits?
You can set up a direct debit with your Lydia account. To do so, you just need to indicate your Lydia IBAN to the merchant and sign the corresponding direct debit mandate (provided by the merchant).
Your Lydia account will then be debited for each direct debit request received, provided that the balance is sufficient. If it's not, you will be notified and you will have 6 hours to top up your account before the second attempt. If the funds are still not available at that time, the payment will then be definitively refused.
Can I transfer money to my sub-accounts?
By default, any incoming transfer to your Lydia account will credit your main account.