Presentation of Lydia envelopes

Lydia lets you create several accounts to organise spending and save a bit of money, right from the app.

When should you create an envelope?

If you want to save money, there is nothing more important than having a clear view of what you're spending. Unfortunately, banks only let you have one current account — all of your expenses are merged in one single place. This creates useless confusion.

To help you out, we created envelopes !

Through the app, you can for example create...

  • A "Shopping" envelope to define a clothes' limit for a month
  • A "Leisure" envelope to define a budget for this activity
  • A "Trip" envelope to start saving for a future travel

Creating one or multiple envelopes

There is nothing simpler than creating an envelope. First, open the Lydia app, then:

  1. Go to the "Account" tab
  2. Open the "Accounts & money pots" section ;
  3. Click on the "+" button ;
  4. Create an "Envelope".

That's it! You can start crediting the account or sharing it with friends.

👉 With Lydia+, Lydia Green+ and Lydia Black+ it is possible to create envelopes for budgeting efficiently. For further information, read this article.

Manage an envelope with several people

An envelope can be managed by one or several persons.

When there's more than one member, the user needs to define his rights:

  • See the balance
  • See the transactions
  • Spend the money
  • Manage group members

Topping up the envelope by bank transfer

Any envelope can get a dedicated Lydia IBAN on which the customer can add money by bank transfer. Click here to get more details on Lydia IBAN.

Putting money in your envelope from a money pot

When an envelope exists, you can activate a web page automatically linked to it. Thus, this piggy bank will have a dedicated URL which can be shared to anyone in order to credit it. From the online page anyone can contribute to the money pot thanks to the payment form.

Contributions made with credit cards from the online page is subject to a 2,5% commission on the amount sent by the contributor (0,10 € minimum.) Consult pricing and limits of Lydia's services.

Using the money from an envelope

To know more, read this article

Managing display settings

Read : Managing your accounts

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