About Lydia shared accounts

Updated 3 weeks ago by Clifford Christophe

GIF shared account

Lydia lets you create shared accounts to make and manage common expenses easily, from your mobile.

It takes a whole lot of 10 seconds to create a shared account. It can be entirely managed on mobile device. The money on it can be spent using one of the many Lydia payment methods. All participants (be it for a couple or an entire fraternity) can each have:

  • a physical card to withdraw money from an ATM
  • a virtual card to pay in stores with contactless mobile payment
  • several Internet cards for joint subscriptions (Netflix, Spotify...)

All the things you can do with a shared account

The Duo account, the joint account to be shared by two 🥰

For a couple, you and your significant other can top it up at the start of the month, then pay the bills and the groceries along the way using the shared account's money. Thanks to a dedicated IBAN, they can even receive their salary directly on it.

The Group account, for vacations with several people 😎

What a convenient solution to be using for trips away with friends! A single account can now be used for all your common expenses (ticket booking, Airbnb, nights out, car rental, etc). No matter how many people you're travelling with. You won't have to reimburse 5 people anymore. It also works for roommates, for example.

Creating a shared account 🤗

It only takes ten seconds to create a shared account. You just need to:

  1. Go to the "My Money" tab (1st tab of the app), click on "+" then select "Duo Account" for an account to be shared by two people or "Group" for an account intended for roommates or vacations;
  2. Type a name for the account ("Couple", "Flatshare", "Holidays")
  3. Invite the people you want to share the account with (if they don't appear in the list, type in their phone number or their email address — they will receive an invite)
  4. Define the rights of every member (check out the description below to know more)
  5. Optional — Customise your shared account (why not adding a pretty cover picture ?)

That's it, your shared account is up and running! It will be accessible at any time from the account carousel at the top of the first tab.

Topping up and spending the money 💸

It only takes a few seconds to top it up.

After making a transaction, users who are members of the account can add a description to it. The user simply clicks on the transaction in the transaction history and then clicks on "Add a note". After saving the change, it will be visible to all group members, making it even easier to share expenses.

NB: when paying online with a Shared account, you'll have to enter the Internet card holder's name into the merchant's online payment form. If you created the Internet card to debit the Shared account, you'll have to type-in your name.

👉 To experience the very best of Lydia shared accounts, upgrade to Lydia Blue or Lydia Black.

Managing participants' rights 💁‍♀️

When inviting people to your shared account, you can choose to give participants the following rights:

  • View the shared account's balance
  • Check out it Transactions' History
  • Spend the money stored in it
  • Manage participants: they will be able to add or delete participants

You will be able to modify those rights at any time.

Terms and Conditions

Only the shared account's owner can delete the account. He is also the only legal owner of the money that is stored in it.

By granting any of these rights to another user, the account holder accepts the risks associated with the use of his or her account, as explained in the Terms.

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