French startup Lydia now lets you share your Lydia sub-accounts with other people. The company wants to make it easier to manage money when you’re traveling with friends, sharing an apartment with someone and more.
When Lydia introduced its premium offering back in March 2018, the company completely rethought the way Lydia accounts worked. Users had a single Lydia account and were basically limited to sending, receiving and withdrawing money — it was all about peer-to-peer payments. Now, you can create as many Lydia accounts as you want, move money around, set money aside and top up each account separately.
That was just the first step as you can now share those accounts with other people. This way, you don’t have to create a Splitwise group and track who owes what to whom. Instead of getting your money back after a while, people chip in and top up the shared account directly. Anybody can then safely spend that money.
As always, Lydia is all about getting money in the app and out of the app as seamlessly as possible. When you create a shared account, each user can top up the account using other Lydia sub-accounts, a traditional bank account that you have already connected to the app or a debit card if it’s a small amount.