How does it work?
Welcome to Lucy!
Learn all about the many ways you can use it here.
How Lucy can help you manage your finances
If you are a small business owner, you’ll be delighted to know that Lucy offers fee-free accounts that you can use for your business purposes. You can open as many accounts as you need to make tracking and managing your income and expenses easier.
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- Sign up for an account with Lucy.
- Create additional accounts for your business needs. You can create one for your customers to pay you into, one for your business expenses (transportation, supplies, misc), and another for your staff’s expenses.
- You can order a Lucy Debit Mastercard for each account and choose the name you want printed on it.
- You can share your staff’s account as a Read-Only access with them. With this Read-Only access feature, they will be able to view the transactions made and how much funds are available. This makes tracking expenditure easier and saves you the trouble of dealing with expense claims from your staff.
- You can set a low balance notification so that you can deposit money into your staff account proactively.
How easy is that? That easy 🙂
The minimum age to sign up with Lucy is 18 years old. However, you can sign up with Lucy and create an account in your child’s name. They can have a card in their own name and also keep track of their spending on their own phone. To do this:
- Register yourself for Lucy.
- Create an additional account for your child.
- Ask your child which card design they want and order the card with their preferred name on it.
- You can share your child’s account as a Read-Only access with them. With this Read-Only access feature, they will be able to view the transactions made and how much of their allowance is left. This gives them the opportunity to keep track of their Mastercard expenses and learn how to manage their money.
- You can even set a low balance notification so that you can deposit money into your child’s account proactively.
- If you are giving your child a weekly or monthly allowance, you can set up a recurring transfer from your Lucy account to theirs. That way, Lucy helps you to remember when to give allowance to your child.
If you have a helper, you can setup a salary account to pay her salary through Lucy. You don’t need to remember to withdraw cash to pay her. She can also enjoy the convenience of having the salary directly deposited into her Lucy account and transferring money home directly.
To set up a salary account for your helper, you will need to add your helper as a Connection. Please refer to Creating and managing your accounts: adding a Lucy member as your Connection.
Once this is completed, follow these steps:
- Login to your Lucy profile and click the + on the homepage.
- Click [I want to pay my employee via Lucy].
- Click [Set it up].
- Click on your helper’s name from My Connections.
- Enter her monthly salary.
- Choose when to pay her.
- Click the Lucy account you wish to pay her from.
- Review the information and click [Confirm].
Rather than letting your helper use cash or your credit/debit card when making supermarket trips, why not give her a grocery card? To get her one, follow these steps:
- Register yourself for Lucy.
- Create an additional account.
- Order a Lucy Debit Mastercard and name it the way you prefer. You can have your helper’s name and Groceries as the account name
- Share the account read only with her
- You will both be able to view real time transactions via the Lucy app.
- You can set a low balance notification so that your helper will never run out of money when she’s running errands for the household.
Setting up your Lucy app
Signing up with Lucy is quick and easy - only a few minutes and you’ll be up and running. Click the image to watch a short video showing how to do it!
- Download the Lucy app from the Apple App Store or Google Playstore and click “Get Started” to create a Lucy profile
- Enter a Promo or Referral code if you have one. Otherwise, you can click “Continue” to skip to the next step.
- Enter your preferred name.
- Enter your email address.
- Enter your mobile number
- Choose and create your Lucy app PIN. You will need to remember this!
- Enter the Lucy app PIN again.
- Follow the prompt to continue to Identity Verification.
You can sign up with Lucy if you:
- Are at least 18 years old
- Are a resident of Singapore
- Own a compatible smartphone (iOS 9 or above for an iPhone, Android 7.0 or above for an Android device)
- Have a personal email address and mobile number
Once you have signed up and logged in to your Lucy profile, you'll have to verify your identity to make any transaction and set up any accounts. It's how we keep your money safe and comply with regulations. To do so:
- Enter the OTP sent to your email.
- Enter your personal information (which includes your name as stated in the ID document, date of birth and nationality).
- Enter your residential address
- Choose a Debit Mastercard design (the card is free!).
- Select your ID document. You may use your Identity card, Driver’s license or Passport.
- Select your ID card type and document number.
- You’ll then be asked to take a selfie, a front and back image of your ID document.
- Please wait for your documents to be uploaded and verified. We expect this to take less than 10 minutes and we'll send you a notification when your profile is successfully verified.
You'll be asked to take a selfie to complete the sign-up procedures. It is part of our verification process as an anti-corruption and fraud prevention measure.
When taking a selfie, it should meet these requirements:
- It should be recorded in a clear and well-lit space.
- The photo must match the photo ID document.
- Only show your face in the photo.
- Do not wear sunglasses or mask while taking the selfie.
- Look straight into the camera and keep a neutral expression.
- SG citizen
- SG PR
- Domestic Helper Work Permit
- Work Permit
- S Pass
- Employment Pass
- Long Term Visit Pass
- Dependant’s Pass
- Training Employment Pass
- Personalised Employment Pass
- Work Holiday Pass
- EntrePass
Please reach out to our Customer Support here or WhatsApp us, and we'll get right on it. We're here to help!
Creating and managing your accounts
Once you’ve completed identity verification, you’ll be automatically enabled with one main account and one Pocket Saver (see the section on Pocket Savers below). You can create as many additional fee-free accounts as you want. Each one has its own virtual bank account number and its own debit Mastercard, so use them for anything you like!
- Login to your Lucy app and click the + button on the homepage.
- Click [I want to open a new account].
- Click [Set it up] to create a new account.
- Name your account so you can organize your money the way you want.
Your account is now ready to use. You can order a card, and transfer or deposit money into your account as needed. If you wish to edit the name of your account, you can do so by clicking on the Settings icon on the top right corner of the screen.
Pocket Savers are the easiest way to save money regularly. You can create multiple Pocket Savers, which are similar to regular Lucy accounts except you can set a target balance to achieve for each one, making it easier and more effective to track your money-saving goals.
Once you've completed identity verification, you'll have one Pocket Saver automatically available, To create additional ones, follow the steps below:
- Login to your Lucy profile and click the + button on the main screen.
- Click [I want to open a new Pocket Saver]
- Click [Set it up]
- Name your Pocket Saver as whatever it is that you're saving for.
- Enter your saving goal for this account. You can edit the goals in Settings at any point in time. (Setting a goal will help you to achieve your target faster and more efficiently).
- Once your Pocket Saver is set up, you can now start to transfer or deposit into the account as needed. If you want to edit the name and savings goal, you can do so by selecting the Settings icon on the top right corner of the screen.
One of the (many) useful things you can do with Lucy is share any of your accounts with someone else. You can also choose the name you want printed on each of your Mastercard debit cards. A few ways you can use this:
- Create an account for each of your children, so you can both keep track of how they spend their allowance
- Create an account for your groceries, and give the card to your helper
- Create an account for each of your staff, so you can keep control of your business expenses
If you would like to share any of your accounts as a Read-Only account, you can do so by following these steps:
- Login to your Lucy app and select the account you wish to share.
- Click on Settings at the top right-hand gear. On this menu you can also change the name of the account and order a card (which can be in the name of the person you're sharing the account with).
- Click on [Share this account (read-only)]
- Click [Set it up] to send the activation code to the person you wish to share with
- The person upon receiving the code will then need to login to her Lucy app
- Click on the menu at the top left
- Click [Settings]
- Click [Activate Read Only Account]
- Enter the activation code that you shared with her in Step 5
Upon activating the Read Only account, the person will be able view to the transactions, check the balance and also make payment using PayNow.
While making a transfer to a local bank, you will be asked if you want to save the recipient as a connection. Click [Yes] and the bank account is now saved as a connection.
Please refer to the section: Pay & Transfer, Transferring money to a local bank on how to send money to a local bank.
Once you have saved the bank account details as a connection during this process, you will not need to re-enter the information for future transfers. You will also be able to set up recurring transfers.
We have made it easier for you to transfer money to another Lucy member - simply add them as your connection. Here’s how to do it:
- Login to your Lucy app and click the Menu button on the top left.
- Click [Connections].
- Click [Share my details] - this will show your Lucy Profile ID, and you can send it to the person you wish to be connected to.
- They then need to add you as a connection following these steps:
- Login to the Lucy app and click the Menu button on the top left.
- Click [Connections].
- Click [My Connections].
- Click the + button at the top right and enter the Lucy Profile ID you sent them.
- You can then view the request status in “Connections” and approve the request. Once you have done that, you can now send money to each other!
Never worry about running out of funds or facing a card decline situation because you forgot to deposit money into your Lucy app. Set a low balance notification and get notified before you run low of funds.
- Login to your Lucy profile and select the account you wish to set a low balance notification.
- Click the “Settings” gear icon at the top right hand of the screen.
- Click “Low Balance Notification”.
- Set the desired amount.
Lucy does not charge you for keeping your accounts open, even when they're not in use. However, if you would like to close any account, you can easily do so:
- Login to your Lucy app and click on the account you wish to close.
- Click on the Settings icon on the top right corner of the screen.
- Click [Close account].
Before you close your account, please ensure that any available balance in that account is transferred to an other active bank account.
You will not be able to close the two initial accounts that were created automatically when you first signed up. If you need to close these for some reason, log in to your Lucy app, select "Settings" from the side menu, click [Help & Support] and send us a message. We will get back to you by the next working day.
Receiving money
Currently, there are 2 ways to do so: Bank transfer or PayNow.
To receive money via Bank Transfer, follow the steps below:
- Login to your Lucy app, select the account or Pocket Saver you want to add money to, and select Receive.
- Select FAST Bank Transfer.
- You will see a DBS Virtual Account Number which you can copy-paste. Please note that all Lucy account balances are held at DBS, so to send to your Lucy account, you send to this Virtual Account Number at DBS.
- Send from your own bank account using your regular Internet Banking or share the account details with your friend or customer.
- Once the money is received, you will receive a notification.
To receive money via PayNow, follow the steps below:
- Login to your Lucy app, select the account or Pocket Saver you want to add money to and select Receive.
- Select PayNow.
- Enter the amount you want to receive.
- You will be directed to a PayNow QR Code. You can screenshot and save this to scan, or upload the screenshot via your Singapore bank, or share this screenshot with the person who is making a payment to you. Once you have scanned the payment, wait for the payment completion message from your Singapore bank. If you scan the QR code again, it may lead to a double deduction. Please re-scan only if the payment status of the previous QR scan fails.
Note: The QR code is single use only. Please repeat the steps and generate a new QR code for each transfer. - Once your transfer is received, you will receive a notification.
Each of your Lucy accounts has its own account number.
- Login to your Lucy app and select the account you want to receive money into.
- Click [Receive].
- Click [Fast bank transfer].
- The DBS virtual account number is your Lucy account number.
Please follow the steps below to save your Lucy account number as a beneficiary in the DBS/POSB app, and you can then make a transfer:
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- Login to your DBS/POSB app and click [Pay & Transfer].
- Click [Add Local Recipient]
- Click [Bank Account].
- Enter your name and Lucy account number. Select [DBS/POSB] from the bank list.
Now that your Lucy account number has been saved, you are ready to make a transfer to your Lucy account. Click on [Pay & Transfer], [All], [Local Recipients].
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- Click the Lucy account number that you had saved.
- Enter the amount to be transferred.
- Review the information and click [Transfer now].
Sending money from Singtel Dash to Lucy? Please follow the steps below to save your Lucy account number in the Singtel Dash app, and you can then make a transfer:
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- Login to your Singtel Dash app and click [Send Money]
- Click [Bank/Wallet Account].
- Click [Add New Recipient].
- Enter your name and Lucy account number. Select DBS Bank Ltd from the bank list.
- Click [Send Money Now].
- Enter the amount to be transferred and select the Purpose of transfer..
- Review the information and click [Next].
Yes you can! You will need to provide the following information to the overseas sender:
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- Your full name that was used to register with Lucy
- Your 16 digit Lucy account number
- Name of Beneficiary Bank: DBS Bank
- Address of Beneficiary Bank: 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982
- Country: Singapore
- Swift Address/DBSSSGSG
Note: Always refer to DBS website for the latest information of DBS & POSB Swift Code.
Payments and transfers
To transfer to a recipient who has a registered PayNow account:
- Login to your Lucy app and choose the account you wish to transfer from.
- Click Send.
- Click Local PayNow account.
- You can choose to transfer via scanning a QR code, mobile number, NRIC or UEN.
- Enter the amount you would like to transfer.
- Enter a description or reference. This is optional and you can click continue to skip this step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
You can transfer money to other banks in Singapore using the FAST bank transfer:
- Login to your Lucy app and choose the account you wish to transfer from.
- Click Send.
- Click Local bank account.
- Choose the bank and enter the recipient’s name and account number. Click continue.
- Enter the amount you would like to transfer.
- Enter a description or reference. This is optional and you can click continue to skip this step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer.
If you have more than one Lucy account or Pocket Saver, you can transfer money between all of them.
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- Login to your Lucy app and choose the account you wish to transfer from.
- Click [Send].
- Choose which Lucy account you would like the money to transfer to.
- Enter the amount you would like to transfer.
- Enter a description or reference. This is optional and you can click continue to skip this step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
To transfer to a recipient who is also a Lucy account holder, you will need to add them as a connection first. Please refer to the section: Creating and managing your accounts, Adding a Lucy member as your Connection.
Once the recipient has been saved as your Connection, you will be able to transfer money to their Lucy account by following these steps:
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- Login to your Lucy app and choose the account you wish to transfer from.
- Click Send
- Choose which Lucy member you would like the money to transfer to.
- Enter the amount you would like to transfer.
- Enter a description or reference. This is optional and you can click continue to skip this step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
Need to transfer money on a regular basis to the same account? You can now setup a weekly or monthly recurring transfer and not have to worry about forgetting the transfer again.
- Login to your Lucy app and choose the account you wish to setup a recurring transfer from.
- Click [Send].
- Click on the local bank account or Lucy member that you want to send to (it must have previously been saved as your Connection).
- Enter the amount.
- Click [Recurring].
- Choose the frequency, date to start and number of payments.
- Review the information and click [Confirm] only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Currently, Lucy supports the transfer of money to Philippines, Indonesia and Sri Lanka. More countries will be added in the future.
Lucy charges only $1.50 when you make a transfer to an Indonesia, Philippines or Sri Lanka bank account. To make a transfer, follow the steps below:
- Login to your Lucy app, choose the account or pocket saver you wish to transfer money from.
- Click Send.
- Click Overseas bank account.
- Click Indonesia or Philippines or Sri Lanka.
- Click Individual.
- Choose the bank from the list.
- Enter the Amount you would like to transfer and click Continue.
- Enter the Beneficiary Details and click Continue.
- Enter a Description or reference for the payment. This is optional and you can click continue to skip to the next step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
Lucy charges only $3.00 when you make a transfer to Philippines GCash. To make a transfer, follow the steps below:
- Login to your Lucy app, choose the account or pocket saver you wish to transfer money from.
- Click [Send].
- Click [Overseas mobile money].
- Click [Philippines].
- Click [GCash].
- Enter the Amount you would like to transfer and click [Continue].
- Enter the Beneficiary Details and click [Continue].
Note: The mobile number should be a 10 digit number. The country code 63 is not required. - Enter a Description or reference for the payment. This is optional and you can click [continue] to skip to the next step.
- Review the information and click [Transfer] only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - You will receive a notification when the transaction is completed.
Lucy charges only $3.00 when you make a transfer to Philippines cash agents (Cebuana, LBC Express, Perahub). To make a transfer, follow the steps below:
- Login to your Lucy app, choose the account or pocket saver you wish to transfer money from.
- Click Send.
- Click Overseas cash payout.
- Click Philippines.
- Choose one of the cash agents.
- Enter the Amount you would like to transfer and click Continue.
- Enter the Beneficiary Details and click Continue.
Note: The mobile number should be a 10-digit number. The country code 63 is not required. - Enter a Description or reference for the payment. This is optional and you can click continue to skip to the next step.
- Review the information and click Transfer only if you are sure that the information is correct. Otherwise, you may click on the back button at the top left corner to make changes.
Note: You will not be able to change or cancel a transaction once you've clicked Transfer. - The recipient in Philippines will receive a SMS via the mobile number you have entered in Step 7.
Your Lucy debit Mastercard
You will be asked to choose one of the two designs when you are signing up and completing your identity verification. To order more cards for your other Lucy accounts, follow these steps:
- Login to your profile on the Lucy app.
- Choose the account you wish to apply for a Lucy Debit Mastercard.
- Click Settings (top right hand gear button).
- Click [Order my Lucy Mastercard].
You can choose the WeLucy card or the Lucy logo card. The Lucy Luxe Metal Card is currently on a waitlist basis. Please check the box on this page if you are interested. - Check your mailing address details. You may change the address if it is incorrect.
- Confirm the details to be printed on your card - your Cardholder name and Account name. You can edit both details at this page should you wish to rename them.
- Reconfirm your card design, card information, and address as suggested on this page. By clicking [Confirm] and ordering your card, you accept our terms and conditions.
Your Mastercard has now been successfully ordered and we'll mail your Lucy card to the mailing address in 3-5 business days (delivery time may vary depending on the postal service). You will receive an email notification once your card has been mailed out. If you do not receive the card, please reach out to our Customer Support here - we'll help you track it.
Before you can start using your Lucy Debit Mastercard, you will need to activate the card and ensure there are enough funds in the account. To read more on how to make a deposit into your Lucy account, please refer to Receiving money, How can I receive money into my Lucy account?
To activate your card, follow these steps:
- Login to your Lucy app and choose the account associated with the card (it's named My Account by default).
- Click Settings (top right hand gear button).
- Click [Activate my Lucy Mastercard].
- Enter your Mastercard 16 digit number that you received in the mail.
- Enter the OTP sent to your mobile number.
- Confirm your Date of Birth.
- Enter a 6-digit Mastercard PIN of your choice. This is the PIN number required to input at point-of-sale systems when making purchases overseas.
- Repeat the same Mastercard PIN.
- Your Mastercard is now activated.
It’s easy to check if your Mastercard is already activated. To do so:
- Login to your Lucy app and choose the account associated with the card (it's named My Account by default).
- Click Settings (top right hand gear button).
- If it’s showing “My Lucy Mastercard”, your Mastercard is already activated. Otherwise, you will see “Activate my Lucy Mastercard”.
Lucy provides you with the convenience of blocking your card immediately through the app if you misplaced your card. To do so,
- Login to your Lucy app and choose the account associated with the card (it's named My Account by default).
- Click Settings (top right hand gear button).
- Click [My Lucy Mastercard].
- Click [Block card].
If you find your card again, you can unblock your card by clicking [Unblock card]. If you have permanently lost your card, you can also order a replacement card at this card Settings page.
Yes! For every $10 that you spend on your Mastercard in a single transaction, you will be awarded 1 Lucy Lumen Point. The points go towards helping underprivileged women in Singapore. On our webpage https://welucy.com/payitforward/ you can see a range of different things you can “buy” with your points, all of which will help low-income and underprivileged women in Singapore to make better lives for themselves and their families.
If you've forgotten your card PIN, you will be able to change a new PIN by following these steps:
- Login to your Lucy app and choose the account associated with the card (it's named My Account by default).
- Click Settings (top right hand gear button).
- Click [My Lucy Mastercard].
- Click [Change your PIN].
- Enter a new Mastercard PIN
- Enter the new PIN again.
- Your Mastercard PIN has been successfully changed.
The standard Lucy Debit Mastercard is free! Your first replacement of the standard Lucy Debit Mastercard is also free, and after that, we charge S$10 per replacement.
Currently, you cannot use Lucy cards at local ATMs in Singapore. However, they will work at any Cirrus or Mastercard ATMs around the world.
Yes! You can use your Lucy card at any store that accepts Mastercard even when you are overseas.
If you need to withdraw cash while you are overseas, you may do so at any Cirrus Mastercard ATM. We will change the amount into the card’s currency at an exchange rate provided by financial exchanges. Withdrawals at international ATMs are charged at 2% of the value of the amount withdrawn, plus any charges that are stated by the ATM provider.
Managing lending and borrowing with your connections
Lucy provides a Person to Person (P2P) lending platform that enables borrowers and lenders to set up a loan agreement between themselves. The interest rate is decided between both of you, and you can decide on the repayment terms such as payment date, number of instalments and interest rate.
You can either offer a loan to or request for a loan from your Lucy Connection (they need to be set up as a Connection first), with the terms clearly stated.
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- Login to your Lucy app and click the + button on the homepage.
- Click [I want to request a loan from my connection] OR [I want to offer my connection a loan].
- Choose the Lucy member from your Connections.
- Use the slider bar to change the loan amount, repayment period and interest rate.
- Choose the preferred account to loan the amount from (if you’re the lender) or /receive the loaned amount into (if you’re the borrower).
- Select the first repayment date.
- Enter the reason for the loan.
- Review the proposed terms of the loan and click [Agree] if it is correct.
- Enter “Agree” and click [Confirm].
When your Connection sends you a loan offer, you will receive an email notification. To review the loan offer:
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- Login to your Lucy app and click on the Menu button on the top left.
- Click [Loans[
- Click [Request Status]
- Choose the loan offer
- Click [Reject] or [Accept]
- If you choose to reject the loan offer, you will be prompted to enter a reason before you enter “Agree” and click [Confirm]
- If you choose to accept the loan offer, you will be able to review the terms of the loan before you enter “Agree” and click [Confirm]
When your Connection sends you a loan request, you will receive an email notification. To review the loan request:
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- Login to your Lucy app and click on the Menu button on the top left.
- Click [Loans]
- Click [Request Status]
- Choose the loan request.
- Click [Reject] or [Accept]
- If you choose to reject the loan request, you will be prompted to enter a reason before you enter “Agree” and click [Confirm]
- If you choose to accept the loan request, you will be able to review the terms of the loan before you enter “Agree” and click [Confirm]
When your Connection accepts your loan offer, you will receive an email notification. To review the loan offer:
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- Login to your Lucy app and click on the Menu button on the top left.
- Click [Loans]
- Click [My Loans]
- Choose the Loan offer.
- You will be able to view the loan information including the loaned amount, number of repayments remaining, next due date and the loan agreement.
When your Connection accepts your loan request, you will receive an email notification. To review the loan offer:
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- Login to your Lucy app and click on the Menu button on the top left.
- Click [Loans]
- Click [My Loans]
- Choose the Loan request.
- You will be able to view the loan information including the borrowed amount, number of repayments remaining, next due date and the loan agreement.
We will send you email reminders as early as 3 days before the repayment date so that you can ensure there is sufficient funds in your account. You may also login to your Lucy app, click on Menu, [Loans], [My Loans] to check on the repayment date.
When you and your Connection agreed on the loan terms, the repayment amount and dates are stated. Lucy will deduct these amounts on the repayment dates as per your loan agreement.
You will receive an email notification when the repayment is done, and you can also check on your Lucy account transactions and loan status.
We will send you daily email reminders to ensure that you don’t miss the repayment date. Once your account has sufficient funds, we will make a transfer of the owed amount to the Connection you borrowed the money from.
Lucy provides a platform that enables a borrower and lender to set up a loan agreement. The loan is not being offered by Lucy. Lucy is not a licensed moneylender and cannot provide loans.
Once the loan has been accepted, Lucy is unable to assist in changing the terms of the loan.
Lucy understands it’s a tricky situation when a friend or family member who has borrowed money fails to repay on time. The Lucy app starts sending email reminders on behalf of the lender 3 days prior to the repayment date so the borrower can ensure there is sufficient funds in their account, and will keep sending daily reminders if a payment is missed.
As the loan agreement is between the you and the borrower, Lucy cannot take any action on your behalf with regards to unmet repayments.
We collect an administrative fee of $10 per loan setup and this amount is charged to the lender when the loan is set up.