Terms and Conditions of Lydia Plans

These Terms and Conditions of Lydia plans were applicable from April 11, 2023 to May 9, 2023.

The previous version is available at the following address: https://sumeria.eu/en/terms-and-conditions-of-lydia-plans-11-04-2023/.

These terms and Conditions of Lydia plans have been replaced on 10 May, 2023 by the Paying plans agreement.

Lydia Solutions (“Lydia”) is a simplified joint-stock company registered with the Paris Trade and Companies Register (RCS) under number 534 479 589 with share capital of €1,785,979 with registered address at 14 avenue de l’Opéra, 75001, Paris.

Lydia is registered with the Autorité de Contrôle Prudentiel et de Résolution (French Prudential Supervision and Resolution Authority [ACPR]), established at 4 Place de Budapest – 75436 Paris Cedex 09 under number 534 479 589 and mandated by OKALI  (“Banking Partner”) as a Payment Service Provider (“PSP agent”, as set forth in Articles L523-1 et seq. of the Monetary and Financial Code).

OKALI  is an electronic money institution (establishment code 17448) whose registered office is at 50 rue la boétie , 75008 Paris, France, registered with the Paris Trade and Companies Register under number 890 111 776 and registered by the ACPR.

1. What is the purpose of the Lydia Plans T&Cs?

 These Terms and Conditions govern:

• The conditions of membership and termination of services distributed by Lydia to Lydia+, Green+ and Black+ plan subscribers (the “Plans”);
• The use of the Plans functionalities, as detailed in “Why switch to the Plans?”

If these T&Cs are amended, the Consumer is notified two months before the entry into force of the new T&Cs Plans. The Consumer shall have until the entry into force of the new T&Cs to object to them in writing to the following addresses:

• By mail: Lydia Solutions, 14 avenue de l’Opéra, 75001 Paris;
• By e-mail: support.sumeria.eu.

2. Who can access Lydia Plans?

In order to subscribe to Lydia Plans, the Consumer must:

• be a Consumer of Lydia, a limited offer to use Lydia free of charge, having therefore accepted the Terms and Conditions of Use of the Lydia Solution for Individuals and having one or more Lydia payment accounts (“Lydia Payment Account”);
• have access to the Internet and a compatible device and installed the latest available version of the Lydia application (the “Application”);
• provide an up-to-date, valid and accepted payment means (which the Consumer may change at any time);
• have a valid local mobile phone number (see Lydia User Manual).

3. Why switch to Lydia Plans?

Lydia offers less restrictive limits to the services already available in “Lydia Free” and provides Consumers with access to new services, which are detailed on Lydia’s website.

The services described below may be subject to specific conditions detailed in the Pricing Appendices.

Lydia offers 3 Plans:

a)    Lydia+: who allows Customers to access to all the services distributed by Lydia:

• Payment account
• Shared account
• Payment card, physical or virtual.

In addition to the possibility to create several payment accounts, joint accounts and payment cards (physical or virtual), the Lydia+ customer will also be able to benefit from the following services: 

1. Discount service (also called “Automatic Cashback”) 

The Individual Customer who has subscribed to a Lydia Plan benefits from Paylead’s partnership discount service allowing him/her to obtain a refund of part of the amount of his/her purchase on his/her Lydia Customer Account (“Cashback”), provided that :

• they make a purchase of an eligible good or service from a partner merchant (“Retailer”);
• make the payment with a Lydia Visa Card; and
• meet all the conditions imposed by the Retailer.

The Individual Customer who has subscribed to a Plan is informed that the Retailers and the Cashback offered by them may change at any time. It is therefore the duty of the Individual Customer to ensure that the Cashback he/she is interested in are still available when purchasing a good or service.

Furthermore, before making a purchase from a Brand, the Individual Customer must ensure that the website or shop where he wishes to make his purchase is actually the one of the Brand and not a third party. 

The Cashback service is exclusively reserved for personal use. The use of this service in the context of a professional activity will oblige the Individual Customer to reimburse all the Cashback received and will result in the immediate termination of the present contract.

The Cashback is only due to the Individual Customer from the moment the purchase is final. This means that as long as the Individual Customer can exercise his right of withdrawal or reflection or as long as the order has not been paid in full, for example due to delivery or payment facilities, the Cashback is not due. If the Individual Customer returns a product or cancels a service after the Cashback has been paid, the Cashback must be returned. Furthermore, for certain services, in particular those relating to air transport or travel, the Cashback will only be paid after the service has been performed.

Lydia shall promptly transmit the necessary information to PayLead so that the Individual Client can receive the Cashback. However, the Individual Client acknowledges that the Cashback cannot be paid until the Retailer has transferred them to Lydia. Depending on the Brand, the delay is variable and may take up to several months.

The Individual Client acknowledges and agrees that Lydia transfers to PayLead the transaction records (time stamp, title, amount, beneficiary, etc.) of the Lydia Payment Account and the bank accounts linked to the Lydia Application, in order to allow Lydia and PayLead to identify the transactions eligible for a Cashback and to proceed to their payment. PayLead also analyses bank transaction data to provide personalised offers based on transaction history and consumption patterns. Lydia and PayLead are both Data Processors, as defined by the French Data Protection Act (Loi informatique et liberté). For more information, the Individual Client may refer to Lydia’s Privacy Policy and PayLead’s Privacy Policy.

Lydia will pay the Cashback directly into the Payment Account of the Individual Customer. This payment is made on the 20th day of each month and includes all the Remittances due to the Individual Customer by the Retailers.

The Individual Customer can follow the purchases he has made from the Retailers directly from the Lydia Application. He may also, upon request to Lydia Support at the email address support.sumeria.eu, obtain a free electronic statement of transactions.

Lydia and PayLead may terminate the Retail Customer’s access to the service without charge by simple notification by email, after expiry of a two-month notice period.

However, Lydia is exempted from the notice period and may terminate immediately in case of serious misconduct of the Retail Customer (in particular if the Retail Customer refuses to provide information or provides false or inaccurate documents or threatens or insults a Lydia employee) or in case of non-compliance with any of the obligations of these Terms and Conditions. In this case, the Individual Customer may be required to pay a regularisation / processing fee (see Appendix Rates & Limits).

The Cashback, possibly reduced by fees or undue payments, collected prior to the termination will be automatically transferred to the Payment Account of the Individual Customer at the end of the current month. The Individual Customer is invited to check the information contained therein in order to assert his rights as soon as possible if necessary.

The Individual Customer subscribes to the Cashback service for an indefinite period of time, and may terminate his subscription at any time and request that he no longer benefit from Cashback, by paying any amounts due.

To this end, the Individual Customer contacts Lydia Support by email at support.sumeria.eu. An email will be sent to the Customer confirming the termination within 5 (five) working days of receipt of the termination request.

A termination request to the Cashback service initiated by the Individual Customer does not entail the termination of the Plan, unless the Individual Customer requests otherwise.

The Buyer may at any time re-subscribe to the Cashback service directly in the Application (see Lydia Manual).

In case of termination of a Paying Membership, the Individual Customer will cease to benefit from the Cashback service for any purchase made after termination.

2. Gift cards

The Individual Customer who has subscribed to a Lydia Plan can purchase gift cards via the Application. A gift card is a dematerialised card credited with a defined amount that allows purchases to be made from the card issuer. These gift cards can be used to pay in-store or on the partner brand’s website, using a code provided at the time of ordering.

Before choosing a gift card, the Individual Customer must read and accept the conditions of validity and use of the gift card specific to each brand. The choice of a gift card is final and cannot give rise to an exchange or refund by Lydia or the partner store in any form whatsoever.

The individual customer will receive the gift card by e-mail within the specified time. A gift card is digital content not provided on a physical and personalised medium and is therefore neither exchangeable nor refundable nor eligible for withdrawal.

The offers are independent of Lydia, the company issuing a gift card is solely responsible for ensuring the validity of the voucher under the conditions indicated on it and previously accepted by the Individual Customer. For any question or claim regarding the use of a gift card, the Individual Customer should contact the retailer directly at the address indicated on the gift card.

Lydia does not share personal data of the Individual Customer to the company or to a third party. Only information about the use of the gift card and the profile of the recipient may be used and shared with a third party in order to offer the Individual Customer the most relevant goods and services.

In the event of termination of a Plan, the Individual Client will no longer be able to purchase gift cards from the time of termination. 

3. Trading account 

The Individual Customer who has subscribed to a Lydia Plan can benefit from trading services via the Application. This trading account is offered in partnership with our partners Bitpanda GmbH (E2020-006, FN423018k) and Bitpanda Financial Services (FN551181k);

The Lydia Trading Account is a dedicated platform and account open to all users of a Plan, to invest with Lydia in the assets offered on the Bitpanda platform. The Individual Client who subscribes to a Lydia Plan and who would like to benefit from the trading services is invited to consult and accept the Bitpanda x Lydia Terms and Conditions.

In the event of termination of a Plan, the User will keep the ability to hold and sell the assets purchased with the trading account offered in partnership with Bitpanda. However, the Client will not be able to purchase new assets from the time of termination.

4. Personal credits

The Individual Customer who has subscribed to a Lydia Plan may benefit from personal credit services via the Application on favourable terms, subject to the conditions of granting. In particular, the number of loans that can be granted to an Individual Customer having subscribed to a Lydia Plan subscription is not capped and the instant fund transfer options will be free of charge. 

The Individual Customer who subscribes to a Lydia Plan and who would like to subscribe to a loan with our partner Floa is invited to consult and accept the “Coup de Pouce” General Conditions.

In case of termination of a Paying Subscription, the Individual Customer will not be able to subscribe to a new “Petit Prêt Express” above 1500€ or to a new Revolving Loan.

b) Lydia Green+: which allows, in addition to the services accessible via Lydia+, that the amount of money deposited in the Lydia Green+ customer’s current account (the “Lydia Green+ Account”) is invested by Lydia in an account opened with La NEF, an ethical bank, and can only be used to finance social, ecological and cultural projects 

c)    Lydia Black: in addition to the services available under Lydia+, Lydia Black+ offers:

• An insurance for your travel, your cars renting, fraudulent payment and even more;
• An access to Lydia’s partners services (*);
• The possibility to take appointment to be called back by Lydia customer care service.

For more information on the Subscriptions, the Customer can consult the Lydia Manual.

Services may subject to additional fees; please consult the Pricing Appendix for more information.

In addition to the services and functionalities mentioned above in this section, Lydia offers, to its Individual Customers benefiting from a Plan, functionalities related to: 

– investment; 

-account customisation; 

-personal finance management;

-partnerships;

– and other benefits.

Lydia keeps the right to make additional advanced features available to Individual Customers who have subscribed to a paid subscription and to upgrade them. 

The partners may change at any time, the Customer should regularly consult Lydia’s partners list.

4. How much does Lydia Plans cost?

The Subscription Tariffs are specified in the Pricing Appendices.

The Consumer can choose between two formulas for the Lydia+ offer :

• Annual formula: Consumers are committed for 12 (twelve) months, day to day, from the date of subscription;
• Monthly formula: doesn’t imply any time commitment for Lydia Blue. For Lydia Black, the subscription is annual, with monthly or annual billing.

Customer can choose between an annual or monthly billing for the monthly formula.

For the Lydia Green+ and Lydia Black+ Customer, the Subscription is annual, with monthly or annual billing.

The Subscription is automatically renewed until the Consumer cancels his Subscription. Any period started is due in full (see When and how can I terminate my Subscription? > Termination by the Consumer).

Subscription fees are directly debited each month (or year) on the day before the calendar day of subscription. This day may vary if the Consumer’s Payment method could not be debited on the day in question or if the day in question does not appear in a given month.

By default, the Subscription is debited from the credit card linked to the Application.

The Consumer may, however, change the payment means to be debited (see Lydia User Manual), at the time of subscription or afterwards. If the Lydia Payment Account and the Consumer’s payment means do not have sufficient funds to collect the fees, the Consumer Subscription shall be suspended within three days of its anniversary date.

When the Consumer exceeds certain limits, he/she may continue to use the Application by paying additional fees (see Pricing Appendices).

The Consumer may view the list of the amounts charged by consulting his/her transaction history in the Lydia Application.

Some Customers may benefit from a temporary discount on their Subscription. These discounts are for a limited period (specified in the conditions of the relevant offer). After this period, the discount is no longer applicable and the Customer’s Subscription is automatically renewed. Thus, if he does not cancel his Subscription before the end of the discount, the Customer will be required to pay monthly Subscription fees, for Lydia Bleu, Lydia Vert and annual for Lydia Noir.

5. When the Subscription ends ?

Withdrawal

The Consumer may exercise his right of withdrawal within 14 (fourteen) calendar days of subscribing to the Service, in accordance with Article L.227-7 of the French Consumer Code, by sending:

• A letter to the following address: Support Lydia, 14 avenue de l’Opéra 75001 Paris; or 
• An email to: support.sumeria.eu.

This retraction does not require any justification and is not subject to any fees. Withdrawal terminates the application of the present contract by operation of law. The commencement of performance does not deprive the Consumer of the right of withdrawal. The Consumer shall be required to pay the price corresponding to the use of the product for the period between the date of commencement of performance of these T&Cs and the date of withdrawal, to the exclusion of any other sum. The Consumer must withdraw by means of the form attached to the last page of these T&Cs.

Cancellation by the Consumer

The Consumer may terminate his subscription to the Service at any time by unsubscribing from the Plans:

• via the Application in the Subscription menu until two day before the monthly or monthly billing date for monthly Subscription and 1 (one) month before the annual billing date for annual Subscription;
• by sending a message to the e-mail address support.sumeria.eu, up to 7 (seven) business days before the monthly for monthly Subscription and 45 (forty-five) days before the annual billing date for annual Subscription.

In accordance with French consumption law, the Customer who subscribes to annual Subscriptions will be informed, in writing, of his Subscription renewal one month before the annual billing date.

Any period started is due in full. Thus, a Consumer who cancels his Subscription will not be reimbursed for the Subscription fees for the current period.

The Consumer who benefits from a free trial does not benefit from a right of withdrawal but remains free to cancel his Subscription at any time, free of charge.

Cancellation by Lydia

Lydia may terminate the Lydia Subscription of the Consumer by simple notification by email with 30 calendar days’ notice.

However, Lydia Solutions is exempt from respecting the notice period and may immediately terminate the Consumer’s Lydia Subscriptions in the event of seriously reprehensible behavior on the part of the Consumer (notably in the event of refusal to provide information, sending false or inaccurate documents or threats or insults against a Lydia Solutions employee) or failure to comply with one of the obligations arising from these Terms and Conditions of Use.

In this case, the termination of the Subscription will be effective immediately, and the amounts invoiced for the Subscription for the current month or year will not be refunded.

Effects

Withdrawal or cancellation will terminate the Consumer’s Subscription to Lydia from the date of receipt of the request.

The Consumer will continue to be bound to the performance of contractual payment obligations for the period up to the withdrawal.In the event of cancellation, the Consumer will continue to benefit from his Subscription until the end of the current period, which he has already paid for, except in the event of a breach of these terms or of the law in force, which will result in the immediate blocking of the Consumer’s Account. As of the termination or withdrawal, the Consumer will be subject to the payment thresholds applicable to Individual Consumers who have not subscribed to a Lydia Plan (see Pricing Appendices).

6. What to do in case of improper or non-authorized operation?

The Client who want to contest an operation shall consult the dedicated part into the Lydia Terms and Conditions for Consumers.

7. How to contact Lydia to make a claim?

In the event of a complaint, Consumers can send a letter to the following address:

• Postal mail: Service Réclamation, 14 avenue de l’Opéra, 75001 Paris;
• Email: support.sumeria.eu.

8. Security

Lydia Accounts safety features are detailed into the Lydia Terms and Conditions for Consumers.

If the Consumer has doubts about the legitimacy of a request for confidential and/or personal information, it is advisable to contact the support department at the e-mail address support.sumeria.eu.

9. Applicable law

These T&Cs are subject to French law. Only the French version of these T&Cs is authentic. In the event of a dispute, the Consumer is invited to attempt to seek an amicable solution with OKALI’s Mediator, by mail, at the following address M. le Médiateur de l’Association des Sociétés Financières 24 avenue de la Grande Armée, 75854 PARIS CEDEX 17 or via the website http://lemediateur.asf-france.com/. 

In the absence of an amicable settlement, the French courts shall have jurisdiction.

As a consumer, you will benefit from any mandatory provisions of the law of the country in which you are resident. Nothing in these terms and conditions, including this agreement, affects your rights as a consumer to rely on such mandatory provisions of local law.

RETRACTATION 

In accordance with Article L.121-20-12 of the French Consumer Code, I benefit from a cooling-off period of 14 (fourteen) calendar days from the date of subscription without charge or reason. This retraction is only valid if it is sent, legibly and fully completed, before the expiry of the above-mentioned period, by post to the following address: 14 avenue de l’Opéra 75001 or to the following e-mail address: support.sumeria.eu.

In accordance with the contract concluded on (subscription date dd/mm/yyyy) ………………………………………….. with Lydia and its Partner.

Done on (date):

Signature: