There may be times and situations when you need others to access your Lendy lender account. You are able to give someone you trust the authority to manage your Lendy account and handle your day-to-day investment activity on the Lendy platform. You can cancel the agreement at any time.
Lendy account holders are able to authorise another person (the “Nominee”) to operate their Lendy lender account on their behalf in two ways. This can be done either with (1) a Third Party Mandate; or (2) under a Power of Attorney. The appropriate route is to be determined by Lendy in light of the circumstances of each particular case.
In each case Lendy will need to be provided with:
(1) a paper (original) certified copy of the Lendy account holder’s ID; and
(2) a paper (original) certified copy of the Nominee’s ID.
Account holders who wish to enable a Nominee to operate an account on their behalf using a Third Party Mandate should fill out the Third Party Mandate Form and send this to the Lendy support team. Identity checks will be carried out on your Nominee for regulatory purposes.
Please note that in the event of Lendy becoming aware that an account is being operated by a Nominee who has not yet been authorised, Lendy will inform the account holder and the nominee of the steps required to be taken to authorise the operation of the account by the nominee. If the nominee is not authorised within ten working days of this notice, the account will be frozen pending completion of the authorisation process.
You should talk to your Nominee, so they understand exactly what you would like them to do on your behalf. Make sure they read the FAQs and the platform terms and conditions for the account they will have access to carefully. Ask if they have any questions so you are both clear on what you would like them to do, and what you would like them to refrain from.
- You and your Nominee must be aged 18 or over
- Your Nominee’s access to your account will be cancelled if you become mentally incapable of managing your financial affairs, as defined by the Office of the Public Guardian (OPG), or in the event of your death
- We can’t set a limit for any transactions made by your nominee, so you’ll need to monitor your accounts
- There’s no charge to set up Third Party Access and you don’t have to be registered with the OPG
- You can cancel Third Party Access at any time
Please remember that you are responsible for all information and activity on the platform by your Nominee. If you authorise any person to use your Lendy lender account other than yourself, you will be responsible and liable for their activity on the platform within your Lendy lender account.