Frequently Asked Questions
Find answers to common questions about Lendly.
Lendly is a peer-to-peer lending platform that connects people who want to lend money with people who need short-term funding. We provide the technology that enables users to connect, manage funding arrangements, and track repayments.
No, Lendly is not a bank. We are a technology platform that facilitates peer-to-peer funding between users. Lendly does not lend money itself.
Recipients can request funding up to $2000 for a maximum term of 30 days.
Lendly charges a 5% fee on funded requests. All fees are clearly shown before you confirm.
We use ConnectID, an Australian Government accredited identity service, to verify your identity through your existing bank. No need to upload documents.
Lendly tracks all repayments and sends reminders. If a repayment becomes significantly overdue, the case may be referred to our collections partner. Funding involves risk, including the possibility of delayed or missed repayments.
All payments are processed securely through our payments partner using NPP/PayID for real-time transfers.
Download the Lendly app from the App Store, create an account, and verify your identity through ConnectID. Once verified, you can start lending or requesting funding right away.
Yes! When you sign up, you can choose to be a Lender, a Recipient, or Both. You can change this at any time in your profile settings.
Identity verification through ConnectID is usually instant. You simply confirm your identity through your bank's app, and you're ready to go.
ConnectID is supported by major Australian banks including Commonwealth Bank, NAB, ANZ, and Westpac. More banks are being added regularly.
All fund transfers are processed through NPP (New Payments Platform) via PayID, meaning transfers are instant and secure.
If you're having trouble making a repayment, contact us as soon as possible. We track all repayments and send reminders. Significantly overdue repayments may be referred to our collections partner.
Yes. We use bank-level security and encryption. Your identity is verified through ConnectID without us storing sensitive documents. We never share your personal information with other users.
You can reach our support team through the Contact page on this website, or through the Help section in the app. We aim to respond to all enquiries within 24 hours.