FAQ - Frequently Asked Questions • Lenny Credit
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FAQ – Frequently Asked Questions


How much is a Lenny line of credit?

A Lenny line of credit ranges from $100 to $500, depending on your eligibility. You can also earn up to a $300 credit increase each semester if you pay your Lenny bill on-time!

What’s the interest on a Lenny credit line?

See our current rates here.

Who can apply for a Lenny credit line?

Anyone can apply for a credit line with Lenny.

How long does it take to get approved for a Lenny credit line?

It takes less than 10 minutes to get approved for a Lenny credit line, except in cases that require manual review.

What is Dwolla?

Dwolla provides a software platform that allows applications to seamlessly move money between users’ bank accounts. Dwolla is a powerful payments platform that securely connects to bank or credit union accounts to enable the transfer of money for any individual or organization in the U.S.

Applying for a Lenny Credit Line

How do I apply for a Lenny line of credit?

Simply download the app to your IOS phone or Android and follow the steps. Create an account with your name and username, provide the necessary information to get approved for a Lenny line of credit, and sit back and wait a matter of minutes.

How long is the application process?

The process to determine your eligibility to apply is quick and simple. When you sign up for a Lenny account and provide the required information , Lenny determines if you are eligible to apply for a line of credit. To find out if you have been deemed eligible, just click on “Check My Rate” and find out the terms of the line of credit you can apply for..


Lenny will receive the information you provided for your inquiry for a line of credit and each user will find out if they are eligible to apply on the same day they applied.

Does applying for a Lenny credit line affect my credit score?

No, applying for a Lenny credit line does not affect your credit score.

Signing Up for a Regular Lenny Account

How do I sign up for a Lenny account?

In order to sign up for a Lenny account, you must first download the app to your IOS device (Android coming up soon!). Once you have downloaded the app, you can easily sign up for a Lenny account by following the app’s easy to follow steps that guide you through the process of signing up for our service.

Why do you ask for personal information such as SSN or DOB?

Due to federal laws, we must verify the identity of everyone who creates an account. In order to accomplish this, we must ask for information like Social Security Number and Date of Birth.

Why am I am being asked for a photo ID?

It looks like we were unable to systematically verify your account based on public records. We’re requesting a photo ID to ensure that your account belongs to you.

What type of photo ID can I provide?

We can only accept one of the following state or federally-issued photo IDs:
– an unexpired, current state-issued driver’s license or identification card or a current US passport

Is my information safe?

Your data resides on servers that are protected both physically and electronically. Transactions do not pass sensitive financial information to recipients, removing significant information security risk. Out platform and systems are monitored and undergo routine penetration and intrusion testing to protect our community.

Verifying your email and phone number

Lenny will send you an email to the email address you prefer to register with. Follow the steps in this email to verify your email address and phone number.

Can I use Lenny outside of California?

Yes, you can still access your free credit score and start earning points toward future balance increases when Lenny comes to your state. At the moment, Lenny is providing lines of credit only to select California residents; however, we expanding nationwide throughout 2017.

Phone number/email is already registered, but I can’t sign up!

Having troubleshooting issues? Feel free to reach out to our customer support team at support@getlenny.com for further assistance in registering your account.

I was not offered a Lenny Line of Credit:


Lenny offers users the ability to apply for lines of credit taking into consideration several factors, such as credit history, education, professional profile, and other factors. If you are not given the opportunity to apply for a line of credit, it is likely because certain aspects of your profile or history do not fall within our criteria for eligibility.


Yes! You can still access your free credit score and our financial education resources.


Yes. We suggest that you wait 4 to 6 months before inquiring about your eligibility.


If you are a student, you increase your chances just by increasing your GPA! For everyone else, we look at various data points to determine your eligibility. Certain life changes, such as a change in salary, may increase your chances.

My Lenny Line of Credit was Approved

I was just approved for a Lenny line of credit. When will my funds be available?

Your funds will be available immediately to pay other Lenny users, but it will generally take 2-3 business days for the funds to be available in your bank account.

How long will my funds be pending?

Your funds should only be pending for no longer than 2-3 days and you will receive a notification once your funds are available to you.

Lenny Bill Payment

When is my bill due?

All bills will be due on the 10th of every month. For example, if you use your credit line from October 10th – November 9th – payment is due on December 10th. If you use it November 10th – December 9th – payment is due on January 10th Essentially, users will have a minimum 1 month grace period and in some instances, as much as a 59 day grace period.

How do I pay my bill?

Log into the Lenny app to pay your bill. Tap the menu icon on the top bar (left) and select ‘Pay a Payment’ at the top of the menu.

Can I pay my bill online or only through the app?

If you really want to, you can send us a check. However, please understand that we do all we can to be a paperless company, and to save as much of those trees as we can. Therefore, we charge a fee for processing check payments. See you line of credit agreement for more details about the fees that apply.

I lost my phone and my bill is due. How do I pay?

Sorry to hear that you lost your phone! Please contact us immediately at support@getlenny.com.

Bank Transfers

How do I transfer money to my bank account?

When a friend sends you money, it will immediately be available in your Lenny balance. In order to send funds to your bank account you will have to 1) add a bank account 2) verify that the bank account added is yours 3) send funds to your bank account.

What is the status of my transaction/how long does it take to clear?

Transfers to your bank account will take 2 – 3 business days.

Is there a limit on the amount I can transfer to my bank?

If you have not yet confirmed your identity on Lenny, then you may only transfer a certain amount per week. If you would like your transfer a bank limit increased, please add your facebook account or SSN to your Lenny account.

My bank transfer failed. What should I do?

Most bank transfers in Lenny should take 1 business day to process. If the bank transfer does not appear within 2 business days of your original request date, it is likely that the bank account information you provided was incorrect. When the bank information is incorrect, the bank will return the funds in 5 business days to your Lenny balance, and Lenny will notify you via email that the funds are bank in your Lenny account. Note: If you still don’t see your bank transfer in your bank or the funds back in your Lenny balance within 5 business days, please contact us so we can help you track it down.

Why did my transaction fail?

A transaction fails when we receive an ACH reject code from your financial institution. This is an action your financial institution makes when we send them a request to send or receive a transaction. The reason for these ACH errors varies, but some of the common issues are: Insufficient funds, invalid account number, unable to locate account, frozen account, unauthorized transaction.

When are bank holidays?

It’s important to note that, on bank holidays, transfers to banks will not be deposited in your bank account. Any transfer to a bank you submit the day before a bank holiday will not reach your bank account until the next business day after the holiday. The list of U.S. bank holidays can be found in the table below.

1. New Years day (1/1) 2)Martin Luther King Jr’s Birthday (1/19) 3) Washington’s Birthday (2/16) Memorial Day (5/25) Independence Day (7/4) Labor Day (9/7) Columbus Day (10/12) Veteran’s Day (11/11) Thanksgiving Day (11/26) Christmas Day (12/25)

What is Bank Transfer Mode?

When the app is displaying bank transfer mode, it means that you can still pay your friends who have Lenny accounts. In this instance, the funds will come directly from your bank account instead of your Lenny account.

Bank Account & Cards

How do I add a bank account?

To add a bank account to your Lenny account, click here and follow the instructions. Depending on your bank, you will be prompted to add your online banking username and password, or you will be prompted to add your bank account and routing number manually. You will always have the option to add your bank account manually if you prefer.

How do I add a credit/debit card?

1) Go to your settings page
2) Navigate to “Banks & Cards”
3) Select “Edit payment methods”
4) Select “add a New Account”
5) Choose “Debit” or “Credit” card
6) Add your card information. —

Once you add the card, you can set it as your primary funding source in the “Banks and Cards” section by selecting “Edit payment methods” and clicking on the desired funding source. This will ensure that the card is set as your default for any payments you send to other users.

How and why should I verify my bank account?

Once you add a bank account, we strongly recommend that you verify it before using it for anything. Why? If you’ve entered the wrong account info, one of the following can happen: Your bank will not be able to find your account and your transfer to bank will fail. -If the bank does not return your transfer to your bank, the funds may become lost. Lenny is not responsible for lost transfers to a bank as a result of incorrect bank credentials. You can verify your bank account in Lenny through our instant verification program.

I added my debit card and it says I’ll be charged 3%. Why?

Payments using debit cards from some small banks are subject to a 3% fee due to the high processing rates involved. We make sure to clearly notify you of this when you add cards falling into these categories so that you’re aware of it and don’t see an unexpected fee on your transactions.

Lenny says my bank account is invalid. What should I do?

When your bank gets marked “invalid” it either means your bank rejected the bank account or routing number you added, or the bank failed to complete a transfer because you’ve exceeded the allotted amount of electronic fund transfers for that account. Just add your account again before removing the currently stored information, then verify your account before you try transferring to your account.

Why can’t I add a bank account or card that’s already on file?

Bank accounts and credit/debit cards can only be linked to one Lenny account. This requirement is in place to help prevent fraudulent transactions and protect the financial security of our users. If you run into a situation where you’re unable to add a bank account or a credit/debit card because it’s already stored with another Lenny user, feel free to contact us and we can help.

Why was my card charged $0/$1 when I added it to Lenny?

Sometimes when people add a card to Lenny, they’ll see a small line item on their debit/credit card statement that the amount could be either $0 or $1. This is a temporary authorization that we run on your account to confirm that the details you entered are correct. It’s important to note that this is not an actual charge to your account. When we create this authorization, we immediately cancel it so that you can use this money again.

Card limit: Why can’t I add another card to my account?

Lenny places a limit on the number of accounts a user can add to their account for security measures. Users can have 3 cards in their account at any given time, once you add a card it counts against your limit for a 6 month rolling period.

Can I add a joint bank account?

Lenny does not allow multiple users to share the same bank account on their individual Lenny accounts. Lenny does allow users to trade ownership of a bank account on Lenny with explicit consent. Did you know that a group account is a great way for 2 people that want to use a joint bank account on Lenny? One person just has to create a group account as the owner and add the other person as a manager. Then, the Owner just has to attach the joint bank account to the group account. After that, Lenny users will be able to send the Group money.

Inviting Friends

How do I invite my friends?

You can invite users by sharing your personal referral link on Facebook, Twitter or via email. You can send a new user a payment, and they’ll receive a notification that contains a signup link in addition to the payment. Or you can invite a bunch of people at the same time. You can earn a $5 referral bonus each time one of your friends applies for a Lenny account using your personal promo code and is approved. Please note that it is not necessary for your friend to apply and/or be approved for a Lenny line of credit for both of you to earn the bonus.

Please read the terms and conditions of Lenny’s referral program.

How do I add or delete friends?

Adding friends is an important part of the Lenny experience. If you don’t add friends, how are you going to pay people? More importantly, how can they pay you? Well luckily for you, adding friends on Lenny is really easy! Log in to Lenny.com or open the app on your smartphone. Type the name of the user-name of the person you wish to add in the search bar. Once you’ve found the person you’re looking for select their name then add as a friend.

How did you access my contacts and why?

When you download our apps for the first time or attempt to use some features for the first time, you may be asked to grand Lenny permission to access your contacts. You can choose to deny this request, if you’d like. Accepting this request allows the app to view your device contacts. Contacts on your device that are current Lenny users will automatically be added to your Lenny friends list. You will have the option to invite contacts that are not current Lenny users if their email addresses are included in their contact information.


How do edit my account settings?

By editing your settings, you can change your profile (name, username, email, bio), phone number, cards, notifications, social networks, Touch ID, passcode, privacy, sharing, and Nearby Settings. Please note that you can only cancel your account on the web.

How do I unfreeze my account?

In an effort to provide the highest level of account security, we may freeze a user’s account due to flags being raised because of activity that seems to be against our User Agreement. For example, using Lenny for the sale or exchange of Bitcoins is a violation of our User Agreement. Anyone found to be using Lenny for this reason will have their account frozen, their payments reversed, and may be asked to provide documentation.

How do I keep my payment activity private?

We all know that privacy is a big concern with technology. There are a number of different settings that you can customize when it comes to sharing your payments with friends or not. You can set the privacy level for each individual payment, right from the payment screen. On the app, check the appropriate boxes and select who to share from the drop down. Note: payments will still be visible in your Lenny feed, so that you have a record of all transactions that you’ve been involved in. If you’ve set the privacy level to Private, you will not share it anywhere other than your own personal feed and if you do choose to share, we will always keep the payment amounts private.

How do I update my email address or phone number?

You can update your email address or phone number by following these steps. 1) Log in to Lenny. 2) click on Account 3) click edit next to your email address or phone number 4) verify the new email address or phone number note: when you change your primary email address or phone number it will affect what information you will use to log in with in the future. It will not, however, affect your password.

Can I add a PIN to my account?

If you want to keep your Lenny account safe, you can set a PIN code in your account as another layer of security. Once you add a PIN on the iphone app, it will need to be entered when you log in or open the app. To set your PIN, go to settings – passcode lock, then choose your 4-digit PIN. Once you do this, you’ll be prompted for you PIN every time you enter the app.

You keep reminding my friends and I to join Lenny. How do I stop this?

When you invite your friends to sign up for Lenny, we’ll send them an email containing a link they can use to sign up. If they don’t’ sign up after a period of time, we’ll send them a reminder of your invite. This option, along with other notifications and alerts can be turned off. Log in to Lenny. Navigate to account – notifications. Customize your settings by checking or unchecking the boxes then Save your changes.

How do I delete my Lenny account?

In order to cancel your Lenny account, please follow this link while using a desktop browser. We’re sorry to see you go!

Can I delete my Lenny account if I still owe money on my bill?

Unfortunately you cannot delete your Lenny account if you still owe money on your bill. Please pay the balance in full before taking steps to delete your Lenny account.