Lumio
Overview of Lumio
Lumio: Couples Finances, Made Easy
What is Lumio? Lumio is a mobile app designed to help couples manage their finances together. It allows couples to track their shared expenses, coordinate bill payments, and save money as a team. Lumio leverages secure Open Banking technology to connect to your bank accounts.
Key Features:
- Shared Expense Tracking: Connect your accounts, control what you share with your partner, and build financial clarity.
- Bill Coordination: Share any bill & expense and keep track of who paid for what.
- Wasteful Bill Detection: Identifies and helps cancel unwanted subscriptions.
- Spending Insights: See where every penny goes with personal & shared spending breakdowns by category, merchant & partner.
How to Use Lumio:
- Sign Up: Create a Lumio account.
- Connect Your Account: Securely link your bank accounts using Open Banking.
- Invite Your Partner: Share the financial journey with your significant other.
Why is Lumio Important?
Lumio eliminates the tediousness of spreadsheets, random mental math, and petty money tiffs. It provides a clear financial snapshot, fostering transparency and collaboration in relationships.
Where Can I Use Lumio?
Lumio is accessible on mobile devices (iOS and Android).
User Reviews:
- RoryRix1991: "Shared space gives us an instant snapshot of all our shared spending - includes joint account and any bills I pay for with my credit card. Connecting accounts is simple."
- PrittiX93: "Got us on top of all our shared expenses together. Smarter than a spreadsheet, Splitwise etc. Found all our bills and subscriptions for us much faster than other apps."
Security:
Lumio uses bank-grade 256-bit TLS encryption to safeguard your data. Your credentials are encrypted separately and never stored. Lumio is a read-only service, ensuring no transactions can occur without your pin-code or biometric ID.
FAQ:
- Does Lumio store bank login details? No, Lumio encrypts all credentials and separates them from personally identifiable information.
- Is Lumio regulated? Yes, Lumio is registered as a Payment Services Directive Agent of Moneyhub Financial Technology Ltd, regulated by the Financial Conduct Authority.
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