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What is Lump?
Lump lets you set up daily deposits to yourself.
This helps you ensure you always have money in your account and you don't misspend your funds before your next pay arrives.
What does Lump cost?
Lump is free for users that fund their Lump through an Interac e-Transfer.
Free
For users that fund their Lump through cards or mobile payments, there is a 5% Lump Fee.
5% Fee
10% Fee
For users that fund their Lump through Pay-Later services like Afterpay and Klarna, there is a 10% Lump Fee.
When do the deposits arrive?
Deposits are sent out via Interac e-Transfer before 9 am EST, every morning.
Can I cancel a Lump and get my money back?
Yes, you can cancel your Lump at any time and get your unused funding back without a penalty or fee penalty.
Daily deposits will stop automatically once you cancel your Lump.
You will receive your unused funds within 3-14 business days, depending on the method of funding you used.
How does Lump work?
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Decide how much you want to receive every day.
Currently the maximum daily amount is $300.
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Decide how many days you want to receive the daily deposits for.
Currently the maximum length for a Lump is 30 days.
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Decide when you want the deposits to start.
Lumps can start as early as the following day a Lump is funded.
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Tell us which Interac email address we send the daily deposits to.
You can set up a Lump for yourself or for someone else.
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Fund your Lump.
Fund your Lump using any of our funding methods.
Lumps are free when funding via e-Transfer, but Lump charges a 5% fee when using cards and mobile pay, and a 10% fee when using pay-later services like Klarna and Afterpay.
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And that's it.
Once your Lump is funded, your daily deposits will arrive automatically every morning before 9 am EST on your start date and will continue automatically for the duration of your Lump.
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