No – it is totally up to you how often you pay into your Lifetime ISA. Some of our customers like to pay monthly, some pay in once a year, and some pay in sporadically.
£4,000 is the maximum amount you can put in each tax year, if you wish. If you can't save £4,000 every year, it's no problem – you can contribute to your account anytime via top-ups of just £10 or more at your own pace. You also don't have to contribute every single year – if you choose to skip contributions for a year or so, this won't affect your account.
Things to note about paying in:
One off Top ups typically land either the same, or the next working day, depending on the time of day you made your payment. We use our payments partner GoCardless to facilitate this feature, so you may see their name on screen when being guided through the top-up process.
Your Tembo savings accounts don't come with a typical account number and sort code, this is because Tembo is not a bank, we are a savings provider.
If you want to make a deposit into your Tembo account you must do so by linking your bank account through the Tembo app, instead of making a payment directly from your bank account.
If you're having trouble adding money to your Tembo account through the Tembo app, try sending a smaller amount initially. If this works, then try sending a larger amount. Sometimes banks will automatically decline large payments to new payees as they view this as 'unusual' behaviour.