Zopa Savings

maxsteam

Perhaps HSBC are trying to do you a favour. I am sure that they think so. If you really want to go ahead, it's not difficult to open an account with a bank that has a rating between HSBC and Zopa, then use the three accounts to transfer the funds from the top-rated bank to the middle-rated bank and from there to Zopa, or you could write a cheque. Remember that there's a limit (£10k?) for faster payments.

I am unsure of Zopa's credit rating. I don't think that they make it into the list of the top 50 UK banks.

https://www.advratings.com/uk/credit-ratings

mikb

Writing a cheque might not solve it, HSBC rejected one of my cheques to another provider (not P2P, a rival high street savings building soc.) on the basis of "Signature does not match mandate". Oddly, when challenged on this, they were able to tell me the date when I provided the "sample signature" they were using, "at opening of the account on DD/MM/YYYY". The date was nothing to do with when the account was opened, and was purely made up. The same signature had quite happily been used on other cheques, even ones of the same order of magnitude.

melbury

Just to say I have now opened my Zopa 1 year fixed rate bond and made first transfer with no problems whatsoever.

It was all very straightforward with a pretty good rate of 1.36% and FSCS protection.