Issues with zopa?

Emma_brown96

Has anyone had any issues transferring money out of your savings back into your bank account at all? I’ve been a bit skeptical about Zopa since I’d never heard of them, but the interest rate seemed good so thought I’d try a £5 transfer to see how it went. The transfer in went okay, but I’ve tried transferring my money back out again and it’s now been 4 hours and there’s still no sign of my money. Online it says that it usually takes less than 20 minutes, but can take up to 2 hours. I’m obviously now over that time and slightly worried

ctdctd

Zopa are fine - been around as a P2P platform for ages but have only included savings accounts recently.

"Faster" payments can take up to the end of the next working day dependant on the sending and receiving banks so I wouldn't worry until tomorrow morning. It's possible the 'up to 2 hours' refers to it leaving Zopa and the delay might be with your bank.

Emma_brown96

ctdctd said:

Zopa are fine - been around as a P2P platform for ages but have only included savings accounts recently.

"Faster" payments can take up to the end of the next working day dependant on the sending and receiving banks so I wouldn't worry until tomorrow morning. It's possible the 'up to 2 hours' refers to it leaving Zopa and the delay might be with your bank.

Thought I’d check again this morning and see how it was looking. Been 12 hours now and still no sign of the money, and been trying to get through to a chat adviser for an hour 😩 definitely not the first experience I was hoping for 😂 

soulsaver

Are we still talking about £5?

CheekyMikey

I’ve had no problems transferring in or out of Zopa…

Emma_brown96

soulsaver said:

Are we still talking about £5?

Yeah it is just about the £5. I’m not fussed about the money, just about whether Zopa in general was a safe place to store money

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ctdctd said:

Zopa are fine - been around as a P2P platform for ages but have only included savings accounts recently.

Just for clarity Zopa are no longer a P2P entity. They are now focus on retail banking.

  ‘’After 16 years of delivering positive returns for our investors, we closed the P2P lending side of our business in 2021 so we could fully focus on Zopa Bank’’

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Emma_brown96 said:

soulsaver said:

Are we still talking about £5?

Yeah it is just about the £5. I’m not fussed about the money, just about whether Zopa in general was a safe place to store money

I have only yesterday loaded up one of the booster accounts, so your post is bad timing for me...

Emma_brown96

Thumbs_Up said:

Emma_brown96 said:

soulsaver said:

Are we still talking about £5?

Yeah it is just about the £5. I’m not fussed about the money, just about whether Zopa in general was a safe place to store money

I have only yesterday loaded up one of the booster accounts, so your post is bad timing for me...

I’m sure yours will be okay! All the reviews from everyone else have said they’re okay. I think I’ve just got really unlucky

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Emma_brown96 said:

Thumbs_Up said:

Emma_brown96 said:

soulsaver said:

Are we still talking about £5?

Yeah it is just about the £5. I’m not fussed about the money, just about whether Zopa in general was a safe place to store money

I have only yesterday loaded up one of the booster accounts, so your post is bad timing for me...

I’m sure yours will be okay! All the reviews from everyone else have said they’re okay. I think I’ve just got really unlucky

I put some money in and 20 minutes later took some out. So please to report no issues for me.

Patr100

Emma_brown96 said:

soulsaver said:

Are we still talking about £5?

Yeah it is just about the £5. I’m not fussed about the money, just about whether Zopa in general was a safe place to store money

It's covered by the FCA 85k guarantee, It's as safe as any other bank also covered by the same protection.