Zopa?

shereeki

Hi folks

I need to park £85k funds with relatively easy access and came across Zopa in some of the MSE recommended accounts. there's a 31 day notice 1.65% deal that caught my eye. 
So I hear its an 'app based' account which I've not done before... can anyone tell me of their experiences banking with Zopa?  - are they legit, any problems opening the account or withdrawing funds, any security issues, problems etc.
thanks 

Thumbs_Up

85k? That ship has sailed. Only 50k now my friend.

soulsaver

Yes legit.
FSCS deposit protection.
£50k max - check latest terms.

cymruchris

Yes they are legit. No I haven't had any problems. I've moved money in, then out, then back in again. 

VKE

I've put funds into 4 pots with them; no issues moving £ between pots or out of pots into other bank accounts ~ no complaints 

LeafGreen

soulsaver said:

Yes legit.
FSCS deposit protection.
£50k max - check latest terms.

can you link to info?… I haven’t heard anything about this.

Albermarle

grahamgoo said:

soulsaver said:

Yes legit.
FSCS deposit protection.
£50k max - check latest terms.

can you link to info?… I haven’t heard anything about this.

Maybe some confusion. Zopa have a £50K max in their easy access and notice accounts. 
The FCSC compensation figure of £85K for bank deposits has not changed.

LeafGreen

Ah, understood, thankyou

jimexbox

Does anyone know what happens when you transfer more money to a boosted pot that you've give notice on?

Can you access all the money once the notice period has been reached? Or access is split on the pot? 

soulsaver

jimexbox said:

Does anyone know what happens when you transfer more money to a boosted pot that you've give notice on?

Can you access all the money once the notice period has been reached? Or access is split on the pot? 

You can add to an existing boosted pot.
The notice is attaching to the 'pot', therefore all of the pot becomes accessible at notice end. 
Am I sure? Yes, I've done it.

wiseonesomeofthetime

I have moved a couple of my Chase ones in to Zopa today and converted them into Boosted 31 Pots.

Available on 13/08/2022, about a week after next BoE announcement, so will see what rates are doing before deciding what to do with them then.

Spreading my cash savings around providers so access should hopefully be there when needed. Unlikely four or five providers systems going down at the same time, or them playing silly beggars with transfers.