Zopa?

jimexbox

wiseonesomeofthetime said:

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.

Same as myself. To zopa's credit, they add any interest rise to existing pots, without you having to give notice. So the 95 day will benefit from any rise in August. 

shereeki

soulsaver said:

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.

Wow really?  I never heard of this before! 

shereeki

thanks everyone for your comments, its been informative.

I've applied for an account and already received account confirmation ....but it didn't ask for any ID or personal docs that other banks would have requested-  is this normal and why don't they (I shouldn't really complain for easy processes  but seems too easy and makes me wonder how secure it all is!)

jimexbox

shereeki said:

thanks everyone for your comments, its been informative.

I've applied for an account and already received account confirmation ....but it didn't ask for any ID or personal docs that other banks would have requested-  is this normal and why don't they (I shouldn't really complain for easy processes  but seems too easy and makes me wonder how secure it all is!)

AFAIK it's because it's a savings account only, without a current account. So you can't spend directly from it. No card facility, DD or overdraft etc. 

k_man

soulsaver said:

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.

Just to clarify, you can add to a boosted pot within notice?
So, for instance in the last 7 days of a 95 day notice, it could be used as a 7 day notice, but at 1.85%.
Could this then be used in a 'ladder', ready for when new funds are available to save?

jimexbox

k_man said:

soulsaver said:

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.

Just to clarify, you can add to a boosted pot within notice?
So, for instance in the last 7 days of a 95 day notice, it could be used as a 7 day notice, but at 1.85%.
Could this then be used in a 'ladder', ready for when new funds are available to save?

I've just added to two existing notice pots, which I've already given notice on. It did warn me that I couldn't access the funds until notice was given on the pots.

On checking the pots all funds will be available from my original date when I give notice. 

Albermarle

shereeki said:

thanks everyone for your comments, its been informative.

I've applied for an account and already received account confirmation ....but it didn't ask for any ID or personal docs that other banks would have requested-  is this normal and why don't they (I shouldn't really complain for easy processes  but seems too easy and makes me wonder how secure it all is!)

It can be a bit random. We see comments on here complaining about this or that bank, requesting detailed ID info, even a signature from a solicitor or GP . Then others reply that they have had no problems.

k_man

jimexbox said:

k_man said:

soulsaver said:

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.

Just to clarify, you can add to a boosted pot within notice?
So, for instance in the last 7 days of a 95 day notice, it could be used as a 7 day notice, but at 1.85%.
Could this then be used in a 'ladder', ready for when new funds are available to save?

I've just added to two existing notice pots, which I've already given notice on. It did warn me that I couldn't access the funds until notice was given on the pots.

On checking the pots all funds will be available from my original date when I give notice. 

Is there a limit on the number of boosted pots at each level?
I may have a (probably flawed) plan.

soulsaver

k_man said:

jimexbox said:

k_man said:

soulsaver said:

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.

Just to clarify, you can add to a boosted pot within notice?
So, for instance in the last 7 days of a 95 day notice, it could be used as a 7 day notice, but at 1.85%.
Could this then be used in a 'ladder', ready for when new funds are available to save?

I've just added to two existing notice pots, which I've already given notice on. It did warn me that I couldn't access the funds until notice was given on the pots.

On checking the pots all funds will be available from my original date when I give notice. 

Is there a limit on the number of boosted pots at each level?
I may have a (probably flawed) plan.

I believe 20 pots max over all - total deposits to remain within £50k* for new applicants, £85k* for early birds.
*Plus Zopa Smart Saver interest, until you w/d it..when you can't put it back to take you over....

k_man

Time for some testing