Zopa Boost Pots... seem a bit daft, am I missing something?

k_man

My Boost30 testing is already in progress, but will be a while before the first/second 95 is useful.

Hopefully everyone else sees this as too much hassle!

soulsaver

refluxer said:

soulsaver said:

Sillychuckie said:

Zopa states:

1. You can create any number of boosted pots. (there appears to be no limit, as far as I can tell).
2. You can give notice on your pot, at any time (even on the same day you create it, to start the timer ticking down immediately).
3. You can even continue to pay into a boosted pot, AFTER notice has been served on it.

 Zopa states this? Got a link?

Not sure about the others, but this page address point 1... "Smart Saver offers two different ways to save, through our Boosted and Access pots. You can open as many pots of either type as you wish."

Says nothing about unlimited pots. 

Sillychuckie

soulsaver said:
Says nothing about unlimited pots. 

True, but it says nothing about limited pots either.
I was summarising my own understanding, but, chose this wording as I wanted someone to 'jump on it' if I was incorrect.

In any case, I don't really need 'unlimited pots'.
The most I would need is 13 pots (if rolling weekly), half that if fortnightly, or 3 if rolling a 95 pot monthly.

I think I spotted on another forum somewhere that there is a limit once you hit 20.. but that is way more than I'll need anyway, so I probably wont be in a position to verify it.

refluxer

soulsaver said:

refluxer said: 

Not sure about the others, but this page address point 1... "Smart Saver offers two different ways to save, through our Boosted and Access pots. You can open as many pots of either type as you wish."

Says nothing about unlimited pots. 

"You can open as many pots of either type as you wish." 

soulsaver

If you say 'it states..' then it should be exactly that - not your own interpretation.

Now 'As many as you wish..' maybe pretty well the same as 'unlimited' but the other 2 statements made, there is nothing near that actually stated. 

I'd like to differentiate the providers view of 'stated' as acceptable, or being seen as being taking the p*** and in that event what action they may take.

Sillychuckie

soulsaver said:

it should be exactly that - not your own interpretation.

Well, this isn't a legal document. Its a forum post. *My* forum post!

I interpreted "You can open as many pots of either type as you wish" as a statement of unlimited pots, when writing my summary. I still think this is fairly reasonable, given the context of where we are, and as I said, I wanted to make this implication anyway to give others a reason to argue it.
In any case, please accept my humble apologies for any confusion or upset caused.

I am not a lawyer...  (clearly). 

SickGroove

I've jumped on board with this...

Put 15K into a 95 day boosted pot & immediately gave notice...
A week later, opened another 95 day boosted pot with £1 again giving immediate notice.
Will do the same for the next 11 weeks so I end up with a constant 7 day access at the highest rate possible.

Really impressed with Zopa, great the way they automatically increase rates for existing users and allow you to fund pots even if you've already given notice.

I'm lucky enough to have other savings fixed elsewhere, so just trying to obtain the best easy access rate and this seems a decent work around.

CheekyMikey

I guess this is of interest if you have nothing better to do and getting an extra £100 is really that important to you…too much faff for me.

wiseonesomeofthetime

I'm in @CheekyMikey corner.

Too much faff for me.