Online savings ZOPA

where_are_we

£1 in 14 x 95 day pots set up each Monday and giving notice immediately seems to be a reasonable plan.

Zopa have been fairly quick to up their rates in the past but if something better comes up you can move your main pot of money out within a week once you have your 95 day ladder set up and then, get back in if Zopa gets competitive again.

ashby6567

where_are_we said:

£1 in 14 x 95 day pots set up each Monday and giving notice immediately seems to be a reasonable plan.

Zopa have been fairly quick to up their rates in the past but if something better comes up you can move your main pot of money out within a week once you have your 95 day ladder set up and then, get back in if Zopa gets competitive again.

No no no. That's a reasonable plan to mess it up!

Qyburn

ashby6567 said:

Ah right the penny has dropped, thanks for your input, I did think it was too good to be true. pot 2 would generate approx £2.82 initially then?

The point about the "ladder" is that once set up you can have all your money earning that 3.26% 95 day rate, but still have it accessible in no more than a week's time.

The downside is the faff about having to keep moving it from the pot that's just become available and therefore lower interest, into one of the not yet available pots. That's why I decided on a monthly ladder as I don't need access any more often.

flobbalobbalob

Coinciding with the latest Zopa App update, you can no longer move money to a pot under notice. 

Tom_Hendo

They should have given notice for this, I think it's a bit backhanded.

Fair ruling, just gonna remove all my money 

wiseonesomeofthetime

Tom_Hendo said:

They should have given notice for this, I think it's a bit backhanded.

Fair ruling, just gonna remove all my money 

Just not very quickly, I guess

trickydicky14

flobbalobbalob said:

Coinciding with the latest Zopa App update, you can no longer move money to a pot under notice. 

I've just had a go and manage to move cash into a pot under notice, do you think this will change when my app updates?

Band7

trickydicky14 said:

flobbalobbalob said:

Coinciding with the latest Zopa App update, you can no longer move money to a pot under notice. 

I've just had a go and manage to move cash into a pot under notice, do you think this will change when my app updates?

Almost certainly will, yes

Tom_Hendo

wiseonesomeofthetime said:

Tom_Hendo said:

They should have given notice for this, I think it's a bit backhanded.

Fair ruling, just gonna remove all my money 

Just not very quickly, I guess

I've luckily had the ladder set up for months, so other than £0.01 in 10 accounts, all my money is available in 4 days time! 

I mean for instant access, it is still very competitive so for those not playing the ladder it is still viable for now. 

Band7

Tom_Hendo said:

wiseonesomeofthetime said:

Tom_Hendo said:

They should have given notice for this, I think it's a bit backhanded.

Fair ruling, just gonna remove all my money 

Just not very quickly, I guess

I've luckily had the ladder set up for months, so other than £0.01 in 10 accounts, all my money is available in 4 days time! 

I mean for instant access, it is still very competitive so for those not playing the ladder it is still viable for now. 

If the ladder still works for you now,  it won't do so for much longer, as they are no longer allowing deposits into boosted accounts.