Beware Zopa!

Rollinghome

masonic said:

As long as a payment reaches the account before the end of the day, you'll earn interest on it for that day, so delays of minutes or even hours don't usually have any material effect. On the rare occasions it is the next working day, then that costs you.

It's been years since I last experienced a faster payment fail to credit the destination account on the same day.

Millyonare said:

Just use a Santander saver -- the withdrawal arrives in (literally) 1 second. Seven days a week, morning, noon and night. This is the benchmark against which all other instant and easy savers must be judged. Anything more than 5 seconds to record a deposit or withdrawal is "slow" in today's modern hyperconnected world.

I've certainly had transfers to a Santander saver take as long as a few minutes. It really depends where the money is being sent from. Any transfer from another bank is at risk of delays, while an internal transfer between your accounts at most banks will be immediate.

An annoyance I find with Santander is that you can be told a transfer has been completed when it hasn't, and yet you aren't notified. You need to check that it has gone and phone if it hasn't.

It happened to me again this morning.  I called their security line, went through the standard song and dance, and asked whether it would have eventually gone through anyway, if I hadn't called.  It wouldn't.

That was to an account in my name that I've made payments to from Santander for a long time.  Santander can be fine for very small sums, but a serious pain for anything into five figures. Be prepared to lose at least an hour on the phone getting it through, and they don't offer a call-back.

MSE_JC

Hi all,

A representative of Zopa has reached out to us to address some of the issues raised in this thread. We're posting their response below on their behalf:

Hi all – it's Zopa here. We know people often check forums when researching financial products, that’s why we wanted to stop by and offer a bit of context for anyone coming across this thread. 

This post refers to an isolated technical issue that took place over two years ago, in May 2023. A small number of customers, including the person who originally posted, experienced a pay-out delay. We completely understand how stressful that must have been. At the time, we worked directly with everyone affected to resolve things as quickly as possible, and everything was sorted soon after. 

We respect everyone’s right to post their experiences — it’s part of what makes this forum so valuable. For anyone reading today, we want to share a few facts about Zopa Bank: 

• Zopa is a fully regulated UK bank. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Like all UK banks, eligible deposits are protected by the FSCS up to £85,000 per person. 

 

• We take service seriously. We’ve been recognised with over 10 British Bank Awards, hold a Trustpilot rating of 4.6/5, and have some of the highest customer satisfaction scores in the industry. 

 

• We offer human support via phone and live chat. You can speak to a real person via live chat or phone (Mon–Fri 8am–8pm, Sat & Sun 9am–5:30pm). During the 2023 issue, our team spoke to the customer multiple times to resolve their concerns.  

  

• We’re here to help. Our contact information is easy to find, and our support teams are well-staffed and closely monitored for quality. In addition to our regular office hours, we also provide out-of-hours emergency support open 24/7 to cover limited, time-critical operations and to support customers with acute vulnerability.  

Thanks for reading. We hope this helps provide reassurance and fuller context to anyone who comes across this thread. 

The Zopa Team 

saverkev

MSE_JC said:

Hi all,

A representative of Zopa has reached out to us to address some of the issues raised in this thread. We're posting their response below on their behalf:

Hi all – it's Zopa here. We know people often check forums when researching financial products, that’s why we wanted to stop by and offer a bit of context for anyone coming across this thread. 

This post refers to an isolated technical issue that took place over two years ago, in May 2023. A small number of customers, including the person who originally posted, experienced a pay-out delay. We completely understand how stressful that must have been. At the time, we worked directly with everyone affected to resolve things as quickly as possible, and everything was sorted soon after. 

We respect everyone’s right to post their experiences — it’s part of what makes this forum so valuable. For anyone reading today, we want to share a few facts about Zopa Bank: 

• Zopa is a fully regulated UK bank. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Like all UK banks, eligible deposits are protected by the FSCS up to £85,000 per person. 

 

• We take service seriously. We’ve been recognised with over 10 British Bank Awards, hold a Trustpilot rating of 4.6/5, and have some of the highest customer satisfaction scores in the industry. 

 

• We offer human support via phone and live chat. You can speak to a real person via live chat or phone (Mon–Fri 8am–8pm, Sat & Sun 9am–5:30pm). During the 2023 issue, our team spoke to the customer multiple times to resolve their concerns.  

  

• We’re here to help. Our contact information is easy to find, and our support teams are well-staffed and closely monitored for quality. In addition to our regular office hours, we also provide out-of-hours emergency support open 24/7 to cover limited, time-critical operations and to support customers with acute vulnerability.  

Thanks for reading. We hope this helps provide reassurance and fuller context to anyone who comes across this thread. 

The Zopa Team 

Wow
I'm glad to say I have always found Zopa quick and good 

But

2 Years to comment on a post!

IanManc

saverkev said:

MSE_JC said:

Hi all,

A representative of Zopa has reached out to us to address some of the issues raised in this thread. We're posting their response below on their behalf:

Hi all – it's Zopa here. We know people often check forums when researching financial products, that’s why we wanted to stop by and offer a bit of context for anyone coming across this thread. 

This post refers to an isolated technical issue that took place over two years ago, in May 2023. A small number of customers, including the person who originally posted, experienced a pay-out delay. We completely understand how stressful that must have been. At the time, we worked directly with everyone affected to resolve things as quickly as possible, and everything was sorted soon after. 

We respect everyone’s right to post their experiences — it’s part of what makes this forum so valuable. For anyone reading today, we want to share a few facts about Zopa Bank: 

• Zopa is a fully regulated UK bank. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Like all UK banks, eligible deposits are protected by the FSCS up to £85,000 per person. 

 

• We take service seriously. We’ve been recognised with over 10 British Bank Awards, hold a Trustpilot rating of 4.6/5, and have some of the highest customer satisfaction scores in the industry. 

 

• We offer human support via phone and live chat. You can speak to a real person via live chat or phone (Mon–Fri 8am–8pm, Sat & Sun 9am–5:30pm). During the 2023 issue, our team spoke to the customer multiple times to resolve their concerns.  

  

• We’re here to help. Our contact information is easy to find, and our support teams are well-staffed and closely monitored for quality. In addition to our regular office hours, we also provide out-of-hours emergency support open 24/7 to cover limited, time-critical operations and to support customers with acute vulnerability.  

Thanks for reading. We hope this helps provide reassurance and fuller context to anyone who comes across this thread. 

The Zopa Team 

Wow
I'm glad to say I have always found Zopa quick and good 

But

2 Years to comment on a post!

It's probably taken two years for someone to throw it in their face as evidence of something, so to ensure that it doesn't happen again Zopa has acted to explain and neutralise it.

wiseonesomeofthetime

saverkev said:

MSE_JC said:

Hi all,

A representative of Zopa has reached out to us to address some of the issues raised in this thread. We're posting their response below on their behalf:

Hi all – it's Zopa here. We know people often check forums when researching financial products, that’s why we wanted to stop by and offer a bit of context for anyone coming across this thread. 

This post refers to an isolated technical issue that took place over two years ago, in May 2023. A small number of customers, including the person who originally posted, experienced a pay-out delay. We completely understand how stressful that must have been. At the time, we worked directly with everyone affected to resolve things as quickly as possible, and everything was sorted soon after. 

We respect everyone’s right to post their experiences — it’s part of what makes this forum so valuable. For anyone reading today, we want to share a few facts about Zopa Bank: 

• Zopa is a fully regulated UK bank. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Like all UK banks, eligible deposits are protected by the FSCS up to £85,000 per person. 

 

• We take service seriously. We’ve been recognised with over 10 British Bank Awards, hold a Trustpilot rating of 4.6/5, and have some of the highest customer satisfaction scores in the industry. 

 

• We offer human support via phone and live chat. You can speak to a real person via live chat or phone (Mon–Fri 8am–8pm, Sat & Sun 9am–5:30pm). During the 2023 issue, our team spoke to the customer multiple times to resolve their concerns.  

  

• We’re here to help. Our contact information is easy to find, and our support teams are well-staffed and closely monitored for quality. In addition to our regular office hours, we also provide out-of-hours emergency support open 24/7 to cover limited, time-critical operations and to support customers with acute vulnerability.  

Thanks for reading. We hope this helps provide reassurance and fuller context to anyone who comes across this thread. 

The Zopa Team 

Wow
I'm glad to say I have always found Zopa quick and good 

But

2 Years to comment on a post!

Their Customer Service was the reason I left them and would never go back, so two years is no surprise to me.

gravel_2

saverkev said:

MSE_JC said:

Hi all,

A representative of Zopa has reached out to us to address some of the issues raised in this thread. We're posting their response below on their behalf:

Hi all – it's Zopa here. We know people often check forums when researching financial products, that’s why we wanted to stop by and offer a bit of context for anyone coming across this thread. 

This post refers to an isolated technical issue that took place over two years ago, in May 2023. A small number of customers, including the person who originally posted, experienced a pay-out delay. We completely understand how stressful that must have been. At the time, we worked directly with everyone affected to resolve things as quickly as possible, and everything was sorted soon after. 

We respect everyone’s right to post their experiences — it’s part of what makes this forum so valuable. For anyone reading today, we want to share a few facts about Zopa Bank: 

• Zopa is a fully regulated UK bank. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. Like all UK banks, eligible deposits are protected by the FSCS up to £85,000 per person. 

 

• We take service seriously. We’ve been recognised with over 10 British Bank Awards, hold a Trustpilot rating of 4.6/5, and have some of the highest customer satisfaction scores in the industry. 

 

• We offer human support via phone and live chat. You can speak to a real person via live chat or phone (Mon–Fri 8am–8pm, Sat & Sun 9am–5:30pm). During the 2023 issue, our team spoke to the customer multiple times to resolve their concerns.  

  

• We’re here to help. Our contact information is easy to find, and our support teams are well-staffed and closely monitored for quality. In addition to our regular office hours, we also provide out-of-hours emergency support open 24/7 to cover limited, time-critical operations and to support customers with acute vulnerability.  

Thanks for reading. We hope this helps provide reassurance and fuller context to anyone who comes across this thread. 

The Zopa Team 

Wow
I'm glad to say I have always found Zopa quick and good 

But

2 Years to comment on a post!

I suspect it's because MSE has pretty strong search authority and this thread, despite its age, comes up in Google searches such as "is zopa good", "should I use zopa" etc. Zopa can't really ask for the thread to be removed so they may as well post a comment inside it.