Zopa Rate Increase!

ToastLady

I've moved most of my money out of Zopa, other than pots. It's a shame, as I really like their system with pots, and don't know of another who does this with decent interest rates. I know you can have multiple savings accounts within Chase, but their rate is lower than many at the moment, although I do use them.
Transfers with Zopa have been pretty quick recently, as in instant, apart from one yesterday. Was getting ready to contact them this morning, but money had been transferred overnight. 

Qyburn

I think I may ditch Zopa for Chip once my notice pots become available. No point in the notice pots if there's an instant access that pays more than Zopa's 95 day. 

MichaelAP

Qyburn said:

I think I may ditch Zopa for Chip once my notice pots become available. No point in the notice pots if there's an instant access that pays more than Zopa's 95 day. 

I am in the same position. Today I will clear out the Primary pot and move it to Chip. The Boosted Pots will go the same once matured.
As you say; what is the point with a 95 day 3.7% when instant access 3.82% is available.
I have only been with Chip a week though so will be a little careful at first but with a large slice in Zopa it now has to be moved when available.

Doctor_Who

Zopa going all out for new funds!

The new rate for your Access pots will be: 3.52% AER* variable (3.46% gross**). This was applied to your account on 2/06/23. The old rate was: 3.46% AER* variable (3.40% gross**).

The new rate for your 7 Day Boosted pots will be: 3.56% AER* variable (3.50% gross**). This was applied to your account on 2/06/23. The old rate was: 3.50% AER* variable (3.44% gross**).

The new rate for your 31 Day Boosted pots will be: 3.66% AER* variable (3.60% gross**). This was applied to your account on 2/06/23. The old rate was: 3.60% AER* variable (3.54% gross**).

The new rate for your 95 Day Boosted pots will be: 3.76% AER* variable (3.69% gross**). This was applied to your account on 2/06/23. The old rate was: 3.70% AER* variable (3.63% gross**).

cymruchris

Doctor_Who said:

Zopa going all out for new funds!

The new rate for your Access pots will be: 3.52% AER* variable (3.46% gross**). This was applied to your account on 2/06/23. The old rate was: 3.46% AER* variable (3.40% gross**).

The new rate for your 7 Day Boosted pots will be: 3.56% AER* variable (3.50% gross**). This was applied to your account on 2/06/23. The old rate was: 3.50% AER* variable (3.44% gross**).

The new rate for your 31 Day Boosted pots will be: 3.66% AER* variable (3.60% gross**). This was applied to your account on 2/06/23. The old rate was: 3.60% AER* variable (3.54% gross**).

The new rate for your 95 Day Boosted pots will be: 3.76% AER* variable (3.69% gross**). This was applied to your account on 2/06/23. The old rate was: 3.70% AER* variable (3.63% gross**).

But there are still better instant access options out there. They aren't the market leaders they once were. (They probably have enough reserves on hand now so don't need to attract so many new savers)

Doctor_Who

cymruchris said:

But there are still better instant access options out there. They aren't the market leaders they once were. (They probably have enough reserves on hand now so don't need to attract so many new savers)

I was being sarcastic! Moved my money out of Zopa some time ago. I can't see the point of 0.06% rises when their accounts are still very uncompetitive. A shame since the app is very good.

CooperSF

3.82% with Chip still takes my money.

fwdrew

No thanks Zopa pretty poor rate rise yet again. Lots of customers must have left them.
Well done for making make me take the plunge and try open banking with Tandem.
Good rate with Tandem and app works fine.

jaypers

Zopa have annoyed me. Their 95 Day rate is still below some of the recent Easy Access rates. Strategy seems to be to trap people into a poor rate rather than looking after their customers. Already given notice on my pots and all of my savings with them will be going elsewhere and not going back. 

wiseonesomeofthetime

Mine will empty on June 19th. Last pot from my "ladder".