Zopa Interest rise vs Chip

Qyburn

I had already decided to ditch Zopa in favour of Chip, as and when the boosted pots came available. This latest interest rise now puts 95 day pots a bit higher than Chip's flat rate. So maybe a stay of execution for Zopa, or will we get a rate rise from Chip?

Stargunner

Chip is instant access. If you are happy with 95 days notice, you can get far better rates elsewhere than what Zopa are offering.

Doctor_Who

I'll just get my crystal ball 

In the current interest rate climate I wouldn't be 'fixing' for 95 days if there's an EA account paying only slightly less. Maybe give it a few weeks to see how things settle down.

MrFrugalFever

Tandem 4.1% and easy access. Kroo 4.1% and instant access.

I like Zopa so I still use it for little pots of stuff like Christmas and days out but the big stuff…. I rate chase.

fotow

I actually rate Tandem over Zopa now.
I avoided open banking accounts to start as was a little nervous of using it now I now prefer using it.   
Tandem has a simple uncluttered app and they are pretty quick with transfers normally around 10 mins for me. Chip app seemed too cluttered for me.

thefrank

Zopa all my life, instant transfers to my bank account and I don t see a point to change just for a 0.1%. App is absolutely amazing and what matters most am feeling safe judging about the projects Zopa have in store for the near future. 

Qyburn

fotow said:

I actually rate Tandem to Zopa now.

Does Tandem allow you to link multiple bank accounts? I like that with Zopa, I can transfer in by FP from savings account, and withdraw out into current account. Whereas Chip only links to one which I think has to be a current account.

ToastLady

Qyburn said:

fotow said:

I actually rate Tandem to Zopa now.

Does Tandem allow you to link multiple bank accounts? I like that with Zopa, I can transfer in by FP from savings account, and withdraw out into current account. Whereas Chip only links to one which I think has to be a current account.

Yes Tandem allows multiple nominated accounts.

ToastLady

MrFrugalFever said:

Tandem 4.1% and easy access. Kroo 4.1% and instant access.

I like Zopa so I still use it for little pots of stuff like Christmas and days out but the big stuff…. I rate chase.

With you on Zopa, keeping little pots going for Reg Saver. Big pot opens 10th July, suspect it will be going to Tandem or Chip, but things could change by then. I like Tandem and Chase too and just getting used to Chip. 

Qyburn

I like the Zopa app as well. In its favour - links to multiple banks, passcode security in addition to device security. 

Chip, two counts against it - appears to have no security at all, the app goes straight into the account, and it only links to a single bank.

Tandem - multiple banks, but insists on using fingerprint login which (a) is not brilliant on my tablet and (b) doesn't work at all if you do manual work and scuff your fingers a bit.

Doctor_Who

Qyburn said:

Chip, two counts against it - appears to have no security at all, the app goes straight into the account, and it only links to a single bank.

Profile>Secure login, fingerprint works fine for me on Android