Zopa issues moving money

trickydicky14

Zopa problem moving money

My partner has set up an ISA with Zopa and has 30 days to fund. She moved a large amount of cash into her instant access Zopa account with the intentions to then move it into her new ISA but when she attempts to move it nothing happens. Why can’t she move this money internally?

GrubbyGirl_2

When you open an ISA you're asked for a linked account (usually a current account).  If you didn't make the Zopa savings account the linked account that could be why you can't transfer the money

ToastLady

In the T's & C's it states that all deposits must be made from a bank account we have linked to you and sent via Faster Payments only.
Suggests she moves money back to her linked account and then sends it back to her ISA account.

Rudyson

It will work the same when you withdraw as well, you won't be able to directly transfer the ISA to the Zopa Smartsaver a/c.

oldagetraveller1

Sorry to jump in on this, but it would appear there are technical issues at Zopa. I had confirmation of this, "via chat", earlier this morning.

I tried to make a withdrawal to the linked bank account and, in spite of the process apparently going through, no debits from the Zopa account and the transfer didn't go ahead.

This is an example of app. only accounts, particularly if a withdrawal is needed, not being 100% ideal.

Fortunately the funds are not desperately required.

Their "bot" is a bit flakey too and once through to an agent it becomes very frustrating trying to communicate with a, probably, ofshore centre.

Millyonare

Yes, Zopa (savings) appear to be in chaos today. They are becoming less and less reliable.

Millyonare

Recommend everyone take a screenshot / photo and written, timed note of exactly how much cash is in their Zopa account today.

It sounds like any transactions may not complete until tomorrow. Their systems appear to have crashed. Have they been hacked? Goodness knows how accurate the balances will be when / if it recovers tomorrow 

Something similar apparently happened a few months ago. Did anyone on here receive compensation when this chaos (no withdrawals) last happened?

Morocco_king

Have always got on well with the Zopa app but they are lagging behind on the rates so will be moving

YorksNick

Unable to move funds all day and their chat bots / agents are useless. Seems they have no information about what's happened or when it will be resolved. 

I've just raised a formal complaint and will be following up with the FCA in due course. 

wiseonesomeofthetime

https://twitter.com/Zopa/status/1678807458108538888/

francoghezzi

Zopa working fine, no one has lost a single penny. I have been with them for years and they are impeccable. No need to build drama for a technical issue that all the banks have had at least once (I remember the same problem with Coventry, Lloyds and the list goes on ...).