Zopa issues moving money

trickydicky14 Forumite Posts: 815
Ninth Anniversary 500 Posts Name Dropper

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?

I choose the rooms that I live in with care,
The windows are small and the walls almost bare,
There's only one bed and there's only one prayer;
I listen all night for your step on the stair.


  • GrubbyGirl_2
    GrubbyGirl_2 Forumite Posts: 451
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    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
    ToastLady Forumite Posts: 266
    Eighth Anniversary 100 Posts Name Dropper
    edited 7 July at 8:24AM
    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
    Rudyson Forumite Posts: 266
    Part of the Furniture 100 Posts Name Dropper
    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
    oldagetraveller1 Forumite Posts: 1,197
    1,000 Posts Third Anniversary Name Dropper Photogenic
    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
    Millyonare Forumite Posts: 512
    100 Posts First Anniversary
    Yes, Zopa (savings) appear to be in chaos today. They are becoming less and less reliable.
  • Millyonare
    Millyonare Forumite Posts: 512
    100 Posts First Anniversary
    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
    Morocco_king Forumite Posts: 1
    First Post
    Have always got on well with the Zopa app but they are lagging behind on the rates so will be moving
  • YorksNick
    YorksNick Forumite Posts: 15
    10 Posts Second Anniversary
    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. 
  • francoghezzi
    francoghezzi Forumite Posts: 63
    10 Posts Name Dropper
    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 ...). 
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