Zopa Bonus Interest

NameWithheld

Just checked my Zopa cash ISA. The usual monthly interest was paid yesterday, but there is also a few pence added as "Bonus Interest".What's that about? Never had it before.

refluxer

The interest for Zopa's Smart ISA 'access' pot now contains a bonus element (currently 0.5%) - is it not that ?

NameWithheld

Don't think so. The amount is far too small for it to be that. Also I didn't get it in April

refluxer

Zopa are known for small interest discrepancy issues due to the way they calculate it and pay it - it's common for the total interest stated in their annual interest summaries to differ from the interest you actually receive by a few pence (the difference on my latest summary was 3p I think) - is it a matter of a few pence ?

NameWithheld

17 pence .

Growingold

NameWithheld said:

Just checked my Zopa cash ISA. The usual monthly interest was paid yesterday, but there is also a few pence added as "Bonus Interest".What's that about? Never had it before.

Logging in to ZOPA there is a message saying they're changing how they show bonus interest.  they will now be showing the interest earned as 'interest' and 'bonus interest'.  They say this is to make it easier to see how much you're earning from the bonus rate on your account.

Patr100

Mine was last paid 18th May. No bonus interest.
Is the reason that the bonus amount (for those who see it) is smaller than expected for a month
that it only was applied from a certain recent date so only covers a few days ?

slinger2

Patr100 said:

Mine was last paid 18th May. No bonus interest.
Is the reason that the bonus amount (for those who see it) is smaller than expected for a month
that it only was applied from a certain recent date so only covers a few days ?

That does seem the most likely interpretation, otherwise you'd think the bonus interest would be roughly 10% of the total interest. I suppose we'll find out in the next month or two.

MichaelAP

Well, I am still confused by the amount paid with Bonus Interest. Mine was a lot more than a few pence, it was over £2.

slinger2

MichaelAP said:

Well, I am still confused by the amount paid with Bonus Interest. Mine was a lot more than a few pence, it was over £2.

and the non-bonus interest?

10_66

I don’t understand why I haven’t received any bonus interest, when they put up a message to say it will show this. I tried calling them yesterday, was on hold for a very long time, then the call just cut off.