The New Top Easy Access Savings Discussion Area

mon3ysav3r

the_seer said:

Zopa 4.75% AER.
Smart Saver Access pots qualify for 1.5% bonus for 12 months for Zopa current account holders who deposit £500 per month.

Thanks for the Zopa heads up

Earn 4.75% AER bonus rate on easy access savings

Pay £500+ into your Biscuit bank account each month to unlock an exclusive 4.75% AER* (4.66% gross**) variable on your Access pot savings. Combining our standard 3.25% AER variable with a 1.50% AER fixed bonus, it's yours for up to 12 months.

Miss a month? Your rate drops to 3.25% AER variable, but you can unlock the bonus again the next month. Withdraw anytime, so your money stays flexible while it earns more.

https://www.zopa.com/savings/easy-access-savings 

flaneurs_lobster

mon3ysav3r said:

the_seer said:

Zopa 4.75% AER.
Smart Saver Access pots qualify for 1.5% bonus for 12 months for Zopa current account holders who deposit £500 per month.

Thanks for the Zopa heads up

Earn 4.75% AER bonus rate on easy access savings

Pay £500+ into your Biscuit bank account each month to unlock an exclusive 4.75% AER* (4.66% gross**) variable on your Access pot savings. Combining our standard 3.25% AER variable with a 1.50% AER fixed bonus, it's yours for up to 12 months.

Miss a month? Your rate drops to 3.25% AER variable, but you can unlock the bonus again the next month. Withdraw anytime, so your money stays flexible while it earns more.

https://www.zopa.com/savings/easy-access-savings 

That's an interesting/odd hybrid, someone will be along soon to complain that this is clearly a Regular Saver product and needs to be discussed at The Other Place.

Personally if I had (another) £500 a month to save it would be going into a "proper" RS earning more than 4.75%.

BlackthornU

It applies if your current account is called Biscuit or just Zopa bank account. Basically as long as you keep paying in at least £500 into the current account each month then the rate on the savings account is boosted to 4.75% variable. Old and new customers, I have an old Zopa current account for the DD cashback and just qualified for the boosted rate. Allows you first month anyway - then tells you you need to deposit min £500 monthly (account month not calendar month).

You can take money out of the current ac or the savings account without impact on the bonus rate.

Rheumatoid

So can you just pay £500 in and out of the current every month and just pay 80k into the access pot with the bonus and leave it there?

tg99

I have a Zopa current account + easy access saver + regular saver but can’t see in app anywhere in the smart savings hub the option to opt in to the bonus. Is the Zopa current account the same as the biscuit current account, I’d previously never heard of the biscuit account?

janusd

tg99 said:

I have a Zopa current account + easy access saver + regular saver but can’t see in app anywhere in the smart savings hub the option to opt in to the bonus. Is the Zopa current account the same as the biscuit current account, I’d previously never heard of the biscuit account?

I think if you click on Smart Saver and scroll down, there is a box about the 4.75% on the left side, press that and you can enable the boost on the existing access pots.

I did read the terms & conditions, but never thought to check whether the £500 to the current account has to be new money, or whether it can be moved there from an access pot and then moved back.. of course, having approved the boost, I can no longer see the t&c (or at least not obviously).

flaneurs_lobster

janusd said:

.. of course, having approved the boost, I can no longer see the t&c (or at least not obviously).

...often a problem with Zopa, their T&Cs for particular offers/boosts are far from easy to find. 

EDIT: the terms and Summary Box via the links in the Zopa app

https://www.datocms-assets.com/23873/1760611661-challenge-summary-box-pdf-version.pdf

https://www.zopa.com/bonus-rate-savings-challenge-terms

Does seem that the £500/month can indeed be hokey-kokey'd to maintain the rate.

Rheumatoid

My pots seem to have been boosted anyway without me opting in. I just need to pay in 500 to current by 21 November 21 to maintain it

janusd

flaneurs_lobster said:

janusd said:

.. of course, having approved the boost, I can no longer see the t&c (or at least not obviously).

...often a problem with Zopa, their T&Cs for particular offers/boosts are far from easy to find. 

EDIT: the terms and Summary Box via the links in the Zopa app

https://www.datocms-assets.com/23873/1760611661-challenge-summary-box-pdf-version.pdf

https://www.zopa.com/bonus-rate-savings-challenge-terms

many thanks for that - it seems it has to be new money (internal transfers don't count), so good to know for future reference.

flaneurs_lobster

janusd said:

flaneurs_lobster said:

janusd said:

.. of course, having approved the boost, I can no longer see the t&c (or at least not obviously).

...often a problem with Zopa, their T&Cs for particular offers/boosts are far from easy to find. 

EDIT: the terms and Summary Box via the links in the Zopa app

https://www.datocms-assets.com/23873/1760611661-challenge-summary-box-pdf-version.pdf

https://www.zopa.com/bonus-rate-savings-challenge-terms

many thanks for that - it seems it has to be new money (internal transfers don't count), so good to know for future reference.

Easy enough if you already have the 7.1% RS, just move £500 into the CA, move £300 to the RS then move £200 to wherever you like (maybe even the 4.75% Pot).