The New Top Easy Access Savings Discussion Area

exel1966

Looks like Ulster is going to take a back seat now. How things drop out of favour quickly in this dynamic market, but I wonder who's going to be bold enough to launch a straight 5% without a balance restriction (Cahoot)

refluxer

Steve_xx said:

It seems there is no sort code and account number for the regular saver. That makes me wonder how and where the interest on it will be shown. It becomes a bit of a problem if you need to fill in a self-assessment. Of course it's only a problem if the relevant information isn't shown clearly somewhere. Can anyone comment on this point please?

Zopa issue a statement for their Smart Saver account every month which includes deposit, withdrawal and interest details for all Access, Boosted and Fixed Term pots, as well as any Cash ISA pots you may hold. I don't have a Regular Saver or Current account but if they come under the Smart Saver umbrella then they may be listed there also - if not, then presumably they'll get their own statements.

They issue an Annual Statement of Interest every April which gives the total amount of interest paid across all the relevant accounts (so excluding ISAs) - this figure isn't broken down into individual pots but, as stated above, the total amount of interest received from Zopa will be sufficient for self-assessment purposes.

Steve_xx

Steve_xx said:

EthicsGradient said:

Steve_xx said:

The Zopa experience isn't easy.

I just opened the current account in order to get the 4.75% rate on the savings account. Managed to do that after chatting for some time. 

Then I decided I'd go for the regular saver. Managed to do that too. It's a bit complicated to get the funding to the regular saver. You can't fund it externally it seems. You can probably set up a regular payment from the saver account but I'm not entirely sure about that. However the £300 has to be deposited from the monthiversary from when you opened it as opposed to a calendar month. 

It seems there is no sort code and account number for the regular saver. That makes me wonder how and where the interest on it will be shown. It becomes a bit of a problem if you need to fill in a self-assessment. Of course it's only a problem if the relevant information isn't shown clearly somewhere. Can anyone comment on this point please?

Self-assessment does not need a sort code or account number at all. It doesn't even need you to name the accounts your interest comes from; you just give the total. You should keep a record of what the interest was on each account somewhere, in case HMRC want to check things, but there's no guidance on the details needed.

Yes I understand what you say. I was just wondering without an account number or sort code where the interest for this particular regular saver would be shown. I think another poster has answered that for me.

Thanks for that. I've had a saver pot for a few years with Zopa. I can't remember why! Naturally I've become interested in it today because of this new 4.75% offering. I think that now I've opened the current account that this is likely to appear separately in the statements, whereas the saver pot and the regular saver will be appearing together. That's fine as long as I know that and I can put a marker on my spreadsheet so that I'm not faffing around if I need to do a self-assessment.

friolento

Steve_xx said:

clairec666 said:

Steve_xx said:

The Zopa experience isn't easy.

I just opened the current account in order to get the 4.75% rate on the savings account. Managed to do that after chatting for some time. 

Then I decided I'd go for the regular saver. Managed to do that too. It's a bit complicated to get the funding to the regular saver. You can't fund it externally it seems. You can probably set up a regular payment from the saver account but I'm not entirely sure about that. However the £300 has to be deposited from the monthiversary from when you opened it as opposed to a calendar month. 

It seems there is no sort code and account number for the regular saver. That makes me wonder how and where the interest on it will be shown. It becomes a bit of a problem if you need to fill in a self-assessment. Of course it's only a problem if the relevant information isn't shown clearly somewhere. Can anyone comment on this point please?

Go into the Smart Savings Hub, click on "Manage" (top right), and you can find all statements and certificates of interest in there.

Thanks for that. That's super. Looking some more at it, I'm guessing that the interest will be lumped together with that of the 4.75%saver?

No lumping together will happen. Interest goes to the account / pot it relates to.

Bridlington1

@soulsaver

Coventry BS 4 Access Saver - 1 Year 4.3% to be launched tomorrow

Chip Easy Access Saver `tri' 4.37% (includes 1.63% bonus for 12 months)

BigBlueSky

I can't see how to access the boosted 4.75% on my existing Zopa account.  I've just transferred £500 in and back out incase that activiates it, but it hasn't.

Steve_xx

BigBlueSky said:

I can't see how to access the boosted 4.75% on my existing Zopa account.  I've just transferred £500 in and back out incase that activiates it, but it hasn't.

You might need to update the app before the option to upgrade your account appears. I had to do that.

mon3ysav3r

BigBlueSky said:

I can't see how to access the boosted 4.75% on my existing Zopa account.  I've just transferred £500 in and back out incase that activiates it, but it hasn't.

I also had to update my Zopa app on Android before the Jammie Dodger icon appeared bottom left on Savings!

allegro120

TisMeBill said:

Scarecrow25 said:

Zopa - I had the same problem, couldn't see the opt in option for the 4.75%.  You may need to update the app - I did, then the option was apparent on either the home screen or the smart savings hub - can't remember which

Updating the app worked for me

Updating didn't work for me because the app was up to date.  I deleted and reinstalled the app, that worked.

Bridlington1

Bridlington1 said:

@soulsaver

Coventry BS 4 Access Saver - 1 Year 4.3% to be launched tomorrow

Just thought I'd do a spot of casual link guessing, Ts&Cs plus application link for this account can be found below:

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/productfeatures.aspx?prodCode=4S1S&CTALinks=False