The New Top Easy Access Savings Discussion Area

10_66

flaneurs_lobster said:

Looks like the "reset date" (Zopa's term) is the date of the boosted account being offered, so the 21st. My app shows I have to add £500 before 21 Nov to "lock in your 4.75% AER bonus rate" .

Zopa
I think it may the "monthiversary" of when you apply for the boost as mine's showing the 22nd.

Zaul22

These temporary boosts for new customers are really becoming quite the trend now. 

DodgerPot

Zopa Bank

I already had accounts with Zopa and a Regular Saver so this boosted saver is a nice addition, like others have found Chase rates are diving after the boost ends so this came at a good time. 

What I especially like in the Zopa App is seeing the daily interest totting up.
Payments in and out have for me been very fast. 
Haven’t found anything to dislike about this bank if this helps others thinking of opening for the boosted 4.75% rate 

flaneurs_lobster

10_66 said:

flaneurs_lobster said:

Looks like the "reset date" (Zopa's term) is the date of the boosted account being offered, so the 21st. My app shows I have to add £500 before 21 Nov to "lock in your 4.75% AER bonus rate" .

Zopa
I think it may the "monthiversary" of when you apply for the boost as mine's showing the 22nd.

Yes quite right, I sometimes forget that some people do not actually HAVE to have the account open and active from day 1.

s71hj

So presumably if I add this one to my 1st of every month routine for such things from 1/11 onwards I will be fine? 

refluxer

s71hj said:

So presumably if I add this one to my 1st of every month routine for such things from 1/11 onwards I will be fine? 

Yes, I think so. I applied the Zopa boost today and it (helpfully) says 'Add £500 to Biscuit by 22nd Nov to lock in your 4.75% AER bonus rate' so any time between now and then should be fine. I may also set up a standing order on the 1st of the month for similar reasons.

One key thing is to remember to add the £500 to the Biscuit account and not the Access Pot itself, which would be an easy mistake to make if one wasn't paying attention, I think.

FishInGlass

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

refluxer

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

There's currently no expiry date for the DD cashback offer - it's the 2% rate that's guaranteed for the first year, which is what you might have been thinking of ? 

"Earn 2% cashback on up to £1,500 of Direct Debits per year. And we’ll guarantee this rate for 12 months."

This means you'll get £30 for £1500+ of DDs. Council tax alone will suffice for many (most ?) these days, I would imagine ! 

flaneurs_lobster

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

Interesting point, I opened my current account on 4/10/24, set up a DD for £1500 and got the £30 cashback on 3/11. There's mention (in the online help) of the cashback rate being fixed/capped for a year when it resets, to what it doesn't say, same again?

I'm minded to try the one-off DD trick again but some indication that the offer still applies to my account would be nice.

winkowinko

flaneurs_lobster said:

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

Interesting point, I opened my current account on 4/10/24, set up a DD for £1500 and got the £30 cashback on 3/11. There's mention (in the online help) of the cashback rate being fixed/capped for a year when it resets, to what it doesn't say, same again?

I'm minded to try the one-off DD trick again but some indication that the offer still applies to my account would be nice.

Who did you make the £1500 direct debit payment to, yourself?