The New Top Easy Access Savings Discussion Area

flaneurs_lobster

winkowinko said:

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?

Indeed, a Moneybox EA savings account.

Further consideration on the repeat  - in the absence of any guidance from Zopa, prob best to wait until 12 mth anniversary of payout.

Once you hit the yearly Direct Debit cap, you won’t earn any more cashback until your allowance resets, which will happen each year on the date you opened your account. 

hoppy2

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

Bridlington1

winkowinko said:

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?

There's a list of DD ideas on this thread:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Feel free to use the above thread to discuss any of the items on that list or savings DDs more generally.

s71hj

Bridlington1 said:

winkowinko said:

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?

There's a list of DD ideas on this thread:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Feel free to use the above thread to discuss any of the items on that list or savings DDs more generally.

It's a fantastic resource I can testify. 

clairec666

hoppy2 said:

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

Yes, that sounds right. The app helpfully tells you how much you still need to deposit and when.

refluxer

hoppy2 said:

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

If you click on your 4.75% Access pots, it'll tell you the deadline for your next payment if you haven't yet qualified for the bonus for next month. If you have qualified, you can click on the right-arrow and get more information on the scheme.

I added £500 yesterday (21st), unlocked the bonus today (22nd) after updating the app and the deadline for qualifying next month was the 22nd Nov, which I met simply by funding the Access pot today with additional deposits via the Biscuit current account. 

dcs34

Zopa 4.75% Access Pot

Does anyone know the maximum daily transaction limit with Zopa - I think it's £10k per day, although their website has a few different limits depending on which page I look at. This is for online / in-app transfers from the savings pot, to an external current account (presumably via the Zopa current account).

The £10k limit would make using this account to fund my monthly regular saver / account minimum pay-in process difficult to do. At lease Ulster allows £20k/day instantaneously and without having to transfer via the linked current account. 

Rheumatoid

anyone got an issue with Zopa app bombing out when trying to view primary access pot? I can look at my CA and RS fine but the access pot causes it to crash.

clairec666

dcs34 said:

Zopa 4.75% Access Pot

Does anyone know the maximum daily transaction limit with Zopa - I think it's £10k per day, although their website has a few different limits depending on which page I look at. This is for online / in-app transfers from the savings pot, to an external current account (presumably via the Zopa current account).

The £10k limit would make using this account to fund my monthly regular saver / account minimum pay-in process difficult to do. At lease Ulster allows £20k/day instantaneously and without having to transfer via the linked current account. 

Not sure about daily limits, but you don't have to do transfer everything via the current account, you can go to "Withdraw" in the smart savings hub and transfer out from there.

Assuming from your post that you've got more that £10k circulating between accounts each month? If so Zopa's not ideal (you can't add nicknames for your linked accounts so it's hard to keep track of what's what) but if you do have to spread your payments over 2 days to keep within limits then at least you're getting a decent rate of interest for the extra day the money's sitting in there.

friolento

dcs34 said:

Zopa 4.75% Access Pot

Does anyone know the maximum daily transaction limit with Zopa - I think it's £10k per day, although their website has a few different limits depending on which page I look at. This is for online / in-app transfers from the savings pot, to an external current account (presumably via the Zopa current account).

The £10k limit would make using this account to fund my monthly regular saver / account minimum pay-in process difficult to do. At lease Ulster allows £20k/day instantaneously and without having to transfer via the linked current account. 

I think it's £10k per rolling 24 hr period, and also max £20k in every rolling 7 day period