Zopa Current account

RG2015

friolento said:

RG2015 said:

,wmb194 said:

friolento said:

soulsaver said:

flaneurs_lobster said:

friolento said:

flaneurs_lobster said:

friolento said:

Has anyone's 1 year 2% cashback for DDs expired yet? Is there a DD cashback for year 2? My account anniversary is late November

Mine has (as in my CA has been open for more than a year). The cashback should have reset, might have to set up a £1.5k DD and just go for it. 

Did you get any communication from Zopa about it?

None at all, just my reading of a Zopa "article" on the subject

https://www.zopa.com/help/article/how-does-cashback-work

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. 

Mind you, it also says

The cashback rate is fixed for a year — starting from the day you open your account — and variable after that. Cashback is calculated daily and paid monthly.

I can't find any mention of what this "variable cashback rate" might be, in fact trying to find anything as conventional as Terms & Conditions or a list of Rates & Charges for the current account product has defeated me.

Reluctant to go through significant faff of setting up DD if return not known.

Pretty plain to see...
Biscuit by Zopa – Free to Open Bank Account with Cashback

Not a beep about the cashback on bills after the initial 12 months. 

It's surprisingly difficult (impossible?) to find the T&Cs for this account but the website repeatedly states that it's £30 per year. I opened the account almost exactly a year ago so I'm going to give it another go next week.

"Earn 2% cashback on Direct Debits, up to £1,500/year"

The ts&cs are in the manage then documents section on the app. It does appear to give the salient information.

I don’t even find “manage”, never mind “documents” in either the app or online banking………..

In the opening screen on the Zopa app, touch the section with your Zopa current account (or the right arrow). You will then see Manage in the top right corner. Well, I do at least. 

PS As far as I can see the Zopa online banking page only has the savings hub accounts not the current account.

wmb194

RG2015 said:

friolento said:

RG2015 said:

,wmb194 said:

friolento said:

soulsaver said:

flaneurs_lobster said:

friolento said:

flaneurs_lobster said:

friolento said:

Has anyone's 1 year 2% cashback for DDs expired yet? Is there a DD cashback for year 2? My account anniversary is late November

Mine has (as in my CA has been open for more than a year). The cashback should have reset, might have to set up a £1.5k DD and just go for it. 

Did you get any communication from Zopa about it?

None at all, just my reading of a Zopa "article" on the subject

https://www.zopa.com/help/article/how-does-cashback-work

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. 

Mind you, it also says

The cashback rate is fixed for a year — starting from the day you open your account — and variable after that. Cashback is calculated daily and paid monthly.

I can't find any mention of what this "variable cashback rate" might be, in fact trying to find anything as conventional as Terms & Conditions or a list of Rates & Charges for the current account product has defeated me.

Reluctant to go through significant faff of setting up DD if return not known.

Pretty plain to see...
Biscuit by Zopa – Free to Open Bank Account with Cashback

Not a beep about the cashback on bills after the initial 12 months. 

It's surprisingly difficult (impossible?) to find the T&Cs for this account but the website repeatedly states that it's £30 per year. I opened the account almost exactly a year ago so I'm going to give it another go next week.

"Earn 2% cashback on Direct Debits, up to £1,500/year"

The ts&cs are in the manage then documents section on the app. It does appear to give the salient information.

I don’t even find “manage”, never mind “documents” in either the app or online banking………..

In the opening screen on the Zopa app, touch the section with your Zopa current account (or the right arrow). You will then see Manage in the top right corner. Well, I do at least. 

PS As far as I can see the Zopa online banking page only has the savings hub accounts not the current account.

Thanks, I've found them, but they still don't help in clarifying the current offer:

"12. Cashback on direct debits We may sometimes put offers in place where you receive cashback on direct debits you set up to pay your bills. We will tell you about these offers, and how they work, separately.

If you choose to take up a cashback offer, any cashback we give you will be calculated on the balance of direct debits that are paid from your Zopa account (subject to any maximum annual direct debit limits we advise you of) and paid to you on a monthly basis."

flaneurs_lobster

flaneurs_lobster said:

goatfaced said:

Perhaps they are reserving the right to vary it after 12 months but haven't decided to vary it yet. Interested to see if another cycle of 1500 results in the same amount of cash back for people 😀 

I am using the regular saver at 7.1% but that's not fixed. They pay interest monthly so that's nice. 

I've set up a DD (w/ Moneybox) that'll take £1500 from the CA on 03/11. If last year's timings are repeated then the cashback will be paid at end Nov.

Msg from Moneybox, they've failed to set up internals/DD in time for this Monday's 1-off DD collection (the DD's been showing on Zopa for a week), will resubmit for collection on 10/11. 

ccluedo

flaneurs_lobster said:

flaneurs_lobster said:

goatfaced said:

Perhaps they are reserving the right to vary it after 12 months but haven't decided to vary it yet. Interested to see if another cycle of 1500 results in the same amount of cash back for people 😀 

I am using the regular saver at 7.1% but that's not fixed. They pay interest monthly so that's nice. 

I've set up a DD (w/ Moneybox) that'll take £1500 from the CA on 03/11. If last year's timings are repeated then the cashback will be paid at end Nov.

Msg from Moneybox, they've failed to set up internals/DD in time for this Monday's 1-off DD collection (the DD's been showing on Zopa for a week), will resubmit for collection on 10/11. 

Same here.
On a separate note, I transferred money from 4.75% account to biscuit just after midnight but unusually it didn't transfer until almost 4am! Wondering if that's what it's normally like on last day of the month when it falls on a weekend? 🤔 

PRAISETHESUN

My monthly Zopa anniversary is in December.... I've set up another new Moneybox DD, and so far its been accepted. Will see how it goes next month

flaneurs_lobster

ccluedo said:

flaneurs_lobster said:

flaneurs_lobster said:

goatfaced said:

Perhaps they are reserving the right to vary it after 12 months but haven't decided to vary it yet. Interested to see if another cycle of 1500 results in the same amount of cash back for people 😀 

I am using the regular saver at 7.1% but that's not fixed. They pay interest monthly so that's nice. 

I've set up a DD (w/ Moneybox) that'll take £1500 from the CA on 03/11. If last year's timings are repeated then the cashback will be paid at end Nov.

Msg from Moneybox, they've failed to set up internals/DD in time for this Monday's 1-off DD collection (the DD's been showing on Zopa for a week), will resubmit for collection on 10/11. 

Same here.
On a separate note, I transferred money from 4.75% account to biscuit just after midnight but unusually it didn't transfer until almost 4am! Wondering if that's what it's normally like on last day of the month when it falls on a weekend? 🤔 

I'm sure you're aware - the monthly £500 to be paid into the current account to preserve the 4.75% rate has to come from an external source.

ccluedo

flaneurs_lobster said:

ccluedo said:

flaneurs_lobster said:

flaneurs_lobster said:

goatfaced said:

Perhaps they are reserving the right to vary it after 12 months but haven't decided to vary it yet. Interested to see if another cycle of 1500 results in the same amount of cash back for people 😀 

I am using the regular saver at 7.1% but that's not fixed. They pay interest monthly so that's nice. 

I've set up a DD (w/ Moneybox) that'll take £1500 from the CA on 03/11. If last year's timings are repeated then the cashback will be paid at end Nov.

Msg from Moneybox, they've failed to set up internals/DD in time for this Monday's 1-off DD collection (the DD's been showing on Zopa for a week), will resubmit for collection on 10/11. 

Same here.
On a separate note, I transferred money from 4.75% account to biscuit just after midnight but unusually it didn't transfer until almost 4am! Wondering if that's what it's normally like on last day of the month when it falls on a weekend? 🤔 

I'm sure you're aware - the monthly £500 to be paid into the current account to preserve the 4.75% rate has to come from an external source.

Yes, tnx. I was trying to move funds in readiness for moving out to external RS's. 

Ch1ll1Phlakes

Hi all just as a heads up, the Zopa boosted interest rate of 4.75%, on pots linked to the Biscuit current account, is now NLA.

flaneurs_lobster

flaneurs_lobster said:

flaneurs_lobster said:

goatfaced said:

Perhaps they are reserving the right to vary it after 12 months but haven't decided to vary it yet. Interested to see if another cycle of 1500 results in the same amount of cash back for people 😀 

I am using the regular saver at 7.1% but that's not fixed. They pay interest monthly so that's nice. 

I've set up a DD (w/ Moneybox) that'll take £1500 from the CA on 03/11. If last year's timings are repeated then the cashback will be paid at end Nov.

Msg from Moneybox, they've failed to set up internals/DD in time for this Monday's 1-off DD collection (the DD's been showing on Zopa for a week), will resubmit for collection on 10/11. 

£1500 taken today from Zopa CA by Moneybox, if last year's timing is followed it'll be a week before those funds become available in MB, expect cashback end of Nov.

winkowinko

Besides Moneybox, is there any other way of paying yourself the cashback?

I don't have Moneybox, and I'm not sure I CBA to open one for the sake of £30. Are there any other simple alternatives?

Also, if I do decide to go down the Moneybox route, what type of account would I need. Would a Simple Saver suffice?