Zopa Current account

trickydicky14

flaneurs_lobster said:

trickydicky14 said:

flaneurs_lobster said:

soulsaver said:

trickydicky14 said:

flaneurs_lobster can I ask, did your one off 1.5K DD work out, have you had any cash back yet?

I've not had any payment yet. It's 'beta', so I'll give it a few days.

Expecting (?) payment of one-off £30 with interest due, which Zopa pay on monthly anniversary of opening account. So in my case 3rd, but since it's a Sunday probably next day.

Please update next week.

£30 added by Zopa to current account as "November Cashback" (along with 62p interest). Moved to RS (along with additional £270) as today is also month anniversary of opening same.

That's great news thanks for the update.

Willeth

Zuzi said:

Has anyone figured out what "month" is with regards to the Regular Saver linked to this account? I thought, today being 31st, I would send 300 pounds into it and then again tomorrow (because new month), but it seems that their definition is just a month from opening the pot? 

I find the answer from their FAQs unclear. Every date falls into one month or another, so the point about "29th or later..." could be much clearer in my opinion.

A monthly allowance period determines when your £300 monthly deposit allowance resets.  

This starts from the day you open a pot. For example, if you open a pot on 8th July, your £300 monthly deposit allowance will reset on the 8th of each month. If you open a pot on the 29th or later, and that date doesn’t fall in a particular month, your monthly allowance period will reset on the last day of that month.

The waffle about the 29th or later is for shorter months. What this seems to be saying is your month begins on the day you open a pot, and will reset on that same date a month later, or the last day if that date doesn't exist in that month. So in your case, opening it on October 31st, there is no November 31st, so it'll reset on the 30th instead.

What's not clear is whether in December you'd be back to resetting on the 31st or if you'd be resetting on the 30th from then on (and eventually the 28th forever once you'd passed Feb).

csw5780

jaypers said:

For those interested in the Zopa Regular Saver and are keen to be invited to open the Zopa Bank Account, which is needed to qualify for the RS, there is a waitlist you can sign up to. Not sure if this makes things any more likely or quicker, but maybe worth a go - https://www.zopa.com/bank-account

orange-juice

csw5780 said:

jaypers said:

For those interested in the Zopa Regular Saver and are keen to be invited to open the Zopa Bank Account, which is needed to qualify for the RS, there is a waitlist you can sign up to. Not sure if this makes things any more likely or quicker, but maybe worth a go - https://www.zopa.com/bank-account

Thanks. I am on the waitlist 🥳 Did they only recently set that form?

jaypers

How fast do payments into Zopa appear. Sent some money from Chase and was expecting it to be in immediately. Not the case! 

wmb194

jaypers said:

How fast do payments into Zopa appear. Sent some money from Chase and was expecting it to be in immediately. Not the case! 

So far from Lloyds it's been near to instant for me. Has Chase held it up?

flaneurs_lobster

jaypers said:

How fast do payments into Zopa appear. Sent some money from Chase and was expecting it to be in immediately. Not the case! 

Never had to wait more than a couple of minutes, usually within seconds.

pecunianonolet

Finally OH and I were offered the current account and regular saver after we added ourselves to the waiting list a week or so ago.

Currently using Moneybox to collect 4 x £2 from Natwest per DD so just requested to update the DD source on Moneybox and they say it can take up to 5 days to instate the DD. Once done I need to set a one time collection of £1500 and they will only take it on a Wednesday, probably the following week. It takes then time to clear before I can set it back to Natwest. Also running the risk not to manage to collect twice from Natwest in December and missing the bonus. Also, routinely always withdraw on the last day of the month my Moneybox balance and would need to break the cycle to return the £1500. Seems to be tedious and take ages with Moneybox.

Is there a way that works quicker and less complicated to bank the £30?

On the Reg Saver, have we figured out if opening late in the month has any benefit, like it has with most regular savers running on a calendar month basis? Wondering if opening it on 1st December (Sunday) would otherwise work to fund it and on the 1st of every other month moving forward when all the other reg savers get funded? Don't want a random date in the middle of the month I have to remember.

Lastly, they say you can only have up to £30 cashback per year. Do we know if this is calendar year or from the date of opening the current account? The former would allow to bank this again in January but doubt it that they are that generous and rather think they'll make me we wait until November 2025 (if the offer is still there then). 

PloughmansLunch

pecunianonolet said:

Finally OH and I were offered the current account and regular saver after we added ourselves to the waiting list a week or so ago.

Currently using Moneybox to collect 4 x £2 from Natwest per DD so just requested to update the DD source on Moneybox and they say it can take up to 5 days to instate the DD. Once done I need to set a one time collection of £1500 and they will only take it on a Wednesday, probably the following week. It takes then time to clear before I can set it back to Natwest. Also running the risk not to manage to collect twice from Natwest in December and missing the bonus. Also, routinely always withdraw on the last day of the month my Moneybox balance and would need to break the cycle to return the £1500. Seems to be tedious and take ages with Moneybox.

Is there a way that works quicker and less complicated to bank the £30?

<snip>

I used Plum, and I suppose you could use PayPal wallet funding too. Moneybox DD takes ages to set up, and not only needs the same length of time to switch back to the original account, changing the linked bank details seems to only be possible through a customer service request which adds additional time. 

flaneurs_lobster

PloughmansLunch said:

pecunianonolet said:

Finally OH and I were offered the current account and regular saver after we added ourselves to the waiting list a week or so ago.

Currently using Moneybox to collect 4 x £2 from Natwest per DD so just requested to update the DD source on Moneybox and they say it can take up to 5 days to instate the DD. Once done I need to set a one time collection of £1500 and they will only take it on a Wednesday, probably the following week. It takes then time to clear before I can set it back to Natwest. Also running the risk not to manage to collect twice from Natwest in December and missing the bonus. Also, routinely always withdraw on the last day of the month my Moneybox balance and would need to break the cycle to return the £1500. Seems to be tedious and take ages with Moneybox.

Is there a way that works quicker and less complicated to bank the £30?

<snip>

I used Plum, and I suppose you could use PayPal wallet funding too. Moneybox DD takes ages to set up, and not only needsPloug the same length of time to switch back to the original account, changing the linked bank details seems to only be possible through a customer service request which adds additional time. 

I used Moneybox, as @PloughmansLunch says it takes a while and the Moneybox weekly deposit cycle is tortuous but it all works and their app is one of the more pleasant to use. Also using their 5.12 Cash ISA and the 4.75 EA saver.

Can't be bothered with Plum, having had a fraught battle with them to get a £25 bonus for somethingorother.