ISA TRANSFER to ZOPA - My experience if it helps anyone else

Growingold

I initiated a transfer to ZOPA on Sunday 6th April ( from YBS) to take advantage of their offer of a bonus rate for 3 months of 5.01%.  The money was in my ZOPA account yesterday morning Wednesday 9th April and the bonus interest rate immediately showed..

It was very easy to set the transfer up and I could follow the progress of the transfer through the APP.  I received notifications too.   The APP also gave me the chance to cancel the transfer before the stage REQUEST APPROVED.

I particularly like the ZOPA ISA as I can have pots within it and for me it will be a pity after 3 months when the bonus rate expires and reverts back to 4%.

RG2015

I requested a transfer from Virgin Money on Thursday 3 April at 9pm, but as yet the funds are not in Zopa and are still showing in VM. The transfer has been approved and the indicative value showing in the Zopa app includes 3 days of interest at the VM rate, from 1 April to 3 April. This interest amount is not showing in the VM app

I agree with you that the Zopa app has good progress status information. I am impressed that your transfer was done in 3 working days though. I transferred an ISA from VM to Zopa in February 2024 at that took 5 working days, but my current transfer in now at 6 w.d.

I am hoping that it will complete today and that VM add in the missing days’ interest.

RG2015

Just received an email from Zopa to say my transfer was complete. Also pleased to note that the full 9 days' interest was included in the amount transferred.

Full marks to Zopa and VM!

Oh, and all of my Smart ISA pots have been boosted to 5.01%.