Zopa Biscuit Account - Direct Debits

matte134

I currently have a Zopa credit card and a Zopa car finance loan and I saw that they were bringing out a current account that you can earn cashback with on direct debits. 

I thought I'd open a Zopa current account and use that to pay all my direct debits each month to earn the cashback, my biggest one being my car loan, with Zopa. However I have just found out that you are unable to pay Zopa products, such as credit cards and loans via direct debit from the Zopa bank account, which seems very counter intuitive  to me. Has anyone else had this issue? 

surreysaver

Open a Moneybox account and transfer money to it via direct debit. That's what the rest of us have done 

PRAISETHESUN

matte134 said:

I currently have a Zopa credit card and a Zopa car finance loan and I saw that they were bringing out a current account that you can earn cashback with on direct debits. 

I thought I'd open a Zopa current account and use that to pay all my direct debits each month to earn the cashback, my biggest one being my car loan, with Zopa. However I have just found out that you are unable to pay Zopa products, such as credit cards and loans via direct debit from the Zopa bank account, which seems very counter intuitive  to me. Has anyone else had this issue? 

I'm not suprised that Zopa hasn't accounted for this - they only exited beta fairly recently.

Given the DD cashback cap is limited to £30/year rather than any sort of monthly cap, I'd also reccomend a single £1500 DD to meet the criteria. Moneybox worked well for me. 

granta

Thanks for the reminder re: annual cap. I was about to start moving my DDs from Santander 123 Lite following its forced closure but will rethink my plans as I've already had the £30 via MoneyBox DD!

nonexpert566

£30/year? What a joke. I wish I looked it up before moving a great deal of my DDs to Biscuit. Oh, well.

By the way, I was able to push Zopa to move my Zopa loan DDs to Biscuit simply by asking them to do so via their support chat.

jeremygiles

surreysaver said:

Open a Moneybox account and transfer money to it via direct debit. That's what the rest of us have done 

How long did it take to receive your cashback from Zopa? £1500 left my account by Direct Debit for Moneybox on 26 Aug, still waiting for cashback to appear in Zopa. Thanks!

jeremygiles

PRAISETHESUN said:

matte134 said:

I currently have a Zopa credit card and a Zopa car finance loan and I saw that they were bringing out a current account that you can earn cashback with on direct debits. 

I thought I'd open a Zopa current account and use that to pay all my direct debits each month to earn the cashback, my biggest one being my car loan, with Zopa. However I have just found out that you are unable to pay Zopa products, such as credit cards and loans via direct debit from the Zopa bank account, which seems very counter intuitive  to me. Has anyone else had this issue? 

I'm not suprised that Zopa hasn't accounted for this - they only exited beta fairly recently.

Given the DD cashback cap is limited to £30/year rather than any sort of monthly cap, I'd also reccomend a single £1500 DD to meet the criteria. Moneybox worked well for me.

How long did it take to receive your cashback from Zopa? £1500 left my account by Direct Debit for Moneybox on 26 Aug, still waiting for cashback to appear in Zopa. Thanks!

PRAISETHESUN

jeremygiles said:

PRAISETHESUN said:

matte134 said:

I currently have a Zopa credit card and a Zopa car finance loan and I saw that they were bringing out a current account that you can earn cashback with on direct debits. 

I thought I'd open a Zopa current account and use that to pay all my direct debits each month to earn the cashback, my biggest one being my car loan, with Zopa. However I have just found out that you are unable to pay Zopa products, such as credit cards and loans via direct debit from the Zopa bank account, which seems very counter intuitive  to me. Has anyone else had this issue? 

I'm not suprised that Zopa hasn't accounted for this - they only exited beta fairly recently.

Given the DD cashback cap is limited to £30/year rather than any sort of monthly cap, I'd also reccomend a single £1500 DD to meet the criteria. Moneybox worked well for me.

How long did it take to receive your cashback from Zopa? £1500 left my account by Direct Debit for Moneybox on 26 Aug, still waiting for cashback to appear in Zopa. Thanks!

Zopa work on an monthly cycle based on the date you first opened your account. Mine was paid at the start of the following month after the DD was taken.

NotWhereIWantToBe

Can anyone tell me - does it matter what moneybox account you open in order to pull a direct debit from it to Zopa please ?
I am not keen to open an ISA just now or to keep £500 in it to keep a relatively low interest rate.
Any advice appreciated :-) 

Bridlington1

NotWhereIWantToBe said:

Can anyone tell me - does it matter what moneybox account you open in order to pull a direct debit from it to Zopa please ?
I am not keen to open an ISA just now or to keep £500 in it to keep a relatively low interest rate.
Any advice appreciated :-) 

It doesn't matter which account you use, many used their Simple Saver for the Zopa DD.