Zopa Biscuit Account - Direct Debits

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82010320#Comment_82010320

I've not found any issues with Zopa but not my main account. It most likely would be if i had an overdraft.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82010320#Comment_82010320

No fees. The only "issue" I've had with Zopa is their insistence on calling their current account "Biscuit". App seems to work well and I've never had any problems with it. Withdrawals have been immediate.

The_Groat_Counter

https://forums.moneysavingexpert.com/discussion/comment/82010320#Comment_82010320

Specifically regarding this question…

"Is the cashback for indefinite period??"



The answer is no, at least not for the 'boosted' 4% cashback rate - this is a limited-time promotional offer for new current account customers, and on the 'Biscuit by Zopa' landling page there's this in the not-so-small print (my bolding):

You'll earn 4% cashback on up to £2,000 of Direct Debits a year – and the rate's yours for a full 12 months.

Further down the page there's a further reference to the 4% DD cashback with this comment:

Lock it in now and the rate is yours for the full year.

They don't explicitly state that after a year the cashback will revert to the 2% DD cashback (max £30 a year) which is what it was before this 'limited-time' offer… so perhaps they're leaving their options open.

(There was an earlier cashback rate of 3% up to a maximum of £90 a year, but that only applies for older customers who signed up when that was on offer.)

adindaspantai

Thanks It seems to me it is just a teasing rate. Moving utilities DD is not straight forward. I think drop to 2% after one year is still a good rate but if there is no clear statement this will be the case.

I am rather reluctant to move my utilities DD.I have read somewhere that we could still get maximum cashback by DD using moneybox as the source of DD is it still working ??

superM

I think Zopa has cashback policy. Is it now 2% on £125 max DD a month so £2.50 each month. You cannot setup a DD for £1500 and claim £30?

qsk

https://forums.moneysavingexpert.com/discussion/comment/82015038#Comment_82015038

I don't think anyone is moving utility DD. If you go through the thread, the most popular word is "Moneybox". I guess you could use Paypal DD for the same effect.

adindaspantai

So far I have not used the Zopa DD cashback as I am still familiarising myself with how to approach it. I understand from the current information there is a 2% on £125 max DD a month so £2.50 each month.

I do not want to move my utility bills to Zopa as to me it is too risky. Could I just used the Money box to pull £125 from Zopa biscuit current account and earn £2.50 a month.

In addition to direct debit, it there a way to get cashback from regular use of Zopa debit card for purchase?

TIA

friolento

https://forums.moneysavingexpert.com/discussion/comment/82142485#Comment_82142485

Different people have different Zopa DD cashback offers. I used to have 2% on up to £1,500, which I could do with one annual DD and which made me £30. I did this for 2 years. They are now offering me 3% on up to £150 a month, adding up to £54 a year, so I have switched to this. You might have a different offer.

There is also a "3% cashback on eating out" in my Zopa app. This must be via the Zopa debit card. I am not using that one as I already have the same deal on a Santander credit card and I prefer paying by credit card.

adindaspantai

https://forums.moneysavingexpert.com/discussion/comment/82142727#Comment_82142727

Is there a way to earn cashback via groceries rather than specific eating out, like the one offered by Chase debit card in the past, not the current Chase 2% offer which require a condition of maintaining minimum saving of £1,000 at all time ?

friolento

I don't think there is with Zopa. There are credit cards which pay you cashback on all purchases, though most of those are max 0.5% for the average spender.

Depending on where you shop, gift cards might be of interest. For example, 2.5% at Waitrose, 1.7% at M&S, 2% Sainsburys, 2.6% Tescos. More than double these discounts if you can be a member of an employer discount scheme, e.g. NHS Blue Light. I find these gift cards cumbersome for every day use but good value for money on larger purchases.