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.