Linked bank accounts

Zopa_Trooper

So I opened a ZOPA Biscuit account in October, mainly for the savings rate and interest on the current account. When I opened the account, they asked me if I would like to "Link" my accounts, saying it makes transfers quicker and safer. I'd not done it before but thought, why not. Later when I looked at the list of accounts they had linked me to, there was Lloyds, who I do have an account with, but also several other banks that I have had accounts with in the past (I'm an habitual switcher) but were closed many years ago. I asked ZOPA to remove them but they said they were unable to do so.
Move forward to this Christmas period and I had to send money to my Lloyds current account and used the "linked" transfer. It doesn't give you details, just says your account is linked to Lloyds. So I transferred the money but it never arrives. Long story short, the account Zopa had me linked to was in fact one that was closed in October 2022. They hadn't even got me linked to my up to date Lloyds account. I'm now going through the process of trying to get my money back (5 days and counting). Both banks have assured me I will not lose the money but as it stands, I don't know exactly where it is, probably in some holding account.
I'm not really asking a question, just informing others of what happened. It does seem strange that once you link accounts you cant then unlink them, at least ZOPA say they can't, and also you have to jump through so many hoops nowadays to transfer money, step after step, but in this case it was just one click. I could understand it if I'd ever sent money to that account before but that isn't the case. Oh well, live and learn I guess.

flaneurs_lobster

Sounds like pretty strange behaviour from Zopa, you say "please link all my other bank accounts" and it goes away and links up a bunch of accounts, some or all of which were closed years ago?

It does all this without you giving your permission on a per account basis?

Not that I would ever want to set up a bunch of Open Banking connections between Zopa and my other accounts just because I can, I really cannot see that functionality in the app.

wmb194

flaneurs_lobster said:

Sounds like pretty strange behaviour from Zopa, you say "please link all my other bank accounts" and it goes away and links up a bunch of accounts, some or all of which were closed years ago?

It does all this without you giving your permission on a per account basis?

Not that I would ever want to set up a bunch of Open Banking connections between Zopa and my other accounts just because I can, I really cannot see that functionality in the app.

I've linked a couple of accounts to Zopa and yesterday for one I was asked to login and relink it because it was soon due to expire. This is the normal linking process with TrueLayer e.g., with YouGov where it's only authorised for 60 days or whatever it is.

In the screen where it lists the linked accounts they're shown in the form, '<bank name> ****1234.' The process is very specific and there should be no random linking to accounts you haven't told it to.

Any TrueLayer/Open Banking link to an account closed two years ago should be long expired.

Zopa_Trooper

Just an update on this. Still haven't got my money back but have received £200 compensation from Zopa and £40 from Lloyds. Sure I'll get it back one day.