Zopa transfer issue, help!

welchy9

Hi

I’m having a bit of a nightmare and need some advice of how to proceed.

I made a transfer from my Zopa smart saver to my Santander linked account last friday and the money never arrived. I’ve used this previously with no issue, and have tested another £1 since that also worked fine.

Zopa are insisting that the money landed with Santander and didnt bounce back and have provided me a SIP (single initiated payment) reference ID, and insist there is no faster payment reference and theres nothing more they can do. Santander are insisting that without a faster payment reference theres nothing they can do. I’ve raised complaints with both as this situation appears deadlocked and neither is taking accountability or providing a path forwards, but wanted to check

• Is there anything else i should be trying?
• Has anyone else had this issue and managed to get this resolved?
• Is there a safe way i can get money out of my Zopa account that means it uses a faster payment reference so Santander would be able to trace.

Thanks

Richard

flaneurs_lobster

Think both banks are talking about the same thing (although it's properly called a Single Immediate Payment Reference).

Faster Payments is the mechanism by which an Open Banking connection between (in this case) Zopa and Santander transfer the payment message.

There's just one reference, get Santander to check again (although your complaint will mean they should do this anyway).

Just a thought, do you have any other payees set up on Zopa? I've been guilty of selecting the wrong one (of two) before now.

No point in trying to replicate the message, each one is unique.

welchy9

https://forums.moneysavingexpert.com/discussion/comment/82064120#Comment_82064120

Thanks.
Ive given santander the sip reference; theyve insisted multiple times they cant use it and need a faster payment one and that the reference ive provided isnt suitable (although wouldnt entirely surprise me if theyre wrong). Zopa insist they only have a sip reference, and that it wasnt under faster payment. Neither bank are willing to talk to eachother to resolve this.

Def not the wrong ref, my smartsaver inly has my zopa and santander accounts linked, and Zopa app has def identified this as going to my santander account.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82064140#Comment_82064140

I am sceptical that Zopa has used something other than the FPS to send the money, and SIP is a Faster Payment.

Could be that Zopa is using a third party service to make these payments and is not getting the FPID, rather some reference to their intermediate request, but that's just speculation.

I think the dual complaint route is all you can really do in this situation if an acceptable payment reference cannot be agreed between the two.

welchy9

https://forums.moneysavingexpert.com/discussion/comment/82065623#Comment_82065623

hi. I do have a Zopa current account but I guess my issue is i dont know what mechanisms they choose for transfer (might be the same as withdrawal from my smart saver), added to the fact neither zopa or santander have been able to trace the missing money yet. I’d be reluctant to try what could as far as i know end up effectively the same method until i’ve confidence either zopa could recall, or santander could successfully trace if anything went wrong.

The conversations ive had with these banks over nearly a week now does very little to inspire confidence. (E.g at one point zopa said theyd found a technical issue meaning my money hadnt been transferred and would be back to me in 24-48 hours and passed me onto a different team for details, only for the other team to fully contradict the 1st. Also, googling tells me SIP is the most common type of faster payment, but Zopa insist it isnt a faster payment, and no-one at santander i’ve spoken to has heard of it and insist a SIP id isnt a faster payment id.)

jaypers

It will be Faster Payments, no question about it.

Also, Zopa are speaking utter rubbish. All FPS payments can be traced on their own logs. They have the info. The OP has either sent the funds elsewhere (which seems unlikely) or the payment is held up in a queue somewhere on Zopa’s systems. Faster Payments do not randomly go where they shouldn’t.

Suggest an official complaint with threat of Ombudsman.

welchy9

https://forums.moneysavingexpert.com/discussion/comment/82065759#Comment_82065759

thats exactly what i’ve done (to both sides, just in case). Thanks