ZOPA maturity

ccluedo

Hi, my Zopa RS matures on 24th.

I'll obviously move the funds to a higher paying account. I don't (yet) see an option for starting a new RS but maybe it will appear on 24th.

Thats the easy part.I'm a bit wary of not optimising the rest of it tho.

To keep bonus rate it says DD on Biscuit or 10k across access pots. Do we know if any DD counts no matter the amount? (The bonus rate is fine for keeping limited easy access cash I think).

Last year I got £30 for a one off £1500 DD to Moneybox so when I look under benefits it says, as expected. this year's allowance 100% used. Says 3% cashback on bills up to £150pm..so does that mean the one off £1500 Moneybox is no longer an option?

Basically, what are the optimum steps I should take on the 24th pls?

Thanks

flaneurs_lobster

Any DD seems to be good for the bonus EA rate.

Under Benefits on the Spend page it should tell you which of the DD cashback deals is currently set up for your account. Sounds like you are on the new monthly DD cashback (£30 on £1500 is 2%, the old annual deal).

Suspect that on your anniversary date (day of month that you opened the account) the status of that benefit will change to available, and DD cashback will be available.

I've got a monthly DD for £150 set up to Moneybox, but anything will do.

Ayr_Rage

The new DD cashback offer is 3% on up to £150 of DDs per month.

You can change offers any time and do so once a monthly cycle.

This was also in an email regarding Important Changes received on 7th Sep, so it looks like Regular Savers are gone once your existing one ends.

"What’s happening to Regular Saver : From 22 September, you won’t be able to open a new Regular Saver pot once your current one ends."

reefer37

My RS matured today and just turned into a normal savings account

Sg28

https://forums.moneysavingexpert.com/discussion/comment/82175871#Comment_82175871

So £1 DD would work?

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82176711#Comment_82176711

Nothing in the Terms nor in comments here have suggested otherwise.

My DD to Moneybox serves to generate cashback AND meet the requirement to preserve the enhanced rate on the savings pot.

Ayr_Rage

My Regular Saver ended today.

It became a Access Pot alongside the one I already had and it also had the same bonus interest rate (2.95% + 1.5%) in the description.

Just moved the funds over to the other pot and closed it.

No option to open another Regular Saver.

ccluedo

https://forums.moneysavingexpert.com/discussion/comment/82176850#Comment_82176850

My what happens next says I will be able to open a new RS pot...no rate or term details tho…

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82177128#Comment_82177128

Wouldn't be the first time that one bit of Zopa contradicts another bit.

Can be quite arduous to work out exactly which bit of the terms applies to oneself.

ccluedo

https://forums.moneysavingexpert.com/discussion/comment/82177136#Comment_82177136

Can be quite arduous just to navigate the new and improved(!) App...

Ayr_Rage

@ccluedo believe me I've done a forensic investigation of the app today and no new regular saver is available to me.

I think the change in Ts and Cs that arrived by email and I quoted yesterday have not been incorporated into the app page regarding expiry of the current regular saver, the photo you added was what I had prior to expiry but isn't what happened.

As I said it became an access pot but also included the 1.5% bonus.