Zopa app bonus rate qualification

ironmongem

In the app I used to be able to see if I've qualified for the 1.5% bonus rate on my savings pot for next month. It would tell me…

- Keep my rate by adding £500 to my Biscuit account by a certain date

or

- I've locked in my bonus rate for the next month

I could then tap on the above message, and I'd see months with tick boxes in them signifying I'd qualified.

I can't seem to find that now. I tried the help in the app, but it just says that I have to go through my transactions to see if I've paid in £500 to qualify.

Have they removed that very useful feature?

ToastLady

Yes the tick box qualification bit has gone now. You now have to either have one direct debit in your Biscuit current account, or keep £10000 and above in savings until a date in April (well that's my timeframe anyway) to keep the 4.45% bonus rate for 6 months.

janusd

Your bonus rate on Access pots was due to end on 20th October. But as a reward for saving more than £10,000, we’re extending it for an extra 6 months.

That means you’ll continue to earn 4.45% AER* (4.36% gross**) variable on your Access pots until 21st April 2027. This includes a 1.5% AER* (1.48% gross**) fixed bonus rate.

You can hold onto this bonus rate by keeping £10,000 or more in your Access pots or keeping at least one Direct Debit set up on your Biscuit bank account at all times until 21st April 2027.

Otherwise, your bonus will end, and your rate will fall to 2.95% AER* (2.91% gross**) variable.

We’re updating the Bonus Savings Rate Challenge terms

We’re updating the terms to reflect this 6-month extension and what you need to do to keep earning the bonus rate. The updated terms will come into effect on 20th October.

View the updated terms

flaneurs_lobster

If you don't/can't keep £10k in a Zopa savings pot then there's recent discussion about setting up a £150 DD to Moneybox for the 3% cashback (if you select that benefit).

https://forums.moneysavingexpert.com/discussion/comment/82183828#Comment_82183828

Of course, any DD to anywhere will do.

ironmongem

Thanks all,

I got an email about the £10k/DD bonus thing, but I didn't realise that it replaced the previous £500/month requirement. All clear now.

One last little thing. In the app, under "Your pots" there's a yellow box "Extend your bonus rate - Keep £10,000 or more in your Access pots" with an arrow pointing right, but when I tap this I get a "Something went wrong" error. Anyone else have this problem? I'm on Android, and I have the latest version of the app.

snookerloopy96

https://forums.moneysavingexpert.com/discussion/6689163/zopa-app-bonus-rate-qualification

I've supposedly locked in my bonus rate by moving a direct debit, but I'm still getting app msgs telling me to do this to qualify.

Ended up asking CS and have got an e-mail confirmation as I'm half expecting the rate to suddenly drop.

However you work it it might be best to do this too.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82191136#Comment_82191136

Not just you. At least they have the good grace to trap the errors and not just let the thing crash.

SeriousHoax

You just need to keep 10k in the account now to get the 4.45% until it ends in 6 months.

refluxer

https://forums.moneysavingexpert.com/discussion/comment/82191136#Comment_82191136

Yes, I've got the same dialogue box and get the same error when I click it. Presumably it's just an app bug and I'm not worried as I already meet the requirements for the bonus rate, but will keep an eye on the rate just in case.

youngretired

https://forums.moneysavingexpert.com/discussion/comment/82191136#Comment_82191136

Yes I got the same error message in the dialogue box and had a live chat with them, he passed the details onto a team but I emailed them back saying the rate has automatically been applied and so it would appear that you don't have to activate, so long as you meet the terms.

norton66

I miss the tick box bonus screen too, imho it would still be useful in the new regime to make it clear the goal has been achieved for the next month.

Don't forget to claim the monthly free Nero too - that's worth a few bob.