Zopa Bank Chat

Are savings withdrawals instant / faster payment? Like with chase, Tandem, Marcus.

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I think the instant access one is standard BACS payment. Just withdrew £1 from my saving pot and it came up with the usual warning of ‘Can take up to 2 hours’ which I generally get whenever I do any transaction. Although it’s still not arrived yet as I’ve been typing this (so at least a couple of minutes to transfer).

You need to setup a nominated bank account to transfer to when you setup the savings account.

That’s not BACS - it’s Faster Payments.

I tried a withdrawal to Monzo and it took about 15 minutes.

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It took 21 mins for the money to arrive in the end for me.

So, not ‘instant’.

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Probably better referred to as easy access rather than instant access.

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Never seen it referred to as being Instant Access tbh.

Just Available anytime

Put it this way. It’s quick enough for me.

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And me :+1:

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For me same day is what’s important (aka fasterpayment) rather than next working day (like Monzo savings pots / many providers).

BAcS payments take working days to arrive. So payment on a Wednesday would reach your account on a Friday.

I believe monzo still shows it as Yorkshire too, hard to change though until everyone moves from Yorkshire Bank and Virgin claim it fully theirs.

Revolut shows the Virgin logo I think.

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Eek

VM shows as Clydesdale for me in the Monzo app
But its just like FirstDirect shows as HSBC

Its the little things

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It shows as Yorkshire for me in the Monzo app, but that will because I had a ‘B’ account with Yorkshire Bank and it was that original (though many years closed) login credentials that Virgin Money used when I joined them last year.

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I have a 05-00-05 sort code if that helps. Definitely Yorkshire showing :sweat_smile:

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Same sort code for me too

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05-03-33 also shows as YB not VM
image

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Yes this annoyed a bit too. Tbf to them it did take exactly 20 minutes though.

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Yep, always feels like your money has vanished!

My Dad a moved a significant amount yesterday from Lloyds to Zopa. Didn’t appear in Zopa for hours. Turns out Lloyds had blocked the transaction without saying anything. The call centre advice was for him to go into the branch! Like they would be able to help! Nevermind they had closed our nearest branch anyway.

Eventually the money came through after about 4 hours. I was wishing I had never told him about Zopa, even though they had done nothing wrong.

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Not the best - Oaknorth are doing 2.96% fixed for a year.

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