Zopa Discussion

There was first thing - no idea why they’ve removed it before the maintenance is over!

My transfer hit Monzo account half an hour ago, so perhaps some things are just stalled a little bit.

Now safely in my Atom account, which is truly instant in its interactions with Monzo.

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Looks like the app isn’t allowing movement of funds atm.

Error on Zopa side apparently :thinking:

I persisted with the Try Again button and it worked after a good few tries. Then it was the usual 10-20 minutes until it hit Monzo.

They’ve confirmed that there is an issue, though.

Been an hour and my funds not received in Monzo yet :person_shrugging:

All fixed now?

Yep. All fixed.

And an apology from Zopa on Twitter

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Yep, I got that yesterday - a decent approach. A great pity the established banks cannot follow such an example. I have spent sometime moving my savings about to get a better rate. As is said ‘Every Little Helps’. I had already put a few grand into Oxbury but, for whatever reason (a glitch on the app?), was unable to register to Oak North. In fairness to oak north they have reached out to me but seem unable to accept that I cannot screenshot the problem as it is a live event. No matter, so thanks for trying Oak North.

With all that said, my best investments, more tomorrow, is long term Malt Whisky.

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No need for Zopa atm when I can get easy access elsewhere for more than their 95 day wait account.

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See Santander’s 2.75% eSaver :slight_smile:

This might even kick the other high street banks into competition.

Yea but it’s fixed rate - so it’s a loss leader which won’t creep up any further

Perhaps Zopa won’t catch up but you never know…

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It’s variable rate.

Can Santander change the interest rate?

Yes, the rate can go up or down e.g. in response to industry and market conditions. If the rate goes down, we’ll let you know around 2 months before the rate changes.

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Odd - I must have read different/incorrect literature. Perhaps of the regular saver.

Either way I tend to give Santander a wide berth (their tech is naff) - I’ll take the Zopa app (with pots) over a few pounds worth of interest.

Since buying a house I only have a moderate pot. Appreciate it’s different for others.

Tell me more, like I said, every little helps.

I do like the Zopa app and the flexibility you get with pots but the difference in interest to me is too much to ignore!

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As mentioned above,

Santander eSaver Limited Edition

2.75% variable

No current account with Santander required.

Open from £1

Available until 1 Nov 2022 though may close sooner if popular.

This is 0.25% ahead of my Yorkshire BS 6 access account, and 0.40% ahead of Al Rayan

I have many, many savings accounts, most with just a £1 in though, in case they offer a decent product in future.

Looks like a week to get online, though, unless you’re already an online customer with them. Also, may have to submit some id by POST. Our postal service is appalling at the moment, because they keep going on strike. It was bad enough even before.

I have already knocked back a couple of accounts in the 14 day cooling off period because they took an age to set up. It also depends on how long deposits and withdrawals take. There is no need for x working days and clearance times anymore, is there.

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Instant both ways, as you’d expect with a bank account nowadays.

Not instant with institutions such as Ford, RCI and Charter Savings Bank, which piggy back on the Newcastle BS systems. Once bitten, twice shy, as the lag effectively reduces the published interest rates.