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Post by erniec on Nov 29, 2018 9:57:06 GMT
I have decided to stop re-investing repayments of capital and interest in the Investing part of my Zopa while continuing to do so with the ISA part.
With RateSetter, I can set up an automated withdrawal to take place on the same day each month.
Is this possible with Zopa or do I have to set a calendar entry to remind me to do it manually?
Many thanks.
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aju
Member of DD Central
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Post by aju on Nov 29, 2018 10:41:58 GMT
I have decided to stop re-investing repayments of capital and interest in the Investing part of my Zopa while continuing to do so with the ISA part. With RateSetter, I can set up an automated withdrawal to take place on the same day each month. Is this possible with Zopa or do I have to set a calendar entry to remind me to do it manually? Many thanks. I don't think so. The last time i withdrew anything was on day one in 2006 for me when I tested the account settings by sending a £1 and bouncing it back. I know Zopa are promising some new features but not sure that is one of them. Someone will be along soon I'm sure to confirm it.
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benaj
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Post by benaj on Nov 29, 2018 11:46:13 GMT
I wish Zopa added "return money to bank account" feature in the "Change repayment" screen.
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Greenwood2
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Post by Greenwood2 on Nov 29, 2018 12:39:57 GMT
Years ago I seem to remember you could arrange things like this by contacting Zopa and they could set it up individually, the software has changed a lot since then and there are a lot more lenders, so I'm not sure they could/would be so helpful now.
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Post by erniec on Nov 29, 2018 13:47:25 GMT
Thank you, all.
I’ve just added a recurring diary entry for the 1st of each month.
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Post by steamer on Feb 5, 2019 11:15:56 GMT
They have put an access your money button on the front screen but it still takes 3 + days to find its way to my bank account. Contrast that with Funding Circle who get it there the same day.
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Post by portlandbill on Feb 5, 2019 13:33:10 GMT
in this day and age you have to question any financial organisation that doesn't use the faster payments service. Are they really that desperate to hang on to your money for as long as they can?
it shouldn't take longer than 2 hours. 3 days? they're having a laugh!
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Post by newlender on Feb 5, 2019 19:03:50 GMT
For example, if you request a withdrawal on a Monday you'll get it on the Wednesday as a Bank Giro Credit (BGC) entry on your statement, so it's two days in reality. I agree that they should use Faster Payments.
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Post by df on Feb 5, 2019 22:17:07 GMT
For example, if you request a withdrawal on a Monday you'll get it on the Wednesday as a Bank Giro Credit (BGC) entry on your statement, so it's two days in reality. I agree that they should use Faster Payments. Always two working days in my experience. Not bad, most take one day, but some others take longer. The fastest withdrawals I experienced were from MT and FS - the longest from HC.
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Post by newlender on Feb 6, 2019 9:23:39 GMT
Remember that Zopa is proud of its new banking license so it should give the same access to funds as other banks do. Marcus transfers instantly, as does NatWest. The funds in our Holding account with Zopa are presumably treated as cleared and ready to go whenever requested. Any money I send the other way is by faster payment so the system should be reciprocal.
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aju
Member of DD Central
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Post by aju on Feb 6, 2019 17:56:47 GMT
I asked zopa a number of questions in January about slow money payments, their existing bank and their potential new one and this is what they said.
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