Information about Zopa's Personal Current Account Services

The Financial Conduct Authority requires us to publish the following information about our personal current accounts.

How to open a current account

Account opening information published under BCOBS 7.3.1R and BCOBS 7.3.3R(1) and (3).

To open a new bank account with Zopa, a new customer will need to provide us with the the documents and information set out at zopa.com/bank-account.

We may ask for additional information or documents in some cases.

You can open an account:

About our current account services

Availability of help and support in relation to certain services published under BCOBS 7.5.2R.

The Financial Conduct Authority requires us to publish the following information about our personal current accounts.

How and when you can ask us about the following things:

Good to know: this is a list of common queries, but doesn't represent the full list of queries you can raise about your account.

Availability of certain services

Published under BCOBS 7.5.1R.

How and when you can use your bank account to do the following things:

Good to know: this is a list of common queries, but doesn't represent the full list of queries you can raise about your account.

Information about operational and security incidents

Published under BCOBS 7.6.1R.

We are obliged to notify the Financial Conduct Authority if we become aware of a major operational or security incident which prevented our customers from using our payment services.

They were:

Complaints data

Published under BCOBS 7.6.3R

Financial Conduct Authority rules require us to provide them with a report of our complaints data every six months. In certain circumstances, we are also required to publish a summary of our complaints data.

The most recent summary is available Complaints - Zopa.

The Financial Ombudsman Service publishes its complaints data every six months. You can see their complaints data about us at http://www.ombudsman-complaints-data.org.uk/.

Account opening FAQs

Published under BCOBS 7.3.3(4)R.

Head to zopa.com/bank-account to find out how you can open an account and what information and documents you need to give us.

Other account opening information

Published under BCOBS 7.3.5R.

How quickly do we open personal current accounts?

We give customers an account number and enable them to start paying into the account:

• The same day, for 99% of customers;

• On average, in 0 days; and

• Within 0 days for 99% of customers.

These figures are based on the time taken from our receiving all the information and documents we ask for at zopa.com/bank-account, in a case where we don’t need any other information or documents to open the account.

How quickly do we give customers a debit card?

Once an account is open, we give customers a debit card*:

• The same day, for 0% of customers;

• On average, in 4 days; and

• Within 4 days for 99% of customers.

*A virtual card becomes available immediately, at the point of account opening.

How quickly do customers get internet banking?

Zopa does not offer internet banking for the current account.

How quickly is an overdraft available?

The Zopa Bank Account does not offer an arranged overdraft.

Time taken to replace a lost, stolen or stopped debit card

Published under BCOBS 7.4.1R.

We replace debit cards:

• The same day, for 0% of customers;

• On average, in 4 days; and

• Within 4 days for 99% of customers.

Pricing information about personal current account overdrafts

Zopa does not offer arranged overdrafts and when it permits an unarranged overdraft (in limited circumstances), it does not charge interest or fees. Zopa does not charge a refused payment fee.