How do I set up an automatic withdrawal?

Updated 9 months ago

The P2P investment side of Zopa is closed. Through the purchase of the peer-to-peer portfolio, all investors have now received their funds back. You can find more information on the closure in the ‘Changes to P2P investments’ section of our FAQs.

Automatic withdrawals are the simple way for you to send money from your Zopa holding account to your bank account, without having to log in and go through the manual process.

To set one up, simply follow these steps:

  1. Login to your Zopa account
  2. Open the investment you want to set up an automatic withdrawal for
  3. Click ‘access money’
  4. Select ‘Withdraw from holding account’
  5. Click the ‘Set up and automatic withdrawal’ option
  6. Choose your trigger amount and the account you want to send money to
  7. Hit ‘save changes’

Once this is done, every time your holding account reaches your trigger amount, we’ll automatically send all the money from your holding account to your bank account the following morning.

Please note, the payment could take up to three working days to reach your bank account and the amount you receive may be slightly above your trigger amount if repayments made by borrowers lift you above that threshold

ISA investors should not use this approach if they wish to retain their ISA investment in a tax-free wrapper.

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