What do I need to do if I want to withdraw money from my Zopa ISA?
Updated 4 months ago
If you wish to withdraw money from your ISA, you will be able to do so by either selling loans to other investors or turning off reinvesting. Your funds will build in your holding account for you to transfer to your bank. Turning off relending is a more gradual process as you must wait for loans to be repaid. Once your loans leave the ISA wrapper, they will no longer be eligible for tax-free interest.
Is the Zopa ISA flexible?
The Zopa ISA isn’t currently flexible, as we’ve put a pause on new money coming into the Zopa platform.
This means that if you withdraw money from your Zopa ISA, you won’t be able to put it back into the platform.
However, for current tax year Zopa ISAs, if you withdraw you will still be able to fund an ISA from a different provider without impacting your allowance.
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