What is an automatic withdrawal? 

Updated 2 months ago

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. You may find this useful if you’re looking to gradually wind down your investment while limiting the amount of money sitting in your holding account.

All you need to do is pick a trigger amount. For example, if you set a trigger of £500, every time your holding account reaches that level, 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.

Here is a step-by-step guide on how to set-up an automatic withdrawal.

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