What is an automatic withdrawal? 

Updated 10 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.

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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