Withdrawing money from your IFISA
You can withdraw your IFISA funds to your bank account or transfer them to new ISA provider whenever you like.
Withdraw funds into your bank account
To withdraw from your Zopa IFISA directly to your bank account, the usual rules for withdrawing your money from Zopa apply.
And if you replace the funds within the same tax year, your tax-free allowance isn't affected.
Transferring out of a Zopa IFISA
If you've found a new provider, you can move your funds over and keep their tax-free status by transferring-out.
To do this, you need to tell your new provider that you'd like to transfer your Zopa IFISA to them. They'll get in touch with us and we'll take care of the rest.
All the usual fees and sale rules apply and you can expect the transfer to take up to 30 days.
How can I access funds in my Zopa investment?
You are able to withdraw your funds at any time but remember that this investment performs best if you reinvest your repayments over 3+ years.
Sell your loans to other investors for a 1% fee
If you want to access money that is still invested in loans, you will have to sell these loans to other investors first. After you request a loan sale, we have to find other investors to buy them before you receive your funds.
Good to keep in mind
- This is a good way to withdraw a larger amount from your investment.
- We charge a 1% loan sale fee and will revalue your loans according to the latest market rates and repayment history. That might mean they are worth less than what you paid for them. Have a look at an example.
- Loans in arrears cannot be sold.
Keep your monthly loan repayments
You can choose not to reinvest your incoming loan repayments so they remain in your Zopa account, ready for you to withdraw for free.
Good to keep in mind
- This is a good way to withdraw a small amount from your investment.
- You can only withdraw at the pace of your incoming repayments.
- If you withdraw rather than reinvest your repayments, your initial 1% exposure to a single borrower could increase over time.
I want to transfer my Zopa ISA to a new provider but some of my loans are in arrears/default. What happens?
We can't transfer any loans in default or arrears so they will need to stay in a Zopa account.
When we get your transfer request, we'll sell as much as we can and transfer those funds to your new provider.
If you're transferring an ISA you opened in the current tax year, you must transfer as much as possible. We'll then move any loans in default or arrears into a non-ISA Zopa account while we work on recovery.