Zopa has officially entered the current account market with its new Biscuit account. The account pays interest on your balance, plus cashback and has a very competitive regular saver. Said to be the account that gives you more dough for less effort, Zopa really is taking the biscuit. <\/p>
Biscuit by Zopa is a current account which pays interest and lets you earn cashback. It also has fee-free spending abroad and gives you access to a regular saver with a competitive interest rate. <\/p>
Zopa is a digital bank, meaning the account is opened through its app. Once opened, you\u2019ll receive an instant virtual card, which will give you immediate access to your account benefits. <\/p>
You can also link your external accounts to your Zopa app to manage your money all in one place. <\/p>
Biscuit by Zopa has some useful features available at present and you\u2019re able to start using your account as soon as you open it.<\/p>
You can earn 2% (fixed for 12 months) cashback on up to \u00a31,500 of your direct debits paid from the account each year. That could earn you \u00a330 over a year.<\/p>
And it comes with access to a regular saver that pays 7.1% AER (6.87% gross) fixed for 12 months. You can deposit up to \u00a3300 a month, so in total that could accrue \u00a3137 in interest over a year.<\/p>
It also pays 2.00% AER (1.98% gross) interest on the money you keep in your current account. This rate is fixed for 12 months.<\/p>
It comes with a colourful Visa debit card that can be added to Apple Wallet or Google Wallet straight away, so you don\u2019t have to wait until the physical card arrives before using it.<\/p>
There\u2019s no monthly fee, though you can only withdraw \u00a3200 in cash outside the UK every 30 days. After that, you\u2019ll pay a 2% fee.<\/p>
Zopa is a licensed bank, authorised and regulated by the Prudential Regulatory Authority (PRA) and regulated by Financial Conduct Authority (FCA). Deposits are protected by the Financial Services Compensation Scheme (FSCS) up \u00a3120,000.<\/p> \n