- Experts highlight Zopa as a modern digital bank with a user-friendly app and a strong focus on customer service, noting its competitive personal loan offerings and transparent pricing. However, they caution that while Zopa’s credit card features are appealing, the high APRs may deter some potential customers, and the lack of physical branches could be a drawback for those preferring in-person support.
- Across 26 user reviews on Good Money Guide, averaging 2.7/5, customers frequently commend Zopa’s easy-to-use app and range of financial products, but many express frustration with customer service and account management issues. A significant number of reviews reflect dissatisfaction with slow support responses and account restrictions, leading to a negative perception of the overall service experience.
Zopa Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Zopa across five key areas of our review framework.
- Pricing4.5
- Product Range4.0
- App & Platform5.0
- Customer Service4.5
- Education & Analysis3.5
Pros
- Easy-to-use mobile app
- Award-winning customer service
- Flexible loan repayment options
Cons
- High credit card APRs
- No physical branch access
- Rates depend on credit
See full expert review
Our verdict
Zopa scores highly on transparency, customer experience, and ease of use. It is open about costs, offers digital-first tools that are easy to navigate, and has won numerous awards. However, its credit card interest rates can be high, and the absence of branch-based service may be a drawback for customers who prefer face-to-face support. Overall, Zopa offers a strong suite of financial products for those looking for a modern, digital bank with a growing reputation and a focus on customer satisfaction.
What does Zopa do?
Zopa is a UK digital bank that started life in 2005 as a peer-to-peer lending platform before launching full banking services in 2020. Today, Zopa offers a range of financial products including personal loans, savings accounts, credit cards, car finance and, most recently, a current account under the brand name “Biscuit.”
Zopa has over 1.4 million customers and positions itself as a mobile-first, user-friendly alternative to traditional banks. Customers can manage all their accounts and credit products via the Zopa app or website.
Is Zopa Bank safe?
Zopa Bank is safer than it used to be for saving as they no longer offer peer-2-peer lending, which is where you where lending money to other people through it’s platform. Now, when you borrow or save with Zopa bank your money is protected by the FSCS. As Zopa does not currently offer investing accounts, saving money in interest paying accounts is safer than in the stock market as there is no risk of getting back less than you put in.
However, saving cash in a safe Zopa account may mean that it will be worth less in the future if the interest rate you get from Zopa is less than the rate of inflation. If you want better returns, an investment account may be more appropraite.
Who ows Zopa Bank?
Zopa Bank Ltd is privately owned and has received funding from major institutional investors including SoftBank Vision Fund and AP Moller Holding. The business has grown rapidly in recent years and is now profitable.
In 2024, it reported a pre-tax profit of £15.8 million, reversing a loss from the year before. The company is regulated by the Financial Conduct Authority (FCA) and customer deposits are protected by the Financial Services Compensation Scheme (FSCS), giving users added peace of mind.
Does Zopa offer credit cards?
Yes, Zopa does offer a credit card. It has no annual fee and provides a credit limit typically starting from £200 up to several thousand pounds depending on credit checks. The representative APR is 34.9% although the exact rate depends on your personal financial profile.
The card comes with features such as instant spend alerts, a “credit cushion” buffer for unexpected payments, and tools to manage your balance. Zopa won “Best Credit Card Provider” at the British Bank Awards in 2025, reflecting strong user satisfaction.
However, it is worth noting that some customers have seen their interest rates increased recently, with the minimum APR rising from under 10% to around 26.6% for new applicants.
Are Zopa loans expensive?
Zopa personal loans are competitively priced but may not always be the cheapest on the market. They offer fixed-rate loans from £1,000 to £35,000 with repayment terms ranging from 1 to 7 years.
There are no arrangement fees, and overpayments are allowed without penalty in most cases, although early repayment terms should be checked before signing. Zopa loans are often praised for transparency and speed, with many customers receiving funds the same day.
The exact APR depends on your credit score and personal circumstances, but rates are generally in the mid-range compared to other online lenders. While not the cheapest, the convenience and customer service often make up for slightly higher rates for some borrowers.
Zopa Customer reviews
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 26 reviews
- Excellent38%
- Very good4%
- Basic4%
- Poor0%
- Bad54%
Read customer reviews
They gave me some random guy's details then logged me out while trying to get help from abroad!
Utterly shambolic. Went to live chat for help from abroad, not only did they fail to be any help whatsoever, they ‘confirmed’ who I was by giving me someone else’s details; name, email, mobile number, everything. They then repeatedly logged me out of live chat as soon as I complained at their shocking behaviour. These people are not just idiots, they’re dangerous. Will be reporting to the information commissioner.
Scammers
Used zopa for car finance, i took ill for a few weeks and missed 2 payments £260 , i offered ro pay this but they decided to just default me, meaning i lost my job, my family and any reason to live. Dont trust them, WHY wouldn’t they let me just pay it? They would rather repo the car and sell it at auction to make nothing. And thanks to them i can no longer pay the payments rhey think their atill owed for a car i don’t have….makes no sense unless its a scam
Scammers
Have car finance with zopa , i missed 2 payments because of ill health. I offered to catch up on my next wage. They would rather default me and send my life in a spiral of depression than let me pay. Tell me its not a scam when i have no car and a 5 grand debt to them, AVOID AVOID AVOID
Awful experience awful service left stranded
On 27th August, Zopa blocked my account immediately after I transferred my wages. I’m a disabled woman and was left stranded late at night with no way home.
I called their emergency number and spent 25 minutes on hold. When I asked to speak to a manager, I was told two hours. The escalation team refused to speak to me directly.
To top it off, their follow-up text survey failed with “keyword not recognised.”
Zopa’s emergency and support systems are dangerous, unreliable, and leave vulnerable customers at risk. They failed me when I needed them most.
Very good
Very good
Great app
Great app
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Zopa Bank Alternatives
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Interest Rate 4.5% |
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