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How can it take Zopa four months to transfer an Isa? | Consumer affairs


Final December I obtained an e mail from Zopa asserting that it was closing all its peer-to-peer accounts and shoppers must transfer their financial savings elsewhere. I had £24,336 in my Zopa Isa, so I instructed Constitution Financial savings to take it over. It despatched the required switch request to Zopa on 31 January.

I heard nothing till Zopa emailed on 1 March stating it aimed to course of the requested switch within the subsequent 30 days. I’ve heard nothing since.

I emailed its complaints division on 1, 4 and eight April however have obtained no replies. Every time I cellphone and ask for “Isa” it says it’s too busy and cuts me off.

At present I rang once more and spoke to somebody by asking for “investments” who rang the Isas division. He was instructed they would ring him again after which he would cellphone me, however gave me no timescale. Nonetheless nothing.

Constitution Financial savings says there’s nothing extra it might do till Zopa transfers my Isa.

SC, Dunfermline

I requested Zopa, which has handled you very poorly, to get on the case and inside just a few hours your switch had been made. The corporate has additionally paid you £250 compensation to apologise for the delay. In December it introduced it was shutting down its peer-to-peer operation to focus on its banking providers.

Maybe it must clear its Isa backlog first. 4 months is an absurdly very long time to attend.

And eventually …

After a spate of letters about poor service with automotive insurance coverage, FD from Devon studies a very good expertise: “Last month my car was hit by another car in a local car park. I took the other driver’s details and phoned my insurer, John Lewis, as soon as I got home.

“Within one hour, the car repairer’s head office had called to take my details; immediately there was another call from the car hire company; this was swiftly followed by a further call from the repairer’s local office to make arrangements to inspect the damage.

“This is how it should be done.”

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