ZopaCurrent account
£20 Free Cash
Value
£19
Zopa is a UK digital bank with over 1.5 million customers, founded in 2005 as the world's first peer-to-peer lending platform and now fully licensed as a bank since 2020.
Customers
1.5m
UK accounts
Founded
2005
21 years old
App Store
4.9 ★
66k reviews
Google Play
4.7 ★
31k reviews
Live offers
2
Worth £35
Authorised by the PRA, regulated by the FCA and PRA. FRN 800542. Eligible deposits FSCS-protected up to £120,000.
Zopa at a glance
Right now Quidsy has two live Zopa offers: a £20 Biscuit current account bonus for opening an account and setting up one Direct Debit, plus a 7.1% Regular Saver. Biscuit also pays 2% on your balance, 2% cashback on bills, and fee-free spending abroad. Best as a secondary bills-and-travel account. Heads-up: app-only, no joint accounts.
Updated:
Current Zopa offers
ZopaRegular Saver (7.1%)
£16 Free Cash
Value
£16
Review notes· 5 min read
Zopa details
Zopa is a UK digital bank with over 1.5 million customers, founded in 2005 as the world's first peer-to-peer lending platform and now fully licensed as a bank since 2020.
Their flagship Biscuit current account launched in 2025 and quickly became one of the most talked-about everyday accounts in the UK, mixing app-first banking with genuine money-earning features that most high street banks don't bother with. Sitting alongside Biscuit, Zopa runs a competitive Regular Saver and a savings range, so you can keep more of your money in one place.
Zopa works particularly well as a secondary account for routing your household bills through (to maximise the cashback) or as a travel-friendly card thanks to fee-free spending abroad. If you're comfortable with app-only banking and want competitive interest rates without faffing about with monthly switching, Zopa is a strong fit.
It's less suited to people who want branch access, joint accounts, or a single account that does absolutely everything – it's an everyday earner, not a one-and-done solution.
Is Zopa safe?
Yes, Zopa is a fully regulated UK bank with the same protections as any high street name. Zopa Bank Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by both the Financial Conduct Authority (FCA) and the PRA, firm reference number 800542. Your deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person (the FSCS limit was raised from £85,000 on 1 December 2025).
Zopa received its full UK banking licence in 2020 after operating with restrictions during the launch phase, and reported a £65 million profit in 2025, its third consecutive year of profitability.
Day-to-day security is what you'd expect from a modern bank: biometric login, instant card freezing, real-time transaction alerts, and the same fraud monitoring you'd find at Monzo or Starling. We haven't found any material FCA enforcement events against Zopa, which is worth noting for a bank of this size.
The honest caveat: app-only banks live and die by their tech, so if Zopa's app is down you can't walk into a branch. Worth keeping a second account open as a backup, which is good practice for any digital bank.
Who is Zopa for?
Zopa's Biscuit account is ideal for anyone looking to earn more from their everyday banking. It works particularly well as a secondary account for managing household bills (to maximise the 2% cashback), or as a travel-friendly option thanks to the fee-free spending abroad.
If you're comfortable with app-only banking and don't need branch access, Zopa offers a compelling package. It's especially suited to people who want competitive interest rates without the hassle of constantly switching between accounts.
What does Zopa do?
2% cashback on bills
Earn 2% cashback on up to £125 of eligible Direct Debits per month – that's £2.50 a month, or up to £30 a year, paid straight to your account. Works on the everyday bills you'd pay anyway.
2% AER on your current account balance
Your Biscuit current account balance earns 2% AER (variable), paid monthly, with no balance cap and no upper limit on the interest you can earn. Most current accounts pay nothing.
Fee-free spending abroad
Spend on your Biscuit card abroad at the Mastercard exchange rate, with no extra Zopa fees. Makes it a genuinely useful travel card without paying for a premium plan.
Regular Saver at 7.1% AER
Save up to £300 a month for 6 months at 7.1% AER variable, currently one of the more competitive regular savers from a UK app bank. Earns around £16 in interest on the full £1,800 over the term.
Round-ups, savings pots and instant alerts
Round purchases up to the nearest pound, sort money into named pots, and get real-time notifications on every transaction. The basics done well rather than gimmicks.
Pros and Cons
What stands out
5 pros- 2% AER paid on your everyday current account balance (variable, no cap), not just savings pots
- 2% cashback on real, recurring household Direct Debits you'd pay anyway
- Fee-free spending abroad at the Mastercard rate
- FSCS protected up to £120,000 (the new higher limit since December 2025)
- £20 cash bonus for new Biscuit customers, just for setting up one Direct Debit
Worth knowing
3 cons- App-only, with no branch or phone-first option if the tech has a bad day
- Cashback caps out at £2.50 a month (£30 a year), so it won't replace a dedicated cashback card on big spend
- No joint accounts currently available, which rules it out as a main household account for couples
Zopa's Biscuit account is one of the more interesting current accounts I've tested in the last couple of years. The combination of 2% AER on your everyday balance, real cashback on the household bills you're going to pay anyway, and fee-free spending abroad means it actually earns its keep instead of just sitting there.
It works best as a secondary account, particularly if you point your bills at it to squeeze the cashback. For couples wanting a single shared current account, it isn't quite there yet (no joint accounts), and if you prefer being able to walk into a branch, you'll be happier elsewhere. But for anyone comfortable with app-only banking who wants a genuinely competitive everyday account, it's an easy recommendation.
The £20 bonus for new customers takes about 12 minutes to set up (you just need one Direct Debit running), and you get a properly built bank account out of it. With FSCS protection up to £120,000 and a full UK banking licence behind it, you're not taking a fintech gamble here – Zopa has been a profitable, fully licensed bank for years now.
Zopa FAQs
Zopa makes most of its money the same way any retail bank does: by lending out a portion of customer deposits at a higher interest rate than it pays out on savings (the "net interest margin"). Its main lending products are personal loans, car finance, and credit cards. On the Biscuit current account, Zopa also earns a small fee from card networks every time you spend, called interchange. Zopa has been profitable as a bank for three consecutive years, reporting around £65 million in underlying profit before tax in 2025.
To get the £20 cash bonus, you need to be a new Zopa customer and sign up to the Biscuit current account via a referral link. Once your account is open, you set up at least one Direct Debit within 30 days, and the £20 is paid into your account within 30 days. The active steps take about 12 minutes. It's a soft credit check, so it won't affect your credit score, and the bonus is paid as cash – not points or vouchers. As of June 2026, this is the standard new-customer bonus on the Biscuit account.
Next step
Choose your route with Zopa
£20 Free Cash is the strongest live Zopa route we have listed right now.