I'm considering Zopa

How safe is my money?

As with any lending, there are some risks, the biggest being that a borrower doesn’t repay. Zopa has the following steps in place to keep this risk to a minimum:
  • Everyone who wants to borrow is identity checked, credit checked and risk assessed for their loan by our experienced team
  • Your money is spread across a number of borrowers to diversify your risk
  • In the Zopa Access and Classic Products your loans are covered by the Safeguard fund.  If a borrower is unable to pay back their loan, the Safeguard fund was set up to cover expected losses.  Though it’s possible that it might not always be able to do so.
  • A collections agency chases any missed payments on your behalf
As a sensible lending platform we have contingency plans designed to protect you the in the event that Zopa was to cease trading. Your money is lent directly to borrowers, meaning that your contract is with each borrower and is not part of Zopa’s assets.  Any money held in Zopa and not lent out is in a segregated account, meaning your money does not form part of Zopa’s assets

Find out more about how Zopa reduces risk.

Last Updated: 4 October 2016, 03:22pm

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