The competition for bank customers has intensified, with a new player entering the UK current account market. Digital bank Zopa is offering cashback on bills and access to a savings account paying 7.1%. Zopa, which has been around since 2005 as a peer-to-peer lending platform, has now become a fully-fledged digital bank. Their new current account, called Biscuit, is free to open and comes with a contactless Visa debit card. It offers no overseas card spending fees and 2% AER interest on current account balances, with no limit on what you can earn. The bank also offers access to a regular saver account, paying 7.1% AER, into which you can pay in up to £300 a month. However, Zopa is an app-based account and does not offer branch access or the ability to pay cash or cheques into the account. Personal finance expert Andrew Hagger says that the offer looks good, but hopes that the bank will not withdraw the offer after the initial 12-month fixed rate period.
Source: https://www.theguardian.com/money/2025/jun/28/zopa-current-account-cashback-savings-fee-free-travel
Zopa introduces a current account featuring cashback benefits and a 7.1% interest rate on savings | Financial institutions and building societies offering banking services
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