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The Guardian

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June 28, 2025

New player Zopa joins the fray with a fistful of perks

- Rupert Jones

Current accounts

The battle for bank customers intensified this week, with a new player entering the current account market and offering cashback on bills and access to a savings account paying 7.1%.

Digital bank Zopa is hoping the perks - which also include in-credit interest and fee-free spending abroad - will tempt switchers to its first day-to-day account. The company has been around since 2005, when it launched as a "peer-to-peer" lending platform, linking savers seeking better returns with individuals looking for loans.

It later shut down the peer-to-peer operation - and is now a fully fledged digital bank.

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