Is Zopa Safe
Is Zopa Safe?
Is Zopa Safe – A Real Zopa Users Review
One of the first considerations anyone who is about to make a financial decision should consider is if the company they are about to use is secure and can be trusted. So it’s only right that if you are considering borrowing or lending money with Zopa that check you are in good hands.
First up, let me state that we are totally independent to Zopa, we are simply an advice and review site created by real Zopa users to help people looking for real users experiences. We felt when we first got involved with either borrowing or lending with Zopa it was hard to find information from real users, and therefore for us the only way to find out “is Zopa safe” was to try it.
Luckily for you reading this site we created ZopaReview.me.uk to help answer those questions, and yes, we picked me.uk as our domain to help show that we were a genuine user site rather than a big business. We did this because we are passionate about the services Zopa offer. However, as you are here with a specific question you need answering lets get straight to that…
Is Zopa Safe?
1) Zopa has existed since 2006 and is regarded as the market leader in ‘peer to peer leading services’
2) Zopa is a registered company, with accounts collected and audited
3) it has an active team of employees with offices in London
4) it has the financial backing of the same investors that invest in EBay, etc
5) it is listed by the FSA
So those are the more formal facts that should help to answer the question is Zopa safe question, but what about our real user experiences since joining Zopa?
1) the website is fast and secure
2) we have never experienced any downtime whilst trying to access the website
3) the website authenticates using HTTPS which is the industry standard for protecting your data as you login
Once authenticated you, and only you, can see your financial details, which depending on if you are a lender or borrower will give you a detailed view of your financial details, be it the amount you have paid on a loan or the amount you have lent to other Zopa users.
All this information is transferred between Zopa and your browser in its encrypted from, so there are no concerns around other people being able to see you information.
So is Zopa safe? For us, in our humble opinion, it meets and exceeds all of our expectations. We are happy to use Zopa for both lending and borrowing money, which is clearly managed by a very strong team of people who know exactly what their customers expect when dealing with a financial organisation.
So to answer your question once and for all, is Zopa safe? We give it 100% for safety and recommend that you get straight over there now and try it for yourself, we are sure you’ll be pleasantly surprised!
Zopa Loans Scam
As genuine Zopa users we know that Zopa is a honest and trustworthy place, for both investing our money or borrowing as a loan, though I’m guessing if you have found this page you may be checking that Zopa is safe so let us set your mind at rest.
Zopa Loans Scam
Whenever you make a financial decision, be it to borrow money or invest money, you want to be sure that your money is safe. So is it safe with Zopa or should be concerned you are about to be hit by the Zopa Loans Scam?
First up, let me assure you, there is no Zopa Loans Scam at all!
Zopa is an extremely professional organisation based in London, they employ over 20 staff who are dedicated to the service. They have been operating since 2005 and are growing year by year.
Last year, in 2010, they were given the prestigious Moneywise aware for the “Best Personal Loan Provider For Service”.
It should also be noted that Zopa’s financial backers are the same as those who previously invested in eBay, Lovefilm and Betfair, so you know you are in good hands.
Zopa themselves are currently lobbying the UK government for FSA regulation to cover their type of Peer To Peer lending so they clearly have nothing to hide and total confidence in their ability to offer a safe, secure and ultimately fully audit-able Financial service.
They also have credit licenses by the Office of Fair Trading (Search for No. 563134) and are a member of the UK leading non profit anti-fraud association CIFAS. Finally they are also registered with the Office of the Information Commissioner (No. 2879078).
Should you be concerned about a Zopa Loans Scam? No!
Zopa are a great company and they allow you to either borrow or lending money in a peer to peer way that is safe, fun and ultimately a great way to avoid dealing with the traditional lenders, which we love!
I hope that knowing our view as real users of the service has helped set your mind at rest. There is no zopa loans scam, you can invest or borrow money safely with Zopa, so without further delay click here to get started!
Zopa Loans
Zopa Loans are an interesting alternative to the traditional high street bank offering. Whilst bank loans tend to be rather boring, the decision is made by a computer and if you are lucky enough to get one you are usually tied in to the term of the loan, with no option to overpay or penalties if you pay the loan off early.
In contrast, Zopa have managed to make the world of retail finance appear much more social, with their peer to peer model offering a model that wouldn’t have been possible before the Internet became mainstream.
Zopa loans are simply offering a way for those with money to spare to lend it in a controlled way to those who need to borrow it. Doing so benefits both parties, as shown below:
Benefits of Zopa Loans for Lenders:
1. Market beating rates
2. Diversifying portfolio
3. Making a difference
Benefits of Zopa Loans for Borrowers:
1. Competitive interest rates
2. Over-payments and early repayment allowed at no cost
3. Borrowing from real people, not a faceless institution
Lending Money With Zopa
If you have some spare cash that is currently sitting in a savings account attracting a very low interest rate and a return barely worth bothering with, you may be tempted to look elsewhere for better returns on your money. Likewise if you have been burnt by the volatile stock markets in the past and want something stable that will outperform most ISA’s, then you should really consider the magic peer to peer lending with Zopa.
Lending Money With Zopa
Simply put, Zopa has done for retail banking what file sharing did to the music industry. Whilst no-one welcomed the early illegal days of file sharing, it did ultimately change the way we consumed music with MP3 sales now far outstripping physical CD’s. The same is happening now with the loan industry, with Zopa offering a credible way to share any spare cash you have with the masses and ultimately allowing you to set your own rate of return.
Spreading the Load – Lending Money With Zopa
You investment will be split into hundreds of smaller loads and distributed to the borrows across the Zopa site. This gives you many benefits, the main being protection from having all your eggs in one basket. Should one of the people who has borrowed from you get into trouble paying you back, Zopa will pursue them on your behalf, hopefully agreeing a successful payback. Even with a few bad debts, as your investment is split across multiple borrowers your risk is low and any shortfall likely covered by the interest rates.
More on interest rates…. investors are making anywhere between 8 and 14 percent on their money, which clears beats anything the high street can offer!
It’s safe, secure and protected so click here to find out more about lending money with zopa.
Borrow Money With Zopa
If you are looking for a safe alternative to banks and credit cards, where you can borrow money at a fixed rate, make over payments and even pay off your loan early without any additional fees; I have just the place for you.
Borrow Money with Zopa
Zopa is a peer to peer lending service that allows you to borrow money at a fixed rate from other users of the Zopa service. You make one single payment to Zopa each month and they take care of paying back the original lenders. So from a users perspective it much the same as any other loan, the only difference is you are borrowing and paying back to the community who make up the Zopa site, rather than a big bank or institution. Appealing right?
Well it really is appealing and we speak as current customers. We love the fact that the Zopa website is so simple and easy to use. When we have needed to contact customer support the response has been quick and friendly.
So should you borrow money with Zopa?
We firmly believe that yes you should. You can click here now to find out if they will be able to lend to you and at what rate. Even better, you can find this out without having to have a credit check; as Zopa only run a full check when you accept the loan. It’s best to be honest when applying though as you don’t want to have to explain something that you missed telling them.
Regardless of why you are borrowing, be it to clear other debts, home improvements or a car purchase, Zopa is a great place to try for a loan. The best thing is, if you have any spare cash in the future you can make over payments or even pay off your loan fully without any penalties.
It only takes a few clicks to find out what you could get so take the steps today and see if you can borrow money with Zopa.
Peer To Peer Lending
Peer To Peer Lending is the term used to describe a relatively new financial service provided online through websites like Zopa.
Peer To Peer Lending
The easiest way to understand it is to consider it in the same way that file sharing happens across the internet. Using a file sharing client enables multiple users across the internet to download parts of the file you are sharing simultaneously. Each user is getting a bit of the file from you and hundreds of other shares on the internet.
The is very similar to the model used in Peer To Peer Lending. Effectively, if you are the lender, you are making an amount available, via the central service, to hundreds of borrowers to borrow from. Your money is split out to these people, normally in denominations as low as £10 each.
If you are the borrower, whilst you will see one amount deposited into your account and you will make one monthly payment against it, it is actually made up of hundreds of smaller loans from your peers. Each month that you make your repayment you are paying back an amount to each of these individuals.
We think Peer To Peer Lending is a fantastic way to help overs and make a good return on your money, so if you are a potential lender or a borrower click here to find out how to get started with Peer To Peer Lending today.
Welcome to ZopaReview.me.uk
Hi All
We are just putting this site together to help people make an informed decision on whether lending or borrowing with Zopa is the right thing to do.
It’s also worth us pointing out that we are totally independent to the Zopa, in fact we are just a group of friends who have used Zopa both past and present. We feel passionately about the service and have created this site to share our experiences in the hope that it benefits others.
Soon we’ll have lots of content on the site but right now we are busy collating our experiences to share with you.
So please bookmark us and leave a comment below. It won’t take us long to get you all the info you need on the Zopa service.
Regards,
The ZopaReview.me.uk Team
