Digital Bank Zopa says its mission is to become the “home of money,” and it has added a new service called “Biscuit.”
Biscuit is a current account that claims a superlative digital experience along with high interest rates paid to users.
The new current account pays 7.1% AER [annual equivalence rate] on up to £300 deposits per month, 2% interest on all balances, and 2% cashback on bills up to £1,500 of direct debits per year.
Jaidev Janardana, CEO at Zopa Bank, said all of their products are “designed to provide good value and ease, and our new bank account is another great example of this philosophy.”
Merve Ferrero, Chief Strategy Officer at Zopa Bank, said that many consumers utilize many different financial service providers as no single bank meets all of their needs. They want to change this by “delivering great value across everyday spending and saving, all through one seamless App experience.”
Zopa holds a full UK banking license with deposits protected up to £85,000 by the FSCS.