Zopa Bank
Invented P2P lending in 2005, then traded the model for a full bank license.
P2P pioneer turned licensed bank.
- Who holds it
- The company itself — it holds a full banking licence — UK banking license (2020).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Zopa Bank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | London, UK |
| Founded | 2020 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | UK banking license (2020) |
| Card | Visa · Credit |
| Yield | ~4-5% savings |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Europe |
| Countries | United Kingdom |
| Founders | Giles Andrews, James Alexander |
| Funding | ~$1B raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @zopa ↗
Common questions about Zopa Bank
What is Zopa Bank?
Zopa Bank is a fiat neobank, headquartered in London, UK and founded in 2020. Your money is held custodially, so Zopa Bank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (UK banking license (2020)).
Does Zopa Bank have a card, and where can you use it?
It issues a Visa credit card. It is available in Europe.
Does Zopa Bank require KYC?
Yes. Zopa Bank requires identity verification (KYC) to open an account, as a licensed bank.
What does Zopa Bank cost?
From the verified fields: yield ~4-5% savings. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Zopa Bank before relying on them.
Early investors
Peers
Monzo · Wise · Starling Bank · Atom Bank · Chase UK · Kroo
Zopa Bank appears in
Neobanks that hold their own banking license (132) · Neobanks available in Europe (144) · Neobanks that issue a Visa card (182) · Neobanks in United Kingdom (29)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.