Interest Free Credit

Who can apply for finance?

As a responsible lender, we take several things into account to help us decide if we can offer you finance. Here are the main criteria.

You'll need to...

• tell us who you are
• be at least 18 years old
• be a UK resident with at least 2 years of address history
• be able to afford the loan (in relation to your income and outgoings)
• have a valid UK debit card
• have a valid UK mobile number

What credit checks do you carry out?

We complete two credit searches as part of your application, a soft search and a hard search.

The soft search helps us confirm you're eligible for a Zopa loan. Only you will be able to see this check on your credit report, and it won't impact your credit score.

The hard search is the final step we take right before you place your order. This check will leave a footprint on your credit file, is visible to other lenders and may impact your credit score.

How are my repayments collected?

We collect your monthly payments using a continuous payment authority, instead of a direct debit. This means that your payment is linked to a specific card, as opposed to a bank account.

We’ll automatically attempt to collect the payment on the agreed due date from the card details you have provided, so it’s important to make sure that the card associated with your order is up to date.

Can I change my delivery address?

To change your delivery address, you’ll need to provide a valid ID such as driving license or passport, and proof of your new address using one of the below documents:

Bank statement

• Council tax statement
• Utility bill (dated within the last 3 months)
• Mortgage statement or tenancy agreement
• Solicitors letter confirming purchase of property or land registry

Please email customerservice@retailfinance.zopa.com with one of the above, along with:

• Your full name
• Your date of birth
• Your previous postcode

Our team will review your request and provide you with an update. For a quicker resolution, contact our Customer Services team via live chat.

Why am I unable to complete my application?

There may be a few reasons why you’re unable to progress with your application...

• The billing address entered in your application must be the same as your shipping address.
• The billing address entered in your application must be the same as the billing address linked to your payment card.
• Your information may already be linked to another Zopa agreement and cannot be used again. If you’ve already had an agreement with us, please try your existing details and apply again.
• Your application link has expired or cancelled, please request a new link from the merchant.

If you are still experiencing an issue, contact our Customer Services team via live chat.

Why was my application declined?

All finance applications are assessed automatically against our lending criteria. If your application is declined, it means you did not meet our lending criteria at the time of your application. Unfortunately, we are unable to manually review or overturn lending decisions.

What happens next?

If you believe the information used to assess your application may be incorrect, you can review your credit report with Equifax or the relevant credit reference agency before making a future application.

Please note that submitting another application immediately is unlikely to result in a different outcome unless your circumstances have changed.

How can I contact Customer Support?

We have a dedicated customer services team for any queries and support related to your retail finance loan.

Please contact us via live chat. You'll first be asked a few questions and will chat with our virtual assistant before being transferred to an agent. In many cases, our virtual assistant may be able to help resolve your query straight away, making this often the quickest way to get support.

Alternatively, you can contact us via email on customerservice@retailfinance.zopa.com. Responses may take up to 2 working days. To help us investigate your query as quickly as possible, please reply with the following details:

• Full name
• Date of birth
• Full address
• Order reference (if applicable)

Please note that we may not be able to process your query without this information.

Our opening hours:

Monday to Friday: 8:00 AM - 6:00 PM

Saturday: 8:00 AM - 4:30 PM

How do refunds and cancellations work?

Each merchant will have their own returns policy, so please contact them directly to find out more or initiate a return.

Once the merchant has confirmed the return, we will aim to process your refund within 10 working days. We’ll email you as soon as this is processed with a breakdown of the refund details.

Once this is complete and there is no outstanding balance, your agreement will be closed.

Can I make an overpayment or pay off my agreement early?

There are two ways to end your agreement:

Right to withdraw

You can change your mind and withdraw from your agreement without giving any reason within 14 days of signing your agreement. You can tell us you want to withdraw by contacting our Customer Services team via live chat. If you withdraw from your loan agreement you must repay the loan amount within 30 days.

Early settlement

You can settle your agreement early, although the process depends on the type of agreement you have.

Interest-Free agreements

You can pay off your remaining balance at any time by:

• Selecting the outstanding balance in your online account, or
• Contacting one of our Customer Service agents, who can process the payment for you.

Interest-Bearing agreements

If you have an interest-bearing agreement, you can settle your agreement early by requesting an early settlement quote through your online account or by contacting our Customer Service team.

Once your settlement quote has been generated, you'll need to accept (lock in) the settlement amount and make payment before the quote expires.

Settlement quotes

All settlement quotes are valid for 28 days. Your settlement amount is calculated on the assumption that any scheduled payments due before the quote expires will be made as normal. Because of this, your final instalment is typically not included in the settlement quote and will still be collected on your next scheduled payment date.

Why has my payment failed?

There are several reasons why your payment may have failed. Before trying again, check the following:

• Your debit card details are correct, and your card has not expired.
• The address registered with your bank matches the address on your Zopa account.
• You completed any bank authentication request such as the £0 transaction approval in your banking app.
• Your bank has not declined the transaction due to insufficient funds, security checks or spending limits.
• Your card is not restricted from making online payments.
• If your payment continues to fail, we recommend contacting your bank, as they will be able to confirm why the payment was declined.

If you've checked the above and are still unable to make a payment, please contact our Customer Services team via live chat.