Is Zopa Biscuit Safe? UK Safety and FSCS Guide 2026

Last updated: 9 June 2026

By Stiv · Design, technology and personal finance

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Zopa's Biscuit bank account has made waves with its 2% interest, cashback on bills and a 7.10% AER Regular Saver. But before handing over your money, you probably want to know: is Zopa Biscuit safe? The short answer is yes. Zopa is a fully licensed UK bank, regulated by the FCA and PRA, and your deposits are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS). Below, we break down exactly what that means and what you should know before opening an account.

Is Zopa Biscuit safe? The quick answer

Yes, Zopa Biscuit is safe. Zopa Bank Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and the Financial Conduct Authority (FCA). Eligible deposits are protected up to £120,000 per eligible person per UK-authorised bank, building society or credit union by the FSCS (since 1 December 2025). This limit rose from £85,000 on 1 December 2025, so you now get significantly more cover than before.

In practical terms, if Zopa Bank Limited were to fail, the FSCS would reimburse you up to that £120,000 ceiling. This is the same level of protection you get with any major high-street bank. So from a regulatory standpoint, your money is just as safe in Biscuit as it would be in Barclays, HSBC or Lloyds.

Who regulates Zopa?

Zopa Bank Limited holds a full UK banking licence. Specifically, the PRA authorises it to accept deposits, while the FCA oversees its conduct with customers. You can verify this yourself on the FCA's public register (firm reference number 800542).

Because of this dual regulation, Zopa must meet the same capital, liquidity and conduct standards as every other UK bank. In addition, the bank undergoes regular supervisory reviews. This is worth noting because some fintech apps (such as e-money providers) do not offer FSCS protection at all. Zopa does, and that makes a meaningful difference to your safety.

What does Zopa Biscuit offer?

Now that we have covered the safety side, here is a quick look at what the account actually includes. For a full breakdown, check out our Biscuit bank account review.

2% AER interest on your balance

You earn 2% AER (1.98% gross) variable on your full current account balance with no cap on how much you can earn. This rate is fixed for 12 months from account opening and becomes variable after that. Source: Zopa.

2% cashback on Direct Debits

Biscuit pays 2% cashback on up to £125 of Direct Debits per month. That works out at a maximum of £30 cashback annually, which is modest but still cashback on bills you are already paying. All Direct Debits count, not only household bills. Source: Zopa.

7.10% AER Regular Saver

This is the standout feature. You can deposit up to £300 per month into a linked Regular Saver pot paying 7.10% AER (6.87% gross, variable) for a six-month term. You can withdraw at any time, and Zopa lets you replace withdrawn funds within the same month (up to the £300 cap). Source: Zopa Regular Saver page.

Fee-free spending abroad

Biscuit uses the real Visa exchange rate with no added fees from Zopa. It works well as a travel card alongside your main account. Note that ATM withdrawal fees may apply when using your card abroad.

Easy access savings

Zopa offers easy access Access Pots paying 3.25% AER (3.20% gross, variable) to all customers. These are separate from the Biscuit current account balance and the Regular Saver. Source: Zopa easy access savings page.

Smart app features

On top of all that, the Zopa app includes instant notifications, card freeze controls, Apple Pay and Google Pay, spending analytics and the ability to connect external bank accounts.

What are the drawbacks?

No account is perfect, and Biscuit has some notable gaps you should consider before signing up.

No cash or cheque deposits

Zopa is entirely digital. If you regularly handle cash, this will not work as your only bank account.

No full CASS switching support

As of June 2026, Zopa does not fully support the Current Account Switch Service. You will need to move Direct Debits across manually if you want to earn cashback on them.

Introductory rates are time-limited

The 2% interest rate is fixed for your first 12 months. After that, it becomes variable and could drop. Similarly, the Regular Saver runs on a six-month term and the 7.10% AER rate is variable.

Digital-only support

There are no branches. Everything runs through the app or in-app chat. Zopa's customer support operates Monday to Saturday.

How does Zopa Biscuit compare to alternatives?

Biscuit sits in a competitive space alongside other digital current accounts. For instance, if your household bills exceed around £550 per month, Santander Edge may return more cashback despite its £2 monthly fee. Meanwhile, Chase offers 2% cashback on eligible everyday card spending categories (capped at £20 per month, with monthly qualification criteria from June 2026), which suits a different spending pattern. We have compared the two head to head in our Zopa Biscuit vs Chase guide if you want the full picture.

For a free account with no monthly fee, Biscuit's combination of balance interest, bill cashback and a 7.10% Regular Saver is hard to match right now.

How to open a Zopa Biscuit account

Opening the account takes about five minutes. You need to be a UK tax resident aged 18 or over. Zopa runs a soft credit search during sign-up, so applying will not affect your credit score.

The Zopa Biscuit refer-a-friend offer has ended. No active referral bonus is currently running. Check the Zopa Biscuit referral page for any current offer. T&Cs apply and offers may change.

Open a Biscuit account

FAQs

Is Zopa Biscuit safe for large balances?

Eligible deposits are protected up to £120,000 per eligible person per UK-authorised bank, building society or credit union by the FSCS (since 1 December 2025) with Zopa Bank Limited. If you hold more than that with Zopa, the excess would not be covered. For joint accounts, each holder gets £120,000 of protection, giving a combined total of £240,000.

Will applying for Zopa Biscuit affect my credit score?

No. Zopa uses a soft credit search during the application process, which does not appear on your credit report and will not affect your score.

Can I use Zopa Biscuit as my main bank account?

You can, although it works best as a secondary account. Because there are no cash deposits and no full CASS switching, most people pair Biscuit with a traditional current account.

Does Zopa charge any monthly fees?

No. The Biscuit account is completely free to open and use. There are no monthly fees or hidden charges.

What happens after the first 12 months?

The introductory 2% interest rate becomes variable. Zopa will notify you of any changes, but the rate could go up or down after the introductory period ends.

Can I deposit cash into Zopa Biscuit?

No. Zopa is a digital-only bank and does not accept cash or cheque deposits.

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This article is for general information only and does not constitute financial advice. Banking products change frequently, and your personal circumstances may affect what is suitable for you. Always check the latest details with the provider before applying. CoolCuration may earn referral commissions which help support the site at no extra cost to you.

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