Biscuit by Zopa
Business Profile
Core Value Proposition
Biscuit by Zopa provides a free-to-open current account with cashback on bills, interest on balances, and high-yield Regular Saver, all accessible in the Zopa app.
Target Customer
UK consumers aged 18+ seeking value in everyday banking, including cashback on bills and higher-interest savings, delivered via a mobile app.
Key Differentiator
Combination of 2% cashback on bills, 2% AER interest on balance, 7.10% AER Regular Saver, no monthly fees, and full app-based money management with card controls and overseas usage benefits, backed by FSCS protection.
Implementation Timeline
Onboarding can be completed in about 5 minutes; value features (cashback and interest) accrue over time, with Regular Saver and balance interest shown as ongoing rates.
Pain Points
- 1Low or no interest on typical current accounts and savings
- 2Lack of cashback on everyday bill payments
- 3Fragmented money management across multiple accounts; desire for an all-in-one app
Key Features
- 1Free-to-open Biscuit current account with 2% cashback on bills
- 22% AER interest on current balance
- 37.10% AER Regular Saver pot
- 4Ability to link other bank accounts and manage money in the Zopa app
- 5Card controls (freeze/unfreeze), Apple Pay/Google Pay support
- 6No overseas card spending fees
- 7FSCS deposit protection up to £85,000
Target Customer Industries
Client Results
- 1Potentially up to £256/year in value from cashback, Regular Saver interest, and balance interest (based on provided example)
- 2Fast onboarding, with account opening in as little as 5 minutes
- 3Customer trust and protection: FSCS protection up to £85,000 and 1.5 million+ customers
Competitive Advantages
- 1High-value rewards in a free current account (cashback on bills, high interest on balance, and a high-rate Regular Saver)
- 2All-in-one app for managing accounts, savings, and cards
- 3No monthly fees and no overseas card fees
- 4FSCS protection and a long-standing, trusted fintech brand
Key Benefits
Additional Product Information
Product Description
Biscuit is Zopa’s current account – free to open, with cashback on bills, interest on balance, and a high-yield Regular Saver, all in the Zopa app with card controls and no monthly fees.
Target Market
UK residents (18+), looking for everyday banking with cashback and savings benefits within a mobile app
Unique Value Proposition
A free current account that uniquely combines 2% cashback on bills, 2% AER balance interest, and 7.10% AER Regular Saver within a single, secure, app-based experience, backed by FSCS protection.
Technical Requirements
Requires the Zopa app; UK residents; 18+; identity verification; available to open in minutes
Pricing Model
Free to open; no monthly account fees; rates and cashback are specified with terms (T&Cs apply)
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