Zopa investors unable to access funds during maintenance work
Zopa has told investors that they will not be able to make changes to their investments while the platform carries out essential maintenance to its website from 22 to 29 January.
The peer-to-peer consumer lending platform told Peer2Peer Finance News that the work is essential to improve the service it offers investors in the sense every lender must occasionally carry out maintenance.
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Zopa said that during this time period, lenders won’t be able to make changes to their investment, such as updating their reinvestment settings or withdrawing money from their holding account.
However, Zopa highlighted that repayments will still be applied to investors’ accounts over this period and lenders will still be able to view their investment’s performance in a ‘read only’ mode.
The platform’s app will be unaffected by the work, so investors can keep track of things there as normal.
The platform also warned that it won’t be accepting any new loan sale requests from 18 January until the work is completed on 29 January.
Zopa said that on 20 January, the platform will need to autocomplete any loan sales that are in progress as part its efforts to improve the underlying technology its loan sales run on.
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If lenders have a loan sale running at this time it will be stopped and they will need to request another once Zopa is back online on 29 January.
The platform said that matching newly-invested money with loans will be significantly reduced over the maintenance process, which means queue times will increase.
Furthermore, Zopa added that the work may also affect some of its emails it sends investors so those waiting for a confirmation email should not be concerned if they don’t receive it.
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“Thanks for your patience while we do this work, we think the improvements will be worth the wait,” Zopa said in an update to investors.
