Zopa Bank Car Finance Claim — PCP & HP Compensation 2026
Scheme status (updated 5 August 2026): parts of the FCA motor finance redress scheme are temporarily suspended while the Upper Tribunal considers legal challenges. Lenders do not currently have to calculate or pay compensation under the scheme, the original decision and payment dates no longer apply, and no payment under the scheme is guaranteed. If the scheme proceeds, first payments are expected in 2027 at the earliest. Any dates mentioned below were set before the suspension.
If you financed a vehicle through Zopa Bank (formerly Zopa Limited) between 6 April 2007 and 1 November 2024, you may be entitled to compensation under the FCA confirmed motor finance redress scheme (PS26/3, 30 March 2026). Zopa entered the car finance market as a digital lender and is FCA-regulated. Average payout: £829.
Who Is Zopa Bank?
Zopa Bank Limited was originally founded as a peer-to-peer lending platform before transitioning to a licensed bank. It provides personal loans and car finance through digital channels and dealer partnerships. Zopa received its full banking licence in 2020 and has grown its consumer finance portfolio including motor finance. As a third-party lender without a manufacturer brand association, Zopa does not benefit from the captive lender exclusion — all three PS26/3 grounds apply in full.
Is Zopa Bank Covered by PS26/3?
Yes. Zopa Bank Limited is FCA-regulated and all regulated PCP and HP agreements it arranged between 6 April 2007 and 1 November 2024 are within scope of PS26/3. The complaint deadline is 31 August 2027.
Three Grounds for a Zopa Car Finance Claim
1. Discretionary Commission Arrangements (DCAs)
Prior to 28 January 2021, dealers arranging car finance through Zopa could vary the interest rate within a lender-defined range. Where this was not disclosed, you are entitled to compensation.
2. Unfairly High Fixed Commission
Post-January 2021 agreements may qualify where the fixed commission met the FCA threshold of 39% of the total cost of credit and 10% of the loan amount. Given Zopa’s positioning as a competitive digital lender, this threshold is worth checking on any post-2021 agreement.
3. Contractual Ties
Where Zopa had exclusive or preferential arrangements with specific dealer networks that were not disclosed to the customer, the contractual tie ground may apply.
How Much Could You Receive?
The FCA confirmed average payout is £829. Use our car finance claims calculator to estimate your specific payout.
Scheme Timetable (Original Dates, Now Suspended)
Post-April 2014 agreements: Complain before 30 June 2026 → determination by 30 September 2026 → payment by November 2026
Pre-April 2014 agreements: Complain before 31 August 2026 → determination by 30 November 2026 → payment by January 2027
Final complaint deadline: 31 August 2027
How to Complain
Submit your complaint to Zopa Bank Limited using the contact details on your original agreement or via the FCA’s official lender list at fca.org.uk/consumers/car-finance-complaints/list-lenders. Include:
- Your full name and date of birth
- Your address at the time of the agreement
- The vehicle make, model and registration number if known
- The approximate start date of the finance agreement
- A statement that you are complaining about undisclosed commission arrangements under the FCA motor finance redress scheme (PS26/3)
No paperwork? See: Claiming Without Paperwork
Related Pages
Multiple Car Finance Agreements
Frequently Asked Questions
My agreement says Zopa Limited not Zopa Bank. Are they the same?
Zopa transitioned from Zopa Limited (peer-to-peer platform) to Zopa Bank Limited when it received its banking licence. For PS26/3 purposes, check the FCA’s lender list for the correct complaint entity for your specific agreement date.
I arranged my Zopa car finance online, not through a dealer. Am I covered?
If the agreement was arranged through an FCA-regulated broker or dealer and met the criteria (PCP or HP, between April 2007 and November 2024, personal name), it is within PS26/3 regardless of whether it was arranged online or in person.
I financed after January 2021 through Zopa. Am I eligible?
Yes. PS26/3 covers agreements up to November 2024 under the unfairly high fixed commission ground.
I have no paperwork from Zopa. Can I still claim?
Yes. A soft credit check will show your agreement. See: Claiming Without Paperwork
Think You May Have a Motor Finance Claim?
The FCA estimates average compensation of around £830 per eligible agreement, but eligibility and payment amounts vary. Some customers may receive nothing. Complaints about agreements started from 1 April 2014 should be submitted by 30 June 2026 to be considered under the earlier timetable. Different dates apply to older agreements. The scheme is currently subject to legal challenge, so dates and payment timings may change.
