It is human; your money helps real people,
rather than banks [ In a nutshell, it is lending and borrowing between real people, providing a better deal than what you would get with the banks ]
Zopa works by cutting out the banks so both lenders and borrowers get a better, fairer deal. To begin with ZOPA stands for Zone Of Possible Agreement - this is a business term used to describe a productive and mutually acceptable negotiation overlap between two parties - where the lender sells at a rate he or she is prepared to sell at and the borrower buys at a rate he or she is prepared to buy at, both parties are in agreement and no one is left feeling cheated.
As an online semi-social marketplace; it?s not quite your Facebook, but you do get to know a little about who you are transacting with. Zopa has often been described as [ the eBay for money ] where lenders lend money, borrowers borrow money all at affordable rates.
Unlike most of the absurd fees charged by the banks, the rates on loans are highly competitive and there are no sneaky fees or penalties if you want to repay early. Plus you get that benevolent feeling that at least your money is helping real people.
It is safe
All the safety measures banks use, plus a few more. All borrowers are identity-checked, credit-scored and risk-assessed, your money is spread across at least 50 borrowers when you lend 500 pounds or more?
If you have spare cash and would like to invest why not try lending at Zopa? where you can make a healthy return based on the rates you set. All borrowers are credit-scored and risk assessments are carried out, just like the banks. You can lend each borrower as little as 10 pounds to minimise risk and all payments are collected on your behalf. To join and for more details click the URL below :
http://www.zopa.com/member/themaverick