EXPIRED: Gatehouse Bank/Raisin UK offering 2% AER on 12 month fixed term accounts plus £50 bonus

ValiantSon

Steve_xx wrote: »

There is some loss really, during the period that the deposit is held buy Raisin/Meteor, before it goes into the nominated product.

Yes, it is true, that if the money being deposited is coming from an account where it is earning interest then you will not benefit from interest for those five days in that account (although you will still get a full year's interest in the new account). I had misread Esporta65's comment.

However, the £50 bonus should be plenty of compensation for that loss of interest. Assuming you deposited £1,000 (because to deposit more would be pointless) and you were earning 1.5% on that £1,000 in your other account, then your total loss would be less than 21p! (If it was coming from a current account earning much more than 1.5%, e.g. TSB or Tesco, then it would be pretty stupid to move it anyway, as you would earn less interest). Even if it matched the 1.95% rate from ICICI your total loss of interest would be 27p. So we are talking about a bonus that actually equates to somewhere around £49.80. I hardly see this as something to complain about! With the bonus the effective rate would be equivalent to 6.93%, rather than 6.95%: big deal!

Steve_xx

ValiantSon wrote: »

Yes, it is true, that if the money being deposited is coming from an account where it is earning interest then you will not benefit from interest for those five days in that account (although you will still get a full year's interest in the new account). I had misread Esporta65's comment.

However, the £50 bonus should be plenty of compensation for that loss of interest. Assuming you deposited £1,000 (because to deposit more would be pointless) and you were earning 1.5% on that £1,000 in your other account, then your total loss would be less than 21p! (If it was coming from a current account earning much more than 1.5%, e.g. TSB or Tesco, then it would be pretty stupid to move it anyway, as you would earn less interest). Even if it matched the 1.95% rate from ICICI your total loss of interest would be 27p. So we are talking about a bonus that actually equates to somewhere around £49.80. I hardly see this as something to complain about! With the bonus the effective rate would be equivalent to 6.93%, rather than 6.95%: big deal!

Yes agreed, that the £50 bonus makes it a no-brainer.

By the way I wasn't complaining. I was simply mentioning that Esporta65 was in fact correct in their assertion that there is some loss of interest during the interim period between monies deposited with Raisin and said monies arriving in the chosen product.

ValiantSon

Steve_xx wrote: »

Yes agreed, that the £50 bonus makes it a no-brainer.

By the way I wasn't complaining. I was simply mentioning that Esporta65 was in fact correct in their assertion that there is some loss of interest during the interim period between monies deposited with Raisin and said monies arriving in the chosen product.

I understood that you weren't complaining or arguing. Sorry if my reply sounded like I was arguing with you. My intention was to illustrate to Esporta65 (and anyone else who may be disgruntled) that the loss of interest from the previous account was miniscule and more than made up for by the bonus.

Esporta65

I was just stating a fact regarding using an intermediary. The £50 bonus on small investments was never going to last long and has now been withdrawn.

harz99

harz99 wrote: »

My wife is on day 48, 60 days up Monday 13th August....


She had a slight issue and like others sent a secure message 3 days ago , no response to date.

Not impressed with Raisin or their systems one bit.


Day 60 came and went without the £50 being paid, so a secure message and an email sent to them asking why the payment hadn't been made.


A whole 24 hours later, we get a secure message with a brief apology and promise of payment this coming Friday - we shall see.


No response to our email at all.

harz99

harz99 wrote: »

A whole 24 hours later, we get a secure message with a brief apology and promise of payment this coming Friday - we shall see.

£50, just been paid into my wife's current a/c, better slightly late than never I guess.

Westie983

youngretired wrote: »

I sent my "Launch bonus" email today with my full name included as instructed, stating the £50 bonus as the new T&C's state to quote amount claiming. I have received the below response back:

Thank you for contacting us to claim your Raisin UK bonus. We'll process your claim shortly, but please note that to be eligible for a bonus, we must receive your claim within 30 days of funding a savings product from the email address that you registered with.

Depending on the bonus type that you have claimed, there may be further bonus eligibility requirements. You can read more about these on our bonus page or in our FAQs:

[Read our FAQs]

We will send you an email to let you know if your bonus claim has been successful. If you meet the eligibility requirements, your bonus will be paid within 60 days of funding a savings product.

Kind Regards

The Raisin UK Team

Is this what the original old response read re sending an email to let you know if your bonus claim was successful? as I can see from the forum that people received this email just before being paid so after 30 days.

This is a different email to the original offer, the wording that is making me think is the line in red. This relates to the tiers and the different bonus amounts.

I will assume that inless you have funded the account with 10k then you wont get any bonus. Did you open and fund the account before the 5pm cut off on 2nd August?

Westie983

gingercordial

Applied to Raisin/Gatehouse on 11 July and received my bonus on Sunday 26 August, so 46 days. Bit of a surprise as wasn't expecting it to come in on the Sunday of a bank holiday weekend.

My mum applied a day or two later and also received hers though not sure whether on Sunday or Monday.

Elvie100

I applied early July and received my £50 yesterday. Not complaints from me.

Ken68

Same good news here.. Paid deposit 13 July. The raisin bonus went into my currant account on Aug.27th. Will bake a cake.