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

MarkFromCornwall

eskbanker wrote: »

See post #11 above.

OK, thank you, that answers my question. I should have read that before posting.

aj23_2

To be honest to get any kind of decent interest, say £100 for the year or so, you'd have to put in about £6-7k

Obviously the £50 would boost this, so I guess you could just put about £3-4k in it to compensate.

henryandmay

Money has been invested and my Gatehouse account is showing in credit with £1000.
Time to send bonus email?

Rollinghome

MarkFromCornwall wrote: »

Does anyone know how Raisin is regulated? How do I know that my money really will be invested with one of their partner banks? Is it protected in the period between me sending it to Raisin and them depositing it with one of the banks?

(I looked for Raisin on the FSCS and PRA websites but found nothing).

Mr Mason has done the legwork on checking permissions. Raisin are doing the marketing but your money is sent to Meteor Asset Management. That's their bank account details, I've checked. Probably also the reason why Raisin want an email to notify them money has been paid to MAM for the bonus.

Deneb

aj23 wrote: »

To be honest to get any kind of decent interest, say £100 for the year or so, you'd have to put in about £6-7k

Obviously the £50 would boost this, so I guess you could just put about £3-4k in it to compensate.

Eh? 2% is 2% of whatever you put in. From my point of view we're getting 2x a free £50 so we'll just put in the minimum allowed (£1K each) to claim it.

Our £2K was earning interest elsewhere, so for that amount of money, swings and roundabouts really. It's the 50 squids that make the difference

karlie88

henryandmay wrote: »

What is your thinking behind holding off on sending bonus email?

Because I'm not 100% sure whether my Gatehouse Bank savings account has been funded yet. The email I received earlier seems to suggest the account will be open from Thursday 14th June (also says the same when I'm logged in to my Raisin UK account).

On the bonus page it states to email them once the savings account has been funded, as I'm not 100% sure if that's the case then I am happy to hold off.

I have 30 days in total to email them and I only signed up 3 days ago - there is no immediate rush. Even if the offer was withdrawn now then I'd still be eligible for the bonus.

Zanderman

aj23 wrote: »

To be honest to get any kind of decent interest, say £100 for the year or so, you'd have to put in about £6-7k

Obviously the £50 would boost this, so I guess you could just put about £3-4k in it to compensate.

As Deneb says, Eh?
You don't measure 'decent interest' by the total sum received, you measure it by the percentage of the sum invested.
The 2% account here offers 2%, regardless of how much you put in.
The £50 bonus only needs £1000 putting in, therefore the 'best' return is on just £1000 put in.
You can get 2% or more elsewhere on your other £1000s. You can't get the £50 bonus though.

harz99

Raisin/Gatehouse are a bit slow. Two days now my £1k has been showing as ordered/pending investment and the money still with Raisin.

Deneb

harz99 wrote: »

Raisin/Gatehouse are a bit slow. Two days now my £1k has been showing as ordered/pending investment and the money still with Raisin.

You should receive an email confirmation once your deposit has been received by Raisin (strictly, by Meteor) and, if you log in to your account, the dashboard transactions history will indicate the date on which the money is due to be placed in your chosen product.

Because of the intermediary involvement, you can't expect it to be as quick as going directly to the product provider, but you are getting £50 for your trouble.

Both of our deposits were placed with Gatehouse today - within 2 days of confirmed receipt by Raisin.

harz99

And as if by magic, the money has now been shifted with a maturity date of 19/6/19. Email sent claiming the £50.


Looks like approx. 48 hours from sending funds from bank to Raisin/Meteor will be the norm from this and other posts.