Raisin - ICICI and bonus

CaptainWales

I have approx. £80k of cash to invest. I am thinking of opening 2 accounts with icici via raisin - would I be able to get the bonus of £80 twice if I did it this way rather than opening 1 account with £80k? Also would opening accounts via raisin be better than going with the family building society (im looking at 1 year fixed rate). Many thanks for any help

masonic

It's one bonus per Raisin account, so unless you are part of a couple and don't mind giving money to your other half. See below

For the second question, calculate the interest you'll get on the cash invested with with Raisin, add on the bonus and divide again by the cash you will invest. Compare that rate with what you'll get at the building society and go with what's highest.

youngretired

They changed the T&C's for the bonus when they changed the new bonuses, so now customers can get the bonus each time they open a new savings product:
"Whether you're new to Raisin or applying for your next fixed term deposit, you can claim one bonus per savings product for depositing the following amounts:
£20 bonus for depositing £10,000 or more
Deposits between £10,000 and £19,999
£40 bonus for depositing £20,000 or more
Deposits between £20,000 and £39,999
£80 bonus for depositing £40,000 or more
Deposits between £40,000 and £85,000"

So in theory yes you could split the £80K into 2 transactions but I don't know if you could open 2 of the same product to get the 2 bonuses.

averageguy11

How quickly are people finding the payment of any 'bonus'?
I emailed them about two weeks ago claiming a £50 bonus ..nothing yet and yesterday I emailed customer support...as yet no reply.

Heinz

I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

As I understood it, Raisin would then apply to ICICI for an account on my behalf.

After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

I enquired about the £50 bonus and was told, "You're too late for that now."

I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

Welcome to rip-off Britain once again.

eskbanker

Heinz wrote: »

I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

As I understood it, Raisin would then apply to ICICI for an account on my behalf.

After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

I enquired about the £50 bonus and was told, "You're too late for that now."

I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

Welcome to rip-off Britain once again.

As is so often the case on here, someone bandying around the emotive term "rip-off" is using it as a proxy for "I didn't read the terms and conditions" - that may sound harsh and it probably wouldn't be appropriate to say to a newbie, but a very longstanding forum member with over 11,000 posts should know better.

It was always perfectly clear in what was published on Raisin's site and on MSE that qualification for the bonus was dependent on funding a savings account from their range of offered options, which was, and is, a separate activity from initially depositing with Raisin....

Heinz

You may be right but, I'm down to one or two posts a year now.

youngretired

When you say you got a response from Raisin, did you actually apply for the ICICI account at the same time and got the response you have been successful? as it would have given you your reference that you needed to quote on your payment.

When I first applied I got a message saying that I was unsuccessful in opening the ICICI account and it gave me possible reasons and so I applied again and was successful the second time and it was all down to missing my middle name.

The Raisin account was opened on my first attempt so it had kept all my details and I just needed to edit my name.

harz99

averageguy11 wrote: »

How quickly are people finding the payment of any 'bonus'?
I emailed them about two weeks ago claiming a £50 bonus ..nothing yet and yesterday I emailed customer support...as yet no reply.

In our case my wife had not got the bonus after 60 days, despite claiming and receiving an acknowledgement email.


They are now promising payment tomorrow - 64 days!


As well as emailing it might help to send a secure message on the same subject.

ValiantSon

Heinz wrote: »

I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

As I understood it, Raisin would then apply to ICICI for an account on my behalf.

After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

I enquired about the £50 bonus and was told, "You're too late for that now."

I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

Welcome to rip-off Britain once again.

You haven't been ripped off. Unfortunately you didn't comply with the terms of the offer and so you are not entitled to it. This may well be down to you misunderstanding, but that is your fault, not Raisin's. You have not been ripped-off: you made a mistake.

harz99

harz99 wrote: »

In our case my wife had not got the bonus after 60 days, despite claiming and receiving an acknowledgement email.


They are now promising payment tomorrow - 64 days!


As well as emailing it might help to send a secure message on the same subject.

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