Getting funds out of Raisin

colsten

Emailed timestamped 22:31 tonight from Raisin advises me that my fixed term deposit savings account has matured, that my deposit and any interest or profit I have accrued will transfer to my Raisin UK Account, and that once my funds transfer to my Raisin UK Account, I can make a withdrawal.

That's around 36 hours after I have emptied my Raisin account, which was, thankfully, a painless and quick transaction.

They really are right at the ball in Raisin :rotfl:

I hope it's not due to Starling, as I am hoping to use my Starling current accounts quite a lot.

Moneybear

I'm glad I found this thread. My bond matures today so I will log in over the next few days to get it into my nominated account.
I am another one that has not been impressed so far. My bonus was 3 weeks late due to the popularity of the product and found customer service to be weak at the best of times. I'm glad I signed up as I have made £80 from it but won't rush to do this again.

Fingers crossed I can have the money in my account by Friday!

chockydavid1983

Wow glad I found this thread. I too was expecting to be able to withdraw on the maturity date. Strange that's not possible in this day and age.

Wearside

My one year bond matured on July 7 the same day as another family member. His funds went in his linked account on the 9th. Mine are yet to appear. Looking at the transactions they seem to be in HSBC holding bank in London. There is an account Sort Code and the 8 figure number. I have phoned Raisin 3 times, since July12 each time they are too busy but I am next. After 10 minutes I am told to leave a message, which I do. So far they have not responded. What more can I do? They do not have Twitter or Facebook accounts!

juststuff123

Hi Wearside

Have you tried emailing? I got the same timed out voice messages as you yesterday. So I emailed and they've responded. Admittedly my requirements were a lot more straight forward than yours.

Wearside

I have managed to speak to an actual person this morning who told me that the funds were now in my Raisin account and could be withdrawn. The issue was Starling Bank delayed payment. Hmmmmmm!! I have withdrawn the funds and will never darken their doors again.

ortolickus

I'd just like to add myself to those who will not be using raisin again. I calculated at the time that i opened my account that the delay before any interest was applied had cost about 7 quid. The 4 days before it is paid out represents another fiver or so. So the rate over the year was more like 1.96% than the 2.02% they offered. Of course that 4 days (which starts today) will no doubt take me over the weekend until Monday so the rate will be even worse.


Edit: to be fair to Raisin the funds were actually made available the next day. But a savings account involving five separate entities (MAM, Raisin, Starling, ICICI and RBS) - many of whose roles i simply did not (want to) understand is still unlikely to see my custom again.

newatc

I was thinking of opening an account with Raisin to help simplify the management of our savings accounts.
Having read this thread, I think I might leave it for a while!
Thanks to all those putting up details of their experiences (good and bad).

Psyduck1980

Like Newatc I was considering signing up to Raisin to get £10 cashback when choosing my next 12 month fixed rate saver but it sounds like it’s not really worth it.

Question - if there is no cashback or other joining incentive what is the point of their business model? Unless I have misunderstood they offer the exact same rates (on a smaller number of products) as those available by applying directly. Confused dot com.