problems transferring money to Raisin

diamond_dave

Recently opened an Raisin account and attempted to send money to them from Santander. After sending £1 to check the transfer I tried to send the bulk of the money but kept getting my Santander account suspended until I contacted their security department who passed the payment and reinstated the account. However, another payment was eventually refused requiring me to hassle them until they made the payment via telephone. No one has been able to explain why all these problems are happening. Has anyone had problems transferring to Raisin from Santander or any other account as all I get is its the algorithm/computer. It eventually took 5 days for the money to finally reach Raisin. 

jonesMUFCforever

'Currently' (LOL ) all banks are 'raising' their fraud level checking on transfers like this. They would ne 'nuts' not to. It is well known that 'Sultan(a)s' of fraud are prevalent at this time of year. It is 'prudent' that your bank checks for this.

Ok I'm running out of words now 

tilestudent

I have made numerous attempts to register with Raisin Bank (I was aware of them before Martin mentioned them on his show last week) and have been unable to register.  I get as far as the registration screen  (from the registration email) , once I have entered my email address, and then the screen just sits there without any further action.   I tried this a couple of times and then rang Raisin Bank and was told that registration can only be made through Google Chrome which I do not use.  Whilst I am not confident this is the case, it seems ridiculous that I am being  told that I cannot register because my browser is Internet Explorer!  If this is the case it certainly makes it difficult to register with them.  
Has anyone else had a similar problem, I must admit I have not come across this problem before. 

RetSol

I opened a savings product with Raisin the other day and transferred £1.00 from Santender to Raisin to make sure that payments will go smoothly to the new account
 
The £1.00 is showing in the Raisin app as "pending" rather than "available".  I am waiting to see if it moves to "available" before transferring more cash.  Looks from the OP as though it might take a few days for the first transfer to go through fully.

Do I need to wait or would it be OK to transfer more cash now? 

ctdctd

tilestudent said:

I have made numerous attempts to register with Raisin Bank (I was aware of them before Martin mentioned them on his show last week) and have been unable to register.  I get as far as the registration screen  (from the registration email) , once I have entered my email address, and then the screen just sits there without any further action.   I tried this a couple of times and then rang Raisin Bank and was told that registration can only be made through Google Chrome which I do not use.  Whilst I am not confident this is the case, it seems ridiculous that I am being  told that I cannot register because my browser is Internet Explorer!  If this is the case it certainly makes it difficult to register with them.  
Has anyone else had a similar problem, I must admit I have not come across this problem before.

Internet Explorer is a discontinued browser and does not get security updates so I'm not surprised Raisin and other financial institutions don't design or test their online offerings against it.

https://en.wikipedia.org/wiki/Internet_Explorer

Rollinghome

diamond_dave said:

Recently opened an Raisin account and attempted to send money to them from Santander. After sending £1 to check the transfer I tried to send the bulk of the money but kept getting my Santander account suspended until I contacted their security department who passed the payment and reinstated the account. However, another payment was eventually refused requiring me to hassle them until they made the payment via telephone. No one has been able to explain why all these problems are happening. Has anyone had problems transferring to Raisin from Santander or any other account as all I get is its the algorithm/computer. It eventually took 5 days for the money to finally reach Raisin. 

It's not just you Santander are picking on; they've had ongoing problems since, in theory, "tightening their security".  They're a mess.

I've had my very long-standing account with them suspended time and again while trying to transfer money to the same Lloyds account, in my own name, that I've regularly made similar transfers to, from the same Santander account, for years.  Being regularly locked out and then spending an hour getting through to them and having it sorted is something I could easily do without. Especially when funds are urgently needed in another account.

If they've cost you time and money, complain and insist on recompense.   I'm no great fan of the compensation culture but Santander seem to need encouragement to stop messing their customers about.

RetSol

I've had my very long-standing account with them suspended time and again

I am going away shortly and I don't want to spend my break on the phone to Santander..... 

I may wait until I get back before completing the funding of the Raisin account.

Or forget it and revert to HL Active Savings which I have used with relatively little drama. 

maxsteam

Yup. Lots of people have had problems transferring funds from a bank with a decent credit rating to a bank with a low credit rating....

https://forums.moneysavingexpert.com/discussion/6297258/problems-transferring-money-to-raisin-account

but Raisin are not even a bank. They are just people who are offering to take your money to a bank for you. If you are determined to use them, I am sure that you will find a way but I feel that you should say "thank you" to Santander for helping to keep your money safe.

Daliah

maxsteam said:

Yup. Lots of people have had problems transferring funds from a bank with a decent credit rating to a bank with a low credit rating....

https://forums.moneysavingexpert.com/discussion/6297258/problems-transferring-money-to-raisin-account

but Raisin are not even a bank. They are just people who are offering to take your money to a bank for you. If you are determined to use them, I am sure that you will find a way but I feel that you should say "thank you" to Santander for helping to keep your money safe.

Deposit protection has nothing to do with credit ratings, and banks don't check any credit ratings when you send money.

The Raisin UK Account (which is actually a Starling Bank account) and every savings account offered by UK banks through the Raisin marketplace are protected by the Financial Services Compensation Scheme (FSCS). Savings accounts offered by banks based in European countries outside of the UK are protected by the European Deposit Guarantee Scheme (DGS). 

IBW1

Re: transferring money, I was surprised at Raisin's advice to just transfer £1 initially to ensure that the process works.  I was advised by my bank that this is seen as a trigger by them to immediately block any subsequent transfers of larger amounts.  If you're worried about transfers - and I don't blame you - my advice is to contact the bank directly. 

More generally, I've also been trying to open an account with Raisin / Starling in order to transfer money to an Isbank savings account which is currently on offer.  Been waiting 10 days now, with only one request for ID received to date.  Tried to set up a similar deal through AJ Bell Investments' savings platform, which also works through Starling... been waiting 2 weeks for a response now.  My credit record is excellent so I know it's not that.  This particular savings model, using up to 4 intermediaries, is flawed and leads to poor customer service.  For the sake of my blood pressure I have decided to split my money & put it into other accounts with lower rates of interest - I will earn a few pounds less in the medium term but live longer (all other things being equal!). 

 

MiserlyMartin

I opened a new 0.8% account with Raisin yesterday. Lloyds bank blocked the transfer for the opening deposit. I had to wait 1 hr and 15 mins on hold to their fraud lines for them to answer. The adviser checked the details then put the payment through. This was last night. The money has still not hit the raisin account which is worrying! Raisin website says you might have to wait until the next day to see a payment in. This was a faster payment ( or was supposed to be). Lloyds bank customer services say they are unable to see the sort code and account number of the payment made so I can't confirm it has been made to the right account and there is nobody they can transfer me to to check it. I advise people to avoid both of these banks!