Raisin Bank Pros & Cons

dprice8893

Apart from a £50 introduction bonus,  are there any reasons to save via Raisin?

So far, this has been my experience.

Pros: £50 bonus (a no brainer with current rates)

Cons: My current account provider Santander failed to process my initial deposit and locked my account because they presumed it was a scam. 
It took four days and subsequent loss of interest to open the account.
The account isn't viewable on my Charter Bank online profile, only my Raisin account.

In conclusion,  I accept that Raisin show the latest saving deals, however, this is easily researched on sites like MSE. 

Aidanmc

I haven't used Raisin since receiving the welcome bonus.

Starting to use them again now as they offer boost bonus, which new customers can also benefit from for accounts opened before 31/12/21, check terms here  https://www.raisin.co.uk/boost-bonus/

They had an Aldermore 6 month account at 0.86% which i thought was good, but its since disappeared. Looking at aldermore 1 year at 1.3% now.

Aidanmc

No issues transferring funds from Halifax account. Santander seem quick to lock accounts for large new transfers....

Daliah

Raisin is not a bank. They actually use services from Starling Bank to funnel your funds to and from the savings accounts.

dprice8893 said:

Cons: My current account provider Santander failed to process my initial deposit and locked my account because they presumed it was a scam. 

I had no issues making deposits to Raisin from Santander. Your payment was most likely just randomly picked for investigation. Could happen to any payment.

dprice8893 said:

The account isn't viewable on my Charter Bank online profile, only my Raisin account.

That's how these savings aggregators work. Same is true for HL Active Savings. The advantage they claim they offer is that you can see all your savings accounts in one place, and operate them from the one place.

dprice8893 said:

In conclusion,  I accept that Raisin show the latest saving deals, however, this is easily researched on sites like MSE. 

They only show those who they have deals with. If you want a complete picture of all savings rates, you need something like https://moneyfacts.co.uk/. Raisin rarely figures on moneyfacts amongst the top rates these days.

maxsteam

dprice8893 said:

Raisin Bank Pros & Cons

 

Please don't refer to "Raisin Bank". There is no such thing.

gozaimasu

Pros: £50 welcome bonus plus £10 bonus per £5k

Cons: Takes more than 48 hours to open the account. Does not send any confirmation emails of opening accounts. Ignores messages for 24+ hours. Warning: Always take screenshots as proof.

trickydicky14

gozaimasu said:

Pros: £50 welcome bonus plus £10 bonus per £5k

Cons: Takes more than 48 hours to open the account. Does not send any confirmation emails of opening accounts. Ignores messages for 24+ hours. Warning: Always take screenshots as proof.

I can only speak as I find and to date, Raisin have given me a good service.

Have used them a lot when offers are good.

No issues signing up, good coms when opening new accounts.

Emails when approaching maturity, no probs funding or moving money.

Regular bonus offers to open new accounts, no paper work once signed up. Just pick your account and fund it.

Sorry if you have had issues but generally, I have been happy with service.

I do also use HL active savings if the returns are better mind you.

janusdesign

I closed my Raisin account (long before receiving any bonus) - I prefer to have direct relationships with those looking after my savings... I could get better rates elsewhere (even taking into account any bonuses).

personally, regardless of rate or bonus, I wouldn't open any accounts via Raisin in the future.

eskbanker

maxsteam said:

dprice8893 said:

Raisin Bank Pros & Cons

 

Please don't refer to "Raisin Bank". There is no such thing.

But if there was, they'd presumably offer currant accounts....

soulsaver

eskbanker said:

maxsteam said:

dprice8893 said:

Raisin Bank Pros & Cons

 

Please don't refer to "Raisin Bank". There is no such thing.

But if there was, they'd presumably offer currant accounts....

There is such a thing - River Raisin - Wikipedia 

And if there's a river... then there's a bank, ipso facto a Raisin Bank.. lol

bristolleedsfan

dprice8893 said:

Apart from a £50 introduction bonus,  are there any reasons to save via Raisin?

So far, this has been my experience.

Pros: £50 bonus (a no brainer with current rates)

Cons: My current account provider Santander failed to process my initial deposit and locked my account because they presumed it was a scam. 
It took four days and subsequent loss of interest to open the account.
The account isn't viewable on my Charter Bank online profile, only my Raisin account.

In conclusion,  I accept that Raisin show the latest saving deals, however, this is easily researched on sites like MSE. 

If you had searched google for £25 refer a friend link, now minimun £5000 would have got extra £25, and made apparent inconvenience more worthwhile as long as minimun £10000 is deposited both bonuses can be used in conjunction with..........