Raisin uk

CAROLEDDY

Help have just spent the morning trying to open and deposit into a Raisin UK account.First Lloyds would not let me transfer my nominated amount then I was locked out of the app. Eventually I was able to transfer a small sum but not the full amount. It’s made me nervous of using Raisin as my bank can’t confirm it as a safe option. Am I safe investing in Raisin.

Daliah

Can you clarify how Lloyds did not let you transfer - do you mean the Confirmation of Payee (COP) process could not verify the sort code and account number you entered? If so, this happens with all of the many companies that have not implemented COP, and can be safely ignored as long as you are sure that the sort code and account number you are using is correct.

Why was your app locked? How did you get it unlocked? How were you prevented from transferring the full amount - did you want to transfer more than the Lloyds daily and/or transaction limit?

The transfer issues aside: you are not investing with Raisin - you are just using Raisin as a gateway to savings companies. You need to check whether the savings companies have FSCS protection. There is a lengthy discussion about this on the Raisin website.

However, the Raisin interest rates can usually be beaten quite easily, even if their joining bonus is factored in - check Moneyfacts for the best rates.

CAROLEDDY

Daliah
thahk you for replying to my post, you are correct apparently COP Was the primary factor in Lloyds not allowing my transfer to go through. After I had a couple of goes at transferring my 20K the app refused to load and I just kept going round in circles. I finally got through to the proper department in Lloyds and they were very helpful at unlocking the app for me and as you say Raisin are just a gateway and the investment is with Brown & Shipley.
I will check them out on line before proceeding any further. Once again thank you for your help.
 Carol 

Daliah

Lloyds daily limit for Faster Payments is £25,000. If you need to transfer more, you can go into Branch (with ID), or just spread your transfers over several days. Phone limit is £10,000 per day, so even worse than the app / online.

Brown & Shipley have FSCS protection, so no problem in that regard. But you can get better interest elsewhere for almost everything

• Easy access 0.61% can very easily be beaten by many providers, most notably Virgin Money (1% up to £25K)
• the 0.95% 6 months can also be beaten by Virgin Money, with their instant access (up to £25K)
• the 1.05% 9 month account doesn't have any obvious competitor
• you can get slightly more for the 1 year account - 1.61% at Al Rayan. Tandem Bank (app only) matches the B&S rate of 1.55% and is very easy to open and operate. Obviously you wouldn't get a bonus though, which you should qualify for at Raisin

CAROLEDDY

Dalia many thanks for all your comments it certainly helps clarify everything for me.
 Carol 

talexuser

If you have a partner you can recommend the 50 plus 25 bonus makes it 1.06% for 6 months for 10k, this is what I did.

Antleshow

I have copied below the response I received from Raisin UK (phrases in bold are mine) after contacting them about the transfer of funds, on 12 April 2022, not showing as being received. I was told that the funds had probably been received, but they couldn't confirm that, and the issue was only that the funds were not being displayed.

As this is my first dealings with Raisin, I was concerned that there was some sort of financial skulduggery going on; however having read other posts on here about Raisin I am reassured that my savings will be safe. As for the customer service, it would appear that the poor service received is a recurring theme which will make me seriously consider whether to conduct any further business with Raisin.


"Thank you for your time on the phone just now.

We are currently aware that a subset of Raisin UK customers are experiencing a
balance display issues, where their Raisin UK Balance is not reflecting funds
recently transferred into their Raisin UK Accounts. Management is aware of
this technical issue, and we are working to resolve it as quickly as possible.


In the meantime, please be assured that your funds are safe, we have made
extensive notes relating to our phone conversation, and that this issue is
only affecting the display of transferred funds. 

We apologise for any concern caused by this display discrepancy. Your query is
currently being forwarded to our senior customer service team, and we will be
back in touch with an update soon.

Once the issue has been resolved, we will of course credit your account with a
suitable goodwill gesture to apologise for this negative experience. 
 
Please do not hesitate to contact us for any further information you may
require.

Kind regards,

The Raisin UK Customer Services Team

You can reach Raisin UK Customer Service
by email at service@raisin.co.uk
by phone: +44 (0) 161 6010000  Mo - Fr 8:30 a.m. - 04:30 p.m".

cats246

CAROLEDDY said:

Help have just spent the morning trying to open and deposit into a Raisin UK account.First Lloyds would not let me transfer my nominated amount then I was locked out of the app. Eventually I was able to transfer a small sum but not the full amount. It’s made me nervous of using Raisin as my bank can’t confirm it as a safe option. Am I safe investing in Raisin.

I had the same problem.

cats246

Antleshow said:

I have copied below the response I received from Raisin UK (phrases in bold are mine) after contacting them about the transfer of funds, on 12 April 2022, not showing as being received. I was told that the funds had probably been received, but they couldn't confirm that, and the issue was only that the funds were not being displayed.

As this is my first dealings with Raisin, I was concerned that there was some sort of financial skulduggery going on; however having read other posts on here about Raisin I am reassured that my savings will be safe. As for the customer service, it would appear that the poor service received is a recurring theme which will make me seriously consider whether to conduct any further business with Raisin.


"Thank you for your time on the phone just now.

We are currently aware that a subset of Raisin UK customers are experiencing a
balance display issues, where their Raisin UK Balance is not reflecting funds
recently transferred into their Raisin UK Accounts. Management is aware of
this technical issue, and we are working to resolve it as quickly as possible.


In the meantime, please be assured that your funds are safe, we have made
extensive notes relating to our phone conversation, and that this issue is
only affecting the display of transferred funds. 

We apologise for any concern caused by this display discrepancy. Your query is
currently being forwarded to our senior customer service team, and we will be
back in touch with an update soon.

Once the issue has been resolved, we will of course credit your account with a
suitable goodwill gesture to apologise for this negative experience. 
 
Please do not hesitate to contact us for any further information you may
require.

Kind regards,

The Raisin UK Customer Services Team

You can reach Raisin UK Customer Service
by email at service@raisin.co.uk
by phone: +44 (0) 161 6010000  Mo - Fr 8:30 a.m. - 04:30 p.m".

Yes after all the emails I phoned and got the same response hope all our investment's are save.

Umiamz

I have the 32-day notice Investec account via Raisin and the interest payment for January 2022 has disappeared and account balance reduced. No response from Raisin after a week and no-one answering the phone.

Looking at Trustpilot reviews, it appears that I'm not the only one that this has happened to. Hopefully only a display error with Raisin but the lack of support is frustrating. I'll be closing the account as soon as Raisin sort this out and moving the savings to Chase who are offering a higher interest rate anyway.

SgtAWilson

I am having the same issue as well.  Transferred my funds over a week ago, and still yet to show up in my new Raisin account.  I wish I had of read the reviews first, otherwise I would not have touched them with a barge pole!

Just hope we can get our money out again just as quick!