Raisin bonus - cautionary tale re: product opening order

HardCoreProgrammer2

I opened a Raisin account, added money. I then opened an easy access product and then a fixed rate product on the same day.
I wrote to bonus@raisin.co.uk (with "Welcome bonus" as subject, my name, Raisin account sort code and number) requesting the £50 welcome bonus.
The interest rate of the easy access product lagged behind, so I closed it after about 2 months.

Just found out that I am not eligible for the bonus, because it is the first product which counts. For easy access accounts, it is necessary to keep the balance above a certain level for 6 months to qualify. Had the 2 products been opened the other way round (i.e. fixed rate product first), then it would have been no problem.
Let that be a lesson for those new to Raisin.

trickydicky14

HardCoreProgrammer2 said:

I opened a Raisin account, added money. I then opened an easy access product and then a fixed rate product on the same day.
I wrote to bonus@raisin.co.uk (with "Welcome bonus" as subject, my name, Raisin account sort code and number) requesting the £50 welcome bonus.
The interest rate of the easy access product lagged behind, so I closed it after about 2 months.

Just found out that I am not eligible for the bonus, because it is the first product which counts. For easy access accounts, it is necessary to keep the balance above a certain level for 6 months to qualify. Had the 2 products been opened the other way round (i.e. fixed rate product first), then it would have been no problem.
Let that be a lesson for those new to Raisin.

I’m not sure what your first account was from your message, but I do know Raisin have a 6 month minimum requirement on those accounts, to be fair they are not going to shell out money to folks who open and close accounts as soon as the reward has been paid out. What was your first account.

HardCoreProgrammer2

I thought that it is clear enough, but apologies if this is not the case.
The first account was an easy access product. The second account was a fixed rate product (1 year fixed). Both accounts were opened on the same day, the second one immediately after the first one.
The second account is still there, but the first one was closed after the rate dropped. I mistakenly thought that it would be fine if I kept 1 of the 2 accounts which were opened on the same day.

trickydicky14

HardCoreProgrammer2 said:

I thought that it is clear enough, but apologies if this is not the case.
The first account was an easy access product. The second account was a fixed rate product (1 year fixed). Both accounts were opened on the same day, the second one immediately after the first one.
The second account is still there, but the first one was closed after the rate dropped. I mistakenly thought that it would be fine if I kept 1 of the 2 accounts which were opened on the same day.

Thanks for clarifying that point, as you say, you have been unlucky in the way you set up your accounts. I always new 6 months was the minimum period to obtain the reward but did not know it was based on the first account opened.

labp04

Have you written to them to explain your story and "appeal" their decision? I find them quite helpful and co-operative, so it might be worth a try.