RAISIN /Starling bank.

Cpm35

I am a new Raisin customer and have a Starling bank account opened by Raisin on my behalf to process my onward investment. Raisin then sent me an email stating that in December 2022 my Starling account will be closed and a new account opened with Clearbank.
Does anyone know reason for this change and who are Clearbank?

Martin_the_Unjust

Sorry it’s off topic and no help but having just looked at Raisin (because I’d never heard of it) I’m curious as to what makes them worthwhile?

Bigwheels1111

Cpm35 said:

I am a new Raisin customer and have a Starling bank account opened by Raisin on my behalf to process my onward investment. Raisin then sent me an email stating that in December 2022 my Starling account will be closed and a new account opened with Clearbank.
Does anyone know reason for this change and who are Clearbank?

They just send the payments to the new savings account you have opened.

Starling took 2/3 days.

Should be quicker now.

Bigwheels1111

Martin_the_Unjust said:

Sorry it’s off topic and no help but having just looked at Raisin (because I’d never heard of it) I’m curious as to what makes them worthwhile?

You can hold several savings accounts with them in one place, with one set of login details.

or 5 accounts with 5 logins for eg.

I have 4 savings accounts with Raisin,Qib, Zenith, Paragon and Aldermore.

Sea_Shell

I queried same a little while ago...

https://forums.moneysavingexpert.com/discussion/6398163/clear-bank-raisin-moving-to-them-from-starling


Hopefully it will make their platform quicker to move money in/out.

EthicsGradient

Clearbank will also give the "confirmation of payee" check, which helps reassure customers the details of their transfers are correct.

Albermarle

Martin_the_Unjust said:

Sorry it’s off topic and no help but having just looked at Raisin (because I’d never heard of it) I’m curious as to what makes them worthwhile?

Sometimes when you want to open a savings account with a new provider, there can be issues. They may request extra ID checks, you may make a mistake or misunderstand some detail of the registration procedure etc . There are many running threads on here about poor service/response from savings account providers. Many are swamped with work and do not respond to queries.
Once you have registered with Raisin (or similar companies) then you can swop between the savings providers offering accounts via Raisin, without having to register with these providers as a new customer.
However there are also threads complaining about Raisin as well......