Raisin Platform - Offer published December 2022 16 January at 3:59PM in Savings & investments 4 replies 125 views

pistonbroke1

Perhaps Im just unlucky but I responded to an article on MSE published in December last year, for new account holders to Raisin and a cashback of £45 I think after nominationg one of the published banks to hold your cash.  Offer only available via MSE!   I applied on 21st December via MSE link for a Raisin account and nominated BNF Bank PLC with a 6 mth term account offering 3.45% AER interest rate.   
I kept checking my application which continualyy showed "application uder review"    Even at todays date, when I log in to my Raisin account it still shows "application under review" 
Very shortly after submitting my initial application, BNF pulled their 3.45% offer but gave current applicant 3 days to complete their application. 
Repeated requests to Raison to query status of my application were either answered with excuses about "time of year" "shortage of staff" etc and accompanied by profuse apologies.   My latest requests via e mail for updates remain totally ignored and unanswered.
So, with my initial application apparently "still under review" I have lost the opportunity to take advantage of the initial BNF offer and I am being totally "blanked"   by Raisin itself.
So, am I just unfortunate or has anybody else haad success or problems opening an account thro the MSE link
I note that there has been no mention of Raisin within the MSE forum!

Band7

Raisin has been mentioned many times on this forum, frequently with a problem of sorts. It sounds like your application is being reviewed by the bank you chose. Alas, the forum isn't staffed by MSE, so none of the forum users can do anything to help you with your problem but you could contact the MSE editorial team to make them aware that you are having a problem with and offer they promoted.

flaneurs_lobster

Am I missing something or is Raisin simply an aggregator of savings products? Does a raisin account mean that you don't need to open accounts explicitly with the underlying institutions with which you have holdings? 

Band7

flaneurs_lobster said:

Am I missing something or is Raisin simply an aggregator of savings products? Does a raisin account mean that you don't need to open accounts explicitly with the underlying institutions with which you have holdings? 

No, you are not missing anything. Though behind the scenes, Raisin still open an account in your name with the respective provider(s), and the provider's ID verification and T&Cs still apply. Personally, I don't much value aggregators like Rasin, except if they have a compelling sign-up offer. Very, very rarely they also have the best rate for some kind of account - that gets listed in moneyfacts - but mostly they lag quite a bit behind the market. Some people love the simplicity aggregators promise to offer......

refluxer

@pistonbroke1 I wouldn't waste any more time on this and would just consider it a lucky escape. I've read enough about Raisin on this forum to come to the conclusion that the cashback they sometimes offer just isn't worth the hassle.