Current Thoughts/Experiences of Raisin

jmbasquiat

I'm soon to get a sum from a property sale, and I see that Raisin have some market leading "exclusive" savings rates?  Historic posts on them on this forum don't put them in a very good light.
Does anyone have any recent views experiences of them please?

Sea_Shell

I've had no problems.   In/out money much quicker now they have faster payments on their holding account.

I currently have 9 1 yr fix accounts running, spread throughout the year.

Next one matures mid April.   No reason to think maturity (or withdrawal) won't happen with any drama.

refluxer

Which accounts in particular are you looking at ? Their accounts aren't often at the top of the comparison tables these days and when they do get to the top, the difference can sometimes be fairly small.

For example - their comparison table for their market-leading 1 year fixed rate (4.32%) puts Tandem in second-place (4.25%), but doesn't mention Monument (4.31%) or Atom (4.30%). Of those mentioned, I would go with Atom who I've had excellent experiences with. Tandem also seem to be favourably thought-of.

I'm sure there will be many happy Raisin customers, but they aren't a company I'd use personally as I want access to the 'whole of the market' (rather than being restricted to a limited selection) and I also don't want a middleman in between myself and my accounts, as this (judging by the many threads on here) can sometimes cause unnecessary delays to transactions and hassle if things go wrong.

While only having to submit your details once to access accounts with different banks is definitely convenient, most people on here will tend to join Raisin mainly for the cashback I would imagine. 

subjecttocontract

I've opened a 6 month and a 9 month bond recently. These were market leading rates when opened and I've had no problems. They seem easy & straightforward to deal with.

My wife opened an account and there was a glitch which was fixed within 24 hours after a phone call.

They were recommended by MSE and there was a £40 bonus which was paid.
There is also a £25 recommend a friend bonus available.

Band7

I did sign up to Raisin some time ago as they had a good joining bonus and a reasonable savings account with a low deposit requirement to go with it. I withdrew the lot once I had fulfilled my eligibility for the bonus, and have since seen no reason for going back to them. Their partners' rates are generally very easily topped by going direct with other providers, and a few tenths of a percentage can mean hundreds of pounds of difference in the interest you earn on large deposits.

If you are concerned about FSCS cover: you have temporary high balance cover for 6 months on up to £1m. Or there is NS&I, where you don't need to worry about FSCS. 

You haven't detailed for how long you want to keep how much cash, when you get it, or what your tax rate is. It may make sense to put some money into a cash ISA to reduce your tax liability (Raisin don't offer ISAs). It might also make sense to put some of your money into a pension and/or into an S&S ISA. Impossible to say without further information from you.

Sea_Shell

Sea_Shell said:

I've had no problems.   In/out money much quicker now they have faster payments on their holding account.

I currently have 9 1 yr fix accounts running, spread throughout the year.

Next one matures mid April.   No reason to think maturity (or withdrawal) won't happen with any drama.

For anyone interested...

Just to let you know that my 1 yr fix (Paragon) matured yesterday (11th), money arrived in Raisin account early this afternoon, withdrawal requested, money arrived in linked account about 10 mins later.

So pretty slick.