Isbank 5% 1 Year via Raisin

Swipe

Steve_xx said:

I wouldn't go over 85k with any institution. The debate on here is relating to the name of the bank. Isbank does not appear on the FSCS register. But it seems that the holding bank is. 

I would email both Raisin and Isbank for confirmation.

Millyonare

Look below each Isbank offer on this Raisin page. It says Isbank is FSCS-protected. Not investment advice, etc.

https://www.raisin.co.uk/deposit-protection/

Steve_xx

Millyonare said:

Look below each Isbank offer on this Raisin page. It says Isbank is FSCS-protected. Not investment advice, etc.

https://www.raisin.co.uk/deposit-protection/

Yes. But Isbank does not appear on the FSCS register.

Frank121

I have emailed Rasin for clarfication and will let you know ther response.

Hello Rasin, I have recently opened a IS Bank 1 year fixed bond which comes with FSCS 85k protection. I checked the FSCS website but cannot find IS bank listed. I have found the following listing but it's not clear if my funds are protected because the names differ. Turkiye Is Bankasi As (FRN:204708) Could you please check and confirm? It would be a better if you put the exact name and FRN in the product description to avoid any doubt. Thank you, Frank

Doctor_Who

If you go to this page:

https://www.raisin.co.uk/term-deposit/isb004-isbank-uk/?#bank-product-details

and scroll up it says:

'The FSCS protects deposits made into savings accounts offered by İşbank through our marketplace, and İşbank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Please note, İşbank Ltd is listed on the FSCS website under their official name in Turkish, Turkiye Is Bankasi AS.'

Steve_xx

Excellent find. Well spotted.

Doctor_Who

Yes, not the best web design to have a page load with information off the top of the screen.

Isbank 1 and 2 year rates dropped this morning. Raisin say I have 5 business days to transfer funds to get the 5% rate since I opened accounts before the rate drop. Just need to wait a couple of days for a Zopa pot to mature so that I can transfer funds.

Steve_xx

Doctor_Who said:

Yes, not the best web design to have a page load with information off the top of the screen.

Isbank 1 and 2 year rates dropped this morning. Raisin say I have 5 business days to transfer funds to get the 5% rate since I opened accounts before the rate drop. Just need to wait a couple of days for a Zopa pot to mature so that I can transfer funds.

Yes, I noted tue rate drop. Though I guess if the next Bank of England base rate move is upward, then I'd expect 5% to make another appearance presently.

Swipe

I think they've topped now, regardless of the next BOE hike.

Steve_xx

Swipe said:

I think they've topped now, regardless of the next BOE hike.

Well, yes, we've thought so before. But then just before another base rate hike has come, there's been upward movement on savings rates.