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Raisin Interest Rates

subjecttocontract
subjecttocontract Posts: 3,132 Forumite
Part of the Furniture 1,000 Posts Photogenic Name Dropper
in Savings & investments
Has anyone contacted Raisin about their web site showing incorrect fixed interest rates ?
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  • trickydicky14
    trickydicky14 Posts: 1,464 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    subjecttocontract said:
    Has anyone contacted Raisin about their web site showing incorrect fixed interest rates ?

    I’m confused, what interest rates are we talking about please


    I choose the rooms that I live in with care,
    The windows are small and the walls almost bare,
    There's only one bed and there's only one prayer;
    I listen all night for your step on the stair.
  • subjecttocontract
    subjecttocontract Posts: 3,132 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Fixed term interest rates on accounts opened via Raisin. The rates shown are different to those fixed rates quoted when the accounts were opened.....some higher, some lower. 
  • Doctor_Who
    Doctor_Who Posts: 917 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    subjecttocontract said:
    Has anyone contacted Raisin about their web site showing incorrect fixed interest rates ?
    Not yet, but I've taken screenshots for all of my accounts on Raisin. It was discussed yesterday evening in the Top fixed discussion thread.

    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • subjecttocontract
    subjecttocontract Posts: 3,132 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I'm aware of that, I read the discussion but there was no definitive answer and the discussion ended.
    I have a few fixes via Raisin here are 2 examp!es..... Zenith 6 month fix taken at 3.5% that's showing 4.1% and an FCMB 9 month fix taken at 4% that's showing 2.1% ! 
  • Doctor_Who
    Doctor_Who Posts: 917 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    I'm sure it's just a website error that will be corrected, I have messaged them through my account. If you're concerned about your rates I suggest you also send them a message.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • subjecttocontract
    subjecttocontract Posts: 3,132 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I have also messaged them.
    It needs to be fixed quickly..... it's been at least 24 hours now !
  • dgpur
    dgpur Posts: 213 Forumite
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    My Ahlli account with Raisin showed an inaccurate 5.15% yesterday. It matured and I accessed it today, and it was at the expected rate of 2.57%.
  • Doctor_Who
    Doctor_Who Posts: 917 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    So it's just incorrect figures being displayed on the Raisin website. Remember, your money is with the partner banks earning the interest rate that you signed up to. I'll update when I get a response from Raisin.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
  • subjecttocontract
    subjecttocontract Posts: 3,132 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    That makes it sound like it's nothing to do with Raisin. It's Raisins platform and they have a responsibility to publish correct data.......not leave their website in a total mess. We have no contact with the individual banks. Raisin caused the problem & Raisin need to fix it. I'm astonished it's still not been fixed !
  • Doctor_Who
    Doctor_Who Posts: 917 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    I'm not overly concerned at present. The money is not held with Raisin, but with the individual partner banks and there is full FSCS protection. As dgpur has confirmed, the correct interest rate is being applied to matured funds. Yes, there is an issue with the interest rates displayed on your account in the Raisin website and this has been brought to their attention by at least two of their customers. I am willing to give them a few days to sort out the issue. If you feel differently, then I suggest you make a formal complaint to Raisin.
    'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.
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