Raisin awful onboarding/admin vs. Hargreaves Lansdown

Albermarle

subjecttocontract said:

I don't know.
This has been discussed on the forum before and I believe the word is that neither Raisin or the providers report interest to HMRC....so yes very much a grey area that needs sorting by the tax people.

I keep records of interest I receive throughout the year and include Raisin in my self assessment but I suspect there must be a few individuals who will conveniently forget to include their income from platform providers. Then there are those who don't submit an SA........what happens there !

Maybe they will get a big bill a few years down the line.

Milkbutnosugar

My problem with Raisin is the demand for private documents that no other bank, building society or investment platform has asked for.  Their terms and conditions (if you open an account) allow an open-ended fishing expedition without in my opinion reasonable grounds.  As a result, I made a complaint to the Financial Conduct Authority today, 4th February.  Although Raisin advertise easy saving, it's been a tiresome and clumsy company to deal with.  I think a bank or building society have more expertise and customer care.  Raisin is a savings aggregator - it isn't a bank.

dsw_123

I tried opening an account with Raisin,. They happily took my money but it never made out of their platform into a savings account.  When i queried what had  happened they said they Bank had got all the funding they wanted so didn't want my money.  When I asked "so when were you going to tell me this ? " they basically said not our problem.  At that point I withdrew my money and moved it HL whose platform is much better and they actually invest the money you give them.