Raisin - anyone else had issues with delays in transfers?

subjecttocontract

There is a message that comes up when you log in informing of delays on certain dates in April with certain Banks. Maybe you're is one of them. I've always found Raisin transaction take place within 2 working days.

winkowinko

They've been absolutey fine for me. Paid the £100 bonus when they said they would, and returned the deposit + interest on the day of maturity.

Sherbertfizz

It seems that for people who only have fixed term accounts, Raisin works fine, but the problems arise if you have easy access or notice accounts and need to move money around.  My complaint to Raisin has been upheld and I have been offered compensation (although derisory in relation to the amount of time/stress involved in trying to resolve issues).  I am waiting for my £100 payment (promised 11 days ago now) and will close the one remaining account I have with them.  The balance should be paid within two days, but the interest accrued and yet to be applied will not be paid until the end of the following month after the account has been closed.  Really?  In this age of instant transfers?  I won't use them again.

financies

Sometimes it took several days to open a foreign fixed interest acccount after transferring the funding, especially with italian banks, but never problems with withdrawing money, just consider they seemingly only take action once a day.

Milkbutnosugar

One more thing: the Financial Ombudsman can't help you with Raisin UK because Raisin UK is a deposit aggregator - not a bank, not a building dociety and not a payment service.  I know this because I complained to the FOS, waited 2 months and then got the negative reply.  I asked MSE to warn savers about this lack of protection but no result.  This comment is the best I can do to highlight the difference in status and consumer protection between a savings platform/savings marketplace and a bank or building society.  It's better to save directly with the bank or building society up to the £85,000 FSCS limit.