£125 for existing Raisin customers who put at least £10,000 in a fixed-rate bond

Ashen

According to the terms:

You will not qualify for the bonus if you use money withdrawn from an existing savings account during the qualifying period or from a fixed rate bond that matures after 23:59 on 10th August 2025 on Raisin UK.

If I withdraw a matured bond to my bank, then redeposit a few days later I'd have thought it should qualify as new money? They don't know whether it is or isn't. 

subjecttocontract

I agree with you. I should think what they are referring to is a Raisin account that matures, Raisin put the matured funds into the transaction account and the same money is then used to fund a qualifying account. 

EthicsGradient

Ashen said:

According to the terms:

You will not qualify for the bonus if you use money withdrawn from an existing savings account during the qualifying period or from a fixed rate bond that matures after 23:59 on 10th August 2025 on Raisin UK.

If I withdraw a matured bond to my bank, then redeposit a few days later I'd have thought it should qualify as new money? They don't know whether it is or isn't. 

If you have another account with them during the period, then that should be fine. I think the idea is to stop people with just one Raisin account rolling it over. The terms also include

"At the end of the qualifying period (00:01 on 11th August 2025 to 23:59 on 30th September 2025), you must have at least two active savings accounts on the Raisin UK platform, including the new qualifying fixed rate bond. "

I guess if you also open another small account during this period, it should fit the terms - if you have a fixed rate bond maturing during the qualifying period, I'd suggest opening the 'other account' before it matures, then you'll have qualified continuously, and as you say, they can't tell if funds 'ultimately' came from a bond that matured a few days earlier. Non-continuous qualification might get them quibbling, and they have a "reserve the right" clause.

winkowinko

I did have an account with them on the 11th of August, but it matured 2 weeks later, and I withdrew the money.. 

Presumably the only way I can get this offer now is to have 2 new active accounts by the 30th Sept?