Raisin welcome bonus

subjecttocontract

In the usual MSE way, I've got to ask......can you open 2 separate £10K accounts and get 2 bonuses ?

eskbanker

subjecttocontract said:

In the usual MSE way, I've got to ask......can you open 2 separate £10K accounts and get 2 bonuses ?

In the usual MSE way, the answer is to read the offer terms (linked above), and clause 2(b) in particular....

flopsy1973

the account I opened through them closed back in July and the money has been transferred to my raisin account so will I be eligible for this loyalty offer?

masonic

flopsy1973 said:

the account I opened through them closed back in July and the money has been transferred to my raisin account so will I be eligible for this loyalty offer?

"To qualify, you must hold at least one active savings account on Raisin UK as of 23:59 on 10th August 2025"

Did you? Seems not.

EthicsGradient

Full Terms and Conditions say:

a) Already hold at least one active savings account (either an Easy Access account, a Notice Account, or a Fixed Rate Bond) on the Raisin UK platform prior to the start of the Qualifying Period; and
b) Open a new fixed rate bond with a term of 12 months or longer during the Qualifying Period and deposit a minimum of £10,000 of new funds in a single order into that fixed rate bond. 
...
d) Withdrawing money from an existing Raisin UK savings account to move into a new fixed rate bond will not qualify; 
e) If a savings account that you already hold matures during the Qualifying Period, the matured funds will not qualify for this offer and cannot be used to fund the new fixed rate bond; 
f) At the end of the Qualifying Period, you must have at least two active savings accounts on the Raisin UK platform, including the new qualifying fixed rate bond.

So you need to have had an active account (no particular balance) on 11th August; to have an active account (no particular balance) on 30th September; and to open a fixed rate one with at least £10,000 of "new money" in the period between. That would seem to be it's OK for the "other account" to close after 11th August, and a different "other one" to open before 30th September.

The "new money" clause was discussed in another thread; whether Raisin would question if money was withdrawn from Raisin in the period and later might have formed part of the "new money", we don't know (they could do a "prove the source of this money was different" demand, perhaps).

Russ66

flopsy1973 said:

the account I opened through them closed back in July and the money has been transferred to my raisin account so will I be eligible for this loyalty offer?

Do you mean your Raisin transaction account? . . . . The one that pays no interest? 

qsk

masonic said:

qsk said:

Robin9 said:

DjangoUnchained said:

what am i missing, you have to deposit £10k and their rates arnt particularly that great ?

You can get 4.35 with Raisin. The £125 is effectively 1.25% . Makes 5.60%

What have you got @DjangoUnchained that's better ?

I thought for the loyalty bonus, you need at least two accounts running so more than £10000?

You had to have an existing account on 10th August (e.g. £100 in a Vida Easy Access Saver), which was a sunk cost. But it would have qualified you even if you closed it on 11th August.

May be of use to the OP depending on the date on which their previous account matured.

Ah, Maybe I misread. I had a fixed-rate matured on 21st August and I withdrew all the funds on maturity. So If I now open a new fixed rate with 10000, do I quality?

There seems to be more conditions:

• 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. 

Can I just open a new easy savings account in addition to a new fixed rate?

Also

• *'New funds' refers to money held in your Raisin UK Transaction Account. 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.

I have withdrawn my money on 21st August. If I redeposit it, does it count as "New funds"?

winkowinko

If you've taken the money out of your Raisin transaction account, i'm not sure how they could conclude that you've put the SAME money back in.

masonic

qsk said:

I have withdrawn my money on 21st August. If I redeposit it, does it count as "New funds"?

Unclear in your situation. They've only explicitly excluded money moved from an active savings account to the transaction account and then to another active savings account, so they have not covered themselves to exclude money withdrawn from the platform IMHO. If they wanted to do that then they could have stated that they'd recorded a snapshot of your balance across all accounts (inc transaction account) on 11th August and the balance at the end of the period would need to be £10k higher than this. They didn't do this.

It's possible the actual checks they perform will include a deposit of £10k from your linked account, followed by investment of £10k into a new product plus any other product held at the end of the period.

If you wanted to cover yourself further, you could re-deposit the funds you withdrew just before 30th September and then withdraw again at the beginning of October. Then your overall balance would be £10k higher on the relevant date. All the better if you stick those funds into an easy access product before making a new £10k deposit into a fix to qualify for the bonus.

flopsy1973

Russ66 said:

flopsy1973 said:

the account I opened through them closed back in July and the money has been transferred to my raisin account so will I be eligible for this loyalty offer?

Do you mean your Raisin transaction account? . . . . The one that pays no interest? 

Yes that's the account sorry. So if I open active account now before 30th sep its too late ? No way round this for me ?