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  • FIRST POST
    • CaptainWales
    • By CaptainWales 10th Aug 18, 7:21 PM
    • 33Posts
    • 0Thanks
    CaptainWales
    Raisin - ICICI and bonus
    • #1
    • 10th Aug 18, 7:21 PM
    Raisin - ICICI and bonus 10th Aug 18 at 7:21 PM
    I have approx. 80k of cash to invest. I am thinking of opening 2 accounts with icici via raisin - would I be able to get the bonus of 80 twice if I did it this way rather than opening 1 account with 80k? Also would opening accounts via raisin be better than going with the family building society (im looking at 1 year fixed rate). Many thanks for any help
Page 1
    • masonic
    • By masonic 10th Aug 18, 7:37 PM
    • 9,949 Posts
    • 7,157 Thanks
    masonic
    • #2
    • 10th Aug 18, 7:37 PM
    • #2
    • 10th Aug 18, 7:37 PM
    It's one bonus per Raisin account, so unless you are part of a couple and don't mind giving money to your other half. See below

    For the second question, calculate the interest you'll get on the cash invested with with Raisin, add on the bonus and divide again by the cash you will invest. Compare that rate with what you'll get at the building society and go with what's highest.
    Last edited by masonic; 10-08-2018 at 8:07 PM.
    • youngretired
    • By youngretired 10th Aug 18, 8:02 PM
    • 232 Posts
    • 125 Thanks
    youngretired
    • #3
    • 10th Aug 18, 8:02 PM
    • #3
    • 10th Aug 18, 8:02 PM
    They changed the T&C's for the bonus when they changed the new bonuses, so now customers can get the bonus each time they open a new savings product:
    "Whether you're new to Raisin or applying for your next fixed term deposit, you can claim one bonus per savings product for depositing the following amounts:
    20 bonus for depositing 10,000 or more
    Deposits between 10,000 and 19,999
    40 bonus for depositing 20,000 or more
    Deposits between 20,000 and 39,999
    80 bonus for depositing 40,000 or more
    Deposits between 40,000 and 85,000"

    So in theory yes you could split the 80K into 2 transactions but I don't know if you could open 2 of the same product to get the 2 bonuses.
    • averageguy11
    • By averageguy11 15th Aug 18, 9:38 PM
    • 376 Posts
    • 96 Thanks
    averageguy11
    • #4
    • 15th Aug 18, 9:38 PM
    Launch bonus
    • #4
    • 15th Aug 18, 9:38 PM
    How quickly are people finding the payment of any 'bonus'?
    I emailed them about two weeks ago claiming a 50 bonus ..nothing yet and yesterday I emailed customer support...as yet no reply.
    • Heinz
    • By Heinz 16th Aug 18, 10:42 AM
    • 11,037 Posts
    • 4,449 Thanks
    Heinz
    • #5
    • 16th Aug 18, 10:42 AM
    • #5
    • 16th Aug 18, 10:42 AM
    I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

    As I understood it, Raisin would then apply to ICICI for an account on my behalf.

    After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

    I enquired about the 50 bonus and was told, "You're too late for that now."

    I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

    Welcome to rip-off Britain once again.
    Time has moved on (much quicker than it used to - or so it seems at my age) and my previous advice on residential telephony has been or is now gradually being overtaken by changes in the retail market. Hence, I have now deleted links to my previous 'pearls of wisdom'. I sincerely hope they helped save some of you money.
    • eskbanker
    • By eskbanker 16th Aug 18, 11:09 AM
    • 8,225 Posts
    • 9,238 Thanks
    eskbanker
    • #6
    • 16th Aug 18, 11:09 AM
    • #6
    • 16th Aug 18, 11:09 AM
    I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

    As I understood it, Raisin would then apply to ICICI for an account on my behalf.

    After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

    I enquired about the 50 bonus and was told, "You're too late for that now."

    I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

    Welcome to rip-off Britain once again.
    Originally posted by Heinz
    As is so often the case on here, someone bandying around the emotive term "rip-off" is using it as a proxy for "I didn't read the terms and conditions" - that may sound harsh and it probably wouldn't be appropriate to say to a newbie, but a very longstanding forum member with over 11,000 posts should know better.

    It was always perfectly clear in what was published on Raisin's site and on MSE that qualification for the bonus was dependent on funding a savings account from their range of offered options, which was, and is, a separate activity from initially depositing with Raisin....
    • Heinz
    • By Heinz 16th Aug 18, 12:17 PM
    • 11,037 Posts
    • 4,449 Thanks
    Heinz
    • #7
    • 16th Aug 18, 12:17 PM
    • #7
    • 16th Aug 18, 12:17 PM
    You may be right but, I'm down to one or two posts a year now.
    Time has moved on (much quicker than it used to - or so it seems at my age) and my previous advice on residential telephony has been or is now gradually being overtaken by changes in the retail market. Hence, I have now deleted links to my previous 'pearls of wisdom'. I sincerely hope they helped save some of you money.
    • youngretired
    • By youngretired 16th Aug 18, 1:39 PM
    • 232 Posts
    • 125 Thanks
    youngretired
    • #8
    • 16th Aug 18, 1:39 PM
    • #8
    • 16th Aug 18, 1:39 PM
    When you say you got a response from Raisin, did you actually apply for the ICICI account at the same time and got the response you have been successful? as it would have given you your reference that you needed to quote on your payment.

    When I first applied I got a message saying that I was unsuccessful in opening the ICICI account and it gave me possible reasons and so I applied again and was successful the second time and it was all down to missing my middle name.

    The Raisin account was opened on my first attempt so it had kept all my details and I just needed to edit my name.
    • harz99
    • By harz99 16th Aug 18, 4:27 PM
    • 2,724 Posts
    • 2,630 Thanks
    harz99
    • #9
    • 16th Aug 18, 4:27 PM
    • #9
    • 16th Aug 18, 4:27 PM
    How quickly are people finding the payment of any 'bonus'?
    I emailed them about two weeks ago claiming a 50 bonus ..nothing yet and yesterday I emailed customer support...as yet no reply.
    Originally posted by averageguy11

    In our case my wife had not got the bonus after 60 days, despite claiming and receiving an acknowledgement email.


    They are now promising payment tomorrow - 64 days!


    As well as emailing it might help to send a secure message on the same subject.
    • ValiantSon
    • By ValiantSon 16th Aug 18, 6:55 PM
    • 2,536 Posts
    • 2,516 Thanks
    ValiantSon
    I opened an account on 1-8-18 after Martin's weekly email and received an acknowledgement from Raisin by email @ 11:00 that day.

    As I understood it, Raisin would then apply to ICICI for an account on my behalf.

    After hearing nothing for 2 weeks, I called Raisin today to be told, "You've registered with Raisin but not applied for an account."

    I enquired about the 50 bonus and was told, "You're too late for that now."

    I suspect they got too many hits as a result of Martin's free publicity and decided to limit their liability - and I was one of those 'overlooked' as a consequence.

    Welcome to rip-off Britain once again.
    Originally posted by Heinz
    You haven't been ripped off. Unfortunately you didn't comply with the terms of the offer and so you are not entitled to it. This may well be down to you misunderstanding, but that is your fault, not Raisin's. You have not been ripped-off: you made a mistake.
    • harz99
    • By harz99 17th Aug 18, 12:03 PM
    • 2,724 Posts
    • 2,630 Thanks
    harz99
    In our case my wife had not got the bonus after 60 days, despite claiming and receiving an acknowledgement email.


    They are now promising payment tomorrow - 64 days!


    As well as emailing it might help to send a secure message on the same subject.
    Originally posted by harz99

    50, just been paid into my wife's current a/c, better slightly late than never I guess.
    • Westie983
    • By Westie983 20th Aug 18, 2:51 AM
    • 4,571 Posts
    • 15,092 Thanks
    Westie983
    How quickly are people finding the payment of any 'bonus'?
    I emailed them about two weeks ago claiming a 50 bonus ..nothing yet and yesterday I emailed customer support...as yet no reply.
    Originally posted by averageguy11
    Hi,

    I got mine on week 2 after opening and funding, but you are told in the email and instructions it could take up to 60 days. Secure messages are probably inundated so you may not get a reply, but if you got the thanks for email us we have opened up a support ticket (or something along those lines) then you will get the bonus, just sit back and wait.

    I did get another email telling me the bonus was on the way, but not everyone got one of these but you may be one of the chosen ones.

    Westie983
    Save 12k in 2018 #10 Total (25000)+15300/12000 = 127.50%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 115.00/365 = 31.50%
    Virtual Sealed Pot #1 Total 1200/1000 = 120.00%
    2 Savers Club 2018 #16 Total (1500)+-470/2000 = 51.50%

    Total 17,685.00/15865 = 111.47%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Jabba_flabba
    • By Jabba_flabba 26th Aug 18, 1:16 PM
    • 72 Posts
    • 27 Thanks
    Jabba_flabba
    In my case I applied for an ICICI account via Raisin on 1 Aug, following Martin's newsletter. I funded it on 6 Aug, and sent an email to claim the 50 new customer bonus on 12 Aug. I have not received a reply to my email and the cashback is not showing in my account. I believe I complied with Raisin's terms, so not sure what's happening about the bonus. I'll give it a few more weeks before contacting them.
    • rangersfc
    • By rangersfc 26th Aug 18, 2:06 PM
    • 56 Posts
    • 22 Thanks
    rangersfc
    Jabba flabba,
    60 days!(that is longer than a few more weeks)
    Regards,
    mrwmartin
    • Jabba_flabba
    • By Jabba_flabba 26th Aug 18, 2:43 PM
    • 72 Posts
    • 27 Thanks
    Jabba_flabba
    Thanks rangersfc. Somehow I glossed over that minor detail. Still, would have been nice if my email had triggered an auto-confirm reply, or something to show that the bonus is in the pipeline.
    • SoozyJ22
    • By SoozyJ22 26th Aug 18, 2:54 PM
    • 3,054 Posts
    • 21,696 Thanks
    SoozyJ22
    I received my bonus today after emailing them on the 18th of July so it looks like those who applied in August will probably another few weeks to wait.
    • Sea Shell
    • By Sea Shell 28th Aug 18, 6:42 AM
    • 976 Posts
    • 1,564 Thanks
    Sea Shell
    Woo-Hoo!! Both our bonuses have arrived in our accounts this morning. (We mature on 18th July).
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • colsten
    • By colsten 28th Aug 18, 10:39 AM
    • 9,327 Posts
    • 8,232 Thanks
    colsten
    (We mature on 18th July).
    Originally posted by Sea Shell
    Congratulations!
    • ROLY9
    • By ROLY9 28th Aug 18, 11:02 AM
    • 6 Posts
    • 0 Thanks
    ROLY9
    Hi just asking, looking to invest some cash, is the 1yr Bond with this Company a secure investment, thank.
    Last edited by ROLY9; 28-08-2018 at 11:08 AM.
    • eskbanker
    • By eskbanker 28th Aug 18, 11:17 AM
    • 8,225 Posts
    • 9,238 Thanks
    eskbanker
    Hi just asking, looking to invest some cash, is the 1yr Bond with this Company a secure investment, thank.
    Originally posted by ROLY9
    It's not strictly 'investing' as such, but saving, which may seem a pedantic distinction but is actually quite important when evaluating the security of your money, in that it's only savings that will be in a position to guarantee to protect your capital.

    Anyway, the safety and security of savings deposits are generally considered to be met by companies where deposits (of up to 85K) are guaranteed by the Financial Services Compensation Scheme, so you need to check that the relevant providers offer this FSCS protection, and ICICI does.

    There's potentially a small risk to the money in between leaving your own bank account and reaching ICICI, in that Raisin use a company called Meteor Asset Management to hold this money temporarily, for further details see https://forums.moneysavingexpert.com/showthread.php?p=74390971#post74390971
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