Raisin Chat

Financial Chat
1

I can’t see a standalone topic for Raisin so hopefully I’m right and won’t be admonished.

Anyone here using Raisin? Some questions:

Are they reliable?
If you’ve got a savings account with one of their institutions can you contact that institution direct or do you have to go through Raisin?
After the tax year end do you get a Certificate of Interest Received for tax purposes from Raisin or the Saving’s institution?
I understand you can move your money around between the different institutions. Any experiences of this?
If you’ve used them what are your experiences good and/or bad?
Personally, I find their website a bit random.

1 Like
2

I didn’t see where this was and thought this was going to be a very niche snack chat!

3 Likes
3

Obviously a niche product which no one uses or has an opinion. No news is good news.

4

I haven’t used Raisin myself, however I feel it’s the same as the HL cash account, Flagstone, and so on, where you get better rates going directly to the providers on offer. I’ve only ever heard of Raisin previously through the MSE website.

1 Like
5

There seems to be mixed reviews on MSE although the good ones prevail with the bad one’s seeming to have irrational gripes. I’ve used it over the last three days and it seems to be OK although the transfers to the bank I’ve chosen are not immediate. Transfers in are held by ClearBank (so they are FSCS protected) and are imediate generally as they are effected via FPs and then they are transferred to the chosen savings institution.

6

I used Raisin once a couple of years ago for a 90-day notice account. I didn’t have any issues.

1 Like
7

Reviving old thread. He’s been with Raisin over a year.
Downside is that due to it going tough a separate clearing account, when transferring money in or out, it takes at least 1 additional working day.
Also, if you want to change your external nominated account (I.e the account you fund it with) you have to submit a ticket. Again that can take a day.

Other than that, it’s a good concept and works as intended. From the banks/accounts on offer that I’ve checked, the rates are marginally better via Raisin rather than going direct.