Raisin Review Bank Deposits and Savings Accounts: Complete Guide
Raisin only works with organisations based in the European Union, which ensures the security of deposited money by insuring them up to €100,000 by central banks.
Raisin, with a specific focus on the European market, allows you to open deposits in any nation on the continent. Forget about Spain's limited bank deposit alternatives, where interest rates are infamously poor.
Raisin, together with its German parent company WeltSparen, has played a critical role in assisting over 500,000 clients to invest a remarkable €53 billion since 2012. They have a presence in over 30 countries, including Spain, Germany, the Netherlands, and France.
The most surprising thing is that opening an account with Raisin does not imply any cost for you.
Raisin, like anything else, has pros and downsides that must be considered before making a decision.
Our experts believe that the following are the primary benefits of sultana:
- It provides a higher return on deposits by gathering financial offers from all throughout Europe. There are offers with attractive returns, particularly following the rate rise in early 2023.
- A diverse selection of savings products are handled from a single account on its platform. You may access a wide range of savings options by depositing your funds with Raisin.
- Raisin's system is simple and quick to use because it is entirely online. It will just take you a few minutes to open an account.
- Raisin can provide distinctive products with better terms and profitability because of its bargaining margin with banking institutions. They can gain benefits that are greater to what you might obtain on your own.
- Raisin is absolutely free, and transfers to your account are not charged. They gain from referring customers to financial institutions.
- The funds put with Raisin are completely protected up to €100,000 by investing in European financial institutions.
Tax documentation may be necessary depending on the nation of the organisation with whom you deal.
Raisin offers and promotions for new customers
Currently, Raisin is offering an intriguing promotional offer that provides additional economic incentives to new clients in Spain when they create a deposit.
It is crucial to note, however, that this deal is subject to certain criteria and is only valid for the first product purchased.
Raisin gives new clients who create a deposit the opportunity to get a gift of up to €200. It is crucial to remember, however, that this promotion may not always be accessible. Following that, we go over the criteria that are related with it:
- Raisin offers a €20 bonus for contracts worth between €5,000 and €9,000.
- Raisin offers €50 for contracts ranging from €10,000 to €39,999.
- Raisin provides a bonus of €100 for hiring between €40,000 and €74,999.
- Raisin offers €200 to clients who sign contracts for more than €75,000.
However, keep in mind that the availability and terms of these promotions are subject to change, so it is best to confirm the most up-to-date information at the time of contracting. Taking advantage of these deals might be a great way to increase the value of your sultana investment.
Our Review on: Website Usability
According to numerous evaluations, consumers greatly respect the usability of the Raisin website. Raisin's platform is clear and simple to use, offering a smooth experience for investors. Thus, good feedback emphasises the interface's clarity and logical structure, which makes it simple to identify and evaluate various investment solutions.
Users also value the extra features, which include advanced search filters and investment tracking tools.
Raisin's website has received widespread recognition for its appealing design and user-centered approach.
Users can immediately grasp how to use the platform and acquire the information they want thanks to visuals and simple instructions. Similarly, Raisin has designed a quick registration and verification process that saves time and makes it simple to begin investing.
For all of these reasons, according to user feedback, the usability of the Raisin website is exceptional.
How do I sign up for a Raisin account?
The Raisin account opening procedure is straightforward, requiring only a few basic essentials like as an email address, internet connection, and the following documents:
- Visit www.raisin.com
- Click the "Become a Customer" button.
- Fill out the registration form on four different screens, including your account number.
- Choose a strong password.
- In the email you will get from Raisin, please include the necessary documents.
- You can transmit a copy of your DNI, NIE, or passport by post, email, or upload it to the site.
- A document confirming your address, such as an invoice, bank statement, or tax certificate.
- Make a €0.10 transfer to the Raisin-specified account. Keep in mind that because it is a Belgian account, your bank may charge a transfer fee.
- Raisin will check your documentation and send you an email confirming the establishment of your account once you have completed these procedures.
It is crucial to note that Raisin is required by law to conduct these checks in order to avoid financial crime, such as money laundering, which may result in a minor delay in account opening.
How do I make a Raisin deposit?
Once you have funds in your Raisin account through a transfer, you may select the product and deposit term you want:
- Navigate to the "My Investments" section of your Raisin account.
- Choose "Open One Now."
- Search for the deposit that interests you and click "Contract" to learn more.
- Read the deposit information carefully and double-check that everything is proper.
- Fill out the form and agree to the terms of the contract.
- Select "Hire" from the drop-down menu.
When you have completed all of the processes successfully, Raisin will send you an email confirming the deposit's opening. Please keep in mind that cash transactions might take several days, so you may not receive confirmation immediately.
The process for starting a Raisin savings account is pretty similar. Simply navigate to the "Products" area, then pick "Savings Accounts" and complete the steps outlined above.
What kind of deposits does Raisin have?
According to unanimous review, Raisin offers a diverse range of contractable deposits. We propose that you examine three crucial factors while selecting one:
- Term: For how long do you intend to hold your investment?
- Amount: How much cash are you willing to put up?
- Early cancellation: If you require access to your funds before the end of the term, for example, for an emergency.
Raisin provides three deposit options according on your needs and capabilities.
- If you're searching for a short-term loan (1 year or less), Raisin presently has several options with interest rates exceeding 1% APR.
- Raisin offers deposits with interest rates greater than 1.40% APR for medium-term investments (3 to 5 years).
- If you are looking for long-term investments (5 to 10 years), Raisin offers deposits with rewards of up to 2% APR.
Keep in mind that interest rates on deposits sometimes fluctuate, despite our best efforts to give the most up-to-date information.
Our Review on Raisin client service
Opinions converge to highlight Raisin's great customer service. Their customer support team is always there to assist you and resolve any questions or issues you may have.You will be amazed on how fast and effectively they answer from the time you contact them. Their approach is customer-centric, as seen by the personalised attention they offer to each question.
The Raisin staff is trained to give simple and complete answers, whether you need information on how to become a client, help with video call identification, or advise on expenditures and fees.
Furthermore, their extended service hours, Monday through Friday from 8:30 a.m. to 4:30 p.m., ensure that you may contact with them at a time that is convenient for you. You may reach them by phone at 91 769 37 80 or by email at servicio@raisin.es.
Raisin's Customer Service is, in our perspective, superb. A welcoming, professional, and efficient workforce that aims to give quick and effective answers to all of your questions, exhibiting their dedication to client satisfaction.
Deposits in Raisin are regulated and insured.
Raisin is unquestionably a secure solution for your money and savings. But it's not simply our feelings towards Raisin that indicate this. Here are the main grounds behind this assertion:- Solidity and trust: Raisin has been a well-known and respected firm in the industry for many years. Its track record of success from its inception in 2012, supported by over 170,000 delighted clients, illustrates its dependability and devotion to customer satisfaction.
- Recognised investment: The decision to invest in Raisin by recognised corporations like as PayPal and Thrive Capital strengthens trust in the savings product platform.
- Raisin's headquarters are located in Europe, which is comforting in terms of security and banking laws. This means that your funds will be subject to European laws and financial safeguards.
- Deposit security: Although deposits in Raisin can be made in businesses outside of Spain, the funds are still covered up to €100,000 as long as the financial institution is situated in a European jurisdiction. Raisin only works with European banks and organisations, ensuring the security of your money.
- Raisin serves as a trustworthy mediator between clients and partner banks. Your funds are held with Keytrade Bank, a Belgian branch of the French bank Arkea Direct Bank SA, which is guaranteed by the French government. This implies that if something goes wrong with Raisin, your money will not be lost.
Our Opinions on Raisin Deposit Taxation
It is legitimate to have concerns about the way deposits in Raisin are taxed. As a result, we describe how taxes are deducted on certain assets below:The profit earned on deposits in overseas accounts must be shown on your income statement in the "Moveable capital income" box.
If total wins do not exceed €6,000, a 19% withholding is normally levied. However, the majority of organizations do not make withholdings. While withholding may be used by some entities, it is not prevalent.
To prevent double taxation, you must present the Tax Residence Certificate in Spain of France depending on your country, which you may get on the Tax Agency's website.
It should be noted that this information will be provided in detail in the description of each foreign bank deposit in Raisin.
Always speak with a tax professional to verify that you are in compliance with all relevant tax duties and that your revenues are taxed correctly.
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