Raisin Reviews 11,861

1.5 years ago, prior to opening an account with Raisin I did research and wondered about the mixed reviews. However, no one who complained submitted an update on the resolution of their issue. Raisin is registered and regulated in Ireland and would have to deal with any customer problem. I'm writing to strike a balance as my experience is entirely positive.
Firtst, Raisin’s interest rates are more than double what is offered by Irish banks.
I wasn’t greedy and decided to invest money in short term deposits to test the system.
While a call center does not appear to exist, every time I emailed a query I received a prompt and detailed response.
The first investment matured after 6 months. On the day the deposit disappeared from the Dashboard but at the same time the “Payout Confirmation” appeared in my Documents.
My deposit including interest was transferred and available in the Raisin account two work days later.
I had no issues transferring the money into my nominated personal bank account.
Once you have familiarized with the app it is easy to find the information relating to the account in My Profile - (Inbox, Documents, Transactions, Withdraw funds etc).
My second deposit matured after 12 months and the last one just recently, again after 6 months.
On each occasion the process was as for the first. I encountered no problems whatsoever. Admittedly the processing time for the third deposit took over 2 weeks but is acceptable considering that the request has to be processed by Raisin before its send to the bank abroad for approval and return.
I received regular status notifications, processing underway or confirmation of my transactions or advising of deadlines.
I’m happy with the interest which is much higher than what I would achieved with any Irish bank. Obviously I have to declare it to revenue.
I normally don't write reviews but knowing that more people will complain than take time to share good experiences I thought I make the effort.
I would recommend Raisin. Make sure you read the guidelines and FAQ’s carefully which provide answers to most questions.

I attempted to open a joint account but got the prompt that my wife's ID couldn't be confirmed so I opened an individual account with the intent of converting it to a joint account later. I deposited a small "test" amount in the account and left it for a month just to see how Raisin did business. Interest paid without any problem and I withdrew a portion of the balance to confirm that no fees were charged. So far, so good. The main issue arose when I attempted to call Raisin customer service. I waited on hold for 18 minutes with no answer. I hung up and called a second time and waited another 15 minutes with the same results so I opted to have them call me back. I was very surprised that I did get a call later the same day. However, I was told that my current individual account could not be converted to a joint account and since they had an issue confirming my wife's ID I was barred from opening a joint account. I immediately withdrew my money and will attempt to completely close the account. I would NOT recommend the Raisin platform to anyone.

You can get better rates elsewhere with less hassle by going straight to the Banks -- see Investopedia or Bankrate for current rates. When I tried to change my external account, I discovered that Customer Service is a nightmare. Reps are incompetent and unable to help with a simple problem. Using a very popular phone and browser (Samsung Galaxy S & Chrome) I could not complete their identity verification process. Reps could only suggest that I try again. After 2 weeks of frustration, I tried downloading and using the Firefox browser, which finally worked. CS should know that. Users should not have to figure it out.

I requested for my refunding back three weeks ago (successfully) through the name on my profile photo and the account is still open but hell no I will put my money on it again…

Worst banking experience ever. They make it extremely difficult to transfer funds and close the account.

Super genial

I am not even sure this company follows banking laws. I never verified my identity, they didn't even ask for my driver's license. You can't add a beneficiary online, you have to call them and no one ever answers their 800#. I would not trust your money at this location. This can't be legal.

Terrible customer service, slow to respond to email and they don't honour refer a friend bonus.

Having sent 10k to raisin on Sep 9th and not having the term deposit opened by the 7th of Oct I cancelled the request. I sent a mail on Sep 26th requesting an update on the status of my td opening, that was followed by 3 more unanswered requests for an update until I cancelled the request. I have persisted with a request for an update since then which have gone unanswered, not great when youre trusting a company with your money

Worst system ever! They only allow you to link one account and they make it nearly an act of god to change it. I have been trying for a week with no success. I eventually moved my money back to my old savings account. Yes the APY is the best out there, but the service is also.

Transferring money is a pain in the ass also.

Horrendous customer service. After 4 calls and atleast 6 emails, a sinple change of account has not happened

Hands down one of the worst banking service experience I have encountered.

Pls be warned, I feel i made a huge mistake signing up for them

Its as if they intentionally try to
Not understand you. Awful experience. My original institution closed. Raisen refuses to send check to my home. It’s a nightmare .

I have a very sizable amount of money in a half dozen CD bank accts through raisin. Never had a problem. If you're looking for high rates, especially with no-penalty CD's, this platform is the best. Simple to use. Simple to get the acct opened. Simple to close. May take a couple days to get it funded or get your money out, but I have found that to be the case in most online bank accts through ACH transfers. The initial opening of the Raisin acct is somewhat more involved, naturally. But once you get it going its a breeze. Everything under one umbrella and transferring in or out is a cinch. Never had a problem with contacting customer service and getting quick results. Never had to pay any fees. Just a great platform for finding and hooking up with great interest rates to grow my income. It is not a platform if you are looking for everyday or intricate banking.

Raisin is legit but it's not super easy to use. The customer support is terrible too. It's not a bank and the concept of a bank is not present. You can transfer your money through Raisin to various banks. The rates are higher than other banks but if you get the point it's easier to use. The only negative is that you can only have one funding account per 60 days. The customer service is not great but you won't find a higher rate, they even have no penalty CD's.

Considered opening an account but thankfully, I managed to steer clear having had initial doubts which were backed up by these reviews!

deposits were closed without notice while they still had months to run. interest for the 3-month term has not been credited. pure theft, definitely do not recommend Raisin

I've had a GREAT experience with Raisin. It's really easy to see which banks have the best Money Market and CD rates. It's easier than other methods (like NerdWallet) to compare rate of returns on FDIC-insured bank accounts. Very easy to set up, transfer, and track money.

Raisin is great if you understand the concept. First, its not a bank. All these negative reviews calling it a bank. Do your research FIRST, and understand where you are putting your money. VERY high rates, and a bare bones, simple interface. I've had zero problems, while earning top rates. Statement every month showing the banks you are invested in and interested earned. Thanks Raisin !

I imagine raisin is very agreeable to those who feel the need for such service. Raisin advertises some of the highest yield CDs. They say they will send you your 1099 tax forms. Personally I can manage my own CDs and I've never found it necessary for anyone to handle my interest income report to the IRS. My purpose in buying CDs is to earn interest for myself using my own money. The fees involved negate the high advertised rates. In the end you will earn less than if you bought a lesser rate CD on your own w/o Raisin. I can't see giving over a portion of my earnings to an exploitive corporation but obviously some people do.