Opening and managing a Notice Account
In this guide, you’ll find out all that you need to know about opening and managing Notice Accounts at Raisin UK.
As with any savings account that we offer, to apply for a Notice Account through our marketplace, you need to register for a Raisin UK Account:
Please be aware that although you can apply for all savings accounts from the moment that you register with us, you won’t be able to fund any savings accounts until you receive an email confirming that your Raisin UK Account application has been approved, including the details of how to fund your application.
Once your Raisin UK Account is fully open, you can apply for a Notice Account by following these easy steps:
Log in to your Raisin UK Account
You can find the link in the top right-hand corner of any page on our website
Navigate to ‘Our Marketplace’
Once you are in the main dashboard of your Raisin UK Account
Find the Notice Account you want to open
Make sure you click on the flexible savings option in the savings table
Check that you’re happy with the terms, rate and notice period, then click ‘Open account’
Once you have ‘Open account’, you will see more details about the account on a summary page, detailing all the terms and conditions
Enter the amount that you want to deposit where indicated
Confirm your order
Enter the six-digit mobile verification number we send to your mobile phone as an SMS text message and submit your application
Transfer your deposit to your Raisin UK Account
Log into your personal bank or building society’s online banking, and transfer your full deposit amount in as many transactions as needed to your Raisin UK Account (if you haven’t already done so).
Please only use Faster Payments to transfer your money, and only transfer funds to your unique Raisin UK Account number and sort code we sent to you in your welcome email in the payee details. You will also find these details in the top right-hand corner when logged into your Raisin UK Account.
Please be aware that it can take up to 24 hours for transferred funds to become visible in your Raisin UK Account.
Once you’ve transferred your full deposit amount, your application will be reviewed. If your application review is successful, your savings account will typically open in under two business days.
That’s it. In the unlikely event that one of our partner banks require any additional documentation to open your account, we’ll let you know.
Some things to keep in mind
When opening a Notice Account, it’s important to pay attention to the notice period, as this is the amount of time it will take to close the account before your deposit and any interest or profit that you’ve earned transfers to your Raisin UK Account.
Once the amount you told us you want to deposit is available in your Raisin UK Account, we’ll automatically process your application with the partner bank, and you won’t be able to change the amount.
Closing your Notice Account
When you want to withdraw your deposit and any interest or profit you’ve accrued, you’ll need to enter into your notice period to close your Notice Account. You can enter into your notice period by following these steps:
Step 1: Log into your Raisin UK Account.
Step 2: Visit ‘My savings’ and find the Notice Account that you want to close.
Step 3: View the details and in the ‘Availability’ row click ‘Closing your Notice Account’.
Step 4: Follow the instructions provided and enter the six-digit mobile verification number we send to your mobile phone as an SMS text message to confirm that you want to close this account.
Your funds will transfer to your Raisin UK Account up to four days after your notice period elapses. Once your funds become available, why not consider using them to open another savings account through our marketplace?
We hope that this guide helps you, but if you haven’t found what you’re looking for, please read our FAQs for further information.