How to use Raisin UK: a quick start guide

Take the time to consider and compare different types of savings accounts, their benefits and interest rates, and weigh up which one is best suited to you. The important information you’ll need to know, such as interest rates and term length, are set out clearly so you can make easy comparisons. The different types of savings accounts available through our marketplace include:

The next step is to make a deposit. 

You can transfer money from your bank or building society using your unique Raisin UK Account sort code and account number, which you’ll find on your dashboard when you log in, as well as on the welcome email we send to you.

Some of our customers have informed us that their bank or building society displays a Confirmation of Payee (fraud warning) message or blocks transfers to their Raisin UK Account. Before transferring larger deposits, we recommend initially transferring a small amount to validate your Raisin UK Account, such as £1, and confirming that this amount is available in your Raisin UK Account (within 24 hours). If you get stuck or are unsure about making a transfer, refer to our guide on how to transfer money to your Raisin UK Account.

Once the money has reached your Raisin UK Account, your savings account application will be reviewed, and once approved, your money will automatically transfer into your new savings account. It should take less than two business days from when your full deposit amount is available in your Raisin UK Account to when your savings account opens.

Depending on the type of savings account and term you have chosen, you may need to take action as your account reaches maturity. 

If you choose to open a fixed rate bond, you can either renew your account (if a renewal offer is available) or simply wait until your account reaches its full term, when your original deposit and any interest or profit earned will transfer to your Raisin UK Account. In that case, you could then open a new savings account on our marketplace to deposit this money into, so you grow your savings even more. 

Notice accounts, on the other hand, can be left open for as long as you wish, with a required notice period setting out how many days’ notice you’ll need to give before moving or withdrawing any funds. 

Easy access accounts allow you to top-up and withdraw your money whenever you want, meaning you don’t have to give notice to access your money.

If you’re unsure how to go about registering for a Raisin UK Account or get stuck at any stage of your application or money management process, our ‘how to’ guides and FAQs have the answers you’re looking for.