How to use Raisin UK: a quick start guide
Whether you’re a beginner saver, have a lump sum to invest, or wish to grow your existing pot, opening a savings account through Raisin UK is a great way to save, whatever you’re saving for.
But how does it work? Well, the first thing you should know is that we’re not a bank. What we offer is a free, easy-to-use, simple savings service as an intermediary that allows you to choose from a range of banks to save with. You can open and manage multiple savings accounts using our no-fees marketplace.
Simply register with us to access a range of competitive savings accounts at your fingertips. The best thing? No more application forms! Once you’ve registered, you can apply for savings accounts in a few clicks.
The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.
What will I need?
In order to register with Raisin UK, you will need to provide some information about yourself such as your name, address, date of birth and National Insurance number. In some cases, you may have to provide further identification (e.g. a scan of your passport).
To apply for an online savings account, you need to be aged 18 or over and have a valid email address and mobile phone number. You’ll also need to provide details of the bank or building society account (including your account number or sort code) from which you plan to fund your account.
1. Choose the savings account that's right for you
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, for example interest rates and term length, is set out clearly, so you can compare savings accounts easily. The different types of savings accounts available through our marketplace include:
2. Transfer your money
Transfer money from your nominated bank or building society account to your Transaction Account. Read our handy guide for more information.
3. Watch your savings grow
All that’s left for you to do is sit back, relax and watch your money grow, thanks to the competitive interest rates provided by our partner banks.
Is my money safe?
Depending on the type of savings account and term you have chosen, you may need to take action as your account reaches maturity. We’ll email you as that date approaches, so you can decide how you’d like to reinvest or withdraw your funds.
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.
Is there anything else I need to do?
Depending on the type of savings account and term you have chosen, you may need to take action as your account reaches maturity. We’ll email you as that date approaches, so you can decide how you’d like to reinvest or withdraw your funds.
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.
Access your Raisin UK Account using our app
and manage all your savings accounts in one place while you’re on the go.
