How to use Raisin UK: a quick start guide
Whether you’re a beginner saver, have a lump sum to invest, or you 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 an easy-to-use, simple savings service that allows you to choose from a range of banks to save with. Think of us like a travel agent, who has lots of different types of holidays from different companies for you to choose from, making it easier to find something that’s just right for you.
Just register with us, and you’ll have a choice of competitive savings accounts at your fingertips (and the best thing is that you don’t need to fill out a new application form each time you want to open a new savings account – that’s all taken care of when you register).
1. Choose the savings account that’s right for you
1. Choose the savings account that’s right for you
Simply compare the different savings accounts in our marketplace and decide which one is best for 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:
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.



Open with a single deposit and lock in a competitive fixed interest rate for a set term, after which you can access your funds.
Read moreOpen with a single deposit and earn a variable interest rate with access to your funds after a notice period.
Read moreTop-up and access your money whenever you want while you earn a variable rate of interest.
Read more2. Tell us which account you want to apply for
2. Tell us which account you want to apply for
When you’ve chosen the savings account that’s right for you, let us know by logging in to your Raisin UK Account and selecting the savings account you want to open. You can apply to open as many accounts as you like.



3. Transfer your money
3. Transfer your money
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.
When you’ve opened your first savings account using our marketplace, you can claim a welcome bonus to give your savings a helpful kick-start.



4. Watch your money grow
4. Watch your money 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?
The short answer is yes. We only partner with registered, reputable banks, so you can rest assured that your deposits are protected. Banks based in the UK are covered by the Financial Services Compensation Scheme (FSCS), which covers deposits of up to £85,000 per person, per banking group.



Access your Raisin UK Account using our app
and manage all your savings accounts in one place while you’re on the go.


