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).

How to register for a Raisin UK Account

How to register for a Raisin UK Account

Registering for a Raisin UK Account is so easy, your hamster could do it (although we wouldn’t recommend that). 

  1. Click this link
  2. Enter your email address
  3. You’ll get an email inviting you to complete the account set up, or you can enter everything right away – and that’s it!

Plus, you can do all this while wearing your pyjamas (and it’s completely free).

What happens next? 

Once you’ve registered for a Raisin UK Account, you’ll need to choose the savings account that’s right for you. That will depend on your savings goals, how much you have or want to save, whether you’ll need to access your savings quickly and how long you want to save for. You might have other personal circumstances you need to consider, too.

Here’s how to do it:

How to register for a Raisin UK AccountHow to register for a Raisin UK AccountHow to register for a Raisin UK Account

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.

Choose the savings account that’s right for youChoose the savings account that’s right for youChoose the savings account that’s right for you

Fixed rate bonds

If you’re looking to stash away a lump sum you know you won’t be needing anytime soon, fixed rate bonds might be an ideal choice. Simply lock away your money for a fixed period of time, typically up to five years, and then sit back and watch your savings grow. Be sure to check the interest rates carefully as they tend to be more competitive when you choose a longer term.

View fixed rate bonds

Notice accounts

If you want a savings account featuring a competitive variable rate and the flexibility to withdraw your savings after a set notice period, a notice account could be right for you. You can keep this type of savings account open for as long as you want, and open it with a single deposit.

View notice accounts

Easy access accounts

Easy access savings accounts are one of the most flexible types of savings accounts available, as you can top-up and withdraw money whenever you need to. You can keep your account open for as long as you want, and you’ll also get competitive variable rates of interest.

View easy access accounts

2. 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.

Tell us which account you want to apply forTell us which account you want to apply forTell us which account you want to apply for

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. 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, we’ll send your application to the partner bank you’ve chosen to open a savings account with. When that’s approved, your money will automatically transfer into your new savings account.

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.

Transfer your moneyTransfer your moneyTransfer your money

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.

Watch your money growWatch your money growWatch your money grow

Is there anything else I need to do?

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. 

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. 

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.

 

Download on the App Store

Get it on Google Play

Raisin UK mobile appRaisin UK mobile appRaisin UK mobile app