How Raisin UK works
Register for a free Raisin UK Account
Apply for savings accounts from partner banks
Transfer deposits to your Raisin UK Account
Earn money from your savings
Your money journey
After you’ve applied for a savings account from one of our partner banks, and transferred your deposit to your Raisin UK Account, we take care of the rest.
This diagram shows the journey of your money from your bank or building society account to a savings account. This process is automated, so you only need to transfer your money between your Raisin UK Account and your nominated account. We take care of the rest.
Please be aware that some of our partner banks don’t utilise the services of Meteor Asset Management (MAM). You can find out if a partner bank will transfer your money via MAM by reading the product description.
Why choose Raisin UK?
Your money is secure at every step. We’re authorised and regulated by the FCA, and we only work with banks that are protected by the FSCS or the European equivalent
Saving with specialist and challenger banks often gives you access to better rates than you’ll find on the high street, which means your money grows quicker*
Say goodbye to application forms, endless logins and hidden fees. Our easy, free-to-use service helps you make your savings work harder. Simple
Savings accounts at Raisin UK
Fixed rate bonds
- Typically the saving account type that offers the most competitive rate of interest
- Ideal for long-term savings goals
- Make one deposit to earn a fixed rate of interest or profit
- Your deposit is locked in for a fixed term – typically between 6 months and five years – and you can’t access it until the end of the term
- Funds transfer to your Raisin UK Account at maturity
- Offers a competitive, variable rate of interest, with the flexibility to withdraw after a set notice period – usually 30 – 180 days
- Ideal for long or medium-term savings goals
- Make one deposit to earn a variable rate of interest
- Funds will transfer to your Raisin UK Account after you’ve given notice to withdraw your funds, and your account will also be closed
Easy access accounts
- One of the most flexible savings account types, with a variable rate of interest
- Ideal for short-term savings goals, or to use as a regular saver
- Make an initial deposit, then top up as many times as you like
- You can withdraw money as often as you want, provided it doesn’t take your balance below the minimum required to keep your account open
- Interest is paid monthly
Learn more about your savings
We want you to make informed decisions about your savings, which is why we give everyone access to our growing collection of savings guides, which includes advice on how to get the most out of Raisin UK.
How we make money
We make money from fees our partner banks pay us for every saving account opened through our marketplace, which is why our savings service is free to use. We don’t earn money from deposits held in your Raisin UK Account, and we don’t earn money while deposits transfer to savings accounts. We only make money when your savings deposits are making money for you, which motivates us to provide you with the best savings accounts, rates and service possible.
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