Opening a fixed rate bond savings account
In this guide, you’ll find all that you need to know about opening savings accounts from our partner banks at Raisin UK.
To apply for a savings account through our marketplace, you need a Raisin UK Account. You automatically apply for a Raisin UK Account when you register with us.
Once you’ve registered with us, you can apply for savings accounts from our partner banks using your Raisin UK Account. Although you can apply for savings accounts before you receive an email confirming that your Raisin UK Account has been fully opened, we recommend waiting. Once your Raisin UK Account has been fully approved, you can fund the savings accounts that you apply for.
Once your Raisin UK Account is fully set up, we’ll send you a confirmation via email containing the Raisin UK Account sort code and your unique account number, after which, you can apply for savings accounts by following these easy steps:
Visit raisin.co.uk and log in to your Raisin UK Account
Navigate to ‘Our Marketplace’
Find the savings account you want to apply for
Click ‘Open account’
Enter how much you want to deposit
Enter the verification number that we send to your mobile phone by text message
Confirm that you want to apply for this savings account
After you’ve applied, if you haven’t already done so, transfer the amount that you want to open your selected savings account with into your Raisin UK Account.
When the amount that you want to deposit is available in your Raisin UK Account, your application will automatically be sent to the partner bank for review. We’ll contact you once the partner bank has reviewed your application.
Some things to keep in mind
Please be aware that you may need to provide additional identification, such as a scan of your passport when applying for some savings accounts. We will let you know if this is the case.
You have a funding window (typically 60 days) within which to fund fixed rate bond savings accounts from our marketplace. If you don’t transfer the amount you’ve asked to deposit within this funding window, your application will be cancelled. Please read the description of each savings account before applying.
You can’t change the amount you want to deposit into a savings account once you’ve applied, but you can withdraw your application and start a new one, which allows you to enter the amount that you want to deposit. Please be aware that once you’ve transferred the amount that you last told us that you want to deposit, your application will be sent to the partner bank, and you will be unable to change the amount.
If you have yet to transfer the amount you want to open a savings account with, you can withdraw your application. However, once a fixed rate bond savings account has been sent to a partner bank for review, you cannot cancel your application or close your savings account unless there are exceptional circumstances, as explained in our terms and conditions.
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