22.05.2024 | 2 minutes estimated reading time | Print this article

RCI Bank expands to the Raisin UK platform

  • RCI Bank launches onto Raisin’s UK platform.
  • The bank’s competitive 4.70% 3-year fixed-rate bond offers savers the long-term option to lock in savings.

RCI Bank, a renowned savings provider, and fintech company Raisin have expanded their successful partnership. As part of this exciting development, RCI Bank’s UK-based operations, RCI Bank, will now be available on Raisin’s UK platform. This collaboration, which has already proven successful in Germany and the Netherlands, offers UK savers a new and competitive option for their savings.

In the UK, approximately £250bn is not earning interest in bank accounts. With retail savings rates reducing and the Bank of England expected to decrease its monetary policy rate in the future, savers can lock in their savings for more extended periods, providing a guaranteed rate.

Meeting this demand and launching with an initial 4.70% 3-year fixed-rate bond, RCI Bank is the 40th bank to join the UK platform.

RCI Bank opened its digital doors in June 2015, dedicated to providing a simple, transparent service for UK savers that offers rewarding rates, seven-day service, and easy-to-use accounts. Combining the latest digital banking technology with a human touch puts simplicity, efficiency, and personalised care at the heart of the customer experience, giving many more people the confidence to save. These efforts have not gone unrecognised, with the bank receiving almost 40 awards and commendations since opening over eight years ago. These have included sought-after accolades such as Fairer Finance Ribbons and awards from Moneyfacts and MoneyComms.

Discussing the launch, Raisin UK CEO Steven Amos commented: “While recent deposit moves have seen record numbers of consumers finally moving their money away from high-street banks, there is still an eye-watering amount earning little to no interest – and time is running out. Launching an attractive offer on a longer-term fixed rate account, RCI Bank enables Raisin’s customers to earn a higher yield on their savings for longer. We’re excited to welcome them to the UK platform and extend a successful partnership with the RCI Banque group.

Lewis Elliott-Smith, Head of Savings at RCI Bank, added: “We‘re excited to partner with Raisin UK to offer our straightforward products and rewarding rates to more UK savers. Given the cost of living squeeze on savers‘ pockets, it’s important to us to support more people with putting something away for their future.“