Those with deposits in Raisin, Lightyear - anything to report, issues, all good, etc?

RedOnion said:
Its not a 7 day window ti dispute, it's 2 months in France.
7 days is the maximum time within which compensation should be automatically paid out.
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Could be?

The specific "time limit" isn't stated in those T&C's though and obviously the allusion is, as per that paragraph, it's.........

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BrokeBroker said:
Don't think I haven't thought about it.

OR - now check this out - I could just cover every possibility in relation to (potentially slightly more risk bearing) foreign deposit opportunities, and proceed with unequivocal confidence as to what I'm getting into;

Thereby, reaping the benefits of "potential returns".
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Your investigations started over two months ago and are still going strong. I wonder what the opportunity cost has been so far?
 
ClubMan said:
Your investigations started over two months ago and are still going strong. I wonder what the opportunity cost has been so far?
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None really cause, I would have got stung for withholding tax (double taxation) if I just blundered into that Latvian deposit opportunity without having all bases covered.

In addition to, in the interim, the increase in YouNited interest rates happened (no withholding tax), which I can now take advantage of.

And Irish institutions have also increased interest rates across a range of their accounts (which I have been taking advantage).

But, this 12 month deposit account with a bank outside Ireland....... for me, that's a step into the unknown.

Therefore it would behoove me to reduce the "unknown", increase the "known, and proceed with as much confidence as possible.

........

Besides which, y'all might be financial moguls for all I know.

This recent time period (few months) is the first time I've turned my hand to understanding long term financial planning.
Stands to reason I'd want to iron out these creases in relation to the fine-print (Devil is in the details, after all).
Like everyone, I busted my ass, took way too much s**t, and lost too much blood/sweat and tears to accrue the modest funds I have (upon which my entire future depend).

I'm not about to just commit that to something I'm not 100% confident on, just cause it seems trivial to someone else (who presumably has far more experience and familiarity with the process than I).
 
Also mean to ask, the reference account for Raisin;

Does that absolutely have to be a Current Account?

It can't be a Personal Demand account?

I ask simply as I'd prefer to keep these transactions to a more savings oriented related account.
 
BrokeBroker said:
Do you have a deposit with Raisin/YouNited at the moment?

Just curious whether you've plunge, basically.
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Indeed I have but I don't know what use that information is to you.

To put it in perspective I've deposited with the likes of Anglo, INBS and Northern Rock over the years - I know how to pick them :⁠-⁠P
 
skrooge said:
Indeed I have but I don't know what use that information is to you.

To put it in perspective I've deposited with the likes of Anglo, INBS and Northern Rock over the years - I know how to pick them :⁠-⁠P
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Me too. And I had an Equitable Life With Profits fund when that collapsed. In no case did I lose a penny though.
 
BrokeBroker said:
Also mean to ask, the reference account for Raisin;

Does that absolutely have to be a Current Account?
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No. It needs to be capable of making & receiving SEPA payments. These are called 'payment accounts'.

The other party will have no way of knowing what type of account it actually is.
 
skrooge said:
Indeed I have but I don't know what use that information is to you.

To put it in perspective I've deposited with the likes of Anglo, INBS and Northern Rock over the years - I know how to pick them :⁠-⁠P
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Well no I mean, basically as with @Freelance , it shows you had confidence enough in their association with the fDGS to proceed with depositing with them...... despite it being apparent that confidence wasn't entirely unfaltering.

i.e. confident'ish.....

Curious how many investors/depositors are/were of a similar outlook?

And presumably despite those institutions collapse/fault, you never actually lost any money?
 
RedOnion said:
No. It needs to be capable of making & receiving SEPA payments. These are called 'payment accounts'.

The other party will have no way of knowing what type of account it actually is.
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Cheers.

Just to double check, an AIB Personal Demand Deposit account is of course capable of this?

I transferred from a foreign (European) bank into it using its IBAN already so..... I would think so.
 
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RedOnion said:
AS far as I know, the only restriction is that you cannot set up direct debits on that account type.
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Oh really?

I have two direct debts on mine, one into the AIB online saver (monthly) and another into the pTSB online saver (monthly).

But maybe you meant direct debts going in, not coming out?
 
BrokeBroker said:
I have two direct debts on mine, one into the AIB online saver (monthly) and another into the pTSB online saver (monthly).
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Are you sure that they're direct debits (variable amounts "pulled" by the payee from the payer's account) and not standing orders (fixed amounts "pushed" from the payer's account to the payee's account)?
 
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BrokeBroker said:
But maybe you meant direct debts going in
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No I certainly didn't mean that as I assume you're not a DD originator.
The terms and conditions say the account does not support direct debits.

You probably meant you have standing orders? That's how the AIB one must be funded.
 
ClubMan said:
Me too. And I had an Equitable Life With Profits fund when that collapsed.
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Oh you had it lucky, I had Quinn life fund on top of those insolvent banks...... People don't know how lucky they have it today....

youtu.be

Four Yorkshiremen- Monty Python

Four Yorkshiremen discuss "the bad old days" and how young people don't properly appreciate what their elders had to go through. Hilarious.
youtu.be youtu.be
 
ClubMan said:
Are you sure that they're direct debits (variable amounts "pulled" by the payee from the payer's account) and not standing orders (fixed amounts "pushed" from the payer's account to the payee's account)?
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Oh yes, standing orders, that's correct.

But DD's won't affect Raisin transfers.
 
I have recently opened an account with Raisin. I went through the verification process on the IDnow app and got my IBAN.

I went to AIB to make a transfer and was asked if I was sure the account was legit because they've had a few customers who were scammed.

Is there a way of checking if everything is above board before I make the transfer?
 
I received emails from the following addresses following account opening and term deposit order:

[email protected]
[email protected]

I have typed https://www.raisin.ie on a standalone browser window before logging in to see my account details including my IBAN.

Would you say that is enough proof that everything is legit? Is there anything else I can try? Did anyone verify their details before making a transfer?

I am not asking for a 100% guarantee...
 
iamaspinner said:
I have recently opened an account with Raisin. I went through the verification process on the IDnow app and got my IBAN.

I went to AIB to make a transfer and was asked if I was sure the account was legit because they've had a few customers who were scammed.

Is there a way of checking if everything is above board before I make the transfer?
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Transfer in a small amount, like 10 euro or something, if you see it in your Raisin account a day or two later you can be fairly sure all is OK.

Sidenote: If you want to be REALLY sure you are not being scammed or redirected by some dodgy site masquerading as Raisin (unlikely as that is)...use a different computer to log to your account, not connected to your home network (use a wi-fi hotspot from your phone), manually enter the riaisn.ie url in the address bar. This is way over the top by the way, but if you suspect your computer or home network has been compromised in some way this should avoid risk.
 
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