Deposit Guarantee Scheme

[tiarnalamh]

I have a €100,000 savings account in Raisin with YOUNITED bank and I understand that it is guaranteed by the Deposit Guarantee Scheme, up to €100,000. My question is: If I open another account, a few months later, in the same YOUNITED bank, with Raisin, will that second account also be guaranteed by the Deposit Guarantee Scheme?

 

[messyleo]

No, it's 100k per person per institution
Open with a different bank instead - one of the great benefits of raisin imo

 

[Lightning]

My question is: If I open another account, a few months later, in the same YOUNITED bank, with Raisin

Impossible.

Raisin limits you to 100k per bank per person. Not 100k per bank per person per term deposit. Raisin have a self imposed restriction at this level which is the same as the deposit protection level.

There is one exception and that is with EuroExtra which has higher protection and higher maximums.

 

[tiarnalamh]

Thank you messyleo and Lightning

 

[podgerodge]

When you open a Raisin account, and decide to transfer funds to one of their offerings (i.e. banks), do you transfer the money to Raisin first or directly to the chosen bank?

 

[gipimann]

It's transferred to Raisin, who then transfer it to your selected bank.