I was in contact with Raisin after their 2 day IT disaster at the end of June and made a formal complaint on a number of points including the apparent issue with their phone support (recorded message advising that they were busy and to leave a message, with call being disconnected and no message recording facility). Their response on all points was one of those classic customer services missives (we do understand... we do apologise... we regret.... we empathise... we care............. oh and we are actually responsible for nothing, sorry, so please go away, unlesss there is anything else we can do for you today).
Specifically in relation to the phone issue, the response was a long piece detailing the operation of their e-mail support offering, providing me with the email address and emphasising that e-mail was their support methodology. They completely ignored the phone issue I raised. I pursued this and got the same response a second time. This was followed, at my insistence, by a phone conversation with "a manager" in which we went around in circles, me asking about phone support, and the manager emphasising "but I would like to explain you that the support we offer is by email alone" etc. When I checked later that day, all references to phone support and the phone number had been removed from the website. So on that point, I would suggest you forget about calling that number - because Raisin have definitely forgotten it's existence and given up answering it.
In relation to the other issues I raised, (the non availability of their platform for 48 hours and consequent denial of access to my account for the same period, the non-response to my e-mails regarding the system being down, their failure to issue a notice either on their website or social media about the system being down with updates and an estimate of the recovery time etc) they were equally evasive. I pursued them and requested a formal response to my complaint so that I could, if I chose, pursue the matter with Bafin and the CBI. Their formal response was terribly poor and very basic, and they made me laugh when they offered €25 by way of compensation for inconvenience. I haven't taken this further because there are only so many hours in the day and because I prefer to go hillwalking rather expending my precious retirement hours and energy taking on sub-standard fifth rate financial service outfits. I've had similar experiences when dealing with Bunq and even more frustrating experiences with Advanzia.
My conclusions in relation to Raisin, and the rest of this ragbag of offerings (advanzia, bunq, bmw, etc) is that you can get lucky and things can work out, but heaven help you if anything goes wrong and you have to interact with them. They make AIB, BOI, PTSB, your local credit union and state savings look positively professional and caring, and that takes some doing. I have six figure sums with both raisin and bunq and I don't worry too much about my capital by dint of the DGS but I am resigned to the possibility that when I go to retrieve this money I could face weeks or more of a delay while I deal with their administrative and procedural inadequacies.
Im taking the time to detail this because I think it is important that people who glibly point to these outfits as a panacea to the poor deposit rates being paying in the Irish market understand just what it is they are recommending. They are most certainly not a panacea, and they are certainly not for the faint hearted or the masses. Use them if you will for money that you can afford to be without for a period of time, and have realistic expectations about what you are taking on when you deal with them. If you are a worrier or have money that you need available quickly look elsewhere.
Specifically in relation to the phone issue, the response was a long piece detailing the operation of their e-mail support offering, providing me with the email address and emphasising that e-mail was their support methodology. They completely ignored the phone issue I raised. I pursued this and got the same response a second time. This was followed, at my insistence, by a phone conversation with "a manager" in which we went around in circles, me asking about phone support, and the manager emphasising "but I would like to explain you that the support we offer is by email alone" etc. When I checked later that day, all references to phone support and the phone number had been removed from the website. So on that point, I would suggest you forget about calling that number - because Raisin have definitely forgotten it's existence and given up answering it.
In relation to the other issues I raised, (the non availability of their platform for 48 hours and consequent denial of access to my account for the same period, the non-response to my e-mails regarding the system being down, their failure to issue a notice either on their website or social media about the system being down with updates and an estimate of the recovery time etc) they were equally evasive. I pursued them and requested a formal response to my complaint so that I could, if I chose, pursue the matter with Bafin and the CBI. Their formal response was terribly poor and very basic, and they made me laugh when they offered €25 by way of compensation for inconvenience. I haven't taken this further because there are only so many hours in the day and because I prefer to go hillwalking rather expending my precious retirement hours and energy taking on sub-standard fifth rate financial service outfits. I've had similar experiences when dealing with Bunq and even more frustrating experiences with Advanzia.
My conclusions in relation to Raisin, and the rest of this ragbag of offerings (advanzia, bunq, bmw, etc) is that you can get lucky and things can work out, but heaven help you if anything goes wrong and you have to interact with them. They make AIB, BOI, PTSB, your local credit union and state savings look positively professional and caring, and that takes some doing. I have six figure sums with both raisin and bunq and I don't worry too much about my capital by dint of the DGS but I am resigned to the possibility that when I go to retrieve this money I could face weeks or more of a delay while I deal with their administrative and procedural inadequacies.
Im taking the time to detail this because I think it is important that people who glibly point to these outfits as a panacea to the poor deposit rates being paying in the Irish market understand just what it is they are recommending. They are most certainly not a panacea, and they are certainly not for the faint hearted or the masses. Use them if you will for money that you can afford to be without for a period of time, and have realistic expectations about what you are taking on when you deal with them. If you are a worrier or have money that you need available quickly look elsewhere.