Raisin Products

[Freelance]

Would you happen to know whether DIRT tax must be paid on an annual basis for an account where the interest is paid out only at the end of the term? I mean, in the annual statement from Raisin, will interest be shown as accruing year on year and thus liable for DIRT, even though you only benefit from the interest right at the end?
Obviously DIRT would be payable each year on accounts where interest was actually paid out annually.

Sorry for the delay in responding, I was travelling and missed your post.

There are a two considerations here.

Firstly, when Revenue talk abut DIRT, they tend to use the phrase "Paid or Credited" as opposed to just "paid" or "paid or received". The is important to bear in mind.

Secondly, Raisin have term accounts that operate interest on at least three different basis. Lets compare a few of these from the 5 year term page, looking at the "Offer Details":

Achmea & Rietumu
When is interest paid? On maturity of the deposit
My understanding: You are paid a single interest payment when the account matures after 5 years. You are liable for DIRT on the full amount of interest in that year. No DIRT liability arises in the prior years.

Badenia & Aareal
When is interest paid? Paid out to your Raisin Account annually on anniversary of the deposit’s opening (or next business day)
My understanding: Interest is paid out to you at the end of each of the 5 years. You are liable for DIRT each year on the amount of interest paid in that year.

Avarda & Younited
When is interest paid? Compounding annually on the anniversary of the deposit’s opening
My understanding: Interest is credited to your account at the end of each of the 5 years, but is not available to you. You are liable for DIRT each year on the amount of interest credited in that year.

The last of these is similar to the AIB multi year account referred to above - interest is credited each year and while not available to you, AIB deduct the DIRT and return it to Revenue. The difference in the case of Raisin/Avarda and Raisin/Younited is that you have to fund the DIRT payments from other resources.

 

[johncb]

With Raisin bank, my goal is to always move to whichever Instant Access Demand Deposit Account offers the highest rate on the Raisin platform at any given moment in time. This has seen me open three or four accounts over the last few months, as l always move to whatever becomes the highest rate. When I move to a new account, should I close the previous one or just leave it open in case it eventually increases its rates again in future and becomes the highest rate available?

If I close the old ones, do I need to worry about getting bank statements for those particular bank accounts or will everything still be covered in some form of statement for my overall Raisin account? I'm thinking in terms of ensuring I can accurately report the exact amount of interest I earned for a tax year when declaring my tax return for 2025 later this year in October.

My approach is similar - I move most of my demand deposit cash to the best interest rate provider, without closing accounts. I tend to leave a small amount in non-favoured accounts so as not to have them at zero. You will get an annual statement that covers all accounts, so there shouldn't be a need to maintain statements for every account. They tend to provide this around March for the previous year, the summary of this can be plugged into your tax return. I have a spreadsheet to track interest as it is paid, and it always matches the Raisin annual statement to the cent.

 

[Amsel26]

when Revenue talk abut DIRT, they tend to use the phrase "Paid or Credited" as opposed to just "paid" or "paid or received".

This is a very useful point - thanks for this and the other helpful info in your post, which I only saw this morning. I hadn't considered the implication of "compounding annually" with the Younited account.
At least if everything is set out clearly in the annual Raisin statement, as other posters have said, then it makes things a bit less complicated in terms of reporting.

 

[Lightning]

Pre-ECB rate change you could get paid above the ECB rate with instant access products via Raisin.ie.

Now post ECB rate change you can't. No Raisin instant access products exceed the current ECB rate.

That said, KB Deutsche Industriebank AG via Raisin.ie launch today and pays 2.12%.

I wonder if some deposits will move to Trade Republic. Trade Republic has been one of the only banks to fully pass on the ECB increase to their customers who signed up prior to mid May 2026.

 

[Persius]

In fairness to Trade Republic, they track the ECB rate and are very quick to pass on any interest rate increases. I would wait a few weeks to see if any of the offers on Raisin increase. I'd be fairly sure some of them will.

 

[messyleo]

I feel some of the raisin rates may have priced this in already (at least partly) over the past month or so as some of the term deposits have risen slightly and were already over the current ECB rate e.g. Younited 1 year is 2.7%

 

[Lightning]

For term deposits, largely agreed.

For instant access products, this ECB rate increase has not been fully priced in to any of offers.

 

[messyleo]

Just got news from raisin the 1 year younited term rate is actually dropping from 2.71 to 2.69 next week

 

[Lightning]

The 3.04% 1 year term deposit rate with Haitong is decent. Especially given that you can get the foreign witholding tax down to zero with a Revenue tax cert.

 

[Lightning]

The Haitong Bank rate drops to 2.69% on 2 July 2026. If you want the 3.04% offer you need to act fast.

 

[Xelfyou]

The Haitong Bank rate is 3.04%. Spanish tax applied; (1) Reduce to zeo via residency cert from Revenue; (2) Declare gross to Revenue.

How exactly does one I get a residency cert from Revenue?

 

[johncb]

How exactly does one I get a residency cert from Revenue?

From the Revenue website:

Letter of Residence​

Revenue can provide you with a Letter of Residence. This is to confirm your tax residency to a foreign tax authority with which Ireland has a Double Taxation Agreement. You cannot use a Letter of Residence for any other purposes.

You can request a Letter of Residence through the ‘Manage My Record’ portal in myAccount.

If you use Ros, there's an option called "Letter of Tax Residence" in the Other Services section at the bottom of the page.

 

[Xelfyou]

In ros.ie application for Letter of Residence.. jurisdiction = spain. (No ireland in the list)

 

[johncb]

jurisdiction = spain. (No ireland in the list)

The jurisdiction is where you need to submit the letter of residency to, not where you are saying you are tax resident [they would assume Ireland if you're asking the Irish Revenue Commissioners]. The process on Ros is pretty clear to me - not sure where the confusion is being caused.

 

[Lightning]

If you use Ros, there's an option called "Letter of Tax Residence"

Same option available for My Account holders.

 

[ClubMan]

Same option available for My Account holders.

I tried that on MyAccount a while back and they refused me in spite of the fact that I've lived all my almost 60 year life in Ireland and have paid tax for more than 40 years of that. Go figure.

 

[Lightning]

Did you have to the raise a My Enquiry to get the cert instead?

 

[Freelance]

Message received from Raisin customer service today​

​

Important updates regarding transfers to your Raisin account​

Dear Customer,

We are introducing enhanced security measures for transferring money to and from your Raisin Account. Beginning later this year, this policy will be firmly in place, and any funds sent from any account other than one of your Nominated accounts will unfortunately be rejected. This update is designed to maximise your account security and ensure we meet our regulatory requirements.

What you should do before this change:

• Check your Nominated accounts: You can view your current Nominated accounts or add new ones at any time under ‘My Data’ in your Raisin Account. You can nominate a maximum of five accounts.
• Suggested accounts: If you have transferred money to your Raisin Account from an account in your name over the past 12 months, it will appear as a suggested Nominated Account in your over the next few days so you can easily choose to add it.
• Joint accounts: These will not be suggested automatically, but you can easily add them yourself by selecting "Add nominated account" within the ‘My Data’ section.
• Security note: To keep your account secure, please note that our customer service team cannot add Nominated Accounts on your behalf.

We will announce the exact date for this change as soon as it is finalised.Please let us know if you have any questions. You can also find more information on Nominated accounts here: https://contact.raisin.com/hc/en-ie/articles/36987305776018-How-can-I-add-another-Nominated-account.

Kind regards,

Your Raisin team

 

[Freelance]

Email from Raisin this evening:

Good news, Nordax Bank has informed us about an upcoming interest rate increase on its demand deposit account. As of 20.07.2026, the new interest rate of 2,08 % will apply.

That’s up from 2.07%. Just as well emails don’t incur the cost of a stamp !

 

[Connard]

If you have 100k in there it might be enough to buy you a pint after a year