Raisin Products
- Thread starter Lightning
- Start date
Let’s see how long it lasts this time…..
Agree. This actually caught me out once with Raisin and I was stuck with the rollover. As soon as I open one now, I change the rollover to "Off" immediiately. At least the web interface now makes this very clear and obvious.
Where in the app is this option?
I don't use the app at all, just via the web browser
Agreed. Like @messyleo I turn this off immediately after setting up a new term deposit, knowing it can always be switched back on as maturity approaches and I decide if rollover is appropriate. But the default should be auto-renewal off, not on.
On the screen in the app where your term deposits are listed, click on a deposit and scroll down a little - there is a panel headed “Can the deposit be renewed at maturity?” - this shows whether or not rollover is enabled and allows you to change it.
You mean declare and pay to Revenue? The outcome is pretty much the same overall - the German banks for example will not withhold (hence Raisin did not withhold against you) so you will owe Revenue the full 33%. None of the raisin banks apply Irish DIRT, some apply foreign tax and you deduct that from the 33% payable to Irish Revenue - but in the case of the banks in countries with which Ireland has a treaty and where WHT applies, you may have to provide the relevant document so that it is only the (lower) WHT rate in the treaty that is applied. This complication is one reason why many people choose to deposit with a bank in a country that has no WHT at all for Irish Raisin customers (e.g. Germany or Sweden).
Remember that Ireland has one of the highest rates of deposit interest taxation in Europe, the Dutch headline rate looks higher but there is sizeable exemption - so you'll almost always have to declare and pay to Irish Revenue if you're depositing via Raisin.
Deposit Interest Tax in Every EU Country (2026 Table) | PickTheBank
How savings and deposit interest is taxed in each EU country in 2026: flat rates, withholding at source, and the rules cross-border savers must know.
pickthebank.eu
And of course if you exceed the €5,000 total interest for the year (gross), you'll also owe 4% PRSI.
Best Buy - Savings Best Buys
Savings Best Buys: There are 3 savings best buy threads on AskAboutMoney that are updated frequently. Instant Access and Notice Accounts - Lump sum variable rate savings. Fixed Term Deposits - Fixed Lump Sum Term Deposits from a few months to a few years. Regular Savings - Smaller sum...
www.askaboutmoney.com
New interesting product available via Raisin.ie.
Product name: SimplySave
Provider: Raisin Bank Germany
Deposits held with: CitiBank Europe German Branch
Available via: Raisin.ie.
Regulated by: CBI
Deposit protection: Irish Deposit Guarantee.
Rate: 2.31%
Type: Instant access
Minimum: €1
Max: €100,000
Raisin launching this just before the ECB likely increase rates.
Product name: SimplySave
Provider: Raisin Bank Germany
Deposits held with: CitiBank Europe German Branch
Available via: Raisin.ie.
Regulated by: CBI
Deposit protection: Irish Deposit Guarantee.
Rate: 2.31%
Type: Instant access
Minimum: €1
Max: €100,000
Raisin launching this just before the ECB likely increase rates.
OMG! This country really annoys me at times.
This is (Bad) news to me!
Thank you all. Villaines v helpful on WHT. Yes, I just want to have to declare and pay. Without other deductions, certs etc.
Ive traditionally saved with my bank or when rabo was in the market!!!! So im trying to step outside my comfort zone. Really appreciate the advice on AAM.
Ive traditionally saved with my bank or when rabo was in the market!!!! So im trying to step outside my comfort zone. Really appreciate the advice on AAM.
I've adopted the same approach. I use Raisin a lot and skip any of the banks/countries that have withholding tax. It's enough tracking the interest and completing the year end tax return. Having to deal with withholding tax is just another layer of paperwork I couldn't be bothered with. I also skip any institution that operates from or is regulated out of Malta.
A bit different to the other Raisin demand offerings. I had to read the product information twice to fully understand this. Looks good to me. Will give it a few days and see how the other banks respond to the ECB rate increase before moving to this.
Can I ask why?