Raisin Products

Freelance said:
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.
Click to expand...
Can't find it on their website - where did you find the product info? Thanks
 
Banquo said:
Can I ask why?
Click to expand...
No confidence in their financial/prudential regulation. cf Nemea Bank - shutdown by ECB, Pilatus Bank - shutdown by ECB, Satabank - shutdown by ECB, Bank of Valletta (links to corruption, security weaknesses, successful cyberattacks, regulatory breaches, etc) and thats without mentioning Setanta (Insurance).

You might be OK of course, but why bother when there are banks/countries with far better track records available. I simply choose to ignore anything Malta related. Same goes for anything that has even a mention of Gibraltar.
 
Last edited:
Hi,

After todays rate hike by the ECB, does anyone know if Raisin will increase the deposit rates or are they generally already priced in? Looking to put funds on deposit for 12 months but don't want to lock them in today if the rates will all go up next week.

Thanks
 
imalwayshappy said:
After todays rate hike by the ECB, does anyone know if Raisin will increase the deposit rates or are they generally already priced in? Looking to put funds on deposit for 12 months but don't want to lock them in today if the rates will all go up next week.
Click to expand...
From experience it really depends on the individual bank
A few have crept up slightly over the past month or so so may be partly priced in already but there maybe room for another 0.1% or so hopefully!
 
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 11.09.2026, the new interest rate of 2,22 % will apply.”

A massive jump from the current rate of 2.21% - really broke their hearts. I couldn’t even be bothered working out what that’s worth per annum.
 
imalwayshappy said:
After todays rate hike by the ECB, does anyone know if Raisin will increase the deposit rates or are they generally already priced in? Looking to put funds on deposit for 12 months but don't want to lock them in today if the rates will all go up next week.
Click to expand...

No crystal ball here unfortunately.

The number of banks on the Raisin platform continues to increase so there is a chance that one or two will need deposits and stick their noses out. But one year rates have increased and are well ahead of demand rates so it’s probably close to a good time to think about locking in. I’ve kept a chunk of cash in demand accounts waiting for “the peak”. I think I’ll wait another week or so and then commit at least 50% of it to 1 or 2 year accounts.
 
Freelance said:
It's disappeared !!
It was on the Demand Deposits page, second line, below Raisin Direct (3.10%) and above BluOR 2.25%
Very odd
Click to expand...
Same, I saw it on Raisin and then Googled " SimpleSave Raisin" to see was it an actual bank and when I went back to Raisin it had disappeared? Google didn't know about it .
 
Freelance said:
It's disappeared !!
It was on the Demand Deposits page, second line, below Raisin Direct (3.10%) and above BluOR 2.25%
Very odd
Click to expand...

Yeah, very odd indeed. Either a mistake by Raisin (intended for another market?) or there are teething issues and it will reappear. I will wait a few days before removing it from the best buys in case it reappears.
 
Looks to me like they have changed some of the wording in the PID. For example, the words "fiduciary trust" were in the document yesterday but have been removed. A product like this involving multiple jurisdictions, banks and regulators must be a bit of a nightmare to document from a regulation and compliance perspective.

The many Raisin offerings which I availed of previously were a lot more straight forward. I'd have to say I have some concerns about this one.
 
What seems to be going on with this Citi offering (and the Deutsche Bank "Euro Extra" offering) is neither wanted a consumer-branded/facing-offering in Ireland. But yet both want to raise deposits. Hence, Raisin Bank, offered to create a "white label" product under their own brand and to act as "provider" with Citi and DB acting behind-the-scenes as the deposit holder. More complex an offering; yeah. But the deposits are held with big reputable banks.
 
Freelance said:
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 11.09.2026, the new interest rate of 2,22 % will apply.”

A massive jump from the current rate of 2.21% - really broke their hearts. I couldn’t even be bothered working out what that’s worth per annum.
Click to expand...

Ah here…. Today’s e-mail from Raisin………

“Good news, Nordax Bank has informed us about an upcoming interest rate increase on its demand deposit account. As of 14.09.2026, the new interest rate of 2,23 % will apply.”
 
SimplySave/Citi pay 2.31%.

But yeah Irish bank instant access, notice amount and term deposit rates are collectively all awful at the moment. They have failed to respond to 2 ECB increases with the majority of their offerings and are failing to respond (with term deposits) to market expectations of higher rates soon.
 
Some decent increases in top Raisin term deposit rates in recent weeks. Clearly reflecting higher ECB rate expectations.

Raisin.ie now pays more than State Savings for a 5 year term after factoring in the fact that State Savings certs are tax free.

3.15% now available without foreign withholding tax for 1 year too.
 
You must log in or register to reply here.
Back
Top