Those with deposits in Raisin, Lightyear - anything to report, issues, all good, etc?

B

BrokeBroker

Registered User
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I've read the thread on "withholding tax" in the country the institution Raisin is acting on behalf of.

Some comments that doesn't apply to all institutions however.

I opened an account with Lightyear (nothing deposited yet), and they just made contact re some identification verification - all good.

I also read the post where a user transferred 20 k to their lightyear account and they had to present statements of origin for the funds.
Sounds do-able also.

There was the concern a few weeks prior about being unable to access Raisin accounts?
Nothing like that has surfaced again?

........

These term deposit options have become available recently and as I conservative investor/saver, I want to be confident in the integrity of my choice, and ensure risk reduction.
I get they're all insured up to the stipulated about (100 k for Raisin, 20 k for lightyear).

But they're not Brick/Mortar institutions either.

Just curious from those that opted for those, any concerns, are you confident in your saving/investments?

Have you withdrawn any funds successfully having accrued interest since investing the funds therein?
 
I opened a Lightyear account 4 days ago and delighted with ease of use.
I tested transfer of €1 several times to and from my Revolut account and it took about one second.They pay a smashing 3% APR.
Can be used to put your money to work between spending and direct debits if you use Revolut for your day to day banking, as I do.
 
S class said:
All Raisin accounts are covered by state guarantees from EU governments up to 100000 euro. Is the Irish government more or less likely to default on the guarantee than another EU state government is the question you need to ask yourself before investing.
Click to expand...

Also the actual institution itself?

Is it a well founded bank, or a start up organization.

This wouldn't be a consideration?

This could be determined via examining its credit rating?
 
Freelance said:
Irish banks are not treating depositors fairly, as required by the consumer protection code. Don't take my word for it, the Minister for Finance said as much today.
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As per the link above he's apparently encouraging the use of Raisin?
 
When I log into Raisin.ie I'm asked to input my IBAN number.

I haven't deposited anything and was unaware I had one.

There is a number under my initials in the top right drop down menu.

I input this and press "save", then remain stuck at that screen.

........

I would be very discouraged if this were the whilst having a deposit with them.

Anyone know about inputting ones IBAN on the screen titled:

"

Bank account (reference account)​

"
 
BrokeBroker said:
And can anyone explain "credit ratings" a little?

BBB sounds kind of average?

A+ may be okay?
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A sliding scale going from very good to poor. There will be slight differences between how ratings agencies arrive at their score but they shouldn't differ too much.
Take a look at the following

Rating Definitions

Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating.
www.fitchratings.com www.fitchratings.com
 
BrokeBroker said:
When I log into Raisin.ie I'm asked to input my IBAN number.

I haven't deposited anything and was unaware I had one.

There is a number under my initials in the top right drop down menu.

I input this and press "save", then remain stuck at that screen.

........

I would be very discouraged if this were the whilst having a deposit with them.

Anyone know about inputting ones IBAN on the screen titled:

"

Bank account (reference account)​

"
Click to expand...

I recommend you read over

How it works | Raisin Bank

www.raisin.ie www.raisin.ie
 
Sunnysoutheast said:
I set up a ptsb regular saver account online about 8 months ago, it say its interest is 0.1%, do I need to set up a new regular saver to get the 1% rate or do they automatically apply the 1% rate to all their regular saver accounts?
Click to expand...
Yes you do. You can set this regular saver account up online if you already have online access.
 
Lightning said:
Bonkers are reselling Raisin who are reselling bank products!

Bonkers only seem to be listing a very small number of the Raisin products and only for certain terms. It's anything but a complete list. Also, the many other European options are missing from Raisin.
Click to expand...

Where are these other options found and can one apply directly?
 
8till8 said:
Where are these other options found and can one apply directly?
Click to expand...

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
 
BrokeBroker said:
What I gathered is, it's asking me for the IBAN of a "reference account" - one which I can transfer funds from Raisin, to.

I haven't got so far as to deposit funds yet.
Click to expand...
Is your browser too large to fit the screen and your not seeing a widget to press ? Do Ctrl - (minus) once or twice is case that's the issue.
 
elcato said:
Is your browser too large to fit the screen and your not seeing a widget to press ? Do Ctrl - (minus) once or twice is case that's the issue.
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I have the same issue. It has the BIC but no IBAN.
I tried resizing the browser etc.
I only opened the account yesterday, did the identification phone call, thats still showing as an outstanding item as well.

Maybe it just needs time.
 
elcato said:
Is your browser too large to fit the screen and your not seeing a widget to press ? Do Ctrl - (minus) once or twice is case that's the issue.
Click to expand...

Not sure if this is a serious post but, if you're referring to the "do you have any questions?" hyperlink?

Yes I've seen it.

......

One other thing that concerns me about Raisin - is all one needs a simple one step password to access the account?

No 2FA etc?
 
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