Transferring to Raisin

T

THE_Chris

Registered User
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Hi all, hopefully a simple one that can be solved by someone who has transferred money from Permanent TSB to Raisin.

I have set up and verified my account with Raisin.ie and they have send me back details of my holding account with them. According to them, I put money from my reference account (my permanent TSB account) into this DE registered account, and then they go ahead and invest that with the French bank I have selected.

The DE registered account is under my own name, and they have provided an IBAN and a BIC. I need to transfer money from my Permanent TSB current account to there, but of course IBAN and BIC is not enough for pTSB, they want more.

Here's the problem I've encountered -
Permanent TSB need -
Destination Bank Name: "Raisin Bank"
Destination Bank Address: No idea. The address given on Raisins website "Frankfurt AM" is not enough for them.
Destination/Beneficiary account name: My name, which is on the DE account
Destination/Beneficiary address: No idea. The account is in my name but I don't have a German address. They didn't like the idea of the banks own address. It also can't be my Irish address.

PTSBs in-branch online form will not allow them to proceed without this information. Has anyone been through this unnecessarily laborious process with them and can tell me what to do?

My other solution is to set up an international transfer on Open24, but it will take multiple days to send the money across as its limited per-day, and I'm not sure how Raisin will deal with that.

Thanks a mil.
 
Hi,
I use PTSB to fund Raisin. Are you using Open24 to do this?
With Open24 it was pretty straightforward - "Transfers" - "New Payee" - IBAN & BIC and Bank Country, I don't recall having to put in much more, I remember having enough information from Raisin to complete it without much hassle. I did not use International transfer. Hope this helps.
 
I've had no issues with transferring funds via open24 as bravo outlined above. There is a payee transfer limit of 10k euro per day, so multiple transfers may be needed over several days
 
bravo said:
Hi,
I use PTSB to fund Raisin. Are you using Open24 to do this?
With Open24 it was pretty straightforward - "Transfers" - "New Payee" - IBAN & BIC and Bank Country, I don't recall having to put in much more, I remember having enough information from Raisin to complete it without much hassle. I did not use International transfer. Hope this helps.
Click to expand...
Likewise, no issues. Mostly arrives later that working day.
 
THE_Chris said:
Hi all, hopefully a simple one that can be solved by someone who has transferred money from Permanent TSB to Raisin.

I have set up and verified my account with Raisin.ie and they have send me back details of my holding account with them. According to them, I put money from my reference account (my permanent TSB account) into this DE registered account, and then they go ahead and invest that with the French bank I have selected.

The DE registered account is under my own name, and they have provided an IBAN and a BIC. I need to transfer money from my Permanent TSB current account to there, but of course IBAN and BIC is not enough for pTSB, they want more.

Here's the problem I've encountered -
Permanent TSB need -
Destination Bank Name: "Raisin Bank"
Destination Bank Address: No idea. The address given on Raisins website "Frankfurt AM" is not enough for them.
Destination/Beneficiary account name: My name, which is on the DE account
Destination/Beneficiary address: No idea. The account is in my name but I don't have a German address. They didn't like the idea of the banks own address. It also can't be my Irish address.

PTSBs in-branch online form will not allow them to proceed without this information. Has anyone been through this unnecessarily laborious process with them and can tell me what to do?

My other solution is to set up an international transfer on Open24, but it will take multiple days to send the money across as its limited per-day, and I'm not sure how Raisin will deal with that.

Thanks a mil.
Click to expand...
Have you considered the Advanzia 6 month instant access 3.25% AER offer? Seems to be the best offer right now.
 
It's easy to set up on Open 24, and there's no problem with sending the money in tranches of €10,000. Raisin will wait until the pre-arranged investment sum is in your account to proceed.
 
I went into the branch to transfer the deposit in one go. It was the day of the handover with Ulster bank so they were all over the shop. Long form to fill in. Address of Raisin Bank is the Berlin address which is mentioned several places on the website. Bring id, proof of address, the Iban etc. They should be able to get it sorted. Nowadays, I send 10k per day online until the full amount is transferred.
 
Thanks all. I'll do 10k per day online, its just easier.

In the bank I had to fill out a paper form which they then type out into their own online form - its archaic. The Berlin address is good to know, but it was the beneficiary address that I was stumped on. Yes, thats me, but I don't have a German address so its a computer-say-no case. Ridiculous!
 
...to be fair, the pTSB Fraud Squad have already called me about 10k per day going to Raisin. Genuine call too.
 
I'm also going to have to make several daily transactions of large tranches.

I had hoped it won't raise an AML request as showing my proof of source would be a bit of a nightmare with the amount of bank statements involved, but seemingly if lots of others are doing it, Raisin are used to it.
 
Yeah, I had no problem doing that in the end. I transferred the max allowed per day... though it was quite difficult to keep track of as each one didn't credit until the next working day.

Might be easier to transfer 9,999, then 9,998 etc, then a small final transfer.
 
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