Raisin (Starling) savings accounts delay?

[stevensfo]

Anyone here used Raisin for savings accounts?

I've use Monzo for a few years and their selection of fixed term savings bonds has gone rapidly downhill. AJBell Savings Hub is much better.

Despite the dearth of accounts, with Monzo, opening the savings account was instant and with AJBell, was a few days at most.

Last month I registered with Raisin, funded the account and last week decided to open a 2-year savings bond. As with the others, there are various banks involved, and this one is Paragon which is exactly the same as the one I used via AJBell a few months ago, but now with higher interest.

The first time, nothing happened. Although I'd already registered with Raisin, on applying for the account, they asked for my N.I. number. Nothing! The second time, I applied for a different account, was not asked for my N.I. number and saw a confirmation, but that was a week ago. Is Raisin always this slow? Finally, there is now a record that I have applied for the account, but what on earth is taking them so long? I admit that I did not do due diligence or KYB cos Starling is quite well known, but the delay is a bit strange.


Steve

[stevensfo]

Just for the record, I have transferred my money out of Raisin. They were an absolute shambles. For some reason my application for a fixed term bond was not accepted. Then the second! No reason given. Their website did not keep me updated as to where my money was or the progress of the application.

So I'll stick witn AJBell and Monzo. In fact, AJBell have exactly the same products and are a pleasure to deal with.


Steve

[Myfyr]

Just for the record, I have transferred my money out of Raisin. They were an absolute shambles. For some reason my application for a fixed term bond was not accepted. Then the second! No reason given. Their website did not keep me updated as to where my money was or the progress of the application.

So I'll stick witn AJBell and Monzo. In fact, AJBell have exactly the same products and are a pleasure to deal with.


Steve

Hargreaves Lansdown Active Savings is similar to the AJ Bell offering but also includes instant access options which AJ Bell don’t provide.

[Loup321]

Hargreaves Lansdown Active Savings is similar to the AJ Bell offering but also includes instant access options which AJ Bell don’t provide.

Thank you for this. I have SIPP and S&S ISA with HL, but wasn't aware of the Active Savings account. Since reading this a couple of days ago, I have opened the account and deposited money with a few products. They currently have a cashback offer for deposits over £10,000 into new accounts, in case anyone is interested. You need to apply by end June (I think - check that one), deposit new funds by Debit Card within 60 days of account opening, and move those same funds to products within 60 days of account opening to qualify. The cashback amount depends on how much you deposit and move to a savings product (both conditions must be met). They reserve the right to take the cashback away if you take money out within 6 months.