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Raisin Bank

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Comments

  • #212
    blade1
    Registered Users, Registered Users 2 Posts: 12,032 ✭✭✭✭blade1


    https://www.boards.ie/discussion/comment/122209994#Comment_122209994

    yes



  • #213
    caviardreams
    Registered Users, Registered Users 2 Posts: 6,379 ✭✭✭caviardreams


    Yeah a raisin account allows you to open any of the other deposits with different banks without having the rigmarole of applying again - they all just use your raisin ID etc



  • #214
    blade1
    Registered Users, Registered Users 2 Posts: 12,032 ✭✭✭✭blade1


    I see there's an app now.

    Anyone using it and how do they find it if so?



  • #215
    Hibernicis
    Registered Users, Registered Users 2, Paid Member Posts: 2,180 ✭✭✭Hibernicis


    It’s ok, nothing special and doesn’t do anything that the website doesn’t do. Uses the same name and password as the website. Can see current holdings. Website is better for looking at comparison between offers because there is more screen area. So overall it ticks a box for “App available” but given that most people will access raisin very infrequently can’t see it being much of a benefit, just another pointless app on my phone/tablet really.

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  • #216
    blade1
    Registered Users, Registered Users 2 Posts: 12,032 ✭✭✭✭blade1


    https://www.boards.ie/discussion/comment/122403869#Comment_122403869

    Ok thanks, not worth bothering with so.



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  • #217
    barkerj
    Registered Users, Registered Users 2 Posts: 34 ✭barkerj


    I've a term deposit with Raisin that's maturing soon, and looking at options to invest again. It seems that BluOr and B-Fjord offer the best rates at the moment for my needs, but both are in jurisdictions that charge a withholding tax. I'm fine with that, as I can get credit for it in my Irish tax return, so I'd much rather do nothing and pay the higher withholding tax rather than jump through various hoops getting Revenue to issue a certificate of tax residency, etc. From comments I've seen on this forum, others have needed Revenue to stamp an actual paper form, which then needed to be posted to Raisin's office in Berlin, all within a particular time frame of account maturity.

    Question is - is it possible to select an option or otherwise tell Raisin that I don't want to take steps to lower my withholding tax? I feel from other people's comments that this might cause hassle as it's an expectation that you'd want to take that option. Would be good to hear of other people with experience of this.



  • #218
    Cape Clear
    Registered Users, Registered Users 2 Posts: 2,887 ✭✭✭Cape Clear


    https://www.boards.ie/discussion/comment/122510128#Comment_122510128

    I got the below email from Advanzia Bank S.A. it might be worth considering.

    From September 1, 2024, you will benefit from an attractive interest rate for a further 4 months, which is far above our standard interest rate. We guarantee you our special interest rate of 3.56% eff. p.a. (3.50% nom. p.a.) up to and including December 31, 2024.

    This means that your entire balance will earn interest at the new rate from September 1,2024.

    Is this interest rate not yet attractive enough for you? Then transfer at least an additional amount of € 5,000 into your Advanzia Deposit account by August 30,2024, and we will grant you our special interest rate of 3.97% p.a. effective from the day of the additional payment until December 31, 2024, on your entire balance.

    The new interest rate will be reflected on your next statement.

    Our terms and conditions apply.

    Advanzia Bank S.A.

    14, rue Gabriel Lippmann

    L-5365 Munsbach

     

    R.C. Luxemburg B109476, VAT: LU 20992462

    Legal representatives: Nishant Fafalia, Kaj Larsen, Patrick Thilges



  • #219
    targus
    Registered Users, Registered Users 2 Posts: 92 ✭✭targus


    So took the plunge with Raisin with a one year fixed of 3.6 % with CA Auto bank in Italy.

    All security checks and money received by Raisin within a couple of hours. On checking the app my account with CA is still ‘pending’. It says it can take up to 4 days to complete the opening process which is fair enough except I’m on day 7.

    Raisin customer service are only open for 2 hours a day. I rang today and got the usual standard answers saying the delay was with CA.

    All in all I wouldn’t recommend them. I was getting a decent daily rate with Revolut and should have left my money there but got a bit greedy for extra interest. Will let you all know the outcome.



  • #220
    barkerj
    Registered Users, Registered Users 2 Posts: 34 ✭barkerj


    These delays are not uncommon with Raisin's partners. I'd be inclined to wait a bit longer. I think there was recently a notification about delays at that bank.

    Also, rates seem to be dropping across many of the banks at the moment. Just make sure they give you the rate at the time you applied for the account.



  • #221
    blade1
    Registered Users, Registered Users 2 Posts: 12,032 ✭✭✭✭blade1


    Well, my second year is coming to an end in two weeks time and with the interest rates not so great at the moment, I'm considering withdrawing and investing in state savings which will give me 22% total interest after 10 years.

    Any other options worth looking into?



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  • #222
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,575 CMod ✭✭✭✭Nody


    https://www.boards.ie/discussion/comment/123369673#Comment_123369673

    Any options that are shorter than 10 years? I'd agree I expect the interest rate to be suppressed for the next couple of years but I don't see them being at that level for a decade.



  • #223
    Hibernicis
    Registered Users, Registered Users 2, Paid Member Posts: 2,180 ✭✭✭Hibernicis


    https://www.boards.ie/discussion/comment/123369673#Comment_123369673

    AIB still offering 2.77% AER for two years and 2.25% AER for one year. Both subject to DIRT. May not last much longer. At 1.86% AER after DIRT the two year is similar to the 10 year National Solidarity Bond but money tied up for a much shorter period.

    https://aib.ie/our-products/savings-and-deposits/personal-fixed-term-deposit-account

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  • #224
    Bass Reeves
    Registered Users, Registered Users 2, Paid Member Posts: 21,175 ✭✭✭✭Bass Reeves


    https://www.boards.ie/discussion/comment/123369673#Comment_123369673

    I would not put money away for 10 years at an annual rate of less than 3% not to mind 2%. For a ten year investment I would look at a fund investment. I be inclined to put the.money into funds over the next 12 months 6 tranches

    Slava Ukrainii



  • #225
    dxhound2005
    Registered Users, Registered Users 2, Paid Member Posts: 23,669 ✭✭✭✭dxhound2005


    The State Savings 10 year has very low returns in the early years, zero in the first year. Click on Show Yearly Returns.

    https://www.statesavings.ie/our-products/10-year-national-solidarity-bond



  • #226
    blade1
    Registered Users, Registered Users 2 Posts: 12,032 ✭✭✭✭blade1


    I'm hoping I won't need the money within 10 years.

    I have trade Republic as well as having state savings already, having two years done of a 10 year stretch .

    Don't know much about fund investment but when I see "you may lose some or all of your investment" it puts me off.



  • #227
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,575 CMod ✭✭✭✭Nody


    https://www.boards.ie/discussion/comment/123371079#Comment_123371079

    Well you lose money either way due to inflation (likely to exceed 22% in a decade) but for zero downside yes you'd be looking at a bank account or safe country bonds (which as always can shift…) as your only guaranteed options basically. Having said that if you invest in a global index fund and don't panic sell but wait it's not even close to comparable returns.

    bild.png

    And as the "what if the market is at the top" always comes into play and the answer is always that it does not matter if you can wait it out:

    bild.png

    Invested at the top of the 2008 crisis? You'd be upp close to 500% today. Pictures are from UBSs Global investment returns yearbook 2025 pdf here. The key to make it is to allow it to ride esp. when things go down because panic selling is what loses most investors their money at the end of the day.



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