Raisin Reviews 

Experiencia totalmente constructiva , efectiva y recomendable

Straight forward.
I needed to wait a few days with the registration process to complete.
All is good so far.

No one answers the phone, emails take days. I have called the FDIC and asked if these accounts are insured and they told me to be safe go with a real bank.

Great platform to deposit money through various banks in Europe.

This is the worst institution I have to deal with. Their customer service is confused, useless. No one return your calls or the support zenDesk. I have been trying to access my savings account since Aug 28th. I asked to change the account linked to raisin. I sent all the documents requested many times. No one responds the chat, updates anything. If I had an emergency, I wouldn’t be able to access my money. I just called again. Another 1h call, and no resolution. Do yourself a favor, and go to an institution that provides you with assistance.

Only one point of sense: please make visual on the dashboard screen the status of the Raisin account ikzelf.

I completed an application for a CD, which of course included my having shared a lot of confidential information. At the end of the application, repeatedly, Raisin denied my application because, as the online app said, they could not confirm my identity. I was instructed to call to clear this up. But no one ever answers, and instead you're directed to request a call-back. Since I'm a teacher and don't pick up my phone during school hours, I asked by email for another way to confirm my identity, but Raisin claims to not be able to confirm identities unless they call you back. So now I ask by email for Raisin to delete my application and any of my personal information. Do you think they responded?

No problems at all. Easy transfers in and out, though it takes a few days. Made for those who want simplicity with high yields.
That said, the web and app interfaces are very bare bones. But not hard to find the info you want.
The one support call I made was to change email address. Was done easily, but I wish they wouldn't use email addresses as user names. Not secure to my thinking.

Opening the account is easy but when I checked reviews on trustpilot I decided to steer clear I'd rather suffer low interest rates ,they seem to treat Irish customers with contempt ,with no replies to reviews but in the UK at least they answer all reviews mostly with feeble excuses but at least they acknowledge.

Customer service number just hangs up. Very slow to respond to emails. Would not accept proof of address. Takes forever to sort anything out. The video sign up staff were very abrupt and just hang up before you can ask any questions. Raisin do not care about there customers.

When it works, it is fine, but when something goes wrong the company has no systems in place to support its customers. I went through the identification procedure conducted by IDNOW (the service provider of WeltSparen), and they assured me that everything was fine, but suddenly I get an email from Weltsparen customer service saying that the bank where I intended to deposit my money does not accept my ID picture (taken by IDNOW) because it is a bit blurry. I was told that sending a copy of my ID is not possible and that I must go through yet another identification procedure. I am not happy to waste 20 min, but I can live with this. The problem is that my account verification link does not work anymore and the customer service is simply clueless and cannot offer any solution. They tell me that they do not have technical support to forward me to! How is this possible??? It has now been a week, two calls to customer service, two emails, and they still can't get their act together. They recommended that I download their app and start the verification procedure from there. Guess what? It doesn't work from there either! Then they tell you to get yourself identified at a post office, but this is only possible in Germany and I am based in Austria. I guess I have to go for a lower interest rate but a service provider who understands how to treat its customers.

Update a year later - still one star, because customer service is still unbelievably bad. Last year they couldn't find a way (did they really try?) to actually fix their identification workflow in coordination with IDNOW, so they simply said that my documents were suddenly legible and they could open an account for me. They have aggressively asked me to correct my original one-star rating. I replied that I would consider doing so if they reimbursed me, at least partially, for the lost interest for 1 month. I suggested that they pay me an opening account bonus of EUR 100 instead of EUR 50 (the lost interest was substantially more!), and I got an answer that this decision needed to be approved by "top management" - which they never did. How about this top management, and in particular Mr. Andreas Wiethölter who is in charge of customer service, takes a hard look at themselves and asks how can they earn their (rather high I am sure) salaries if the customer service is so poor and doesn't improve?

Short update: trying to re-invest my money. The site shows numerous offers, I answer KYC questions and then get an error message time and again. Extremely frustrating! This has been going on for weeks. So one star stays since I can't give zero.

I have just made a fairly sizeable deposit with Raisin.
I had worries about the fact that they neither have a premises in Ireland or a phone number.
So I rang the Central Bank (who regulates them)
They assured me that they were happy to approve Raisin as a bank in Ireland even if they have neither phone nor office in the country. Your savings are guaranteed up to €100,000 by the ECB.

Tried to set up joint account online with my wife. Sent in the application. Both received confirmation emails for account logins and to click link to finish enrollment. Done, click, "Verification Failure" call customer service. **Advice don't wait on hold use the callback feature.**

Customer service reset the application, said it happens but should go through. Nope-verification failure. Customer service said they aren't able to tell why it is failing, reset again and again said it should go through. Nope-verification failure. Decided to wait a few weeks before trying again.

Called back. Customer service rep- Since verification failed 3 times I can't help you. Okay, who do I talk too? NO ONE, verification failed 3 times so the application can't be reset again and you cannot start the application process over. Wait, what? So there is no one in the entire company I can talk to to help me get verified to open an account? NO. There is no one I send a copy of my license, a void check and a bank statement to so they can verify me like other banks do? NO, NO ONE, we only do online verification. So what you're saying is I'm banned for life because your system doesn't work? NO you're not banned. Okay so how do I open an account? YOU CANNOT OPEN AN ACCOUNT because you failed verification 3 times. So I'm banned? NO but I can't reset the application and you can't re-apply. I would like to talk to a supervisor.

Manager- So I talked to the Rep and I understand you failed the verification process 3 times, is that right? Yes. THERE IS NOTHING I can do to help you. So who can help me? NO ONE. So I'm banned for life because your system doesn't work? NO you're not banned for life because at some point, some time in the future, the company may add or change the verification process and you can re-apply. What? When is that going to happen? I DON'T know if it will happen or not but it could so you're not banned for life. So you're telling me there is not one single person in the entire company that I can talk with to resolve this and open an account? NO NO ONE. Can you give me contact information for your coroporate office? NO we only give the customer service phone number and email to customers.

The rates are top notch but if my experience is any indication of how the rest of the company is run, I'd be very cautious using them.

BBB complaint filed. Hopefully I can get someone from Corporate to look in to the issue (as others have had the same "verification" issue) and call me back.

Raisin.com offers very good rates. Creating my account and depositing the money went pretty well.
The problem arose when I wanted to make another deposit from a 2nd account. You are limited to a single linked account, and changing it is more painful than a root canal (and takes days).
You are also limited to $10,000 daily withdrawals. So if this is your emergency cash fund, you'd better not have an emergency costing more than $10,000.
Their phone customer service is nearly non-existent; after 20 minutes of listening to their horrible "hold" muzak, I hung up (which I suppose was their intent all along).
Their e-mail customer service is equally frustrating. It took more than a day for them to send me a boilerplate message, and their instructions didn't work.
It's not that hard to find other investments with nearly identical interest rates. Do yourself a big favor -- do NOT send your money to raisin.com.

The only way to get help from Weltsparen support is by leaving a 1 star review here.

my money is blocked AGAIN, first because a flipping SMS, now because their KYC system doesn't work, I need help identifying myself AGAIN, the experience with the App, with the customer support and with the UX in general has been just a complete nightmare, I regret the moment I've decided to transfer any cent into this company.

With the skyrocketing APRs, thought it was the perfect time to move my kids savings from a credit union to online savings.

With one of my kids, setting up her account seemed to work as deposits would transfer but then would result in an ACH refund a few days later. I called their customer service and they said we had set up the account type wrong. We chose checking instead of savings from our original bank. Honestly, I don't remember doing that, but fair enough.

CSR said he changed the account type to savings and that we should be good to go. Still didn't work. Another call to customer service and another account reset, but this time she said don't make another transfer until the current one was sent back.

Finally, after 4 calls with their CSR and about a week of frustration transfers went through. And now it's been smooth sailing.

I thought I would set my son up on the same Raisin account. This time it wouldn't even let us finish registering account. We always got hung up after entering his personal details. Error message every time.

Two more calls to CSR, where they said that we must be entering info wrong because something isn't matching up. Two more account resets.

Last call, I was literally told that we're down to our last chance. Three account resets and we would not be able to set up my son's account with Raisin. Three strikes and you're out, I guess. I get that there are security issues at play. But it's still crazy that they don't have a remedy, other than saying I can't do business with them.

The thing is now his PW doesn't work, so we had to reset that...but the PW reset email still hasn't come through. So we're in limbo.

So basically Raisin has great savings rates, but it's been WAAAAY too hard setting up these accounts.

If nothing else, you should be able to provide a frictionless experience for your customers. Raisin is still a long way from doing that.

The right hand does not know what the left hand is doing. The higher interest rate is nice but getting your money back out takes multiple calls and is very frustrating. I requested a transfer on Friday, 7/28/23, they advertise 1-3 business days. I then learned since I made the transfer after 1:30PM EST it would be 4 business days, I called Thursday the money was still not in there. I was promised the money would be in their Friday 8/4/23 - the money has still not arrived at the receiving bank. Absolutely nuts. I cannot recommend using this company if you want your money back in a timely manner like they promise.

So far so good!
I am confused about some of the other reviews complaining about raisin.com's business model. Firstly, read up on the company, understand their business model, then decide if it works for you. If you didn't, shame on you. Double shame for writing a poor review. It is like going to a burger joint, then writing a bad review bcs they don't have Chinese food or pizza.

Secondly, I had some issues opening my account, but that was due to me making a mistake. I called customer service and chose to receive a callback. Which I got abt 20 min later. The rep determined that the system needed to reset my info, I needed to start the process over, and to give it abt 30 min. I did that. I then had issues logging in, called again, rep stayed on phone with me for 16 min and we got issue resolved. Info clearly states that for security, you need to set up secondary verification once your account is set up.
Yes, I am retired and can do that. If I were not retired, I would just have to work it out on breaks, or during lunch.

Yes, what you can do is limited. There are no account numbers, just a unique identifier assigned to you. It is a custodial account. This means that raisin.com actually is the one that has an account with the financial institutions you see offerings for on their site. It is like a shopping club, but for banking, well savings. The reason why raisin can get higher interest rates - they pool the small amounts into one account. Instead of the bank dealing with 1,000 accounts, they only deal with raisin.com's account. Raisin deals with the 1,000 accounts on their platform/site and provides the support services. It is a win for them and a win for those of us looking for better interest rates.

I made a test transfer for only $100 to raisin.com and it only took one day for the money to post. Today I made a trial withdrawal to see how long it takes for planning purposes and expectation management.

If you want banking with all the bells and whistles, understand that bells and whistles cost money = lower interest rates. If you want the higher interest rates, understand what raisin.com is and what it isn't, then decide if it is right for you or not.

You can only have one external account connected to raisin.com. So any money I want to transfer to raisin.com gets moved to that account, then I go to raisin.com and transfer it to raisin.
You will not be able to pay bills from raisin.com or connect raisin.com to your other external.accounts because you do not have an account/routing number.

You can even subscribe to multiple of their custodial accounts. I counted 35 savings/money market accounts, 65 CDs varying from 1-60 months, and 10 no-penalty CDs with duration from 3-14 months . This allows you to take advantage of offerings with the highest interest rates and that best meet your needs.

A lot of these reviews are whining about first world problems owing to the writer failing to read and understand. Instead they want raisin.com to be what they want it to be, then complain about what it is.

With all its flaws, I am thankful to live in a country where we have these opportunities and offerings, even if customer service hours in this instance are only from 9-4 (it means no overtime has to be paid, or premiums for working outside of normal hours = higher interest for customers)

Same day update: I am actually grateful to those whiners! During my extra deep-dive for this review, I discovered a 5-month CD that pays 5.27%APR w/ 5.41%APY. I don't want my funds tied up for a long time, but 5 months is acceptable and it pays .2% more APY than the savings. So that all of my money isn't tied up at one time, I will ladder: split it up and purchase 10 CDs over 10 weeks, which means after five months, every week another CD matures for the next 10 weeks. Also, if there is a better rate, I can take advantage of it. Should an emergency come up, I can just use the money instead of reinvesting it, or if I have to have the money before one of my CDs matures, I only have to pay a penalty on that amount, instead of the whole amount.

One of the biggest advantages of raisin,com for me is that I don't have to spend hours trying to find high rates. With 110 offering from a variety of financial institutions, there is sure to be something for you if you are looking for higher interest rates.

Utterly shocking. Got an email to say an account had matured and funds were in my account. Logged on to see the maturity processed but no cash. Phone line says leave a message but no voicemail facility. Email goes unanswered.