@@JayJayvanriel no, I’m an affiliate (if you sign up with my link I receive commission) but I wasn’t paid to make the video. Nevertheless I always try to be as objective as possible 😊
How do you get your money out of the Raising account. Do you need withdraw money from a savings account you chose from Raising to your Raising account before you can access the money
I'm interested in opening a savings account with Klarna through Raisin. However, in case of the bank collapse I will get my money back in a form of a bank check which is useless for me here in the Netherlands. Banks will not accept checks for deposit. Thanks for the upload.
You, or someone, needs to explain the nature and structure of Raisin's compensation if it goes bust. FSCS Their own site says that your "main" account is protected if it goes bust. What does that mean? Is there a "non-main" account that is not protected?
My understanding (based on the Raisin website FAQs) is that the main account refers to any money you have deposited on Raisin but haven't assigned to a deposit or savings account. e.g. I might have 1000€ in a deposit in a certain country, which would be covered by that country's deposit protection scheme. If I have 500€ sitting in my Raisin account then it will also be covered up to the relevant amount in Germany (where it operates as Raisin bank). Hope this helps! Leaving the link for your reference: help.raisin.com/hc/en-us/sections/5595326816786-Deposit-Guarantee-Schemes
Honestly Italian banks (Cherry, for example) offer usually 4.5% (3.33% after tax) for long-term deposits like those. If you want a non-binding deposit Banca Transilvania offers 3.35% (3.015% after tax)-and you can get your money back whenever, without restrictions.
Good morning. I am assuming that this application would not apply to a US citizen. If it does, would this be of benefit to anyone from the US considering moving to Europe and having a bank account already established?
Hi Philip, yes you’d have to be resident in Europe to be eligible. I’m not 100% sure if US persons face restrictions as a result but it may depend on the partner bank?
It’s possible to make regular contributions to a Raisin account yes, whether it’s possible to contribute regularly to a deposit or bank account will depend on the particular terms of whichever one has been opened via raisin. Hope this helps!
If you have money in your Raisin account and Raising goes bankrupt how would you get your money back as Raisin is not part of the UK Financial Services Compensation Scheme.
In the UK the Raisin account is administered by ClearBank, which is protected by the FSCS (FRN:754568). "ClearBank provides your FSCS-protected Transaction Account, which allows you to transfer money between your Nominated Account and your Transaction Account in order to open savings accounts on the Raisin UK marketplace." www.raisin.co.uk/how-raisin-uk-works/ hope this helps!
What do you think of Raisin? Leave a comment and let me know!
Is this video sponsored?
@@JayJayvanriel no, I’m an affiliate (if you sign up with my link I receive commission) but I wasn’t paid to make the video. Nevertheless I always try to be as objective as possible 😊
How do you get your money out of the Raising account. Do you need withdraw money from a savings account you chose from Raising to your Raising account before you can access the money
Hi John, yes the withdrawal goes first to the Raisin account and then can be withdrawn to a personal bank account
Useful video, thanks!
Thanks for watching Kim!! 😁
I'm interested in opening a savings account with Klarna through Raisin. However, in case of the bank collapse I will get my money back in a form of a bank check which is useless for me here in the Netherlands. Banks will not accept checks for deposit. Thanks for the upload.
Oh that’s interesting… thanks for watching!!
@@MillennialsWithMoney I'm in the process of opening a Term Savings Deposit with either Inbank or LHV from Estonia.
@@fattony9227hello! How was it? I saw that those 2 options you mentioned doesn’t allow withdrawals, they are fixed term. Did you find something else?
Hey @fattony9227
Where did you find this info?
Is it related only to Klarna or did ou see it is a common thing?
Hey @fattony9227
Where did you find this info?
Is it a common thing also for other bans or just related to Klarna?
You, or someone, needs to explain the nature and structure of Raisin's compensation if it goes bust. FSCS Their own site says that your "main" account is protected if it goes bust. What does that mean? Is there a "non-main" account that is not protected?
My understanding (based on the Raisin website FAQs) is that the main account refers to any money you have deposited on Raisin but haven't assigned to a deposit or savings account. e.g. I might have 1000€ in a deposit in a certain country, which would be covered by that country's deposit protection scheme. If I have 500€ sitting in my Raisin account then it will also be covered up to the relevant amount in Germany (where it operates as Raisin bank). Hope this helps! Leaving the link for your reference: help.raisin.com/hc/en-us/sections/5595326816786-Deposit-Guarantee-Schemes
Honestly Italian banks (Cherry, for example) offer usually 4.5% (3.33% after tax) for long-term deposits like those. If you want a non-binding deposit Banca Transilvania offers 3.35% (3.015% after tax)-and you can get your money back whenever, without restrictions.
@@smithrockford-dv1nb this is great to know, thanks for watching and for commenting!
Good morning. I am assuming that this application would not apply to a US citizen. If it does, would this be of benefit to anyone from the US considering moving to Europe and having a bank account already established?
Hi Philip, yes you’d have to be resident in Europe to be eligible. I’m not 100% sure if US persons face restrictions as a result but it may depend on the partner bank?
hello can we invest money every month is that possible with raisin
It’s possible to make regular contributions to a Raisin account yes, whether it’s possible to contribute regularly to a deposit or bank account will depend on the particular terms of whichever one has been opened via raisin. Hope this helps!
If you have money in your Raisin account and Raising goes bankrupt how would you get your money back as Raisin is not part of the UK Financial Services Compensation Scheme.
In the UK the Raisin account is administered by ClearBank, which is protected by the FSCS (FRN:754568). "ClearBank provides your FSCS-protected Transaction Account, which allows you to transfer money between your Nominated Account and your Transaction Account in order to open savings accounts on the Raisin UK marketplace." www.raisin.co.uk/how-raisin-uk-works/ hope this helps!