I have several accounts in my Raisin portfolio and they definitely have some benefits for self management. That said, when a CD matured last week, my broker had a more attractive replacement, for the best rate on a 12 month CD through Raisin had a 3 month call date. Point being, it’s important to read and understand the terms before buying a CD as interest rates are expected to decline.
Great vid... Thanks... One question please... What happens at the term end of each investment? Do Raisin give you plenty of notice to withdraw the interest and/or reinvest the initial capital?
There not really a term with savings accounts. For CDs, your money rolls back to your linked account. You can then decide if you want to have a new CD. CDs do NOT rollover. Raisin is rolling out their own sweep account to make this easier (and I think it’s coming soon).
CD rates are fixed and guaranteed through the term of the CD. Savings rates are never fixed. So, do you think we’ve hit the peak and rates will start falling in the fall? Well the you can lock in a guaranteed rate for the term.
What happens if the partner bank Raisin referred me to lowers their APY on savings accounts, does Raisin help in finding a new bank, which could offer better rates?
You can use the Raisin platform to open a new account at a new bank that offers a better rate. I don't know what you mean by "help", but you can easily shop around and then move funds as you want.
Good informative video, started my account a week ago. It’s looking good, by chance do you have a video on a how to navigate raisin app? And utilize it to its fullest potential?
Just made an account on the 26 but I don’t know how to transfer more money into my HYSA can you help me ? I tried contacting their customer service but not heard back yet
Their app isn’t their primary platform (their website is) and we can’t attest how easy it is, but Raisin is a solid option for saving. All bank partners they use are FDIC or NCUA insured.
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
I have several accounts in my Raisin portfolio and they definitely have some benefits for self management. That said, when a CD matured last week, my broker had a more attractive replacement, for the best rate on a 12 month CD through Raisin had a 3 month call date. Point being, it’s important to read and understand the terms before buying a CD as interest rates are expected to decline.
It's amazing that you reply too all the comments. Great vid!
Thanks! We try!
Great vid... Thanks... One question please... What happens at the term end of each investment? Do Raisin give you plenty of notice to withdraw the interest and/or reinvest the initial capital?
There not really a term with savings accounts. For CDs, your money rolls back to your linked account. You can then decide if you want to have a new CD. CDs do NOT rollover. Raisin is rolling out their own sweep account to make this easier (and I think it’s coming soon).
@@Thecollegeinvestor Thanks for your reply. I´m gonna try them out this week! x
How does interest get paid?... Does it stay in the raisin account, or does interest earned goes to external bank account?
It's a savings account, so the interest stays in your savings and compounds. You can always transfer it somewhere else along with your balance.
Im wondering if raisin is nice to jump around to banks when they cut your rate
Inside the Raisin portal you can see the rates of other banks, and you can easily open a new account and transfer.
wonder if it costs to transfer
@@Thecollegeinvestor
Why would one choose a CD when the APY on a savings account is essentially the same or better? Is there any benefit?
CD rates are fixed and guaranteed through the term of the CD. Savings rates are never fixed. So, do you think we’ve hit the peak and rates will start falling in the fall? Well the you can lock in a guaranteed rate for the term.
I wish we had those interest rates in Europe
What happens if the partner bank Raisin referred me to lowers their APY on savings accounts, does Raisin help in finding a new bank, which could offer better rates?
You can use the Raisin platform to open a new account at a new bank that offers a better rate. I don't know what you mean by "help", but you can easily shop around and then move funds as you want.
Thank you
Good informative video, started my account a week ago. It’s looking good, by chance do you have a video on a how to navigate raisin app? And utilize it to its fullest potential?
Just made an account on the 26 but I don’t know how to transfer more money into my HYSA can you help me ? I tried contacting their customer service but not heard back yet
Yeah you add your existing bank account (using the automatic system or with trial deposits). Once it’s added you can transfer your money.
Great explanation
How would I get my tax information for this platform?
You get your 1099-INT in your document portal just like your monthly statements. No different than any other bank or broker.
I received my 1099 in the mail just today
He talked over 6 minutes advertising rasin, only to discourage the use of it at the end. How ironic!
Every review that’s worth their weight should talk about pros, cons, and alternatives.
Is raisin app a legit app?
Their app isn’t their primary platform (their website is) and we can’t attest how easy it is, but Raisin is a solid option for saving. All bank partners they use are FDIC or NCUA insured.
Is this a legit app and banks, too?
Yes, and all the bank partners are FDIC insured banks or NCUA insured credit unions.
@@Thecollegeinvestor okay. Thanks alot