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Raisin Reviews


bestfor-icon Wide Range of High APY Savings Products

Written by Andrew Omalley

About Raisin | Read More


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Opening Hours Opening Hours drop-down-btn
Mon - Fri 9 am to 4 pm ET
Sat - Sun Closed
Contact Information Contact Information drop-down-btn
  • support.us@Raisin.com
  • 844-994-EARN (3276)
  • 1411 Broadway, New York, NY 10018, United States
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Raisin Online Banking Review

Raisin is an online marketplace for savings products that allows customers to shop around to find the best deals. As Raisin gets paid directly by each bank, you will not have to pay any monthly fees for these savings products.

You’ll be able to fund and manage multiple saving products from various financial institutions through a single Raisin account. This makes it a lot easier to keep track of your funds and see how different types of products are performing.

The main savings products on offer are high-yield savings accounts, money market deposit accounts, and certificates of deposit (CD).

Raisin Online Banking Highlight


Min Balance


Min Deposit


Other Fees

Online Banking Savings


Min Deposit


Min APY Savings

Pros & Cons

  • con-icon Does not charge customers any monthly fees
  • con-icon Users can control various savings products from one Raisin account
  • con-icon Only required a deposit of as little as $1
  • con-icon Competetive APYs are available
  • con-icon Only works with reputable financial institutions
  • con-icon Some products have low APYs
  • con-icon Each institution will have its own rules

Account types

  • Savings
  • Certificates of Deposit (CD)


Account Type 1 Year  3 Years 5 Years
Savings Accounts 2.4% – 5.3% 2.4% – 5.3% 2.4% – 5.3%
Certificate of Deposit (CDs) 0.55% – 5.36% 1.61% – 5%  n/a

Opening an Account With Raisin

The process of opening an account with Raisin is relatively straightforward, usually only taking five minutes, and can be completely done online. You will initially want to look at the savings products on the Raisin marketplace.

Once you find your preferred product, you can proceed with it by following the various prompts. You will need to first provide your email address and decide on a password for your Raisin account.

Then there’s a simple application from that requires information such as your full name, home address, and date of birth. You’ll also have the option to make it a joint account at this point.

Agreeing to the platform’s terms and conditions will then be necessary before proceeding. 

Raisin will verify your identity and then you can link a bank account that you are using to make your deposit.

 As soon as the bank that is offering your savings product receives your funds, you will start earning interest. Deposits and withdrawals through Raisin will typically take 1-3 business days.  

State Availability

- Available in all states

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.



Does Raisin offer telephone support?

You can contact the Raisin support team by telephone during weekdays between 9am and 4pm ET.

Does Raisin charge any fees to customers?

Raisin will not charge any fees, nor will the institutions you will be investing your money with. Raisin makes its money by charging the banks fees, which means that customer fees are avoided.

Are all of the financial institutions that Raisin works with legit?

Yes, all of the banks and credit unions that Raisin works with are FDIC-insured.

Customer Support

Raisin always looks for ways to keep its customers happy. Everything is streamlined to ensure the start-up process is as streamlined as possible. If you’re looking for more information about Raisin, check out the help center. 

You’ll find different sections covering key areas, allowing you to learn about all aspects of this marketplace.

You’ve got a handful of options for any issue requiring direct customer support. There’s a live chat team that can solve simple issues, with email support being a good fit for more detailed matters.

Then you can ring the Raisin phone number during weekdays to speak directly with a team member. We found the quality of responses to be very good.

Privacy & Security

Raisin makes sure to only work with reputable, federally insured financial institutions. While Raisin is not a bank, it still takes the utmost care to protect its depositors’ funds.

All customer money is kept in a custodial account with the credit union or bank providing your preferred savings product. These institutions are federally insured, typically up to $250,000 per individual. 

Raisin also puts a lot of resources into protecting its users’ data. It is a SOC 2-certified platform, meaning external auditors have validated its security principles.

Some of how it protects people include two-factor authentication, data encryption, firewall protection, constant security monitoring, and regular security assessments.

In Conclusion

Raisin is a reputable marketplace for people who are looking to access high-quality savings products. The user-friendly nature of the platform makes it very popular as you can invest in multiple savings products across numerous institutions all through a single account. Strong security is also in place, and the customer support team is on hand to solve any issues you might be encountering. 

Brand Disclaimer

Raisin is not a bank. It is a digital savings marketplace where you can fund federally insured deposit products with a wide range of maturities and APYs (annual percentage yield) offered by our partner banks and credit unions, allowing you to design a savings strategy customized to your earning and liquidity needs.