I want to invest my savings in Europe,
where do I start?
It’s very easy, let us show you …
Become a customer by registering for a Raisin Account
To sign up for products you must first open your Raisin Account with Raisin Bank. The registration process is very simple and can be completed 100% online:
- Click on Register and complete the registration form.
- Verify your identity by video.
- Upload a proof of address.
Transfer the funds you wish to invest to your Raisin Account
- You will be able to find the IBAN of your Raisin Account in your online banking.
- The first time you order a product, we will ask you to enter the IBAN of the account from which the funds originate. This account will be linked to your Raisin Account and will be the only account to which you will be able to transfer funds from your Raisin Account.
- Once the funds have arrived in your Raisin Account, the bank will review your application and, once approved, your money will be automatically transferred to the deposit account you have selected. We will send you an email confirming the opening of the deposit account.
Raisin Bank allows you to order deposit accounts with banks located all over Europe, completely online, free of charge, and without the hassle of opening current accounts with multiple banks.
We make it easy for you. Compare the more than 48 deposit accounts on offer, with terms ranging from 3 months to 5 years, and choose the products that best suit your needs. We will make sure you receive all the required information, documentation and attention in English.
At Raisin Bank, we offer products exclusively from banks in the European Union. As a result, your savings are protected by the Deposit Guarantee Scheme of the country in which you are ordering the product, up to a maximum of €100,000 per depositor and bank.
It’s very easy, here’s how:
- Open your Raisin Account. Register online from your device and access your online banking to verify your identity and address. Once verified, we will open your Raisin Account at Raisin Bank, free of charge. Your Raisin Account will allow you to order and manage all the products you want.
- Choose a product. Choose the products that best suit your plans, set the amount you wish to invest and submit your application, all completely online.
- Transfer funds. Transfer the funds you want to invest to your Raisin Account and we will take care of the rest.
At Raisin Bank, we work with banks located exclusively in the European Union, which means that they are members of their respective national Deposit Guarantee Schemes. As a result, your savings are protected by the Deposit Guarantee Scheme of the country in which you are contracting the product, up to a maximum amount of €100,000 per depositor and bank.
Following European regulations, the Deposit Guarantee Schemes have been harmonised in order to offer the same standards within the EU in the event of a bank’s insolvency.
The main advantage is that you can access deposit accounts with a wider range of returns without having to change banks or open multiple current accounts, and thus benefit from more competitive rates offered by European banks. This is a common practice for savers from other European countries, who are used to investing outside their own country to get more out of their savings.
Not all EU countries and not all banks are in the same situation, so there are several reasons why a bank may offer higher rates. For example, the bank may be in a period of expansion and need to raise liquidity to finance this growth, or it may have an interest in diversifying the sources of its liquidity. On the other hand, competition is not equal in all countries – as a general rule, the more banks in a country, the higher the interest rates they have to pay to be competitive.
As a resident of Ireland, you will have to declare the interest earned on the deposit accounts you order through Raisin Bank when filing your income tax return.
Depending on the product’s country of origin, it is possible this country will apply a withholding tax to the interest generated. However, in most European countries, you will be able to claim back this withholding tax by sending us a certificate of tax residence in Ireland. For countries where the withholding tax cannot be claimed back, you will be able to compensate for the amount when filing your annual tax return in Ireland. You will therefore never be taxed twice on the interest earned through Raisin Bank’s products.
To find out more about how the products you take out with Raisin Bank are taxed, consult our tax guide.
No, the services offered by Raisin Bank are free of charge. This includes opening and maintaining your Raisin Account, managing your international bank transfers (in euros), confirming your balance, sending statements, as well as our Customer Service in English. The opening and maintenance of term deposits with our partner banks are also free of charge.
Raisin Bank receives a commission from its partner banks for the savings intermediated. This income enables Raisin Bank to offer you their services completely free of charge.