Eoghan O’Hara
Country Head Ireland, Raisin
With no fees, no subscriptions and plenty of choice for your savings, one platform hopes to encourage people to protect their savings with secure, high-interest savings accounts.
Many European countries boast a wide choice of banks, each offering a range of savings schemes. Ireland has only three domestic banks, and this lack of competition means Irish savers are frequently left with returns as low as 0.13%.
Eoghan O’Hara, Country Head Ireland, Raisin, discusses this problem: “It is becoming more important than ever to make sure our savings are keeping up with the rise of inflation, but Ireland traditionally has limited options.”
With many over-50s left worrying whether their hard-earned nest egg is keeping pace with inflation, O’Hara implores: “People should be taking the time to review how much their savings have made over the last six months. Speaking to a financial advisor can give you an idea of what is available.”
High-interest savings accounts under one roof
Founded in Germany, Raisin is a fully licensed German bank, supervised by the Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB). The bank’s platform provides Irish savers access to deposit products from 28 banks across Europe, including fixed-term deposits and easy-access accounts to suit the needs of each user.
Access to trusted European banks is housed on one user-friendly platform, where deposits can be made from as little as €1. “Even with easy-access accounts, savers should be earning a fair return,” O’Hara explains. “If not, they’re losing much-needed spending power. We are working with banks throughout Europe to provide more choice to Irish savers.”
We only allow savings up to
the guarantee level so that our
customers can be fully confident t
hat their nest egg is protected.
Choice, security and better returns
With no sign-up fees and a dedicated support team, the platform is positioned as a straightforward option for those who want to safeguard their nest egg. “We aren’t asking people to change their banks; we are simply providing a safe, accessible platform where people can protect and grow their money,” assures O’Hara.
“We have terms from as little as three months all the way up to seven years — the choice of which depends on your individual circumstances, and people can top up or withdraw anytime with flexible demand deposit accounts,” he adds. “We are dedicated to expanding our partnerships with trusted European banks to provide as much choice as possible to our Irish customers.”
Protected by the European Deposit Guarantee Schemes
Many people understandably worry about the security of their money. However, all banks on Raisin’s platform participate in the European Deposit Guarantee Scheme, protecting deposits up to €100,000 per customer, per bank.
“People have a right to be wary, as moving money around can be daunting and scary, but security is of the utmost importance to us,” stresses O’Hara. “We only allow savings up to the guarantee level so that our customers can be fully confident that their nest egg is protected by the same protection which is offered at Irish National Banks.”
Committed to customer service
The platform is free to use and supported by a dedicated Irish customer care team, available Monday to Friday via your online account, email or phone call.
“Our system is simple, secure, and supported. Every step of the process is backed up with FAQs, online help and phone support,” says O’Hara. “Our customers can call us up with any questions, concerns or just to talk through the sign-up process. We will always prioritise our customer relationships, backed by human-to-human contact and mutual trust.”
Find the right fit for your finances
The platform provides a clear overview of all your accounts in one place, giving you the ability to track your savings from wherever you are. Their user-friendly system can be tested out with as little as €1. They also have a handy online calculator, which shows how much your savings could be earning through the platform, helping you to decide whether it’s the right fit for your financial needs.
