Overview

Raisin, previously known as SaveBetter, is an online platform that assists customers in comparing rates among savings accounts, money market accounts, and CDs. Established in Germany in 2012, Raisin has garnered over one million customers across more than 30 markets. In 2020, SaveBetter made its debut in the United States before rebranding as Raisin in 2023.

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Pros:

• Competitive Rates.
• Diverse Options for Account Opening.
• High mobile app ratings.
• Accounts are typically covered by national deposit guarantee schemes.

Cons:

• Managing multiple accounts from different banks can be overwhelming
• Accounts in foreign currencies are subject to exchange rate fluctuations.
• Some banks may have restrictions on withdrawals or require a minimum deposit.

Best For

"Raisin's user-friendly platform and wide range of savings options make it a top choice for those looking to maximize their savings potential."

Bottom Line

Raisin is a solid option for savers looking to diversify their savings and potentially earn higher interest rates. However, it's important to weigh the benefits against the complexities and risks involved, particularly if you're unfamiliar with international banking. If you're comfortable with managing multiple accounts and are seeking better returns, Raisin could be a valuable addition to your savings strategy.

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