Got worse
It’s not really the app’s fault but Raisin recently changed how you withdraw money. Instead of just withdrawing from the bank you’re invested in with Raisin and sending it to your external bank, you now have to go through two steps on two different days. You need to first transfer it from the Raisin bank to a cash account within Raisin and then remember to transfer it from the cash account to an external bank account the next day. What a pain.
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Overall helps you save and make money
You will find high yield money market accounts and CDs which have helped me make a lot of money so far. Moving funds takes time just like any bank. You need a general bank account like a Chase account as your primary account for funds. Strangely it won’t appear as “Chase Account” in the app, but rather some arbitrary account number. Transfer funds from your primary account to the chosen Raisin account. My original money market account gave 5.3% interest but then dropped down after a few months. I slowly transferred my money back out into my general account then transferred it into another MM account at a higher rate. One time I accidentally transferred too much and needed to cancel the transaction. You can find a customer service number on the Raisin website. I didn’t need to wait long to talk to someone to cancel the transaction.
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So far so good.
I've been using this app for a few months. I'm not sure what all of these ppl are talking about having to log in with their email each time. I use my finger print to log in quickly. i did notice that the first bank i chose was giving 5.26% and in less than a month, it "adjusted" to 5.01%. So i pulled my money and put it into a different bank offered on the app at a 5.26% rate. that has stayed at that rate for over a month. I'm definitely not a big wig, just over 50k is all. But i like the 125 ish a month I make over the 3 bucks a month i was making from the bank I've been with for over 10 years. I would love to see the transfer process only take 1 day instead of 3. You don't have quick access to the money if you need it the next day, so this is hard to use for an emergency fund. Besides that, i like it. I'm hoping it isn't like the Voyager app in the crypto world and just going to go "bankrupt" and take everyone's money. 🙏🙏
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Raisin
While a great opportunity to invest, but the platform is a mediocre of today's standard. This app doesn't have an auto logout/log off/lock when you close the app, including running app in the background. This should be number standard security protection to protect yourself from prying eyes that anyone can open the app and have access to all of personally invested funds. Please add the ability to turn on PIN and request to enter the PIN when accessing the platform. Also, why is the main page dark mode and when i go to my choice of investment page goes to bright white?
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Basic app
The app is so basic and simple it almost seems like a scam. But it does what is intended of it. Keep in mind. Hysa accounts will look very good at first! It was 5.16% when I started. In just 6 weeks it’s had 2 adjustments. Once to 5.01 and now 4.75. If you don’t need quick access to your money I suggest doing a 9-12 month locked interest cd. Remember, this is not just America, it’s the world.. we’re not allowed to make any real money without slaving away for it. Unless you’re in government, big business’s or born into money ( or became a successful entrepreneur) then your subjected to these garbage interest rates. In case your curious, I have 48k in a hysa via raisin.
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I am
I don’t know how those people have had so much trouble. We (hubby & I) have had money invested through them with no issues whatsoever. We have CDs and high interest savings and moved money based on the interest rates. I love making the decisions rather than paying someone to do it. The only thing that I would like is if they transferred without sending the money here first. It’s a waste of time and money. I love them.
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Functional Limitations
The app design looks good and transfers work pretty fast and reflect in the account within 24 hours.
BUT
All I’m able to do it view the balance of the account from the dashboard. I can’t look at account details. If I click the ‘Savings’ tab under ‘Your deposits’ I’m redirected back to the dashboard page. I’m not able to view my own profile, see details for bonus offers, view documents, or make transactions. I have to log in to the web version to see and do everything.
BUT
All I’m able to do it view the balance of the account from the dashboard. I can’t look at account details. If I click the ‘Savings’ tab under ‘Your deposits’ I’m redirected back to the dashboard page. I’m not able to view my own profile, see details for bonus offers, view documents, or make transactions. I have to log in to the web version to see and do everything.
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Ok Interface- I wish there was less digging and clicking…
I’m really glad the previous poster reviewed how they did, I cannot imagine how the app looked before. There does not appear to be any spelling errors and the app is fairly cut and dried from a usability standpoint.
I wish the dashboard had everything on the first page when you log in. You have to click and dig a bit to find stuff. The icons could be better labeled. I clicked kind of blindly hoping I got where I needed on the app. Overall a functional application. It could be cleaned up and streamlined more to provide a better UX.
I wish the dashboard had everything on the first page when you log in. You have to click and dig a bit to find stuff. The icons could be better labeled. I clicked kind of blindly hoping I got where I needed on the app. Overall a functional application. It could be cleaned up and streamlined more to provide a better UX.
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Great service!
I’ve been using this about 2 months now. The app is very simple, but gets the job done. My device starts the app quickly with fingerprint ID. Opening an account is quick. Withdrawing is easy, and the funds are available in 3 business days as described. If you’re willing for your cash to be out of your control 3 days, you can easily use this app to rack up 5+% interest on it. It’s a no brainer for me, and I’m recommending it to my kids. I would like them to add a nickname option for each account. What do you say Raisin?
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PLEASE ADD BETTER LOGIN EXPERIENCE
The company is great, customer service is great, the savings accounts are great, even the app is great once you login! But you will be signed out over time despite checking off the “Remember Me” box and it is quite frustrating. If they would add Face ID or at least update the login experience so you will be remembered on the device, it would make the app MUCH BETTER. I’d be totally fine with 2FA every single time, as long as I don’t have to type my email and password every single time. PLEASE🙏
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