lem1955
Recycles dryer sheets
- Joined
- Mar 1, 2007
- Messages
- 315
Am I late to learning about this custodial bank offering good rates on CD's, or maybe I'm adding something new to the forum! That would be a first.https://www.raisin.com/en-us/
Am I late to learning about this custodial bank offering good rates on CD's, or maybe I'm adding something new to the forum! That would be a first.https://www.raisin.com/en-us/
Feel like I remember some aggregator type "bank" that went bust - offered superior rates up to failure, then the depositors had a miserable time getting made whole as their funds were scattered all over the country. Not saying that Raisin would do that, but it makes me shy away.
+1
Since they are not a bank, they don't have to follow banking rules, and when things go south is when people could find out the bad part about not following banking rules..
I'll pass.
There are more than a few recent reviews on Raisin, easy to find from a quick internet search.
The general consensus seems to be that the "good" is in the rates you can get - though we are talking only a few places to the right of the decimal more. Since the products are from FDIC insured banks, your money is safe. It always goes direct from your linked account, to a holding bank, then to the product bank, or vice versa. The "bad" seems to be the amount of time it takes for the money to transfer, and, based on BBB and TrustPilot reviews, their customer service.
I have Fidelity, and fixed income offerings available there are enough of an "aggregator" for me, so I will stick to that, no need to open yet another account somewhere .