What is Raisin and how does it work?
Raisin is a German platform founded in 2013 that acts as a marketplace for bank deposits. Instead of going from bank to bank looking for the best fixed-term deposit, Raisin aggregates offers from dozens of European banks into a single account. You sign up once, verify your identity, and can access deposits in Germany, Austria, Bulgaria, the Czech Republic, France, and other countries—all from your U.S. account.
The model is simple: partner banks pay Raisin a commission for each deposit they attract. The customer pays nothing—the platform is free for savers.
Products available in Spain in 2026
In March 2026, Raisin offers the following product categories in Spain:
- Welcome Account (3.33% APR): flexible savings account with immediate returns and no term. View product →
- 3-Month Deposit (2.25% APR): for those who don’t want to tie up their money for too long. View product →
- 6-Month Deposit (2.45% APR): a balance between term and returns. View product →
- 9-Month Deposit (2.39% APR): decent returns for short-to-medium term. View product →
- 12-month deposit (2.46% APR): the most popular option. View product →
- 2-year deposit (2.56% APR): for those looking to secure returns over the longer term. View product →
The banks behind these products are regulated institutions in the EU. For example, the 2-year deposit through Raisin may be managed by Klarna Bank or Pbb Deutsche Pfandbriefbank, among others. View Klarna Bank via Raisin →
What safeguards are in place for my money with Raisin?
This is the most important point and where Raisin clearly stands out. All partner banks must be protected by an EU Deposit Guarantee Fund (DGF), which covers up to €100,000 per account holder and bank. This means that if the bank where you have your deposit goes bankrupt, you will recover up to €100,000.
Raisin itself is not a bank—it is a distribution platform. The money is deposited directly with the partner bank, not with Raisin. If Raisin were to go bankrupt, your deposit would remain intact at the respective bank.
Important: if you diversify across multiple banks via Raisin, each deposit has its own independent €100,000 limit. You can have €100,000 in Bank A and another €100,000 in Bank B, all covered.
How much does Raisin charge? Fees and fine print
The platform is completely free for savers. There are no opening, maintenance, or cancellation fees. Raisin charges the partner bank, not the customer.
What you should keep in mind:
- Interest on deposits is taxed in Spain as investment income (between 19% and 28% depending on the amount).
- Raisin does not automatically withhold income tax—you must report it on your tax return.
- Some deposits have a minimum balance requirement (usually €1,000).
- Term deposits cannot be withdrawn early in most cases.
Registration process: Is it complicated?
The process takes between 10 and 20 minutes:
- Create an account on raisin.es with your email address.
- You verify your identity via video call or by uploading your ID (eIDAS-compliant process).
- A custodial account is opened in your name at Raisin Bank AG.
- Transfer funds from your regular bank account to your Raisin account.
- Select the deposit you want to open and confirm.
Raisin vs. Alternatives in 2026
Is Raisin worth it compared to other options?
- vs ING / N26 / Revolut: Raisin offers term deposits with a higher APR than most flexible savings accounts. If you can tie up your money, Raisin wins.
- vs Spanish Treasury: Spanish government bonds offer similar returns but with sovereign risk instead of bank risk. They are more liquid (you can sell them on the secondary market). See government bond returns →
- vs Freedom24: Freedom24 offers a cash account at 3.75% EUR with no term, but it has no deposit insurance. Higher returns, higher risk.
Conclusion: Is Raisin worth it in 2026?
Yes, especially if you have more than €50,000 that you want to diversify into guaranteed deposits. The platform is solid, regulated in Germany, and has distributed over €60 billion in deposits. For smaller amounts, the Welcome Account at 3.33% APR is a flexible, risk-free option.
The main limitation is that term deposits do not allow early withdrawal, so you should only tie up money that you won’t need during the agreed term.