- Protected up to an equivalent of EUR 100,000
- Available for deposits starting from EUR 2,000
FirstSave Euro is the brand name of FBN Bank (UK) which is headquartered in London. FBN Bank (UK) is the British subsidiary of FBN Bank (First Bank of Nigeria), the largest bank of the largest economy in Africa which has been operating for over 120 years and with subsidiaries on three continents. The independent FBN Bank (UK) has been active in Great Britain since 2002 and in France since 2007. It is regulated by the British Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
- Prolongation is only possible 28 to 5 days before termination
- 100% online
- Interest payout possible
About the country
The United Kingdom of Great Britain and Northern Ireland is the largest island state in Europe and is one of the most populous nations in the European Union with around 64 million people. The national currency is the British Pound (GBP). The United Kingdom has one of the strongest privatized economies in the world, evidenced by the fact that it has the third largest Gross Domestic Product in Europe – and the sixth largest globally. The UK is one of the few states with the highest rating (AAA), as assessed by the credit rating agency Standard & Poor’s, amongst others. London, Britain’s capital city and metropolitan area, has been the world’s top financial center for decades.
Deposits are protected by the Deposit Guarantee Scheme of the United Kingdom (Financial Services Compensation Scheme, FSCS – http://www.fscs.org.uk/) up to an equivalent of 85,000 GBP. This corresponds approximately to 94,000 EUR (Dec 2018). The United Kingdom is of the few countries with the highest possible rating (AAA), by the rating agency Standard & Poor´s.
All Member States of the European Economic Area have agreed to protect savers more and therefore harmonized the minimum requirements for national deposit guarantees (Directives 94 /19/EC, 2009/14/EC and 2014/49/EU). Reimbursement, the time limit for repayment and further developments have uniformly been undertaken throughout Europe.
Tax process and documents
The United Kingdom does not charge withholding taxes for non-resident individuals. However, your interest rate gains may be subject to taxation in your home country.
Please note that the tax treatment depends on your personal and individual asset position and that there might be changes in the tax treatment. We advise customers to seek individual tax advice in cases of doubt.
What is Raisin?
Raisin’s goal is to provide savers the best interest rates! We give you access to exclusive savings products from all over Europe – all via one single platform and fully online!
To date, more than 150.000 customers have invested more than EUR 10.0 billion with our 61 partner banks.
We earned the trust of our customers and not only received numerous awards but also have a recommendation rate of 95 % on the independent German rating portal Bankingcheck. This allowed us to build the largest and by far the most successful marketplace for savings and investment products across Europe.
Raisin guarantees a smooth investment process and the simple management of your investments with all of our partner banks via one single platform. And in case of any questions or doubt you can always get in touch with our excellent customer service who are happy to help.
Raise your interest with Europe’s #1 savings marketplace!