Whether you’re a beginner saver, have a lump sum to invest, or wish to grow your existing pot, opening a savings account through Raisin UK is a great way to save, whatever you’re saving for.

But how does it work? Well, the first thing you should know is that we’re not a bank. What we offer is a free, easy-to-use, simple savings service that allows you to choose from a range of banks to save with. You can open and manage multiple savings accounts using our no-fees marketplace.

Just register with us, and you’ll have a choice of competitive savings accounts at your fingertips. The best thing? No more application forms! Once you’ve registered, you can apply for savings accounts in a few clicks.

What’s more, access your Raisin UK Account using our app and manage all your savings accounts in one place while you’re on the go.

To ensure that we have all the necessary information to open your account and to allow us to keep your account safe, during your registration process we will request that you:

• Use a unique UK phone number not associated with another Raisin UK Account
• Provide your bank account details*
• Provide your national insurance number
• State your annual net income
• State your source of funds

*We’ll never make any charges to your bank account. We ask for this so that when you’re registered with us, you can easily transfer money between your nominated account and your Raisin UK Account.

Yes — all but two of our partner banks are covered by the Financial Services Compensation Scheme (FSCS), which covers deposits of up to £120,000 per person, per banking group. The two other partner banks are deposit-protected by separate schemes: HoistSavings, which is protected by the Swedish Deposit Guarantee Scheme, and AgriBank, which is protected by the Malta Financial Services Authority.